Food Service Market – Global Industry Analysis And Forecast (2023-2029)

Food Service market is expected to hold the largest market share of US$ 822.6 Brillion, with a CAGR of 10.2% over the forecast period (2023-2029), because of increasing consumer awareness of Quick service restaurant (QSRs).

Food Service Market Definition:

During 2022, the foodservice (FS) market continued to perform well, both in terms of value and transaction volume. Foodservice (FS) showed remarkable dynamism in terms of sector development, bringing new paradigms and cross-pollination with adjacent businesses. After all, the foodservice industry is one of the most important contributors to global and national GDP, especially when considering the whole volume of business influenced by its induced value.Food Service MarketTo know about the Research Methodology :- Request Free Sample Report

Food Service Market Dynamics:

Full-service restaurants are the most common foodservice type, accounting for about half of the global market share and driving expansion alongside the quick-service restaurant segment. The full-service restaurant market is concentrated in the top ten nations by population, which account for more than 80% of the global. China (37%) is first, followed by the United States (28%), and Japan (7%), while Italy is first among Europe countries in terms of market value. When it comes to ownership (chains vs. independent), chains account for over 30% of the global market, with Asia Pacific and Europe driving quicker development than the overall average. On the other hand, North America has the largest chain penetration (55 percent).

Top 10 most ordered cuisines:

In 2022, food delivery stats in Italy exploded, with more than a 30% increase in restaurant-delivery platform partnerships, a 27% increase in service territory coverage, and a coverage rate of about 70% of the Italian population. Millennials (58 percent) are still the most likely to order food for delivery, with a significant preference for pizza. Along with growing demand for quick food and casual dining, increasing consumer awareness of QSRs is one of the primary forces driving the chained foodservice market's growth. Focusing on the type of event, the Retail category leads the way, followed by Entertainment, with the spread of grocerant formats playing a key role. Instead, delivery has grown at a double-digit rate in the last five years in terms of consumption modes. Self-service kiosks are being used by chained foodservice players, who are fulfilling major objectives not just by improving service speed but also by increasing cost-effectiveness. Furthermore, the prevalent habit of socializing in cafes among urban Millennials and the younger people, in general, is fuelling the chained Foodservice market's rise. In addition, fast infrastructural growth in emerging economies, such as new airports and expressways, has provided opportunities for many coffee companies to open locations. As a result of consumers' increased preference for fast food and other ready-to-eat (RTE) food items, rapid-service restaurants in the chained Foodservice business have seen such steady growth. Food & Beverage producers & distributors Foodservice and Away from Home channels are major volume drivers for food and beverage product manufacturers and distributors. Along with branding drivers, bars, coffee shops, and restaurants are important consumer touchpoints for product discovery and experience. Due to the closure of several eateries and a drop in business volume, Covid-19 will have an impact on this segment. Because of the lack of diversification compared to other channels, small and local producers are likely to suffer the most (e.g. retail). Chefs and Foodservice operators Suppliers will raise prices to partially compensate for the decline in the volume of business, which will affect chefs and food service operators. Furthermore, government responses to sanitary emergencies will have a substantial impact on the capacity available on the premises. In this environment, customers will adopt a "homebody" mentality and minimize social events, both for the sake of acquiring information and for the sake of modifying their lifestyles. Delivery platforms The only players that will benefit from the Covid-19 situation are delivery platforms and operators. There could be a manpower/rider scarcity, as well as a lack of fulfillment centers. These players will have more opportunities in the aftermath of the pandemic. The objective of the report is to present a comprehensive analysis of the global Food Service to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Food Service dynamics, structure by analyzing the market segments and project the Food Service size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Food Service make the report investor’s guide.

