The international tourism consumption of takeaway and restaurant meals in Australia has shown significant variation over recent years. From 2013 to 2019, the sector experienced steady growth, with occasional dips such as in 2018. The period of 2020 marked a severe downturn by -42.31%, primarily due to the COVID-19 pandemic. However, a strong rebound followed in 2021 with a remarkable increase of 65.36%, stabilizing to moderate growth rates into 2022 and 2023. By 2023, the value stood at 4.36 Billion Australian Dollars. Over the last five years, the CAGR has averaged 3.02%. Moving forward, the forecast from 2024 to 2028 indicates a stable growth trend with a 5-year CAGR of 2.01%, leading to an expected 10.48% cumulative growth by 2028.
Future trends to watch for:
- Potential impacts of global economic conditions and travel restrictions on international tourism.
- Emergence of digital and contactless dining solutions influencing consumer behavior.
- Growing interest in locally sourced and sustainable food choices shaping the industry offerings.