Key Trends Influencing the Growth of the Food Service Market in 2025: Food Service Giants Leverage AI For Personalized Meal Planning And Recipe Solutions

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What Is the Expected CAGR for the Food Service Market Through 2025?
There has been a swift expansion in the food service market size in the past few years. The market's size is projected to increase from $2593.76 billion in 2024 to $2877 billion in 2025, with a compound annual growth rate (CAGR) of 10.9%. The historic period's growth is largely due to the increase in the number of working women, the surge in demand for online meal orders, the expansion of food and beverage services, the growing interest in themed restaurants, and the rise in vegan food products.

What's the Projected Size of the Global Food Service Market by 2029?
The size of the food service market is anticipated to expand significantly in the coming years, surging to $4293.91 billion in 2029 with a compound annual growth rate (CAGR) of 10.5%. This expansion during the projected period is linked to the rising demand for easy-to-prepare foods, an uptick in tourism, a surge in the consumption of healthy foods, an increase in ready-made meals, and a growth in the number of food courts. The projected period also sees major trends such as the incorporation of technology in food, the introduction of digital payment methods, automatization in kitchen technology, the creation of online platforms, and advancements in food preparation techniques.

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Top Growth Drivers in the Food Service Industry: What's Accelerating the Market?
The surge in demand for convenience foods is poised to fuel the expansion of the food service market. Defined as pre-packaged or pre-prepared foods tailored for rapid, effortless consumption with little preparation time, convenience foods are typically ready-to-eat or require simple preparation steps like heating or mixing. They cater to the fast-paced lifestyles of today's consumers, fulfilling a need for rapid, easy meal solutions borne out of hectic schedules and limited time for cooking. In response to this, food services provide swift, ready-to-eat meal solutions that are easily accessible through efficient delivery and takeout services, making it easy and time-saving to access high-quality meals. For example, Blue Diamond Almond, a US-based company, stated in March 2022 that the ready-to-eat meal sector in the US amassed revenue of $46,916 million in 2022, predicting a 0.83% compound annual growth rate through to 2026. Consequently, the burgeoning demand for convenience foods is a significant factor propelling the food service market.

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What Trends Will Shape the Food Service Market Through 2029 and Beyond?
Leading corporations in the food service market are pioneering innovative strategies such as AI-enabled, tailored food and recipe options to cater to individual taste preferences and nutritional requirements, whilst optimizing meal planning and preparation procedures. The objective of AI-enabled, customized food and recipe options is to enhance the experience of meal planning, cooking, and eating by utilizing technology to accommodate individual needs and preferences. As an illustration, in August 2023, Samsung Electronics, an electronics corporation based in South Korea, introduced an innovative AI-propelled, customized food service and recipe platform. With advanced Food AI, the platform suggests meals based on the user's preferences and seasonal ingredients. Providing over 160,000 recipes, it functions as a personalized assistant, enabling users to explore new cuisines, design customized meal plans, and purchase ingredients online. Furthermore, the app adapts recipes to align with users' dietary restrictions, nutritional objectives, and stocked ingredients.

What Are the Main Segments in the Food Service Market?
The food service market covered in this report is segmented -

1) By Type: Full Service Restaurants, Quick Service Restaurants, Institutes, Other Types
2) By Systems: Conventional Foodservice System, Centralized Foodservice System, Ready Prepared Foodservice System, Assembly-Serve Foodservice System
3) By Sector: Commercial, Non-Commercial

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Which Top Companies are Driving Growth in the Food Service Market?
Major companies operating in the food service market are Sysco Corporation, Compass Group, McDonald's Corporation, Sodexo SA, Marriott International, General Mills Inc., Domino's Pizza Inc., Aramark Corporation, Kellogg Company, Darden Restaurants Inc., Chipotle Mexican Grill Inc., Tim Hortons Inc, Yum! Brands Inc., KFC Corporation, Restaurant Brands International Inc., Elior Group, Jollibee Foods Corporation, Papa John's International Inc., Wendy's Company, Whitbread PLC, Supermac's Holdings Ltd., Dunkin' Brands Group Inc., Amoy Food Limited

Which Regions Will Dominate the Food Service Market Through 2029?
Asia-Pacific was the largest region in the food service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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