Food Service Market Scope: Inquire before buying

Global Food Service Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 822.6 Bn.
Forecast Period 2023 to 2029 CAGR: 10.2% Market Size in 2029: US $ 1789.13 Bn.
Segments Covered: by Type Full-Service Restaurants Quick Service Restaurants Institutes Others
by Service Type Commercial Institutional

Food Service Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe) Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina, Columbia and Rest of South America)

Food Service Market, Key Players are

1.Aramark Corporation 2. Compass Group North America 3. Doctor’s Associates Inc. 4. Domino’s 5.McDonald’s Corp. 6. Restaurant Brands International 7. Seven & I Holdings Co. Ltd. 8. Sodexo 9. Starbucks Corporation 10. Yum! Brands Inc 11. Others

Frequently Asked Questions:

1. What was the market size of Food Service Market in 2022? Ans: The global market was worth US $822.6 Billion in 2022. 2. What is the growth rate of the Food Service Market? Ans: The Food Service Market is growing at a CAGR of 10.2% during the forecasting period 2023-2029. 3. What segments are covered in Food Service market? Ans: Food Service Market is segmented into Sector, System, Types of Restaurants, Structure, and region. 4. Who are the key players in Food Service market? Ans: The important key players in the Food Service Market are - Aramark Corporation, Compass Group North America, Doctor’s Associates Inc., Domino’s, McDonald’s Corp., Restaurant Brands International, Seven & I Holdings Co. Ltd., Sodexo, Starbucks Corporation, Yum! Brands Inc., and Others. 5. What is the study period of this market? Ans: The Food Service Market is studied from 2022 to 2029.
1. Food Service Market: Research Methodology 2. Food Service Market Introduction 2.1. Study Assumption and Market Definition 2.2. Scope of the Study 2.3. Executive Summary 3. Food Service Market: Dynamics 3.1. Key trends and consumption shift 3.2. Food Service Market Dynamics by Region 3.2.1. Food Service Market Drivers 3.2.2. Food Service Market Restraints 3.2.3. Food Service Market Opportunities 3.2.4. Food Service Market Challenges 3.3. Consumer Trends and Preferences 3.3.1. Changing Consumer Behavior 3.3.2. Preferences for Healthy Options 3.3.3. Impact of Technology on Consumer Choices 3.4. Technology and Innovation in Food Service 3.4.1. Digital Transformation in the Industry 3.4.2. Automation and Robotics 3.5. PORTER’s Five Forces Analysis 3.6. PESTLE Analysis 3.7. Regulatory Landscape by Region 3.7.1. Global 3.7.2. North America 3.7.3. Europe 3.7.4. Asia Pacific 3.7.5. Middle East and Africa 3.7.6. South America 3.8. Analysis of Government Schemes and Initiatives For Pole Mounted Transformer Industry 3.9. New Frontiers Shaped By Covid-19 4. Food Service Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) (2022-2029) 4.1. Food Service Market Size and Forecast, by Type (2022-2029) 4.1.1. Full-Service Restaurants 4.1.2. Quick Service Restaurants 4.1.3. Institutes 4.1.4. Others 4.2. Food Service Market Size and Forecast, by Service Type (2022-2029) 4.2.1. Commercial 4.2.2. Institutional 4.3. Food Service Market Size and Forecast, by Region (2022-2029) 4.3.1. North America 4.3.2. Europe 4.3.3. Asia Pacific 4.3.4. Middle East and Africa 4.3.5. South America 5. North America Food Service Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) (2022-2029) 5.1. North America Food Service Market Size and Forecast, by Type (2022-2029) 5.1.1. Full-Service Restaurants 5.1.2. Quick Service Restaurants 5.1.3. Institutes 5.1.4. Others 5.2. North America Food Service Market Size and Forecast, by Service Type (2022-2029) 5.2.1. Commercial 5.2.2. Institutional 5.3. Food Service Market Size and Forecast, by Country (2022-2029) 5.3.1. United States 5.3.1.1. United States Food Service Market Size and Forecast, by Type (2022-2029) 5.3.1.1.1. Full-Service Restaurants 5.3.1.1.2. Quick Service Restaurants 