Fast Food and Takeaway Food Services in Australia industry trends

The Fast Food and Takeaway Food Services industry has reported revenue growth over much of the past five years. As consumers have increasingly demanded health and premium food products over the period, industry operators have responded by expanding their use of fresh and high-quality ingredients, and by introducing new ranges of healthier and premium products. Additionally, declining discretionary income over the past five years has discouraged Australian consumers from purchasing expensive food from restaurants, opting for lower cost food from industry operators instead. These trends have contributed to rising industry revenue over the three years through 2018-19.

Rising consumer demand for nutritious fast food is projected to drive revenue growth for the Fast Food and Takeaway Food Services industry over the next five years. However, ongoing health consciousness trends will likely hinder industry performance, especially for traditional operators, as consumers limit consumption of unhealthy food. Revenue is forecast to grow at an annualised 5.6% over the five years through 2027, to $25.62 billion. The addition of premium menu options is anticipated to support industry revenue growth, with a rise in household discretionary income supporting this trend. However, this forecast is dependent on economic recovery from the effects of COVID-19 pandemic, particularly on discretionary incomes.