Dublin, Sept. 02, 2024 (GLOBE NEWSWIRE) -- The "Asian Restaurants in the UK - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Industry revenue has declined at a CAGR of 2.3 % over the past five years, to reach an estimated £7.3bn in 2024.
Industry revenue is falling at a compound annual rate of 1.7% over the five years through 2024-25 to approximately £7.5 billion, including growth of 1.9% in 2024-25.
Asian restaurants serve a wide range of Asian cuisines, including long-standing British favourites such as Indian and Chinese, as well as other flavours that have gained popularity in recent years, such as Japanese and South-East Asian cuisines. Economic factors, like discretionary spending and shifting consumers' tastes influence the level of demand at any given time.
Trends and Insights
- Shift in tastes strengthens Japanese and Vietnamese cuisines.
- These cuisines are benefitting from a growing focus on nutrition, with more health-conscious consumers gravitating towards these options, leading to an increase in their popularity. Tightened purse strings squeeze dine-in revenue. Persistent inflationary pressures have reduced customers' disposable incomes for dining out, causing them to dine out less frequently.
- London boasts affluent, ethnically diverse crowds.
- Its high per-capita disposable income and a large Asian population creates a lucrative market for Asian restaurants. Profitability hinges on strategic differentiation and substantial investment.
- Restaurants set themselves apart by creating a distinct Asian cuisine experience at a specific price point while capital expenditure goes into quality kitchen equipment, fitting, furnishings, decor, as well as bar equipment for those offering drinks and cocktails.
- Growing demand for other Asian cuisines pushes the industry to innovate For decades, Chinese and Indian cuisine dominated the industry, with these restaurants proving to be a firm favourite among diners seeking an affordable meal out.
- Rebounding spending will boost growth
- Diners across the country will gradually spend more on eating out in the short- to medium-term as the cost-of-living crisis eases and inflation subsides, boosting industry revenue growth.
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Major Markets
- Globalisation & Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Barriers to Entry
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/83z1pz
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
