New Report Available: Full-Service Restaurants in Spain

The continuation of the economic recession affected the sales of full-service restaurants in 2013. With the Spanish economy closing in red numbers and unemployment remaining at 27% of the active population, a large number of Spanish consumers opted to maintain very rational spending habits. A reduction in leisure spending and more free time spent in the home were amongst the key initiatives carried out by consumers in order to maximise their disposable incomes. In addition, Spaniards increasingly opted to take a Tupperware of food to work for their lunch break, and avoided going to restaurants during work hours, which was common practice in the years of economic prosperity. This factor strongly negatively affected visits to full-service restaurants during 2013.

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Competitive Landscape

2013 followed a similar trend as was seen throughout the review period, with Spanish full-service restaurants dominated by independent outlets. Independent operations accounted for 98% of the total number of outlets and 95% of value sales in 2013. Chained outlets, which, according to Euromonitor International’s definition must have at least 10 outlets, accounted for a very small percentage of total sales. However, in recent years, the tough time in consumer foodservice in general, and full-service restaurants in particular, led owners to be very careful when it came to opening a new independent full-service restaurant, with many choosing to invest their money in a franchise of a chained brand, in order to make their investment safer.

Industry Prospects

The Spanish economy is expected to witness very slow economic recovery during the forecast period. GDP is expected to see low growth in 2014, and slightly faster growth in 2015. However, unemployment is likely to remain over 20% until at least 2017. In order to sustain the recovery, new measures will have to be applied, which could result in further tax rises, or even an increase in VAT. All these factors together will continue to put pressure on the average consumer, as they will cause disposable incomes to shrink further, forcing Spaniards to prioritise essential spending. This will limit the performance of full-service restaurants, which is set to see a negative value CAGR of 1% at constant 2013 prices over the forecast period.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Full-Service Restaurants industry in Spain 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.

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