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 2018
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The full-service restaurants category in Asia Pacific is driven by the popularity of local cuisines. The rising population of millennials and their busy lifestyles has supported the rapid growth of full-service restaurants. Further, rising disposable incomes and the fondness for local cuisines, especially Chinese food in major markets such as China and India, have supported the development of this category.
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China is one of the biggest markets in the world for full-service restaurants. Its strength can be credited to the rising demand for dining out among the population, along with improved economic conditions in the country. Interest in trying new and different types of food have supported the rapid growth of the category in the country.
The region has seen the growing popularity of Asian cuisine, especially Chinese food. Consumers of all ages like this type of food due to the variety of flavours as well as ready availability throughout the region. Moreover, the buoyant growth of third party delivery service has supported the growth of Asian FSR in the region.
FSR sales through the retail channel have gained popularity across Asia Pacific. The rise in sales through the channel can be credited to the growing popularity of malls as a one-stop solution for consumers for shopping, entertainment and dining out. Increasingly, millennials also prefer to visit malls to socialise with friends over drinks and food in a café or a restaurant.
The rising disposable incomes of consumers, with both men and women working, and busy lifestyles have developed the market for exotic cuisines, such as European and North American FSR. Consumers are increasingly becoming aspirational in their consumption patterns, and demand additional services, along with healthier and premium ingredients in the food they eat.
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