5.3.1.1.3. Institutes 5.3.1.1.4. Others 5.3.1.2. United States Food Service Market Size and Forecast, by Service Type (2022-2029) 5.3.1.2.1. Commercial 5.3.1.2.2. Institutional Canada 5.3.1.3. Canada Food Service Market Size and Forecast, by Type (2022-2029) 5.3.1.3.1. Full-Service Restaurants 5.3.1.3.2. Quick Service Restaurants 5.3.1.3.3. Institutes 5.3.1.3.4. Others 5.3.1.4. Canada Food Service Market Size and Forecast, by Service Type (2022-2029) 5.3.1.4.1. Commercial 5.3.1.4.2. Institutional 5.3.2. Mexico 5.3.2.1. Mexico Food Service Market Size and Forecast, by Type (2022-2029) 5.3.2.1.1. Full-Service Restaurants 5.3.2.1.2. Quick Service Restaurants 5.3.2.1.3. Institutes 5.3.2.1.4. Others 5.3.2.2. Mexico Food Service Market Size and Forecast, by Service Type (2022-2029) 5.3.2.2.1. Commercial 5.3.2.2.2. Institutional 6. Europe Food Service Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) (2022-2029) 6.1. Europe Food Service Market Size and Forecast, by Type (2022-2029) 6.2. Europe Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3. Europe Food Service Market Size and Forecast, by Country (2022-2029) 6.3.1. United Kingdom 6.3.1.1. United Kingdom Food Service Market Size and Forecast, by Type (2022-2029) 6.3.1.2. United Kingdom Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.2. France 6.3.2.1. France Food Service Market Size and Forecast, by Type (2022-2029) 6.3.2.2. France Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.3. Germany 6.3.3.1. Germany Food Service Market Size and Forecast, by Type (2022-2029) 6.3.3.2. Germany Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.4. Italy 6.3.4.1. Italy Food Service Market Size and Forecast, by Type (2022-2029) 6.3.4.2. Italy Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.5. Spain 6.3.5.1. Spain Food Service Market Size and Forecast, by Type (2022-2029) 6.3.5.2. Spain Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.6. Sweden 6.3.6.1. Sweden Food Service Market Size and Forecast, by Type (2022-2029) 6.3.6.2. Sweden Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.7. Austria 6.3.7.1. Austria Food Service Market Size and Forecast, by Type (2022-2029) 6.3.7.2. Austria Food Service Market Size and Forecast, by Service Type (2022-2029) 6.3.8. Rest of Europe 6.3.8.1. Rest of Europe Food Service Market Size and Forecast, by Type (2022-2029) 6.3.8.2. Rest of Europe Food Service Market Size and Forecast, by Service Type (2022-2029) 7. Asia Pacific Food Service Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) (2022-2029) 7.1. Asia Pacific Food Service Market Size and Forecast, by Type (2022-2029) 7.2. Asia Pacific Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3. Asia Pacific Food Service Market Size and Forecast, by Country (2022-2029) 7.3.1. China 7.3.1.1. China Food Service Market Size and Forecast, by Type (2022-2029) 7.3.1.2. China Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.1.3. China Food Service Market Size and Forecast, by Type (2022-2029) 7.3.1.4. China Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.2. Japan 7.3.2.1. Japan Food Service Market Size and Forecast, by Type (2022-2029) 7.3.2.2. Japan Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.3. India 7.3.3.1. India Food Service Market Size and Forecast, by Type (2022-2029) 7.3.3.2. India Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.4. Australia 7.3.4.1. Australia Food Service Market Size and Forecast, by Type (2022-2029) 7.3.4.2. Australia Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.5. Indonesia 7.3.5.1. Indonesia Food Service Market Size and Forecast, by Type (2022-2029) 7.3.5.2. Indonesia Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.6. Malaysia 7.3.6.1. Malaysia Food Service Market Size and Forecast, by Type (2022-2029) 7.3.6.2. Malaysia Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.7. Vietnam 7.3.7.1. Vietnam Food Service Market Size and Forecast, by Type (2022-2029) 