Food Away From Home Market Poised for 4.6 % Growth, Set to Hit $12.14 Billion by 2029

How Is the Food Away From Home Market Projected to Grow, and What Is Its Market Size?
The market size for food consumed outside the home has seen a consistent rise over the past few years. Its worth is projected to increase from $4636.81 billion in 2024 to $4865.45 billion in 2025, witnessing a compound annual growth rate (CAGR) of 4.9%. Factors such as the fast food industry's growth, changing societal norms, increasing participation of women in the workforce, urbanization, and shifts in population demographics are attributed to the historical growth.

In the coming years, the market size for food away from home is predicted to consistently expand. By 2029, it is anticipated to reach $5816.07 billion with a CAGR of 4.6%. This expected growth during the forecast period is due to factors such as regulatory policies, economic status, culinary innovations, the surge of online food delivery, and busy work lifestyles. Key trends forecasted for this period include the adoption of contactless and digital ordering, the emergence of ghost kitchens and virtual brands, sustainability and green practices, technology integration, and a rise in plant-based and alternative proteins.

What Is Stimulating Growth in the Food Away From Home Market?
The burgeoning evolution of fast-food eateries is predicted to significantly propel food-away-from-home market advancement. These quick-service establishments, also known as fast food outlets, provide speedy meal preparation on a pre-cooked basis with scarcely any table service. The emergence of these restaurants is attributed to the need for diverse and convenient dining options, accelerated lifestyle pace, and changing taste buds. These restaurants appeal to time-deprived individuals and budget-oriented customers through their valued meals and deals. For example, in 2024, as per Aviko, a food corporation based in the Netherlands, the fast food sector in the UK surged from 20.61 billion in 2022 to 22.04 billion in 2023. There was also an elevation in the number of UK consumers dining in such restaurants, hitting the 45% mark in 2023. Hence, this dynamic augmentation in fast-food restaurants is facilitating the growth trajectory of the food-away-from-home market.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=17153&type=smp

Who Are the Major Industry Players Fueling Food Away From Home Market Expansion?
Major companies operating in the food away from home market are Starbucks Corporation, Compass Group PLC, Sodexo, McDonald's, Aramark, Subway IP LLC, Darden Concepts Inc., Chipotle Mexican Grill, Yum Brands, Restaurant Brands International Inc., Zensho Holdings Co. Ltd., Whataburger, Domino's Pizza, Panda Restaurant Group Inc., Brinker International Inc., Greene King, SATS Ltd., Burger King Company LLC, Papa John's International Inc., Shake Shack, Jubilant FoodWorks

Which Key Developments Are Influencing the Food Away From Home Market?
In the food-away-from-home market, leading companies are prioritizing the adoption of advanced technology like the 'AI-first' method to improve productivity and augment their manpower in fast-food restaurant chains. The AI-first approach is a commerce strategy that accentuates the incorporation and maximization of artificial intelligence throughout every aspect of fast-food chain's operations aiming to boost efficiency, minimize expenses, and deliver superior customer service. For example, Yum! Brands, a fast-food corporation from the US, launched the SuperApp platform in April 2024. Currently utilized by over 8,700 Pizza Hut and KFC eateries, this AI-first strategy mobile application for restaurant managers allows the staff to make operation-related inquiries such as changing oven temperatures and get replies through a generative AI chatbot, making conventional training manuals obsolete. The SuperApp is also used by workers to administer their work routines and place orders for goods and supplies, ensuring a smooth restaurant operation.

How Is the Segmentation of the Food Away From Home Market Defined?
The food away from home market covered in this report is segmented -

1) By Type Of Occasion: Entertainment, Travel, Retail, Freestanding
2) By Ownership Type: Independent, Chains
3) By Delivery Model: Dine In, Take Away, Home Delivery
4) By Application: Restaurants, Schools And Colleges, Hotels And Motels, Retail Stores And Vending, Other Applications

Subsegments:
1) By Entertainment: Theater Dining, Concert And Event Catering, Amusement Park Food Services, Sports Venue Concessions, Cinema Food And Beverage Services
2) By Travel: Airport Food Services, Railway Station Food Outlets, Highway Rest Stop Dining, On-Board Catering (Airlines, Trains, Cruises), Hotel Restaurants
3) By Retail: Food Courts, In-Store Cafes, Supermarket And Grocery Deli Counters, Convenience Store Food Services, Specialty Retail Cafes (e.g., Bookstore Cafes)
4) By Freestanding: Casual Dining Restaurants, Fine Dining Restaurants, Fast Food Outlets, Food Trucks And Street Vendors, Coffee Shops And Cafés

Pre-Book Your Report Now For A Swift Delivery:
https://www.thebusinessresearchcompany.com/report/food-away-from-home-global-market-report

What Is the Leading Region in the Food Away From Home Market?
North America was the largest region in the food away from home market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food away from home market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Food Away From Home Global Market Report?

- Market Size Analysis: Analyze the Food Away From Home Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Food Away From Home Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Food Away From Home Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Food Away From Home Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=17153

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.