Czech Republic - The Future of Foodservice to 2024

Czech Republic - The Future of Foodservice to 2024

Published: December 2020
Publisher: GlobalData
Product ref: 320030
Pages: 125
Format: PDF
Delivery: By product vendor

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Summary

"Czech Republic - The Future of Foodservice to 2024” published by GlobalData provides extensive insight and analysis of the Czech Foodservice market over the next five years (2019-2024) and acts as a vital point of reference for operators or suppliers. The report includes:

The overall value of the Czech foodservice profit sector grew at a CAGR of 3.1% between 2014 and 2019 and valued at CZK419.3 billion in 2019. The growth of the profit sector in the Czech foodservice market in recent years has been predominantly driven by an increasing amount of transactions. Both sales and transactional growth are expected to grow at a lower growth rate during 2019-2024, as a result of the current economic climate. The profit sector is further forecast to value to CZK437.6 billion in 2024, registering a CAGR of 0.9% during 2019-2024.

Overview of the Czech Republic's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Czech foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.

Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR and Pubs, Clubs and Bars) within the Czech Republic's foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.

Customer segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Czech population.

Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

• The Czech foodservice profit sector generated total revenue of nearly CZK419.3 billion (US$18.6 billion) in 2019. An accelerated growth of the economy during the review period, driven by improvement in the domestic demand and strong focus on increasing the private sector, leading consumers to afford regular visits to foodservice outlets.
• Both sales and transactional growth are expected to contract during 2019-2024, as the economic climate, will be negatively affected by COVID-19 leading to a contraction in consumer spending. Outlets witnessed a decline in growth rate during 2014-2019 due to increased market saturation, with consumers being given an abundance of choice between restaurant brands, formats, and cuisine types. However, foodservice outlet presence in urban areas continued to increase in the Czech.
• Digitalization, home delivery, and online shopping trend have created an intense impact on foodservice consumers in 2019. For instance, KFC launched a click-and-collect service, enabling customers to order online and pick up their orders at their restaurants, while also introducing self-service kiosks throughout its more than 100 restaurants. In addition, the prevalence of home delivery in the Czech foodservice profit sector channels is expected to continue to grow due to changing lifestyles and changing consumer eating patterns post COVID-19. Operators will be forced to modernize and digitize their operations and have an online presence to meet customer demand.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2019-2024) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR and Pubs, Clubs and Bars) will allow readers understand the wants and needs of their target demographics.

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Related research categories

By sector: Catering (in Foodservice/Catering)

By market: Czech Republic (in Europe)


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