7.3.7.2. Vietnam Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.8. Taiwan 7.3.8.1. Taiwan Food Service Market Size and Forecast, by Type (2022-2029) 7.3.8.2. Taiwan Food Service Market Size and Forecast, by Service Type (2022-2029) 7.3.9. Rest of Asia Pacific 7.3.9.1. Rest of Asia Pacific Food Service Market Size and Forecast, by Type (2022-2029) 7.3.9.2. Rest of Asia Pacific Food Service Market Size and Forecast, by Service Type (2022-2029) 8. Middle East and Africa Food Service Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) (2022-2029 8.1. Middle East and Africa Food Service Market Size and Forecast, by Type (2022-2029) 8.2. Middle East and Africa Food Service Market Size and Forecast, by Service Type (2022-2029) 8.3. Middle East and Africa Food Service Market Size and Forecast, by Country (2022-2029) 8.3.1. South Africa 8.3.1.1. South Africa Food Service Market Size and Forecast, by Type (2022-2029) 8.3.1.2. South Africa Food Service Market Size and Forecast, by Service Type (2022-2029) 8.3.2. GCC 8.3.2.1. GCC Food Service Market Size and Forecast, by Type (2022-2029) 8.3.2.2. GCC Food Service Market Size and Forecast, by Service Type (2022-2029) 8.3.3. Nigeria 8.3.3.1. Nigeria Food Service Market Size and Forecast, by Type (2022-2029) 8.3.3.2. Nigeria Food Service Market Size and Forecast, by Service Type (2022-2029) 8.3.4. Rest of ME&A 8.3.4.1. Rest of ME&A Food Service Market Size and Forecast, by Type (2022-2029) 8.3.4.2. Rest of ME&A Food Service Market Size and Forecast, by Service Type (2022-2029) 9. South America Food Service Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) (2022-2029 9.1. South America Food Service Market Size and Forecast, by Type (2022-2029) 9.2. South America Food Service Market Size and Forecast, by Service Type (2022-2029) 9.3. South America Food Service Market Size and Forecast, by Country (2022-2029) 9.3.1. Brazil 9.3.1.1. Brazil Food Service Market Size and Forecast, by Type (2022-2029) 9.3.1.2. Brazil Food Service Market Size and Forecast, by Service Type (2022-2029) 9.3.2. Argentina 9.3.2.1. Argentina Food Service Market Size and Forecast, by Type (2022-2029) 9.3.2.2. Argentina Food Service Market Size and Forecast, by Service Type (2022-2029) 9.3.3. Rest Of South America 9.3.3.1. Rest Of South America Food Service Market Size and Forecast, by Type (2022-2029) 9.3.3.2. Rest Of South America Food Service Market Size and Forecast, by Service Type (2022-2029) 10. Global Food Service Market: Competitive Landscape 10.1. MMR Competition Matrix 10.2. Competitive Landscape 10.3. Key Players Benchmarking 10.3.1. Company Name 10.3.2. End-User 10.3.3. Revenue (2022) 10.3.4. Company Locations 10.4. Market Concentration Analysis 10.4.1. Major Players and Market Presence 10.5. Leading Food Service Market Companies, by market capitalization 10.6. Market Structure 10.6.1. Market Leaders 10.6.2. Market Followers 10.6.3. Emerging Players 10.7. Mergers and Acquisitions Details 11. Company Profile: Key Players 11.1. Aramark Corporation 11.1.1. Company Overview 11.1.2. Business Portfolio 11.1.3. Key Players and Market Share 11.1.4. Competitive Strategies SWOT Analysis 11.1.5. Market Strategies of Industry Leaders 11.1.5.1. Product and Service Offerings 11.1.5.2. Market Expansion Strategies 11.1.5.3. Mergers and Acquisitions 11.1.5.4. Collaborations and Partnerships 11.1.6. Sustainability Initiatives Recent Developments 11.2. Compass Group North America 11.3. Doctor’s Associates Inc. 11.4. Seven & I Holdings Co. Ltd. 11.5. Sodexo 11.6. McDonald's 11.7. Starbucks 11.8. Yum! Brands, Inc. 11.9. Darden Restaurants, Inc. 11.10. Restaurant Brands International Inc. 11.11. The Wendy’s Company 11.12. Bloomin’ Brands, Inc. 11.13. Papa John's International, Inc. 11.14. Chipotle Mexican Grill, Inc. 11.15. Domino's 12. Key Findings 13. Industry Recommendations 14. Terms and Glossary
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