Global - The Future of Foodservice to 2027

Global - The Future of Foodservice to 2027

Summary

“Future of Foodservice Industry by Channel, Trends, Profit and Cost Metrics, Outlet-Type, Transactions, Growth Dynamics and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the Global Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.

The total revenue of the global profit sector totaled $3.7 trillion in 2022, having declined at a negative compound annual growth rate (CAGR) of 1% during 2017-22. The number of transactions declined at a negative CAGR of 1%, while the outlet count grew at a CAGR of 0.6%. The COVID-19 pandemic caused an economic slowdown that disrupted the profit sector’s performance in 2020-21. In addition, foodservice sales were impacted by high inflation in 2022 due to the Russia-Ukraine conflict. In 2022, FSR was the largest foodservice channel, with a value share of 39%, followed by QSR with 29.2%. Pub, club & bar was the third-largest channel by revenue in 2022, with value sales of $317 billion, equivalent to a 8.6% share of overall sector revenue. It was followed by the accommodation channel, which held a 5.9% share.

The report includes -

• Overview of Global' macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Global foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, coffee & tea shop, and pub, club & bar) within the Global foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the Global population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

• QSR was the second-largest channel in global foodservice profit sector in 2022, with a value share of 29.2%. Over 2017-22, the channel’s sales declined at a negative CAGR of 2% and totaled and totaled $1,074.4 billion in 2022.
• Valued at $1,436.4 billion in 2022, FSR is the largest channel in the global foodservice profit sector. The channel accounted for a 39% share of total profit sector revenue in 2022. Due to pandemic-related restrictions, the channel decreased at a negative CAGR of 0.6% during 2017-22. Furthermore, the number of transactions declined at a negative CAGR of 1% over the period.
• The coffee & tea shop channel posted value sales of $197.4 billion in 2022, after decreasing at a negative CAGR of 1.2% during 2017-22. Over the latter period, the number of transactions also fell, contracting at a negative CAGR of 0.4%, while the number of outlets achieved a CAGR of 4.2%. Milk, carbonates, and packaged water are the channel’s most popular options in terms of non-alcoholic beverages.
• Pub, club & bar accounted for 8.6% of profit sector value sales in 2022. The channel contracted at a negative CAGR of 5.4% during 2017-22, from $419.3 billion to $317.5 billion. This reflected the negative impact on consumer spending of COVID-19 restrictions and high inflation.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022-27) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar) will allow readers understand the wants and needs of their target demographics.