Foodservice Market size to grow by USD 13.61 billion from 2022 to 2027, The market is fragmented due to the presence of prominent companies like Compass Group Plc, Aramark and Chick fil A Inc., and many more - Technavio

NEW YORK, Oct. 25, 2023 /PRNewswire/ -- The foodservice market is estimated to grow by USD 13.61 billion from 2022 to 2027, growing at a CAGR of 28.35%. The foodservice market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer foodservice market are Abela and Co. LLC, Aramark, Chick fil A Inc., Compass Group Plc, Dominos Pizza Inc., FOOD and LIFE Co. Ltd., Inspire Brands Inc., Jack in the Box Inc., Jollibee Foods Corp., Little Caesar Enterprises Inc., McDonald Corp., MOS Food Services Inc., Papa Johns International Inc., Performance Food Group Co., Restaurant Brands International Inc., Sodexo SA, Starbucks Corp., Sysco Corp., The Wendys Co., and YUM Brands Inc.The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying

Company Offering:

• Aramark - The company offers foodservice such as catering, food and beverage management, and facilities management services for various industries.
• Chick fil A Inc. - The company offers foodservice such as a fast food restaurant chain known for its chicken-based menu.
• Compass Group Plc - The company offers foodservice such as contract foodservices, including catering, vending, and dining services.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as APAC, North America, Europe, South America, and Middle East and Africa. 

• APAC is estimated to contribute 43% to the growth of the global market during the forecast period. The lives of consumers in the region are changing due to rising employment and income levels. It is also the increase in demand for convenience that has been a consequence of growing numbers of consumers who work and need to have some time, which makes it more probable that they will seek out food options suited to their needs.

Download a sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Increasing demand for food away from home
• Key Trend - Increased snacking and indulgence consumption
• Major Challenges - Labor shortages in the food service sector

 Market Segmentation

• By Service, the market is classified into conventional, centralized, ready-prepared, and assembly-serve. The conventional segments are estimated to witness significant growth during the forecast period. A typical system that most trade operators are using is the conventional food service system. In this way, customers are assured that their food will be prepared fresh and customized according to their preference using a standard catering system.

Technavio Research experts have provided more insights on the market share of segments - View Sample Report

Related Reports

The mobile food services (MFS) market size is estimated to grow at a CAGR of 8.84% between 2022 and 2027. The market size is forecast to increase by USD 15.04 billion. 

The dining out market size is estimated to grow at a CAGR of 53.21% between 2022 and 2027. The dining out market size is forecast to increase by USD 9,365.88 billion.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Service

7 Market Segmentation by Sector

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact US:

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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