Romania has the second largest market potential in Eastern Europe. Unlike other European countries, the Romanian economy has flourished in recent years, with a per capita GDP YoY growth of 3.0% between 2015 and 2016. Similarly unemployment rates have fallen below EU and Eastern European averages creating a rapidly growing middle-class.
Romanian profit sector as a whole is becoming an increasingly attractive proposition for international foodservice operators with strong economic growth and a growing middle class being a notable contrast to other stagnant European Union member states. Relatively average profit sector growth of 1.1% between 2014 and 2016 is set to accelerate to 3.3% over the next five years as higher levels of discretionary income allow for more out-of-home meal occasions.
QSR represents the largest foodservice channel in Romania following positive value growth of 1.2% between 2014 and 2016. As of 2016, the channel was valued at RON 4.9 Billion, this is expected to rise to RON 5.7 Billion in 2021 as a result of accelerated CAGR growth over the next five years.
Romania’s FSR channel has experienced relatively slow value growth compared to other channels, as consumers show a reluctance to up-trade their QSR meal occasions. With price being cited by 46% consumers as the factor most influential in their foodservice decision, consumers are, for now, keen to continue seeking out the cheapest meal solutions.
Romania’s pubs, clubs and bars channel has experienced relatively strong value growth in recent years, suggesting the channel has yet to reach saturation point. The channel’s size can largely be explained by its universal appeal, with cheap alcohol resonating well with both rural and urban consumers.
While the channel’s current position as the “default” destination for socializing will become increasingly threatened by on-trend coffee and tea shops, future growth over the next five years is forecast to be strong. From 2016 to 2021 the channel is expected to experience a CAGR of 3.9%, allowing it to remain Romania’s largest foodservice channel.
The report Romania - The Future of Foodservice to 2021 provides extensive insight and analysis of Romania’s Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.
In particular, this report provides the following analysis -
Overview of the Romanian macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on Romania’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
Growth Dynamics: In-depth data and forecasts of key channels (QSR, FSR, Coffee & Tea Shops, Pubs, Clubs and Bars) within Romania's foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
Customer Segmentation: Identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Romanian population.
Key Players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
Case Studies: Learn from examples of recent successes and failures within the Romanian foodservice market.
Companies mentioned in this report: McDonald’s, KFC, Salad Box, Domino’s Pizza, Subway, SpringTime, Spartan, Soup Up!, Pizza Hut, La Placinte, Trattoria IL Calcio, City Grill, La Mama, Starbucks, 5 To Go, Zvon Café, Tucano Coffee, Second Cup, Origo.
Recent substantial economic growth has fuelled an expanding middle class across Romania, opening up the potential for greater out-of-home meal occasions among consumers.
Increased interest in American brands and the aspirational lifestyles they represent are gaining popularity among younger, image conscious urbanites. This significantly benefited trendy brands such as Starbucks, which holds a 14% share of the coffee and tea shop market.
A consumer trend towards “healthy indulgence” has facilitated the rapid growth of health focused QSR operators such as Salad Box, although there is evidence to suggest a notable attitude-behavioural gap still exists in the market.
Reasons to buy
Specific forecasts of the foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea shops, Pubs, Clubs and Bars) will allow readers understand the wants and needs of their target demographics.
Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the Romanian foodservice market.