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
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