The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2015
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Global consumer foodservice in 2015 can be characterised by strong growth at the global level, with significant competitive challenges in major markets. Operators struggled with changing consumer preferences, macroeconomic pressures, and the constant threat of new and mounting competition, particularly from local operators. Nonetheless, 2015 was also a year of new opportunities - new long-term growth markets, new growth categories, and new demand drivers in key markets.
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Global growth at the highest level is steady, showing an improvement over previous years. However, these figures camouflage very real challenges facing operators in nearly every major market, from the fast-casual shift in the US to the rise of powerful local competitors—and demand for local cuisine—in key emerging markets.
Global growth prospects have changed along with competitive conditions. China offers very real opportunities, but they are strongest in local cuisines rather than in formerly dominant growth categories like chicken and burger fast food. Operators are now re-evaluating their long-term strategies, focusing on a broader range of long-term targets in Latin America, Asia Pacific, and the Middle Eastern Gulf States.
One strategy that has become somewhat universal across regional barriers is the need to offer high-value in every category and at every price-point. The pursuit of value is now a key demand driver in emerging and developed markets alike, as consumers limited by price-sensitivity, macroeconomic pressures, or low disposable incomes seek to make the most of each of their dining purchases.
Demand is growing for chained versions of local cuisines, creating powerful long-term opportunities in some of the most important markets. This has created a challenge for leading multinational operators which have built their positioning on international appeal.
Global consumers are also universally looking for more convenience and more simplicity when it comes to dining out. Online ordering, mobile payments, and delivery service are coming to play integral roles in the dining experience, a trend that will only accelerate.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.