What is Food Service Market?
Food Service is comprises of broad range of services offered which includes the food prepared outside, ingredient business, food delivery business and others. A large number of services, goods, and products fall under the food service providers. Rapid urbanisation and the growth of the disposable income has led to changing consumer behaviours, such as rise of out of home food consumption culture among the young. The food services industry is one of the largest in the world and thus employees several millions of workers. Emergence of New services such as ready to eat and home delivery have also grown in popularity in the recent years due to fast moving urban lifestyle of the young people. Geographically, North America and the Asia Pacific region are the two most prominent markets of the food service.
The market study is being classified by Type (Full-Service Restaurants, Quick Service Restaurants, Cafes/Bars, Home Delivery and Others), by Application (Commercial and Non-Commercial) and major geographies with country level break-up.
Domino's Pizza Inc. (United States), McDonald's Corp. (United States), KFC (United States), Starbucks Corporation (United States), Burger King (United States), Coffee Day Enterprises Ltd. (India), Barbeque Nation (India), Pizza Hut (United States), Subway (United States) and Yum! Brands Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Chipotle Mexican Grill, Inc. (United States), Dunkin' Donuts LLC (United States) and Taco Bell (United States).
Analyst at AMA have segmented the market study of Global Food Service market by Type, Application and Region.
On the basis of geography, the market of Food Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rapid Urbanisation and Rising Disposable Income
- Growth of the Food and Beverages Market
- Ready-Prepared are rising in Popularity
- Rising Competition due to Presence of Large Number of Players
- Asia Pacific Region is expected to Grow Further
- Increase in Government Regulations to Prevent Adulteration and Contamination
Market Leaders and some development strategies
In 2019, Kelso & Company, a United States based private equity firm has announced acquisition of Individual FoodService, which is a leading distributor of Food Service Disposables and Janitorial & Sanitation products. Kelso can provide its financial resources as well as share its expertise in the field of distribution to accelerate the growth of the Individual FoodService.
In 2019, Performance Food Group, a leading innovative food distributer and supplier has announced completion of acquisition of Reinhart Foodservice. Reinhart Foodservice which is also positioned as one of the five largest food distributers in United States. The acquisition will significantly improve the market standing as well as enhance the distribution network of the Performance Food Group.
Key Target AudienceFood Service Manufacturers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Food Service Market?
"Rapid Urbanisation and Rising Disposable Income
" is seen as one of major growth factors of Food Service Market in years to come.
2. Can we have customized study for Food Service Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Food Service Market?
will lead the Food Service Market.