C&W Echinox: Romania Ranks Second In Europe By Food & Beverage Consumption Growth

In Europe, the equivalent of EUR796 billion was spent in the F&B sector and the average growth rate of this market in the past decade was 4.2% a year. For the next decade (2017-2026), Cushman & Wakefield estimates an average annual growth rate of 4.9%.

Spain, UK, Italy, Germany, and France were the top five F&B markets in 2016. The Spanish market reached EUR120 billion, accounting for 15% of consumer spending on eating out on a European level.

On the other hand, markets in Central and Eastern Europe, such as Turkey, Romania, Bulgaria, Poland, and Ukraine, recorded and will maintain a growth rate above the European average. Romania ranks second by growth rate in the past decade, with an estimated annual growth of 7.2% and is expected to growth by an annual average of 8.8% over the next decade.

“The modern world, including Romania, is going through a paradigm shift. If a few years ago people used to buy clothes in town or at the mall and eat at home, lately people have started shopping online and eating out more. In dynamic markets, like Romania, with record economic growth and double-digit wage growth, these trends are quickly embraced by young consumers and restaurant and cafe owners benefit from this positive context,” said Cristi Moga, research consultant at C&W Echinox.

The ten largest shopping centers in Romania include around 250 F&B units, covering a lettable area of more than 40,000 square meters and accounting for around 6% of the lettable area of shopping centers analyzed, Cushman & Wakefield Echinox data showed.

 

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.