What is Food Service Market?
Food Service is comprises of broad range of services offered which includes the food prepared outside, ingredient business, food delivery business and others. A large number of services, goods, and products fall under the food service providers. Rapid urbanisation and the growth of the disposable income has led to changing consumer behaviours, such as rise of out of home food consumption culture among the young. The food services industry is one of the largest in the world and thus employees several millions of workers. Emergence of New services such as ready to eat and home delivery have also grown in popularity in the recent years due to fast moving urban lifestyle of the young people. Geographically, North America and the Asia Pacific region are the two most prominent markets of the food service.
Highlights from Food Service Market Study
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Domino's Pizza Inc. (United States), McDonald's Corp. (United States), KFC (United States), Starbucks Corporation (United States), Burger King (United States), Coffee Day Enterprises Ltd. (India), Barbeque Nation (India), Pizza Hut (United States), Subway (United States) and Yum! Brands Inc. (United States) |
Domino's Pizza Inc. (United States), McDonald's Corp. (United States), KFC (United States), Starbucks Corporation (United States), Burger King (United States), Coffee Day Enterprises Ltd. (India), Barbeque Nation (India), Pizza Hut (United States), Subway (United States) and Yum! Brands Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Chipotle Mexican Grill, Inc. (United States), Dunkin' Donuts LLC (United States) and Taco Bell (United States). Food Service Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Commercial and Non-Commercial |
Type | Full-Service Restaurants, Quick Service Restaurants, Cafes/Bars, Home Delivery and Others |
Restaurant Types | Fast Food Restaurants,Full-Service Restaurants,Limited Service Restaurants,Special Food Services Restaurants |
System | Conventional,Centralized,Ready-Prepared,Assembly Serve |
On the basis of geography, the market of Food Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Ready-Prepared are rising in Popularity
Market Growth Drivers:
Rapid Urbanisation and Rising Disposable Income and Growth of the Food and Beverages Market
Challenges:
Increase in Government Regulations to Prevent Adulteration and Contamination
Restraints:
Rising Competition due to Presence of Large Number of Players
Opportunities:
Asia Pacific Region is expected to Grow Further
Key Target Audience
Food Service Manufacturers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
Market Leaders & Development Strategies
In 2019, Kelso & Company, a United States based private equity firm has announced acquisition of Individual FoodService, which is a leading distributor of Food Service Disposables and Janitorial & Sanitation products. Kelso can provide its financial resources as well as share its expertise in the field of distribution to accelerate the growth of the Individual FoodService.
In 2019, Performance Food Group, a leading innovative food distributer and supplier has announced completion of acquisition of Reinhart Foodservice. Reinhart Foodservice which is also positioned as one of the five largest food distributers in United States. The acquisition will significantly improve the market standing as well as enhance the distribution network of the Performance Food Group.