Food Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global food service market size reached US$ 2,880.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,787.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.8% during 2023-2028.
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.
Global Food Service Market Trends:
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 cafйs 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.
Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on sector, systems and types of restaurants.
Breakup by Sector:
Commercial
Non-commercial
Breakup by Systems:
Conventional Foodservice System
Centralized Foodservice System
Ready Prepared Foodservice System
Assembly-Serve Foodservice System
Breakup by Types of Restaurants:
Fast Food Restaurants
Full-Service Restaurants
Limited Service Restaurants
Special Food Services Restaurants
Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market along with the profiles of the key players operating in the market.
Key Questions Answered in This Report
1. What was the size of the global food service market in 2022?
2. What is the expected growth rate of the global food service market during 2023-2028?
3. What are the key factors driving the global food service market?
4. What has been the impact of COVID-19 on the global food service market?
5. What is the breakup of the global food service market based on the sector?
6. What is the breakup of the global food service market based on the systems?
7. What is the breakup of the global food service market based on the types of restaurants?
8. What are the key regions in the global food service market?
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.
Global Food Service Market Trends:
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 cafйs 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.
Key Market Segmentation:
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 2023-2028. Our report has categorized the market based on sector, systems and types of restaurants.
Breakup by Sector:
Commercial
Non-commercial
Breakup by Systems:
Conventional Foodservice System
Centralized Foodservice System
Ready Prepared Foodservice System
Assembly-Serve Foodservice System
Breakup by Types of Restaurants:
Fast Food Restaurants
Full-Service Restaurants
Limited Service Restaurants
Special Food Services Restaurants
Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America
Competitive Landscape:
The report has also analysed the competitive landscape of the market along with the profiles of the key players operating in the market.
Key Questions Answered in This Report
1. What was the size of the global food service market in 2022?
2. What is the expected growth rate of the global food service market during 2023-2028?
3. What are the key factors driving the global food service market?
4. What has been the impact of COVID-19 on the global food service market?
5. What is the breakup of the global food service market based on the sector?
6. What is the breakup of the global food service market based on the systems?
7. What is the breakup of the global food service market based on the types of restaurants?
8. What are the key regions in the global food service market?
1 PREFACE
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL FOOD SERVICE MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Sector
5.5 Market Breakup by Systems
5.6 Market Breakup by Types of Restaurants
5.7 Market Breakup by Region
5.8 Market Forecast
6 MARKET BREAKUP BY SECTOR
6.1 Commercial
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Non-commercial
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY SYSTEMS
7.1 Conventional Foodservice System
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Centralized Foodservice System
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Ready Prepared Foodservice System
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Assembly-Serve Foodservice System
7.4.1 Market Trends
7.4.2 Market Forecast
8 MARKET BREAKUP BY TYPES OF RESTAURANTS
8.1 Fast Food Restaurants
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Full-Service Restaurants
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Limited Service Restaurants
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Special Food Services Restaurants
8.4.1 Market Trends
8.4.2 Market Forecast
9 MARKET BREAKUP BY REGION
9.1 Asia Pacific
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 North America
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Europe
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT ANALYSIS
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 VALUE CHAIN ANALYSIS
12 PORTERS FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
2 SCOPE AND METHODOLOGY
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 EXECUTIVE SUMMARY
4 INTRODUCTION
4.1 Overview
4.2 Key Industry Trends
5 GLOBAL FOOD SERVICE MARKET
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Sector
5.5 Market Breakup by Systems
5.6 Market Breakup by Types of Restaurants
5.7 Market Breakup by Region
5.8 Market Forecast
6 MARKET BREAKUP BY SECTOR
6.1 Commercial
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Non-commercial
6.2.1 Market Trends
6.2.2 Market Forecast
7 MARKET BREAKUP BY SYSTEMS
7.1 Conventional Foodservice System
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Centralized Foodservice System
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Ready Prepared Foodservice System
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Assembly-Serve Foodservice System
7.4.1 Market Trends
7.4.2 Market Forecast
8 MARKET BREAKUP BY TYPES OF RESTAURANTS
8.1 Fast Food Restaurants
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Full-Service Restaurants
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Limited Service Restaurants
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Special Food Services Restaurants
8.4.1 Market Trends
8.4.2 Market Forecast
9 MARKET BREAKUP BY REGION
9.1 Asia Pacific
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 North America
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Europe
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Middle East and Africa
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Latin America
9.5.1 Market Trends
9.5.2 Market Forecast
10 SWOT ANALYSIS
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 VALUE CHAIN ANALYSIS
12 PORTERS FIVE FORCES ANALYSIS
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 PRICE ANALYSIS
14 COMPETITIVE LANDSCAPE
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
LIST OF TABLES
Table 1: Global: Food Service Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Food Service Market Forecast: Breakup by Sector (in Billion US$), 2023-2028
Table 3: Global: Food Service Market Forecast: Breakup by Systems (in Billion US$), 2023-2028
Table 4: Global: Food Service Market Forecast: Breakup by Types of Restaurants (in Billion US$), 2023-2028
Table 5: Global: Food Service Market Forecast: Breakup by Region (in Billion US$), 2023-2028
Table 6: Global: Food Service Market: Competitive Structure
Table 7: Global: Food Service Market: Key Players
