The most popular category in the restaurant industry is the quick service sector; it is also the only segment to have increased in value in 2011. Overall, the restaurants industry has proven its resilience in the face of the economic downturn but the market has not been immune to the hard times and more businesses closed in 2011 than in 2010.
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Key Note estimates a growth in sales for vegetarian foods helped in part by the market being boosted by celebrity chef media coverage.
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UK household expenditure on bread and bakery products will continue to rise over the next 5 years. However, manufacturers’ value and volume sales will remain squeezed by intense competition, promotional activity and rising input costs.
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In 2011, Key Note estimates that the UK hotel industry increased in value by 4.5%. This healthy growth in the value of the hotel industry follows 2 years of decline, in which the market was significantly impacted by the economic recession in the UK, and the effect of the global economic downturn on international tourism.
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The future of the UK newspaper industry remains fairly uncertain following a period of long-term decline.
The declining value is due to a drop in circulation, with fewer consumers buying titles, while newspaper advertising revenue — which makes up a large proportion of the industry’s value — has also decreased. Only digital alternatives seem to offer any way out of this slump.
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