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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