Industry news

“MAPIC Food served us some ‘food for thought’ this week” 


 

#MAPICFood started and came to end this week for a second consecutive year and as we returned home from Italy, we realised once again that food and beverage is not only here to stay when it comes to property and retail, but it will only grow stronger as we see more new food & beverage concepts emerging.

As a result of its growth, the #F&Bsector has attracted increasing investment from funds and private equity. In Milan this week, Vincent Mourre, CEO and co-founder, Whitespace Partners, pointed to €17bn in acquisitions during this and last year, including #CocaCola for #CostaCoffee, #Permira for Hana Group and Restaurant Group for #Wagamama among the major deals.

#Darkkitchens are the next big industry disruptor around the world and it couldn’t remain untouched at #MAPICFood. The trend was discussed in a conference session featuring key players from the industry such as #Deliveroo, #UberEats, #Glovo, #Amrest and #OracleF&B. Europe could host as many as 5,000 dark kitchens, servicing 200,000 restaurant brands, within five years according to Stephane Ficaja, General Manager Northern and Southern Europe at @UberEats. He recognised that dark kitchens “is a massive opportunity” and it’s not surprising considering apps now account for 39% of delivery visits – a rise of 14% year-on-year – and the takeaway industry has grown to be worth £4.9bn – according to consumer research firm NPD, as #BBC reported a few weeks ago.

At the same time casual dining restaurants are closing down and their place takes a new wave of food halls that have become the hottest place to eat. Market Hall will open its fourth venue at Canary Wharf’s Crossrail Place in 2020, following its announcement earlier this spring about the opening of the UK’s largest food hall in the former BHS in #London’s #OxfordStreet in the summer. Market Halls’ success and rapid expansion is hard evidence of consumers’ desire to still go out and share experiences.

Whilst the increase of online shopping is making waves in the high street, F&B concepts is a great opportunity for landlords to rethink their leasing strategies and ensure their assets respond to the consumer’s need to have access to a good selection of food offer when visiting retail environments. At the end of the day, choice is king!

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