Eateries taking on fast food

RESTAURANTS are cashing in on the food delivery boom driven by the likes of Deliveroo and UberEats as the fast food industry proves slow to adapt.

Financial researcher IbisWorld is forecasting revenue growth of 2 per cent for the restaurant industry this financial year, with the combined takings of 28,252 businesses to reach $21 billion.

IbisWorld expects that growth to reach 5.8 per cent next financial year, and revenue to surpass $30 billion in the year to June 2022.

Revenue for fast food establishments is forecast to rise by only 1.2 per cent this financial year, to $19.5 billion, while growth for cafes is forecast to be 0.8 per cent, to $8.1 billion.

Senior IbisWorld analyst Bao Vuong said food delivery apps including UberEats, Deliveroo, Menulog and Foodora had changed the way timepoor customers dined, and how restaurants were run.