Hospital Food Service Market Is Expected To Reach At A Valuation US$ 81.9 Billion By 2033

In fiscal year 2023, the worldwide hospital food services market is estimated to be worth US$ 39.7 billion, up from US$ 37.0 billion in fiscal year 2022. The market is predicted to increase at a 7.5% CAGR from 2023 to 2033, reaching a value of US$ 81.9 billion by the end of 2033.

According to Fact.MR, a market research and competitive intelligence provider, the Hospital Food Service market has been driven by factors such as increasing awareness about the importance of healthy food options in hospitals, which has given the Hospital Food Service market an advantage.

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Furthermore, as individuals strive to reconcile hectic schedules with healthy lifestyle choices, there is a growing desire for convenience as well as easily available food options. To meet this demand, hospitals are providing more convenient meal alternatives, such as grab-and-go options and online ordering systems. This is a significant aspect that is expected to drive market expansion throughout the forecast period.
Furthermore, as more individuals choose a vegetarian or vegan lifestyle or seek healthier and more ecologically sustainable food alternatives, the demand for plant-based cuisine is expanding in the hospital food service sector. Hospitals have begun to provide more plant-based menu options, such as salads, soups, sandwiches, and major entrees made with tofu, beans, grains, and vegetables.

Competitive Landscape:
In January 2022, Sodexo announced that it has agreed to acquire Frontline Food Services (d/b/a Accent Food Services), an important player in the fast-growing convenience market in North America. This will broaden the company's multi-channel offerings, including click n' collect, take-out, delivery, convenience store concepts, micro-markets, self-service pantries, office refreshments, and smart vending
Aramark, in December 2021, announced a strategic collaboration with Starr Restaurant Organization, in order to optimize the culture of culinary expertise, innovation, and operational excellence at both companies to deliver high-quality hospitality experiences across the United States.

Prominent Growth Drivers Influencing Hospital Food Service market

Hospitals are attempting to provide a broader range of food alternatives in order to fulfill the different dietary demands and tastes of their patients. This includes including healthier, organic, and culturally diverse food alternatives on their menus.

Adoption of innovative and diverse food menus contributes to increased patient happiness and experience, which is a critical issue for hospitals in today's competitive healthcare industry. As a consequence, demand for hospital food services is increasing, which is likely to drive the hospital food service market's growth throughout the forecast period. As a result, the increased adoption of novel and diverse food menus for patients in hospitals is driving market expansion.

Key Players:
• Compass Group plc.
• Sodexo
• Aramark
• Elior Group
• Healthcare Services Group, Inc.
• ISS World
• Culinary Services Group
• Metz Culinary Management
• AVI Foodsystems, Inc.
• Thomas Cuisine
• Hospital Housekeeping Systems (HHS)
• Whitsons Culinary Group
• The Nutrition Group
• Food Management Group, Inc. (FMG)
• Prince Food Systems

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Regional Analysis:

According to Fact.MR, North America is the fastest-growing market region, accounting for more than 39% of the market share in 2023, and is predicted to retain its dominance throughout the study period.

Furthermore, factors such as rising incidence of chronic conditions such as obesity and diabetes, increased desire for better food alternatives, increased focus on patient satisfaction, and technological improvements are related to regional growth. According to Fact.MR, the Hospital Food Service market in Europe will account for 21% of the market share in 2023 and is predicted to grow rapidly over the analysed period. Governments in Europe are pushing the use of cutting-edge technology such as computerized ordering systems and automation to increase the efficiency and convenience of hospital food services. This is likely to increase patient satisfaction and support European market growth.

Furthermore, European governments are encouraging healthy eating through public awareness campaigns, educational programs, and other measures. This initiative is intended to raise public awareness about the significance of proper nutrition in sustaining health and avoiding chronic illnesses, and it is expected to increase demand for better food alternatives in hospitals.

Key Segments of Industry:
• By Type :
o Patient Services
o Retail Services
o Vending & Shops
o Other
• By Settings :
o Acute Care Settings
o Post-Acute Care
o Other

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This release was published on openPR.