Romania's food and beverages (F&B) market is growing by an annual pace of 10 percent and could reach 5 billion euros by 2022 - 2023, reveals the "Food and Beverage: Romania Market Report" by Cushman & Wakefield Echinox.
According to the centralized data, the six analyzed categories (fast-food, cafes, pastry shops, food & bar clubs, fast casual and fine dining) have had an upward trend between 2014 - 2018, with the average annual growth pace ranging between 15.2 percent for fine dining operators, and 32.7 percent - for coffee shops.
"We expect the development of this segment to continue in the coming years, and with an average annual growth put at 10 percent, the revenues of the F&B industry will top the 5 billion euro threshold by 2022 - 2023," says Vlad Saftoiu, research analyst at Cushman & Wakefield Echinox.
In the view of Cushman & Wakefield Echinox experts, the online ordering platforms represent a key factor for the development of this industry, as they are expected to expand strongly in almost all counties, given that operators such as Uber Eats, Foodpanda or Glovo already have a strong presence in Bucharest and in the big regional cities.
The Cushman & Wakefield Echinox report looked at 73 operators that run approximately 700 units nationwide and which recorded a combined turnover of 650 million euros in 2018, accounting for about 20 percent of the local F&B market, according to data made available by the Ministry of Public Finance.