Press release
Food Service Market is anticipated to dominate the global market, reaching a market share of USD 2.85 Tn in 2022 to USD 3.96 Tn, with a CAGR of 4.8 Percent during the forecast period from 2023 to 2029.
Food Service Market
In 2022, the foodservice (FS) market demonstrated significant growth in terms of value and transaction volume. The foodservice industry plays a vital role in contributing to global and national GDP, encompassing a wide range of businesses influenced by its induced value. This market encompasses various sectors, bringing new paradigms and cross-pollination with adjacent businesses.
Foodservice and Away from Home channels are key drivers for food and beverage product manufacturers and distributors. However, the closure of eateries and a decline in business volume due to the COVID-19 pandemic have impacted this segment, particularly small and local producers.
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What are Food Service Market Dynamics:
The full-service restaurant segment holds the largest market share in the global foodservice market, followed by the quick-service restaurant (QSR) segment. The top ten nations by population, such as China, the United States, and Japan, account for over 80 percent of the global market share
The growth of the chained foodservice market is driven by the increasing demand for quick food and casual dining, as well as rising consumer awareness of quick-service restaurants (QSRs). Retail and entertainment categories lead the way, with grocerant formats playing a significant role. Delivery has experienced double-digit growth in recent years as a preferred consumption mode. Chained foodservice players are adopting self-service kiosks to improve service speed and cost-effectiveness. The habit of socializing in cafes among urban Millennials and the younger generation further fuels the growth of the chained foodservice market. Additionally, fast infrastructural development in emerging economies has provided opportunities for coffee companies to expand.
Food Service Market Regional Insights:
Delivery platforms and operators are expected to benefit from the COVID-19 situation, experiencing increased demand. However, manpower/rider scarcity and fulfillment center challenges may arise as opportunities for these players expand in the post-pandemic era. Chains dominate the market, accounting for over 30 percent of the global share, with Asia Pacific and Europe witnessing rapid development. North America has the highest chain penetration at 55 percent. Italy experienced a significant increase in food delivery, with partnerships between restaurants and delivery platforms rising by more than 30 percent. Millennials, particularly those with a preference for pizza, accounted for the majority of food delivery orders.
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What is Food Service Market Segmentation:
By Sector:
Commercial
Non-commercial
By System:
Conventional Foodservice System
Centralized Foodservice System
Ready Prepared Foodservice System
Assembly-Serve Foodservice System
By Types of Restaurants:
Cafés and bars
Street food
Quick service restaurants
Full service restaurants
By Structure:
Chained Outlets
Independent Outlets
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Who are Food Service Market Key Players:
1.Aramark Corporation
2. Compass Group North America
3. Doctor's Associates Inc.
4. Domino's
5.McDonald's Corp.
6. Restaurant Brands International
7. Seven & I Holdings Co. Ltd.
8. Sodexo
9. Starbucks Corporation
10. Yum! Brands Inc
11. Others
Table of content for the Food Service Market includes:
Global Food Service: Research Methodology
Global Food Service Market: Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
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Global Food Service Market: Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
M&A by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
Global Food Service Market Segmentation
Global Market, by Sector (2022-2029)
Global Market, by System (2022-2029)
Global Market, by Types of Restaurants (2022-2029)
Global Market, by Structure (2022-2029)
Regional Food Service Market (2022-2029)
Regional Market, by Sector (2022-2029)
Regional Market, by System (2022-2029)
Regional Market, by Types of Restaurants (2022-2029)
Regional Market, by Structure (2022-2029)
Regional Market, by Country (2022-2029)
Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
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Key Offerings:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Sector, System, Types of Restaurants and Structure
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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