Romania: Second in Europe in terms of growth of the F&B sector

Romania ranks second in Europe, after Turkey, in terms of growth and growth potential in the Food & Beverage sector, meaning consumption in restaurants, fast food, cafeterias, tearooms and ice-cream shops, according to a study.

In Europe, the equivalent of EUR 796 billion was spent last year in the F&B sector, with the average growth rate of the market in the last decade at 4.2% per year.

For the next 10 years (2017-2026) an average growth rate of 4.9% per year is estimated.

Spain, the UK, Italy, Germany and France were the top five F&B markets in 2016, as Spain, the market leader at European level, reached the market of 120 billion euros, accounting for 15% consumption at European level.

On the other hand, markets in Central and Eastern Europe, such as Turkey, Romania, Bulgaria, Poland and Ukraine, have and will maintain a rhythm of growth over the European average, according to the Cushman & Wakefield study.

Romania ranked second in terms of growth rate over the past ten years, estimated at 7.2% per year, and is now on the same position, with a growth potential for the next decade, the average growth rate being estimated to a yearly 8.8%.

"The modern world, including Romania, is undergoing a significant change of paradigm.

If only a few years ago we used to buy clothes from the Mall and eat at home, later on we started to buy things, including clothes, online, and go out to dine in the city or at the Mall.

In dynamic markets such as Romania, with a record economic growth and a wage raise of more than 10% a year, these trends are quickly embraced by young consumers, and the restaurant and cafeteria operators benefit from this positive context, "said Cristi Moga, Research Consultant C&W Echinox.

Source:RRA.Translated by Miruna Matei