Table 1: Global: Food Service Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Food Service Market Forecast: Breakup by Sector (in Billion US$), 2023-2028
Table 3: Global: Food Service Market Forecast: Breakup by Systems (in Billion US$), 2023-2028
Table 4: Global: Food Service Market Forecast: Breakup by Types of Restaurants (in Billion US$), 2023-2028
Table 5: Global: Food Service Market Forecast: Breakup by Region (in Billion US$), 2023-2028
Table 6: Global: Food Service Market: Competitive Structure
Table 7: Global: Food Service Market: Key Players
LIST OF FIGURES
Figure 1: Global: Food Service Market: Major Drivers and Challenges
Figure 2: Global: Food Service Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Food Service Market: Breakup by Sector (in %), 2022
Figure 4: Global: Food Service Market: Breakup by Systems (in %), 2022
Figure 5: Global: Food Service Market: Breakup by Types of Restaurants (in %), 2022
Figure 6: Global: Food Service Market: Breakup by Region (in %), 2022
Figure 7: Global: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Food Service Industry: SWOT Analysis
Figure 9: Global: Food Service Industry: Value Chain Analysis
Figure 10: Global: Food Service Industry: Porter’s Five Forces Analysis
Figure 11: Global: Food Service (Commercial) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 12: Global: Food Service (Commercial) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 13: Global: Food Service (Non-commercial) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 14: Global: Food Service (Non-commercial) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 15: Global: Food Service (Conventional Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 16: Global: Food Service (Conventional Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 17: Global: Food Service (Centralized Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 18: Global: Food Service (Centralized Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 19: Global: Food Service (Ready Prepared Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 20: Global: Food Service (Ready Prepared Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 21: Global: Food Service (Assembly-Serve Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 22: Global: Food Service (Assembly-Serve Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 23: Global: Food Service (Fast Food Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 24: Global: Food Service (Fast Food Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 25: Global: Food Service (Full-Service Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 26: Global: Food Service (Full-Service Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 27: Global: Food Service (Limited Service Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 28: Global: Food Service (Limited Service Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 29: Global: Food Service (Special Food Services Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 30: Global: Food Service (Special Food Services Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 31: Asia Pacific: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 32: Asia Pacific: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 33: North America: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 34: North America: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 35: Europe: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 36: Europe: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 37: Middle East and Africa: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 38: Middle East and Africa: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 39: Latin America: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 40: Latin America: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 1: Global: Food Service Market: Major Drivers and Challenges
Figure 2: Global: Food Service Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Food Service Market: Breakup by Sector (in %), 2022
Figure 4: Global: Food Service Market: Breakup by Systems (in %), 2022
Figure 5: Global: Food Service Market: Breakup by Types of Restaurants (in %), 2022
Figure 6: Global: Food Service Market: Breakup by Region (in %), 2022
Figure 7: Global: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Food Service Industry: SWOT Analysis
Figure 9: Global: Food Service Industry: Value Chain Analysis
Figure 10: Global: Food Service Industry: Porter’s Five Forces Analysis
Figure 11: Global: Food Service (Commercial) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 12: Global: Food Service (Commercial) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 13: Global: Food Service (Non-commercial) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 14: Global: Food Service (Non-commercial) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 15: Global: Food Service (Conventional Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 16: Global: Food Service (Conventional Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 17: Global: Food Service (Centralized Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 18: Global: Food Service (Centralized Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 19: Global: Food Service (Ready Prepared Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 20: Global: Food Service (Ready Prepared Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 21: Global: Food Service (Assembly-Serve Foodservice System) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 22: Global: Food Service (Assembly-Serve Foodservice System) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 23: Global: Food Service (Fast Food Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 24: Global: Food Service (Fast Food Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 25: Global: Food Service (Full-Service Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 26: Global: Food Service (Full-Service Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 27: Global: Food Service (Limited Service Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 28: Global: Food Service (Limited Service Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 29: Global: Food Service (Special Food Services Restaurants) Market: Sales Value (in Billion US$), 2017 & 2022
Figure 30: Global: Food Service (Special Food Services Restaurants) Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 31: Asia Pacific: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 32: Asia Pacific: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 33: North America: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 34: North America: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 35: Europe: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 36: Europe: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 37: Middle East and Africa: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 38: Middle East and Africa: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 39: Latin America: Food Service Market: Sales Value (in Billion US$), 2017 & 2022
Figure 40: Latin America: Food Service Market Forecast: Sales Value (in Billion US$), 2023-2028
