Global Food Service Industry Analysis 2023
The report has categorized the global food service market based on sector, systems and types of restaurants.
BROOKLYN, NY, USA, April 18, 2023 /EINPresswire.com/ — IMARC Group has recently released a new research study titled “Food Service Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
How big is the food service market?
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.
What is mean by food service?
Food service represents the sale of food and beverages that are prepared for immediate consumption or for home deliveries and takeaways. It can be classified into conventional, assembly-serve, centralized, and ready-prepared types. Food service systems offer quality food from multiple cuisines, help individuals save cooking time, and ensure the comfort of homemade foods. They even prove highly cost-effective and hassle-free to consumers. Consequently, food service solutions are in widespread demand across the globe.
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Food Service Market Trends and Growth Drivers:
The expanding working population and the rising need for nutritious, convenient, hygienic, and readily available meals, owing to the hectic and busy lifestyle of the masses, are among the key factors driving the food service market. Additionally, the increasing customization and innovation in food menu options by leading market players to provide customers with an extensive variety of alternatives and adequately cater to taste, dietary, and budget preferences are acting as another significant growth-inducing factor.
Besides this, the growing number of commercial restaurants and cafés that act as convenient places for teenagers, young professionals, and families to socialize and relax is also positively influencing the global market. In line with this, the launch of quick-service restaurants (QSRs) and the development of several e-commerce and online platforms and on-the-go food services applications are further stimulating the market growth. Moreover, the introduction of low-fat, zero-sugar, and gluten-free food items by leading market players and the elevating innovations in packaging to facilitate safe delivery of the products are expected to propel the food service market over the forecasted period.
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Food Service Market Report Segmentation:
The 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
Geographical Analysis:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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