Indian cuisine was one of the cuisine types within venue channels, along with Sri Lankan cuisine, according to GlobalData’s menu intelligence database. In its menu analysis of venue in Sri Lanka report, GlobalData analyses 62 menu items across venue outlets and provides an overview of various foodservice channels in Sri Lanka. According to GlobalData, venue makes up 0.775% of all restaurant types in Sri Lanka. Buy the report here.
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Chicken was found to be the most-used ingredient in venue establishments, featuring in 24% of menu items, followed by noodle and rice. Fish & Seafood and vegetables were also significant ingredients. An analysis of menu categories reveals that salads & sides, curry, meal deals and combinations and Soups were most popular within the venue format.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in Sri Lanka venue channel have flat growth. Considering all channels (including venue) the average price change was 0.15%. As on-premises dining gains momentum following the COVID-19 pandemic, the venue segment in Sri Lanka is expected to experience overall growth. Moreover, the introduction of new menu items that emphasize health and wellness generates interest in those seeking nutritious menu options and greater variety.
Different restaurant types exhibited mixed price movements within Sri Lanka foodservice market between 2023 and H1 2024. Of all the restaurant types, ice cream parlour exhibited highest price hike, while other retail experienced a price decrease.
An in-depth analysis of venue price trends by location reveals consumption trends of each region. The graph below represents the change in venue menu prices between 2023 and H1 2024 across the top five locations. As seen below, venue menu items in Colombo became more affordable as compared to Colombo and .
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In the Sri Lankan market, venue operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavors of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into Sri Lanka venue menu, buy the full report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Online Menu Intelligence is a database of cost and profit foodservice operators on menus within Foodservice Intelligence Center. The tool’s several search options, such as cuisine, category, menu item, ingredient, and restaurant, help users to conduct focused searches in terms of price analysis (average price and change in prices), menu item claims, popular categories, cuisine/ingredient penetration levels, etc.
