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The global food service market size reached US$ 2,750 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3,629 Billion by 2027, exhibiting a growth rate (CAGR) of 3.85% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Foodservice refers to the sale of food and beverages that are prepared for immediate consumption or for takeaways and home deliveries. Foodservice outlets are classified into two sectors: commercial establishments which include fast-food restaurants, catering, nightclubs and recreational outlets. Non-commercial outlets which include food operations that run inside the premises of an organizations such as hospitals, schools, military bases, etc. The food service market can also be classified on the basis of operation systems, into conventional system where the ingredients are assembled, prepared and served on the same premises. Centralized system, in which food production is centralized and is then transported to the kitchens at different locations. Ready prepared system in which the food is prepared onsite and stored chilled or frozen until required, and assembly-serve systems in which pre-prepared foods are purchased, stored, assembled, and served to the consumer.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Growing demand for customization and innovation in food menu options is among the key factors driving the global foodservice market. Consumers are provided with a wide variety of alternatives to customize their meals according to their taste, dietary and budget preferences. Millennials and working professionals are the key target consumers for the market owing to their increasing preference for hassle-free, nutritious and hygienic food that is readily available. Additionally, commercial restaurants and cafés have emerged as a convenient place for teenagers, families, and young professionals to socialize and relax, thus catalyzing the growth of the market. Moreover, development of e-commerce/online platforms and on-the-go food services coupled with innovations in packaging, introduction of low-fat beverages, gluten free products, etc, are also contributing significantly to the growth of the market. Furthermore, factors such as increasing number of working women, reduced practice of preparing home-cooked meals, increasing disposable incomes, improving distribution channels, etc. are also catalysing the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global food service market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on sector, systems and types of restaurants.
Breakup by Sector:
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Breakup by Systems:
Breakup by Types of Restaurants:
Breakup Region:
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The report has also analysed the competitive landscape of the market along with the profiles of the key players operating in the market.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Sector, Systems, Types of Restaurants, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global food service market was valued at US$ 2,750 Billion in 2021.
We expect the global food service market to exhibit a CAGR of 3.85% during 2022-2027.
The rising availability of wide range of meal customization alternatives catering to the diverse taste,
dietary, and budget preferences of the consumers, is primarily driving the global food service
market.
The sudden outbreak of the COVID-19 pandemic has led to the growing demand for online food
services among the individuals, owing to the temporary closure of dine-in facilities during the
lockdown scenario across several nations.
Based on the sector, the global food service market can be categorized into commercial and non-
commercial, where the commercial sector exhibits clear dominance in the market.
Based on the systems, the global food service market has been segmented into conventional
foodservice system, centralized foodservice system, ready prepared foodservice system, and
assembly-serve foodservice system. Among these, conventional foodservice system represents the
largest market share.
Based on the types of restaurants, the global food service market can be bifurcated into fast food
restaurants, full-service restaurants, limited service restaurants, and special food services
restaurants. Currently, full-service restaurants account for the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
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