Full-Service Restaurants in Bulgaria

PROSPECTS

Full-service restaurants set to become more popular destinations for lunch

According to industry sources, the forecast period is likely to see a moderate increase in the average number of times Bulgarians visit full-service restaurants per year. This will be mainly due to rising disposable incomes and improvements in general living standards, which are leading many consumers to eat out as a leisure activity more often.

Other full-service restaurants benefits from rising health-consciousness

Other full-service restaurants looks set to continue performing strongly over the forecast period. Mainly represented by outlets specialising in fish dishes or vegetarian and vegan cuisine, this category is well positioned to benefit from growing interest in healthier foodservice options amongst Bulgarians, particularly amongst consumers in larger cities such as Sofia, Plovdiv, Varna and Burgas.

Restaurant Week increases the exposure of full-service restaurants and their offerings

Restaurant Week is a city-wide event held twice a year, in May and September. The participating restaurants offer three- or four-course set menus with a fixed price (BGN30 in 2019).

COMPETITIVE LANDSCAPE

Happy Bar & Grill maintains its lead in a highly fragmented field

Full-service restaurants is highly fragmented due to the dominance of independents. A lack of serious investment in chained full-service restaurants throughout the review period is an important factor preventing further consolidation of the category.

Wagamama, recently acquired by The Restaurant Group, closes in 2019

The Restaurant Group, the owner of Frankie & Benny and Garfunkel restaurant chains, is the new owner of the Asian food chain Wagamama. The deal estimates the business at GBP559 million, the BBC reported.

Victoria expands beyond Sofia but struggles with brand identity

Victoria Restaurant was the second leading chain in full-service restaurants in value terms in 2019. Whilst it saw growth in current value sales and transactions, its overall value share remained stable, thanks in part to its decision to focus on strengthening its presence beyond the Bulgarian capital of Sofia and introduction of online ordering and delivery services.

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