Catering Industry Booming in the UK
The hospitality industry is the third biggest employer in the UK and continues to grow at around 2% per year. (UK hospitality.org.uk). Revenue wise the industry is seeing revenue increasing by 1% consistently year on year. In fact a report from UK hospitality states that since the economic downturn in 2017 the hospitality GVA has grown faster than any other industry in the UK. So, there is an element of certainty regarding growth in the catering industry.
With additional dietary requirements for vegetarian and vegan, as well as a continuing need for nut and gluten free comes greater scope for specialism leading to growth and additional employment. Any restaurant offering these meals needs to ensure that they are consistently well monitored and only include the ingredients that the diner expects. This in turn easily jumps to additional work stations and increase in purchasing of equipment as restaurateurs strive to be the best in the sector and keep meat products separate from the increasingly large market share of vegan and vegetarian. Whilst of course allergy sufferers need confidence that the food does not contain any allergens.
These increases in turn lead to increases in the equipment manufacturing industry and there is scope for good commercial kitchen designers to benefit from the trend as well.
The market is not just booming in one area, as well as eating out, people are ordering more takeaway and fast food outlets continue to grow. Pubs are a good example of signs of growth since early 2019. There are a number of reasons cited for this depending on where you look, but the increase in craft beers and better tasting none or low alcohol beers is bound to be a contributory factor. Also, pubs up and down the country have been re-invented as breweries and landlords strive to get ahead watching the market trends carefully with the intention of being trend setters rather than followers. The years prior to 2019 saw pubs relying increasingly on their food sales with most returning 52% or more of their revenue from food. Increasingly, the trends are changing, in cities wet sales are fighting back whilst country pubs continue to draw on their charms as family friendly or dog friendly locations and by offering good food. Either way, this is all good news for the catering industry as Pubs enjoy a continuing resurgence in popularity.
The catering industry does appear to be growing across all sections and this has a positive effect to those on the periphery of the industry.
If you own a Catering business and are looking for Catering Insurance, get in touch with us.
https://www.ukhospitality.org.uk/page/EconomicContributionoftheUKHospitalityIndustry2018 (accessed 8th March 2020).
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