Sir: Your article ‘What is the food and drink legacy of the downturn?’ (2 August, p12) was both timely and interesting. However, you left out giving a mention to the “other” food and drink market, namely the eating out of home (or foodservice) market, which represents 28% of all food and drink consumption in the UK by sales value.
Taken in the round, when measured by value at constant prices (ie with inflation stripped out), the eating out market peaked in 2008, reached its recessionary nadir only in 2012, and will get back to its previous high late next year or early the year after. Of course, inflation works its magic so that, measured at current prices, the eating out market is already at an all-time high and presenting fabulous opportunities for innovative food and drink suppliers.
Peter Backman, Horizons