Portland, ME - Despite their long-reigning presence as the kings of takeout food, fastfood restaurants can expect to lose about 4 points of market share in the takeout segment during the next 10 years -- losing ground to supermarkets and fullservice restaurants. That's the quick-and-simple conclusion of Takeout Business magazine's July 15 cover story, “Fastfood hangover: Quickservice restaurants aren't reaching for the aspirin yet -- but they will be.”
The story by associate editor Einar Torbjornsen was based on research conducted for Takeout Business by Chicago foodservice-consulting firm Technomic Inc. According to the study, the takeout market is expected to grow by 55% in the next 10 years -- from $126.4 billion last year to $195.4 billion in 2007. But the fastfood segment, which is expected to claim $112.6 billion of the total (up from $77.4 billion in 1997), is actually losing market share in the process.
The study shows that fastfood's market share of 61.2% last year will drop to 57.6% by 2007, a loss of almost 4 market-share points. Supermarkets, on the other hand, will gain over 3 points -- almost doubling 1997 takeout sales of $14.8 billion to $29.1 billion in 2007. Takeout sales for fullservice operators will increase from $14.4 billion to $25.8 billion, up about two points in share.
In a sidebar to the cover story, “Why have chicken chains flown the coop,” Takeout Business examines the riches-to-rags lifecycles of Boston Chicken, Harvest Restaurant Group, Kenny Rogers Roasters and Koo Koo Roo California Kitchen.
Meat Industry Insights News Service
P.O. Box 553
Northport, NY 11768
Phone: 631-757-4010
Fax: 631-757-4060
E-mail: sflanagan@sprintmail.com
Return to Home Page