Food & Beverages

Ingredient Opportunities in Foodservice

  • CAN376805
  • 63 Pages
  • February 2015
  • Food & Beverages
Summary
The global foodservices industry is estimated to generate over $10bn per annum through a variety of outlets including restaurants, fast food, hotels, leisure and healthcare facilities. Competition is fierce and companies continue to develop new strategies to target the needs of different consumer segments, from vegetarians to those seeking healthier options.


Synopsis
- Assess consumer attitudes towards eating and drinking out of the home and identify the demographic segments most engaged with foodservice.

- Analyze trends in the foodservice market and identify new ingredients that have been used to make healthier meals.

- Evaluate the drivers for growth, from special diet demands for 'free-from' foods to ethnic ingredient options.

- Use detailed UK market data to consider the value of the foodservice market and the opportunities worldwide.

- Analyze data illustrating the demand for foreign cuisines.

ReasonsToBuy
- What specific ingredient opportunities exist in foodservice to target specific consumer segments?

- What factors influence consumer food choices and how are ingredient manufacturers addressing these needs?

- How do consumers snack, and how can foodservice cater to such demands?

- What is the value of the UK foodservice industry?

- What ingredients are emerging to satisfy consumer demand for gluten- and allergen-free products and who are the leading manufacturers?

Key Highlights
In the US consumers spend almost half of their food expenditure in foodservice outlets. In the EU this figure is closer to one third. For example, in the UK people spend around 60% of their food expenditure at home compared to around 75%-80% in Italy, due to cultural attitudes about eating away from the home as well as the economic environment.

Gluten-sensitive consumers are very loyal and an important driver behind consumer restaurant choices. According to one major UK restaurant chain, gluten-sensitive consumers will often drive the selection of a larger group's restaurant choice, based on their individual needs.

Attitudes towards snacking has important implications for the fast food industry, the fastest growing segment of the foodservice market. Around a quarter of consumers (25.2%) snack between breakfast and lunch, over two fifths (44.4%) eat between lunch and dinner and over a quarter of people (27.8%) munch between dinner and bedtime.
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