Growth in Food Courts and Malls Drives Food Services And Drinking Places Market Driver: Leading Transformation in the Food Services And Drinking Places Market in 2025

What combination of drivers is leading to accelerated growth in the food services and drinking places market?
The growth of the food services and drinking places market is spurred on by the rising number of food courts and malls. These spaces, located within shopping complexes, are dedicated areas that host a range of food and beverage outlets and offer a communal location for diners. As consumer demand for a variety of dining options and convenient meal experiences in one place rises, so does the prevalence of food courts and malls. Used as communal dining spaces, food services and drinking places foster a sense of convenience and variety for consumers seeking diverse dining and beverage options. In March 2023, all food and beverage service industries observed a year-on-year sales increase, as per SingStat, a government organization based in Singapore. Specifically, food caterers saw the most impressive increase at 80.1%, while restaurants increased by 16.4%. Furthermore, sales rose by 13.2% for cafes, food courts, and other eateries, and 11.1% for fast-food outlets. On a seasonal adjustment basis, restaurant sales increased month-over-month by 5.7% and food caterers increased by 2.5%. Thus, the expanding number of food courts and malls is sparking growth in the food services and drinking places market.

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What is the projected compound annual growth rate (CAGR) of the food services and drinking places market from 2025 to 2034, and what factors influence it?
The market size for food services and drinking establishments has expanded swiftly in the previous years. It is set to increase from $2684.74 billion in 2024 to $2967.84 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.5%. The growth witnessed in the historic period can be linked to factors such as an increase in disposable income, shifts in consumer lifestyles, a surge in tourism, a broadening variety of cuisine choices, and the widespread expansion of food service chains.

In the upcoming years, the market size for food services and drinking places is projected to witness a swift expansion. By 2029, it is forecasted to increase to $4369.58 billion with a Compound Annual Growth Rate (CAGR) of 10.2%. This expected growth during the prediction period can be linked to the growing health awareness, the popularity of plant-based diets, advancements in technology for ordering and delivery systems, a rising request for distinct dining experiences, and actions towards sustainability. Noteworthy emerging trends during this forecast period involve the use of contact-free payment methods, incorporation of AI in customer service, proliferation of food delivery platforms, focus on eliminating waste, and the increase in options for non-alcoholic beverages.

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How are the latest trends influencing the growth of the food services and drinking places market?
Leading businesses in the food services and drinking establishments market are focusing on creating novel solutions like a comprehensive restaurant service hub. Such an innovation is geared towards enhancing operational efficiency, improving customer experience, and ensuring smooth amalgamation of distinct services. A comprehensive restaurant service hub is epitomized as a service center offering a broad spectrum of services and conveniences pertinent to the restaurant sector. It is designed to equip restaurant owners, administrators, and personnel with all the necessities for effective business management, from commodities and machinery to expert services and support. For instance, in July 2024, Zomato, an Indian food delivery and restaurant finding enterprise, inaugurated a comprehensive service hub specially crafted for quick service restaurants (QSRs). This all-in-one solution in India aims at simplifying restaurant operations by linking them with the right vendors. The hub facilitates Food Safety and Standards Authority of India (FSSAI) registration, goods and services tax (GST) registration, and trademark registration, striving to offer a comprehensive solution for restaurant proprietors. Upcoming services plan to encompass point-of-sale (POS) integrations and sanitization checks to assist restaurants at each progression of their business venture.

What are the major segments of the food services and drinking places market and their role in driving growth?
The food services and drinking placesmarket covered in this report is segmented -

1) By Type: Restaurants And Mobile Food Services, Bars And Cafes, Catering Services, Food Contractors
2) By Pricing: High-End, Economy
3) By Service: Online, Offline
4) By Ownership: Chain Market, Standalone Market

Subsegments:
1) By Restaurants And Mobile Food Services: Full-Service Restaurants, Fast Food And Quick Service Restaurants (QSR), Casual Dining Restaurants, Fine Dining Restaurants, Food Trucks And Mobile Carts, Buffets And All-You-Can-Eat Services, Ethnic And Specialty Cuisine Restaurants, Ghost Kitchens And Delivery-Only Restaurants
2) By Bars and Cafes: Traditional Bars and Pubs, Cocktail Bars and Lounges, Coffee Shops and Cafes, Brewpubs and Microbreweries, Wine Bars, Sports Bars and Nightclubs, Tea Houses and Specialty Beverage Cafes
3) By Catering Services: Event Catering, Institutional Catering, Corporate and Office Catering, Food Service for Large Gatherings, Specialized Catering, Mobile Catering
4) By Food Contractors: Contract Food Services for Businesses, Food Management Services, Institutional and Industrial Catering, Food and Beverage Contractors for Remote Locations, School and University Food Contractors, Healthcare Facility Food Contractors

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Which regions are key players in the growth of the food services and drinking places market?
North America was the largest region in the food services and drinking places market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food services and drinking places market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the food services and drinking places market?
Major companies operating in the food services and drinking places market are Sysco Corporation, Performance Food Group, US Foods Holding Corp., Starbucks Corporation, Compass Group plc, Sodexo Group, McDonald's Corporation, Subway IP LLC, Gordon Food Service, Chipotle Mexican Grill Inc., Elior Group SA, Ben E. Keith Company, Shamrock Foods Company, Delaware North, Chefs' Warehouse, Reinhart Foodservice LLC, Metz Culinary Management Inc., AVI Foodsystems Inc., Thompson Hospitality Corporation, Guckenheimer (ISS), Valley Services Inc., Creative Dining Services, Guest Services Inc., Bon Appétit Management Company, Centerplate Inc., Unidine Corporation, Brock & Company Inc.

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What Is Covered In The Food Services And Drinking Places Global Market Report?

•Market Size Forecast: Examine the food services and drinking places market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the food services and drinking places market for a structured understanding.
•Key Players Overview: Analyze major players in the food services and drinking places market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the food services and drinking places market.
•Segment Contributions: Evaluate how different segments drive overall growth in the food services and drinking places market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the food services and drinking places market.
•Industry Challenges: Identify potential risks and obstacles affecting the food services and drinking places market.
•Competitive Landscape: Review strategic developments in the food services and drinking places market, including expansions, agreements, and new product launches.

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