Press release
Food And Beverage Services Market 2024-2033: Competitor Assessment, New Trends, Share Analysis And Global Key Players | JELD-WEN Inc., Georgia-Pacific LLC, Builders FirstSource Inc., LIXIL Group, Stora Enso Oyj.
"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2462The Business Research Company presents an extensive market research report on the Food And Beverage Services Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The food and beverage services market size has grown strongly in recent years. It will grow from $3715.91 billion in 2023 to $3903.1 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to changing consumer preferences, economic trends, urbanization and lifestyle changes, globalization of food culture, regulatory changes.
The food and beverage services market size is expected to see strong growth in the next few years. It will grow to $4880.53 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to sustainability practices, virtual and ghost kitchens, culinary innovation and fusion, health-conscious dining, cultural and local influences. Major trends in the forecast period include digitalization and contactless services, technology integration, digital ordering and delivery, rise of ghost kitchens, technology integration in restaurants, personalization and customization.
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Key Market Players:
Major companies operating in the food and beverage services market report are JELD-WEN Inc., Georgia-Pacific LLC, Builders FirstSource Inc., LIXIL Group, Stora Enso Oyj, Weyerhaeuser Company, West Fraser Timber Co. Ltd., UFP Industries Inc., Universal Forest Products lnc., Boise Cascade Company, Celulosa Arauco y Constitución Company, Louisiana-Pacific Corporation, Resolute Forest Products Inc., UPM-Kymmene Corporation, Interfor Corporation, NCI Building Systems Inc., Metsä Group, Rayonier Advanced Materials lnc., Cavco Industries Inc., Norbord Inc., Western Forest Products Inc., Canfor Corporation, PotlatchDeltic Corporation, Cefla s.c., Nature Home Holding Company Limited, Sappi Limited, Roseburg Forest Products Co., Masonite International Corporation, Barberán S.A., Tolko Industries Ltd., Hampton Affiliates lnc., Conifex Timber Inc., Stella-Jones Inc., CanWel Building Materials Group Ltd.
Market Drivers:
The food and beverage services market is expected to benefit from the rising digitalization of food services. Consumers are increasingly preferring to order food online for home delivery. For instance, according to KPMG, the average spend per person per year on food takeaways in the UK was $721 in 2021. Additionally, Nottingham claimed the title of the UK's takeaway hub, boasting an average expenditure of £1,097 per individual in 2021. Major companies providing food delivery services include Deliveroo, Just Eat, and Uber Eats. This trend is likely to continue in the forecast period and will drive the food and beverage services market going forward.
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https://www.thebusinessresearchcompany.com/report/food-and-beverage-services-global-market-report
The food and beverage services market covered in this report is segmented -
1) By Type: Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors
2) By Ownership: Chain Market, Standalone Market
3) By Pricing: High-End, Economy
3) By Service: Online, Offline
Subsegments Covered: Full-Service Restaurants, Limited-Service Restaurants, Cafeterias, Grill Buffets, And Buffets, Mobile Food Services, Snack And Nonalcoholic Beverage Bars, Drinking Places (Alcoholic Beverages), Food Service Contractors, Catering Services
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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