Australian Food Service Market

Australian Food Service Market Size (2024 to 2029)

The food service market in Australia is estimated to reach USD 80.7 billion by 2029 and record a CAGR of 5.1% during the forecast period.

Independent restaurants in Australia have a strong presence in the market in terms of the number of restaurants. The restaurant or food service industry includes all companies that offer meals prepared outside the home, such as restaurants, school and hospital cafes, and food outlets. In Australia, hiring and retaining employees is becoming a major problem for gamers in the restaurant industry.

There are several opportunities in the Australian food service market, given the increase in the number of people eating outside the home and the increased interest in specialized specialty products on the market. Among Australian consumers, the most popular cuisines are Thai, Vietnamese, Japanese, Indian, Mexican, Chinese, Italian, and Korean. Australians consume outside food at least two to three times in a week, which is about 50 million meals a week. McDonald's, KFC, Domino's, Red Rooster, Subway, Hungry Jacks, etc., are among this nation's most prominent fast-food services. Among these, McDonald's was a consumer favorite, followed by KFC, fishmongers, and restaurants serving Asian dishes. Nevertheless, the number of consumers has increased in recent times, who are altering their consumption designs from fast food to healthy food. Food chain operators have grown consistently and positively during the review period and are expected to continue to grow year after year during the forecast period.

Impact of COVID-19 on Australian food service market:

Covid-19’s impact on the food and beverage sector is immense. The strict government implementations like lockdown in Australia resulted in the shutdown of manufacturing units and distribution channels, affecting the foodservice market to its deepest. The same is likely to continue until the end of 2020 as consumers prefer to consume foods prepared at home rather than going out. This will be a major threat to the food service market, and it is estimated that it will take some time in the future to recover.

This research report on the Australian food service market has been segmented and sub-segmented into the following categories.

Australian Food Service Market - By Place Type:

• Full-Service Restaurants
• Quick Service Restaurants
• Food Junctions Cafeterias/buffets
• Bars and Managed Food Service

Australian Food Service Market - By end-user:

• Industrial Premises
• Commercial and Office Premises
• Hospital & Nursing Homes
• Educational Premises (Colleges, Universities, Schools)
• In-transit Food Service (Airlines, Trains)
• Sports Centers/Malls

Based on place type, full-service restaurants had a significant share in 2017 and recorded a notable CAGR during the envisioned period. In contrast, the market share of fast-food restaurants is constantly increasing due to the rise in urbanization and the hectic lifestyle of the population living in urban areas. As the government creates a complex regulatory landscape, restaurateurs focus more on the quality of food and services.

Regional Analysis:

The total number of restaurant chains and food service providers is increasing exponentially. This is also identified in developed nations like Australia. Several foreign and local food brands are entering new marketplaces to expand their activities and gain a competitive edge in this industry. Over the review period, Domino’s continued to grow its occurrence in Australia and had 693 points of sale across the country in 2019. Chain operators have shown steady positive growth during the review period and are expected to continue to grow year after year during the estimated period.

Key Market Players:

McDonald's, Domino's, Pizza Hut, KFC, Subway and Hungry Jack's (Burger King) are leading players in the Australian food service market.