This year Australians are anticipated to spend a total of $14.85 billion in restaurants and while premium dining venues will enjoy the largest piece of the pie ($5.94 billion), mid-range meals will receive $4.75 billion and $4.16 billion will be spent on cheap eats.

Data from analysis group IbisWorld predicts a restaurant revival and suggests the overall industry will grow over the next five years to reach $16.96 billion.

“Aussies will be splashing the cash a little more when it comes to entertainment”, said Karen Dobie, IbisWorld general manager.  “However, recent restaurant closures at the top of the market are a reminder that even in the premium segment we’re no longer willing to pay through the nose if we don’t feel we’re getting value for money.” 

Right now the average Australian household spends $220 per week in the supermarket compared with $67 on eating out, including fast food (which accounts for 5.4 percent of weekly spend). 

IbisWorld data indicates annual growth in supermarket spending of 1.8 percent between now and 2017-18, compared with a 3.6 percent increase on eating out.

Eating out in the east

New South Wales accounts for the highest proportion of dining out expenditure with 31 percent, followed by Victoria with 25 percent of dining out spending, Queensland with 19 percent, Western Australia with 14 percent, South Australia with six percent and the Australian Capital Territory and Northern Territory both with two percent.

“Although the east coast generates the highest expenditure, both Queensland and Western Australia have grown their market share over the past decade on the back of the resources boom and resulting growth in disposable incomes,” Dobie added.

Reality bites

Other factors influencing demand include market opportunities created by popular reality TV programs such as Masterchef and My Kitchen Rules. 

But celebrity chefs aside, Dobie said Australians’ long working hours and busy lifestyles are a major factor in the eating-out trend. IBISWorld expects this to continue as young professionals continue to eat a significant proportion of their meals away from home.

Dobie expects Australians’ rising health consciousness to play a part in how and where we eat out. “Mounting concern about fat content, high carbohydrates and fried food will influence demand for certain foods on restaurant menus – stimulating change in the product mix and creating opportunities in niche markets such as organic dining and eco-consumerism.”

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