New Food research report from Euromonitor International is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 12/10/2014 -- Full-service restaurants in Japan increased by 2% in current value terms to reach ?9,757 billion in 2013. The dynamic recovery in 2013 from the constant decline in the past decade was driven by premiumisation. Abenomics, which is the current Prime Minister Shinzo Abe?s economic policy, stimulated consumer spending across industries. Therefore, the number of consumers who are willing to increase their spending on dining out increased. Many consumers migrated from economy fast food to full-service restaurants in the middle and premium price range. To maximise the benefit of this trend, some full-service restaurant operators launched premium menus and successfully increased sales even though the unit price was higher than the regular menu.
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Within full-service restaurants, Skylark Group was the leading player with a value share of 3% in 2013. The company is one of the largest family restaurant operators with multiple brands such as Gusto, Jonathan and Bamiyan. The company recorded strong positive growth by launching a new menu and services in accordance with the key trends during 2013. Responding to premiumisation, the company launched foie gras on hamburger steak at Jonathan in the autumn of 2013 as a limited offer. Even though the unit price was relatively high compared with the regular menu, it was a huge hit. Due to the much higher demand than expected, the company launched another menu with foie gras and truffle in December 2013. The company also announced its strategic plan to renovate all of its Gusto outlets in the next four years. In contrast to the shrinking family size, the number of consumers in single-person households and elderly couples is growing. The company aims to attract these growing consumer segments by increasing tables for two people and introducing more comfortable chairs.
Full-service restaurants is expected to register a value CAGR of -1% at constant 2013 prices over the forecast period, driven by the growing home delivery/takeaway market. According to Euromonitor International?s Countries and Consumers database, single-person households accounted for some 33% of total households in Japan during 2013. These households consist of busy workers and elderly people who are unable to cook at home. As some consumers prefer eating at home rather than dining out alone, the demand for home delivery/takeaway is expected to rise. To incorporate the demands of single-person households, some full-service restaurant operators are expanding their dining options. For instance, Zensho Holdings Co Ltd, which owns multiple brands in full-service restaurants and fast food also owns a sushi-go-round brand Hamazushi. The brand recorded strong double-digit growth in 2013 by aggressively expanding its outlets offering a drive-through service. Customers can order sushi over the phone in advance and pick up it up for taking away. Even though the value share of drive-through within full-service restaurants in Japan remained negligible in 2013, drive-through is expected to increase sales by providing an alternative for consumers who are reluctant to eat sushi alone at sushi-go-round restaurants.
Discover the latest market trends and uncover sources of future market growth for the Full-Service Restaurants industry in Japan with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Full-Service Restaurants industry in Japan, our research will save you time and money while empowering you to make informed, profitable decisions.
The Full-Service Restaurants in Japan market research report includes:
- Analysis of key supply-side and demand trends
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Full-Service Restaurants in Japan?
- What are the major brands in Japan?
- What cuisine type (Latin American, Asian, North American etc.) is most popular in full-service restaurants in Japan?
- How prevalent is casual dining in Japan and how is this category expected to grow over the next five years?
- How fragmented is the full-service restaurant industry in Japan?
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- Track key industry trends, opportunities and threats
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