Market Trends of Australia HRI Industry
This section covers the major market trends shaping the Australia HRI Market according to our research experts:
Growth in Chained Consumer Foods Restaurants in Australia
Globally, there is a rise in the number of chained consumer food service restaurants. This trend is also reflected in Australia. Several international brands and food joints are exploring new markets and penetrating into the existing ones, in orderto expand their business activities and gain a competitive advantage. Thus, several players, like McDonald's, Domino's, Pizza Hut, KFC, Subway, and Hungry Jack's (Burger King), are continuously engaged in developing their market cap by opening new outlets around Australia.Over the past decade, Domino's has continued to expand its presence in Australia, and had 693 outlets located across the country, as of 2018.
Home Delivery and Takeaway To Grow At The Fastest Rate
The market studied is majorly driven by robust consumer reliance on the overall food home deliveries through platforms, such as Menulog, UberEats, Deliveroo, and Foodora. As per the research conducted by finder.com.au, Australians spend around USD 2.6 billion each year on food and drink delivery. The statistic offers promising business for 100% home delivery restaurants operating in the country. Nonetheless, takeaway restaurants are gaining popularity among service providers for being able to cut numerous costs, from labor to space rent, while earning significant revenue in exchange. Many entrepreneurs are establishing startups dedicated to contribute in the segment sales. One such initiative is FoodByUs, which allows home cooks to collaborate and boost their food deliveries through online channel. Notably the segment is projected to grow at a CAGR of 5.24 during the forecast period.
