London, May 22nd,
2012 – In 2011,
the profit sector contributed 83.1% to Hungary’s total foodservice sales and
registered a sales growth with a CAGR of 0.42% over the review period. The cost
sector accounted for 16.9% of Hungary’s total foodservice sales in 2011 and
recorded a sales growth with a CAGR of 3.90% over the review period (reference see
graph below). Restaurants were the largest contributor to total foodservice sales in
the country, with a share of 40% in 2011. The largest channel in the cost
sector was healthcare foodservices, which contributed 46.1% of total cost
sector sales.
GDP growth and a rise in disposable
income have been major factors for the growth of the Hungarian foodservice
industry, and this trend is expected to support the industry in the forecast period.
The economy suffered a decline in GDP and disposable incomes during the global
financial crisis, and consumers decreased spending on foodservice outlets,
which continued until 2010. However, as the economy has started recovering,
consumer confidence has increased, resulting in more transactions in
foodservice outlets.
An aging population is fuelling demand
for healthy, nutritious, and organic food in Hungary, as the elderly population
is more susceptible to lifestyle related disorders. Many foodservice operators
have already included, or are in the process of including, healthy and
nutritious menus in both the full-service and fast-food and snack formats.
The number of households in Hungary
increased from 4.02 million in 2006 to 4.05 million in 2011. This is mainly due
to an increase in the number of single person households. In recent years,
Hungary has also witnessed a rise in the number of working women. These
demographic developments have resulted in fast paced lifestyles and increasing
demand for time saving food options.
More and more Hungarian consumers are
opening up to experience the flavors of
international cuisines. Italian,
Chinese, and Greek cuisines are the most favored among Hungarians. These are followed by Mexican, French, and Indian cuisines.
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