The Restaurant sector in Qatar which was earlier registered by franchised American concepts is observing the development of several home-grown concepts propelled by companies such as Food Service Company and more. The sector has flourished owing to the existence of a variety of outlets in the country that serve cuisines from all around the world to all customer segments.
According to the report analysis, ‘Qatar Retail Restaurant Industry Outlook to 2025 – Hosting of FIFA World cup 2022 is Anticipated to Drive Number of Domestic and International Visitors’ states that Qatar Retail Restaurant Industry has deducted at a CAGR of 0.4% on the basis of revenue and a CAGR of 1.9% on the basis of the number of retail outlets over the duration of 2014-2020. The negative CAGR represents the impact of COVID-19 on the industry during 2020 but the market is estimated to revive in the forthcoming 1-2 years due to FIFA World cup 2022. Foremost growth drivers of the industry are largely young and urban population, the effective growth in disposable income of people, heavy tourist traffic, Construction of Malls, Purpose Built Entertainment Facilities and continuing sporting events in the country.
The Qatar Retail Restaurant Industry is quite split and No First-mover Advantage is evident in any type of Outlets in Restaurant Industry across Qatar. In this space, More than 2,000 Restaurants are challenging basis multi-cuisines, end-user dedicated services, great ambiance & superiority food, and more. The worth of Mouth has played a significant role in expanding many outlets around Qatar such as The Cheesecake Factory, Asha’s, Volume Cafe. Moreover, Franchised American Brands likewise Fat Burger, Starbucks are extremely widespread and many Qatari Groups such as Food Service Company are developing new In-house Restaurant Chains/ Brands.
Based on the geographical location, the restaurants in Qatar are majorly concentrated in parts of Al Rayyan, Doha, Al Gharafa, Dafna, West Bay, Pearl Qatar, and many more. Most Number of the outlets that are focused in Al Gharafa and Dafna/ West bay, Pearl Qatar earns higher revenue than other locations. Some of the Prominent Outlets are Diet House, Coffee Time, Pool Grill, and Hwang & many more.
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Not only has this, the Retail Restaurant Industry is projected to flourish in Qatar with the effective growth in income levels and per capita expenditure levels of consumers. It is projected to observe a CAGR of 6.9% in terms of revenue during the forecast duration of 2020-2025F. The government as well as assisting the industry under Qatar National Vision 2030 to motivate the local companies to enlarge into regional and international markets. Moreover, the FWC event during 2022 will enable ample opportunity for incumbents to increase the utilization rate of prevailing restaurants and develop more Cafes, Casual/Fine Dining, and QSRs near the newly opened stadiums and Malls especially designed for the FIFA World Cup around Qatar.
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