UK foodservice industry to grow by 2.3% in 2023, report says

16th January 2023 | Jack Oliver

The UK foodservice industry is set to grow by 2.3% over the next year, according to a report from FutureFoodservice founder Simon Stenning.

Despite economic headwinds, the report, called ‘Changing Landscape of the UK Hospitality/Foodservice market’, estimates that the total market valuation for all hospitality and foodservice to grow to £98.6bn, above pre-COVID levels for the first time.

However, it is believed the total number of outlets will reduce by 0.3%.

The report revealed that in 2022, there was a 27.6% increase over 2021 as the market was given room to breathe following the fall in disruption from COVID, despite the economic impact of the War in Ukraine.

Despite this, revenues in 2022 were still lower than in 2021 by 1.6%, and the report expects that nearly 1,000 sites will close.

“Volumes will remain muted in 2023, predominantly caused by macro-economic factors. However, there will be some increases in customer volumes returning from global inbound tourism, continuing returns to city centres, and from overall, general population growth”, the report said.


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