In the F&B sector, there is something for everyone, from starred restaurants to fast food outlets and new emerging concepts. This diversity of properties meets the needs of all types of customers, whatever their age, budget, eating habits or desires. Aware of the evolution of the expectations of these customers, the industry players are constantly rethinking and renewing their offers to keep up with the times. Fast food, gourmet restaurants, food courts and CSR are thus on the menu of this second part of the analysis.
To read the first part of this analysis on the F&B sector, click here.
Fast food is gaining ground
According to the Speak Snacking 2023 study, the fast food sector has a turnover of €23,400 million, an increase of 19% compared to 2019, and now has 51,500 outlets, an increase of 17% compared to 2019. These figures clearly demonstrate the dynamism but also the resilience shown by this rapidly expanding sector on the French market. A growth that does not falter and this despite the recent increase in raw materials and energy.
"The sector has once again shown its resilience in the face of a succession of crises... the new social crisis that we are experiencing is weakening the whole sector. In this uncertain and tense context, the fast-food industry is doing well thanks to its ability to adapt," says Béatrice Gravier, Director of the Sandwich & Snack Show / Parizza. Indeed, although consumers' purchasing power is decreasing, their appetite for eating out remains unchanged. However, they are adapting to price changes, with 42% continuing to go to restaurants but less regularly and 25% choosing to reduce the amount of the bill.
This undiminished popularity is also confirmed by the 2023 "Restaurants 25" report by the independent brand valuation consultancy Brand Finance. Starbucks is in first place, with a 17% increase in brand value to $53.4 billion by 2022, widening the gap with McDonald's Corp, the second most valuable restaurant brand.
The brand with the famous clown saw its brand value fall by 7% year-on-year to $36.9 billion. The decline was partly due to price increases caused by supply chain issues and inflation. The report's forecast for McDonald's is not so bleak, however.
Among the other top five performing restaurant brands, we find KFC in third place, followed by Domino's...
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