One of the main concerns set to dampen growth over the forecast period is menu prices, with affordability expected to be one of the key factors to boost demand from 2023 to 2028. Restaurant owners will be forced to focus on strategic sourcing of products, while finding innovative methods to reduce waste.
Functional foods are ingredients that provide an extra health benefit beyond nutritional value, including mental and emotional wellbeing and stress relief. With more consumers interested in elevating anxiety, many are looking to explore food and beverages that help fight depression and anxiety, ward off dementia and support brain health.
The labour shortage is one of the biggest issues that will challenge the restaurant industry across the forecast period. The reduced number of weekly hours (from 40 – to 20) that international students are legally allowed to work has aggravated the crisis, particularly in the restaurant industry.
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Limited-Service Restaurants
Limited-Service Restaurants (LSR) combine fast food and 100% home delivery/takeaway outlets. These outlets offer limited menus with items that can be prepared quickly. Customers typically order, pay, and pick up their order from a counter, though some outlets can have limited table service. This also includes 100% Home Delivery/Takeaway which provide no facilities for consumption on the premises. LSR tend to specialize in one or two main entrees such as hamburgers, pizza, or chicken, but they usually also provide drinks, salads, ice cream, dessert, etc. Food preparation is generally simple and involves one or two steps, allowing for kitchen staffs generally consisting of younger, unskilled workers rather than professional chefs. Other key characteristics include: • A standardised and restricted menu • Tight individual portion control on all ingredients and on the finished product • Individual packaging of each item • Counter service • For Chained Limited Service Restaurants, chained and franchised operations which operate under a uniform fascia and corporate identity • Any outlet offering full-service restaurant seating with servers would be excluded, even if delivery service is available.
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