Food Service Market Overview
The size of the global food service market will grow at a CAGR of 5% during the forecast period 2017-2021. This growth in market size will be attributed to the increasing demand for healthy and nutritious food on menus as consumers are becoming more health conscious due to the increasing prevalence of obesity and heart problems, while increasingly avoiding unhealthy food products that are rich in fats and carbohydrates. This has led to the growth of numerous commercial and non-commercial foodservice outlets that offer healthy food in their menus.
Geographically, the food service market will experience steady growth in numerous major regions. The food service market in APAC will witness a CAGR of 7% by 2021, led by China who has the highest number of cafes/bars. The food service market in the United States will grow at a 6% CAGR by 2021, driven by effective marketing campaigns and major market players utilizing several social media platforms to attract consumers between the age group of 18-26.
Food Service Market Insights
- Several restaurants, cafés, and non-commercial food service outlets have started serving nutritious and healthy meals, which helps consumers in reducing their total calorie intake. They often serve half or full-size salads containing fresh fruits and vegetables, which not only provides healthy food intake to consumers but also increases their market share. The food service industry is expected to witness steady growth through 2021 with the growing demand for customized food menus and fresh-quality ingredients in the foods served.
- The size of the global food service gloves market will increase more than USD 1.5 billion between 2017-2021 driven by improved features of disposable and non-disposable gloves, which help increase the operational efficiency. This market is expected to reach nearly USD 6.3 billion in size by 2021.
- Market participants are coming up with innovations in packaging for home delivery and takeaway food. They are implementing several types of innovative packaging like biodegradable packaging and compostable packaging for food products. Corrugated packaging is the most preferred form of packaging owing to their thermal properties and ability to keep the food fresh for longer periods.
- The food service market in APAC is dominated by the restaurant segment which accounts for more than 46% of the total market share.
- The increasing popularity of food trucks will a major factor driving the growth of the mobile food service market. In emerging economies, consumers are steadily demanding for fast food. This growing demand is encouraging mobile foodservice fast-food operators to enhance and strengthen their domestic and international presence. Also, factors such as low initial capital investments, yearly overhead, and the increasing popularity of street food among the urban youth population are leading to a rising number of food trucks.
Food Service Market Share and Segmentation
Within our food service industry analysis, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment this market by food service sectors, systems, types, and applications.
Conventional Foodservice System Market
The conventional foodservice system market will experience steady growth through 2021 owing to the prevalence of this type of foodservice system worldwide. Additionally, this segment is driven by the high quality of food because it is prepared on the premises.
Centralized Food Service System Market
Centralized food service systems are the best option for mass food production due to its benefits such as low labor and food costs and economies of scale, which is leading to non-commercial foodservice outlets implementing this system. This system is primarily used by airline caterers, large city schools, and franchised organizations that provide food to various outlets.
Our food service market segmentation research offerings include:
- Food Service Market by Sector
- Commercial foodservice market
- Non-commercial foodservice market
- Food Service Market by System
- Conventional food service system market
- Centralized food service system market
- Ready-prepared food service system market
- Assembly serve food service system market
- Food Service Market by Type
- Full-Ssrvice Restaurant market
- Café and bars market
- Quick service restaurant market
- Fast casual restaurant market
- Food Service Market by Application
- Food service in restaurants market
- Food service in colleges market
- Food service in school market
- Food service in universities market
We at Technavio, with our comprehensive understanding of the food service market, have been monitoring the latest industry trends and developments to create an in-depth portfolio of market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our food service report offers the following insights:
- Food service industry overview
- Food service industry statistics
- Food service market share
- Food service market size
- Food service market growth
- Food service market forecast
- Food service market trends
Food Service Market Research: Report Catalog