Takeaway food market to swell to £11.2bn within the next five years

Takeaway food market to swell to £11.2bn in five years

Total spending on takeaways in the UK will grow 13% over the next five years - reaching £11.2bn - a new report has predicted.

According to the Takeaway Economy Report, which uses data compiled by The Centre for Economics and Business Research – spending on takeaway food grew by 34% between 2009 and 2016 - to £9.9bn - and now equates to 12.1% of total spending on food. Since 2013, the number of takeaway outlets has increased by 10% - to 36,855.

The largest takeaway markets are in London and the South East, it says, which account for over a quarter (£2.7bn) of spending on takeaway in 2016 – up 5.5% from 2014.

However, the report stresses that the industry is buoyant across the country. Since 2014, the areas with the highest growth are Northern Ireland (21.3%) and the North West (13.2%).

The report, which was commissioned by food delivery business Just Eat for the British Takeaway Campaign, calls on the Government to support an industry that will create 30,000 more jobs by 2021, equating to a nationwide workforce of 261,000 – up 37% on 2010. It says demand for takeaways is estimated to have added £4.5bn in value to the UK economy in 2016 – a figure which is expected to rise to £5.1bn per year by 2021.

“Takeaway restaurants sit at the heart of our high streets and communities, and are an engine of economic growth,”  says Graham Corfield, UK managing director at Just Eat. “From familiar names to small, independent restaurants, takeaways are embracing new technologies and adapting rapidly to consumers’ appetite for better food and greater choice.”

The report highlights key areas in which the Government can support the industry, including on business rates – with a poll showing 35% of operators believe that they will be negatively affected by the recent review of the business rates regime.

Recruitment remains the biggest concern for operators, however, according to the report.