The Coronavirus pandemic has devastated the global foodservice industry in the short term, while radically accelerating existing trends. Surging investment in delivery and online ordering has combined with massive new demand for prepared meals consumed at home. This briefing serves as a guide to the current state of play, running through key regional trends, as well as the five most important global trends for the next five years.
The days of delivery as a bolt-on to a restaurant’s existing business are fully gone - the costs associated with third-party delivery and continued declines in eat-in traffic demand more specialised models.
The emergence of powerful, scalable ghost kitchen production networks globally could drive an explosion in virtual brands over the next five years, while bringing a host of non-traditional players into the foodservice space.
Grocery stores and restaurants are both ultimately in the “meal solutions” business, existing on the same continuum of meal occasions throughout the day. Rapidly advancing delivery usage will accelerate this process.
The strategies used to drive high-margin food and drinks sales via the on-trade, particularly limited-service restaurants, will face real pressure in the delivery era, as consumers demand new options.
Food and cooking-related content will become an ever larger part of the pop culture conversation, with more means of monetising (and branding) these conversations than ever.
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