Industry Analysis & Industry Trends
Changing social trends have fuelled a recovery of the Restaurants industry over the past five years. Bouncing back from a low point during the global financial downturn, the industry posted annualised growth of 5.6% over the period. Performance was solid in 2013-14, with the industry growing by 3.1% to $11.4 billion. This strong growth, although somewhat attributable to a bounce after losses during the global financial crisis, can also be attributed to changing social trends. Busier lifestyles, longer hours at work and an increasing squeeze on leisure time have led more and more consumers to turn to restaurants as a solution. Restaurants have allowed consumers to combine mealtime with leisure and avoid the time involved in food preparation... purchase to read more
Industry Report - Industry Key Buyers Chapter
The Restaurants industry has a low level of concentration. The industry is highly fragmented, with a large number of single establishments and owner-operated restaurants. IBISWorld estimates that the industry's largest players account for less than 2.0% of revenue and this is not expected to change over the next five years. The industry is comprised mainly of small businesses, with the majority employing less than 20 people. Revenue for these smaller businesses is, however expected to be significantly less relative to larger enterprises. Very few businesses in the industry employ more than 100 people, with the majority of those that do located in New South Wales and Victoria.
The low level of concentration in the industry has resulted in fierce competition among operators... purchase to read more