Food away from home Market: Trends, Growth, and Opportunities | CAGR 2.3%

Food away from home Market by Delivery Model (Dine in, Take Away, Home Delivery), by Application (Restaurants, Schools and Colleges, Hotels and Motels, Retail Stores and Vending, Others), by Type of Occasion (Entertainment, Travel, Retail, Freestanding), by Ownership Type (Independent, Chains): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global food away from home industry generated $4.3 trillion in 2021, and is anticipated to generate $5.9 trillion by 2031, witnessing a CAGR of 2.3% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐀𝐭: https://www.alliedmarketresearch.com/request-sample/32279

The rise in popularity of dining out culture has significantly propelled the growth of the global food away from home market demand in the past decade. The eating-out culture is the major factor behind the significant growth of quick-service restaurants and popular fast-food chains in developed and developing nations.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Sysco Corporation,
Chipotle Mexican Grill,
Darden Concepts, Inc,
Jubilant FoodWorks Limited,
Burger King Corporation,
SSP Group Plc,
Bid Corporation,
Zensho Holdings Co., Ltd,
Aramark,
Compass Group PLC,
SATS Ltd.,
Sodexo,
Yum Brands, Inc,
Restaurant Brands International Inc,
Cloud Kitchens

As per the food away from home market trends, based on the application, the restaurants segment dominated the market in 2021, accounting for 73.5% of food away from home market share. This is largely attributable to the enormous penetration of full-service and limited-service restaurants around the world. The growth of the restaurant sector in the market has been greatly encouraged by the rise in popularity of the dining-out culture and the rising participation of women in the workforce.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/checkout-final/287f1cb443412441b83925555af9fca1

The rapid increase in the female workforce, a reduction in the time for cooking and buying vegetables owing to the busy schedule of both partners, increase in popularity of cloud kitchens, rise in number of domestic and international tourists, and changes in food habits of consumers drive the growth of the global food away from home market. Moreover, the surge in the prevalence of fast-food chains in developing nations presents new opportunities in the coming years.

By type of occasion, the market was dominated by the freestanding segment in 2021. The proliferation of fast-food restaurants, rising disposable income, rising urbanization, and rising acceptance of online meal delivery services among the populace are the primary factors expected to propel the standalone segment's growth in the near future.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global food away from home market, and is likely to dominate the market during the forecast period. The presence of a huge number of restaurant chains across the country coupled with the huge popularity of eating out culture, high disposable income, and surge in penetration of online food delivery platforms are significantly contributing towards the growth of the North America FAFH market. However, the Asia-Pacific region is expected to witness the fastest CAGR of 3.2% from 2022 to 2031. The presence of a huge population in China coupled with strong economic growth and the rising penetration of a huge number of fast-food restaurants has led to the growth of the China FAFH market.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

The global food away from home market size was valued at $4,266.3 billion in 2021 and is estimated to reach $5,848.7 billion by 2031, growing at a CAGR of 2.3% from 2022 to 2031.

By delivery model, the home delivery segment is estimated to witness the fastest growth, registering a CAGR of 3.5% during the forecast period.

By application, the restaurants segment was valued at $3,136.4 billion in 2021.

By region, the U.S. was the most prominent market in North America in 2021 and is projected to reach $1,126.8 billion by 2031, growing at a CAGR of 1.9% during the forecast period.

𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗶𝗻 𝗙𝗼𝗼𝗱 𝗮𝗻𝗱 𝗕𝗲𝘃𝗲𝗿𝗮𝗴𝗲𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆

Food Safety Testing Market - https://www.prnewswire.com/news-releases/food-safety-testing-market-size-to-garner-37-5-billion-by-2031--allied-market-research-301789506.html

Catering And Food Service Contract Market - https://www.globenewswire.com/en/news-release/2023/01/25/2595203/0/en/Global-Catering-and-Food-Service-Contract-Market-Is-Expected-to-Reach-477-3-Billion-by-2031-Allied-Market-Research.html

North America Catering And Food Service Contract Market - https://www.alliedmarketresearch.com/north-america-catering-and-food-service-contract-market-A101398

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.