Press release
Global Foodservice Market Driven by Increasing Food Chains in North America
The global foodservice market is predicted to develop rapidly during the period from 2013 to 2019. The demand for foodservice systems and catering services has increased in the past decade. Students, the working class, and people staying in hostels give more preference to outside food or catering services.
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North America Foodservice Segment to Register Fastest Growth
The global foodservice market is segmented on the basis of geography and type of foodservice. By geography, the global foodservice market is divided into North America, Europe, Asia Pacific, and Rest of the World. In 2013, the North America market for foodservices registered the highest number of restaurants, catering service providers, and food chains. Considering the increasing demand for fast food, the North America region is predicted to register the fastest growth by 2019. The high number of mergers and high-value transactions has boosted the foodservice market in the North American region.
Europe was the second largest region in the global foodservice market in 2013, followed by Asia Pacific. Some of the leading players in the global foodservice market are Aramark Corporation, Compass Group North America, Sodexo Inc., Guest Services, Inc., and Centerplate.
By foodservice type, the global foodservice market is divided into four systems, namely centralized, assembly service, conventional, and ready prepared. The conventional food service segment dominated the global foodservice market in 2013 and is predicted to maintain its position during the forecast period.
Growing demand for foodservice systems in various areas such as schools, universities, colleges, and restaurants is predicted to drive the global foodservice market during the forecast period. Individuals studying in colleges and schools and the working population often prefer eating in college canteens or office cafeteria that follow conventional foodservice systems. This offers convenience, with healthy, safe food secured at relatively low prices. With the growing variety of food products available in the market, the global foodservice market is expected to develop rapidly by 2019.
Hygienic Food to Generate Higher Demand by 2019
The leading companies in the global foodservice market make sure to supply fresh and quality food products to cafeteria and restaurants. The high cost of maintaining the quality and hygiene of food products, food safety, and requirement of labor are some of the factors that will restrict the growth of the global foodservice market throughout the forecast period. However, efforts taken by public health service departments to maintain the hygiene of food products is predicted to help the global foodservice market develop rapidly. Hygienic food will be the focus of the foodservice industry in the coming years.
The foodservice industry is entering into supermarket operations to multiply their customer base. Introduction of the concept of a bar and restaurant in various clubs such as air hockey and pool and snooker clubs has opened new opportunities for the global foodservice market. Through such entertainment facilities, the foodservice market attracts more customers, thus boosting the growth of the global foodservice market.
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