The IMARC Group provides extensive analysis of the food service industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on food service market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
Informed covered in the report:
- Historical market data from 2016-2021
- CAGR of the market during the forecast period 2022-2027
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the Keyword market size and its contribution to the parent market
- Upcoming market trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information on key players
- Comprehensive details of factors that will challenge the growth of smart meters market key players
The global food service market reached a value of US$ 2,750 Billion in 2021. Food service represents the sale of food and beverages that are primarily prepared for immediate consumption or for takeaways and home deliveries. It includes commercial and non-commercial outlets, such as cafeterias in schools and hospitals, fine dining restaurants, etc. Food service majorly includes ready-prepared systems, where the food is prepared onsite and kept frozen until required, and assembly-serve systems, where pre-prepared foods are purchased, stored, assembled, and served to the consumer. This system offers convenience, a wide variety of food options, professional management, etc.
Food Service Market Trends:
The escalating demand for customized food menu options is one of the significant factors driving the food service market. Furthermore, consumers are being offered numerous alternatives to customize their meals as per their taste, dietary, and budget preferences, which is propelling the market growth. Besides this, the shifting preferences of working individuals towards hassle-free, nutritious, and hygienic food items that are readily available across diverse distribution channels are catalyzing the product demand. In addition to this, the rising penetration of commercial restaurants and cafés owing to the emerging trend of casual dining is further augmenting the growth of the food service market. Additionally, several other factors, including the increasing number of working women, inflating disposable incomes, improving distribution channels, etc., are expected to fuel the food service market in the coming years. Looking forward, IMARC Group expects the food service market to reach US$ 3,629 Billion by 2027, exhibiting a CAGR of 3.85% during 2022-2027.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Sector:
Breakup by Systems:
- Conventional Foodservice System
- Centralized Foodservice System
- Ready Prepared Foodservice System
- Assembly-Serve Foodservice System
Breakup by Types of Restaurants:
- Fast Food Restaurants
- Full-Service Restaurants
- Limited-Service Restaurants
- Special Food Services Restaurants
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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