Food Service Market Size, Share, Segments, Demand, Trends and Global Report 2023-2028

The latest research study "Food Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" by IMARC Group, finds that the global food service market size reached US$ 2,880.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,787.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.

Year considered to estimate the market size:

• Base year of the analysis: 2022
• Historical period: 2017-2022
• Forecast period: 2023-2028

Market Outlook:

Food service represents the catering facilities provided by the food and beverage (F&B) enterprises, wherein meals are prepared out of the home for delivery, dining, and takeaways. They are extensively categorized into commercial and institutional types. The commercial ones are various fine-dining establishments, such as bars, nightclubs, fast-food restaurants, and hotels. In contrast, institutional ones are identified as entities that provide meals at universities, healthcare, and military camps. Food service assists in delivering quality cuisines through supply channels, offering convenience, saving time, providing an enhanced customer experience, and generating profitable revenue. As a result, these outlets find widespread applications in fast-food, limited services, special meals, and full-service restaurants. 

Market Trends: 

The escalating demand for customized and innovative menu options designed according to the taste, budget, and diet preferences of consumers is among the primary factors driving the food service market. Besides this, the establishment of several commercial spaces, including cafes, restaurants, and quick-service restaurants (QSRs), is further augmenting the market growth.

Moreover, the shifting inclination of the millennials toward the ready-to-eat (RTE), hassle-free, nutritious, hygienic, and on-the-go foods and beverages, on account of the hectic work schedules and the rising availability of healthier fast-food alternatives, are also catalyzing the global market.

Apart from this, the growing popularity of e-commerce and online shopping outlets for ordering meals and drinks is acting as another significant growth-inducing factor. Furthermore, the increasing disposable incomes of individuals, the expanding distribution channels, and the introduction of low-fat beverages, gluten-free products, etc., are anticipated to propel the food service market over the forecasted period. 

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/food-service-market/requestsample

Food Service Market Report Segmentation:

The report has categorized the market based on sector, systems and types of restaurants.

Based on Sector:

• Commercial
• Non-commercial

Based on Systems:

• Conventional Foodservice System
• Centralized Foodservice System
• Ready Prepared Foodservice System
• Assembly-Serve Foodservice System

Based on Types of Restaurants:

• Fast Food Restaurants
• Full-Service Restaurants
• Limited-Service Restaurants
• Special Food Services Restaurants

Geographical Analysis: 

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=1310&flag=C

Key Highlights of the Report:                                                    

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Media Contact:
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Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
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Country: United States
Website: https://www.imarcgroup.com

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.