Consumer Foodservice in Hong Kong, China

Healthy growth with positive market landscape

Consumer spending on foodservice continued to rise at a healthy rate in 2018 in line with positive economic performance. In response to rising health and wellness concerns, traditional established companies such as full-service pizza chain Pizza Express, bakery products limited-service restaurant Pret a Manger, and Australian-style American steakhouse, Outback Steakhouse, actively added new vegan items to offer a balanced, healthy diet on top of their core food menus.

Hybrid concepts on the rise

The competitive market environment for foodservice providers was fruitful yet intense during 2018. Consumers, especially from younger generations, no longer simply ask for higher food quality, instead demanding a modern, authentic, and relatable dining experience.

Traditional chained businesses show signs of slowdown

Large corporate players such as Maxim’s and Café de Coral have seen a growth slowdown within their traditional namesake restaurants. The introduction of new brands and renovations of existing stores have been actively pursued by companies looking to provide an exclusive experience for diners.

Specialised food menus embraced by independent stores

While Chinese restaurants continue to dominate sales, Japanese, Korean, Thai, Vietnamese, and European restaurants are expanding. Consumers in Hong Kong enjoy a wide variety of cuisines given the popularity of travel to other countries, especially in Southeast Asia.

Optimistic outlook given strong domestic demand and tourism revival

Foodservice sales are expected to continue growing at a healthy rate over the forecast period, with the number of outlets also set to increase further. The optimistic economic outlook, together with the growing tourism industry under multiple travel network expansion projects managed by the Hong Kong government, has greatly encouraged foodservice growth.

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