Global Foodservice Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Foodservice Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Foodservice market finds that the global Foodservice market reached a value of USD 3613407.29 million in 2022. It’s expected that the market will achieve USD 4524212.0 million by 2028, exhibiting a CAGR of 3.82% during the forecast period.

Standardization is difficult to achieve.

After all, the same-store growth of restaurants is limited. In the end, it is necessary to rely on expansion to achieve rapid growth of catering companies. However, most catering companies rely heavily on chefs and fail to achieve standardized production of dishes. Get a scale effect bonus after restaurant expansion.

Demand-side consumption upgrade trend appears

The young group accounts for nearly one-third of the total population and is the main consumer group for casual dining, with a high frequency of consumption. Customers' needs for food and beverage are not limited to safety, but have been upgraded to the pursuit of good products, high cost performance, comfortable environment, personalized experience, and even beautiful emotional transmission. At the same time, with the accelerated pace of life and changes in living habits, people are more inclined to choose chain brand stores with standardized products, controlled experience and guaranteed quality. For many companies, new consumer demand gives the market new opportunities.

Difficult to meet all consumer preferences

There are many categories in the catering industry, and the consumption distribution of customers is extremely dispersed. Only those catering categories with a high degree of acceptance can achieve a higher frequency of consumption and expand across regions without being restricted by regional taste differences.

Region Overview:

USA is projected to account for a considerable share of the Foodservice market and is expected to become the largest region by 2028.

Company Overview:

Yum!Brands is one of the major players operating in the Foodservice market, holding a share of 1.65% in 2023.

Yum!Brands

Yum! Brands, Inc, owns and franchises quick-service restaurants worldwide. The Company develops, operates, franchises, and licenses a worldwide system of restaurants which prepare, package, and sell a menu of food items.

Starbucks

Starbucks is the world's largest coffee chain. Its retail products include more than 30 of the world's top coffee beans, handmade espresso coffee and a variety of hot and cold coffee beverages, fresh and delicious pastries, and a wide variety of coffee machines and coffee cups.

Segmentation Overview:

Among different product types, Conventional Foodservice System segment is anticipated to contribute the largest market share in 2028.

Application Overview:

The market's largest segment by application is the segment Restaurants, with a market share of 46.92% in 2022.

Key Companies in the global Foodservice market covered in Chapter 3:

Dicos
Zensho Holdings
Performance Food Group
White Castle Management
Wendy’s
Domino's
Carl's Junior Restaurant
McDonald's
CulinArt
In-N-Out Burger
Yum!Brands
Starbucks
Compass Group
Restaurant Brands International
Sodexo
Darden Restaurants
Brinker International Inc.
Jollibee Foods
Autogrill
Aramark
HaiDiLao Hotpot
Mr. Lee's
Chipotle Mexican Grill
The Little Caesars

In Chapter 4 and Chapter 14.2, on the basis of types, the Foodservice market from 2018 to 2029 is primarily split into:

Conventional Foodservice System
Centralized Food Service System
Ready-Prepared Foodservice System
Assembly Serve Foodservice System
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Foodservice market from 2018 to 2029 covers:

Restaurants
Employee Canteens
Airlines
Schools & Kindergarten
Nursing Homes
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)