The branded restaurant sector has been estimated to grow by £5.6 billion to £22 billion by 2018, according to the Project Restaurant Report by Allegra Strategies.
The figures, which look at dining restaurants, pubs and fast food outlets, has suggested that turnover in the sector is estimated to hit £16.4 billion in 2013 alone. In total, the report highlighted that branded outlets have seen turnover rise by 35 per cent since 2007, the branded market will hold 43 per cent of the eating-out market by 2018 and that branded pubs will represent half of the total branded restaurant market by 2020.
Anya Marco, director of insight at Allegra Strategies, suggested that the changing of households' eating habits means that companies with all-day dining will probably lead the way over the next five years. Ms Marco said: “The ability to eat out at any time of day is leading to a change in day-part frequency as consumer visits at breakfast are growing, while lunch and dinner are under pressure. The slow economic growth is less impactful than feared, though consumers are employing various money-saving tactics in order to maintain their eating out habits."
With such positive signs for the restaurant market, this is undoubtedly good news for hospitality recruitment across the UK, especially in pub-restaurant chains, which are forecast to turn over £7.6 billion this year. Fast food outlets meanwhile will also benefit from this flexible eating; this sector being valued at £4.5 billion in the report.
Ms Marco signposted restaurant brand Giraffe as a good example of casual sites which offer all-day menus. She did note however that companies must also be careful that they still remain relevant to customers that may be looking for something particular as they could lose out on this potential consumer base.
Berkeley Scott is a specialist recruitment agency providing chef recruitment solutions.