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Eating out market forecast for 4.6% growth

June 6, 2023
Articles,Industry News
New data from Lumina Intelligence shows a forecast of 4.6% growth for 2023, compared to 2019.

The annual UK Eating Out Market Report indicates that the industry is expected to reach a total value of £95.2bn this year.

Off the back of recent data which has shown promising market penetration and increased consumer confidence, the report, which outlines current trends and future prospects for UK restaurants, states that consumer spending power is expected to improve towards the end of 2023. With easing energy bills, the industry can expect plenty of future growth, according to Lumina Intelligence.
Group enjoying a meal out in a restaurant

After years of closes across the industry, new openings are forecast to be higher than closers this year, giving a compound annual growth rate of +0.3% from 2023 to 2026. Outlets like coffee shops, fast food and bakery are leading the charge by capitalising on opportunities in diverse locations including travel hubs, high street and out of town destinations.

Find the full report at Lumina Intelligence.

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