Global Foodservice Market, By Type (Dining Service (Hotels, Restaurants), QSR (Quick Service Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others), By Ownership (Independent Outlets vs.
New York, June 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Foodservice Market, By Type, By Ownership, By Region, Competition, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06089423/?utm_source=GNW
Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026
The global foodservice market was valued at USD3093.96 billion in 2020, but it is projected to rise at a CAGR of over 4.72 percent in the coming years, to reach USD3978.83 billion by the end of 2026. Some of the trends in this market include a continuous change in consumer tastes, increasing innovation in existing products, rapid urbanization, attractive packaging of the food offered, hectic lifestyle, changing routine, and availability of different flavors which are expected to further enhance the growth of this market through 2026.
The foodservice industry is now, not only about tastes, but it is the research and development of functional and sustainable food products.Moreover, people have become more aware of the functional and anti-aging food products, so the prime focus of the foodservice industry is to cater to the demands related to products, which are good for anti-aging of skin, mind, muscle tissue, etc.
Even the products like pasta, bread, or coffee are no longer considered only as a convenience product but have evolved into true luxury items as a result of variants.
The global foodservice market is categorized on the basis of ownership into chained outlets and independent outlets.Among them chained outlet represents almost 30% of the global foodservice market, showing a faster growth rate driven by Asia-Pacific and Europe.
However, North America is the region with the highest chained outlet penetration (55%). It is the increasing consumer awareness about quick-service restaurants, the reason being one of the key drivers boosting the demand for foodservice market’s development which is altogether leading towards the high demand for fast food and casual dining.
In terms of region, the global foodservice market is categorized into North America, South America, Europe, Asia-Pacific, and Middle East & Africa.Among these regions, Asia-Pacific is the one, which is expected to maintain the first position in terms of market share.
As well as it is expected to contribute almost 40% of the total market of 2026, followed by North America and Europe.
United States held the largest market share of the foodservice industry in terms of the country in the year 2020.It is expected to maintain the first position in the market considering the GDP and the food consumption pattern.
After the United States, China and India hold the second and third positions at the global level respectively.
Today, the foodservice market has become an attractive destination for investments and several large multinational companies are entering this market. Some of the major companies are Compass Group PLC, McDonald’s Corporation, Performance Food Group Company, Sodexo Group, Aramark Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., Domino’s Pizza, Inc., Autogrill S.p.A., and Starbucks Corporation. The global foodservice market is highly fragmented due to many local and international suppliers.
Years considered for this report:
• Historical Years: 2016-2019
• Base Year: 2020
• Estimated Year: 2021
• Forecast Period: 2022–2026
Objective of the Study:
• To analyze the historical growth rate of market size of global foodservice market from 2016 to 2020.
• To estimate and forecast the market size of global foodservice market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast global foodservice market based on By type, By ownership, company, and region.
• To identify dominant region or segment in the global foodservice market.
• To identify drivers and challenges for global foodservice market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global foodservice market.
• To identify and analyze the profile of leading players operating in global foodservice market.
• To identify key sustainable strategies adopted by market players in global foodservice market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers and presence of all major players across the globe.
The analyst calculated the market size of the global foodservice market using a bottom-up approach, wherein data for the various end-user’s segment was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these Types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by the analyst.
Key Target Audience:
• Manufacturers, distributors, and end-users
• Market research and consulting firms
• Government bodies such as regulating authorities and policymakers.
• Organizations, forums, and alliances related to foodservice.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global foodservice market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Global Foodservice Market, By Type:
o Dining Service (Hotels, Restaurants)
o QSR (Quick Service Restaurants)
o PBCL (Pubs, Bars, Cafe and Lounges)
o Others (Cafeteria, Ghost Kitchens, Catering and Vending Companies)
• Global Foodservice Market, By Ownership:
o Independent Outlets
o Chained Outlets
• Global Foodservice Market, By Region:
o North America
o Middle East and Africa
o South America
Company Profiles: Detailed analysis of the major companies present in Global Foodservice market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089423/?utm_source=GNW
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