Market Research Report
Global Food Service Market Size study with COVID-19 Impact, by Sector, by System and Regional Forecasts 2020-2026
|Global Food Service Market Size study with COVID-19 Impact, by Sector, by System and Regional Forecasts 2020-2026|
Published: May 10, 2020
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
Global Food Service Market is valued approximately at USD XX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2026. The food service companies are facing reduced business as well as disrupted supply chains, as at-home consumption has increased but out-of-home consumption that generates highest margin has come to standstill. There may be a long-term changes likely to be seen in customer behavior and demand due to Covid-19. Food service refers to the distribution of food and beverages that are prepared for immediate consumption or for takeaways and home deliveries. Foodservice outlets are commercial establishments which include fast-food restaurants, catering, nightclubs and recreational outlets and Non-commercial outlets includes food operations that run inside the premises of an organizations such as schools, hospitals, military bases, etc. The rising demand for cafes, restaurants and boutique food places as well as Hectic work schedules and increasing popularity of mobile foodservice outlets, especially food trucks are the few factors responsible for growth of the market over the forecast period. Furthermore, introduction of innovative products and other strategic alliance by various market player will create a lucrative demand for this market. For instance, as per company's news release in June 2019, Compass Group Plc announced an agreement with Fazer Group to acquire Fazer Food Services for around USD $518 million. This acquisition will allow Compass Group to expand its innovative solutions for its clients and consumers as well as both the companies will focues on high qualityy food and outstanding customer services. However, mobile foodservice outlets is the major factor opportunistic the growth of global Food Service market during the forecast period.
The regional analysis of global Food Service market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major market player included in this report are:
Compass Group Plc
Domino's Pizza, Inc.
Inspire Brands, Inc.
Performance Food Group Co.
Restaurant Brands International Inc.
YUM! Brands Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Conventional Foodservice System
Centralized Foodservice System
Ready Prepared Foodservice System
Assembly-Serve Foodservice System
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017, 2018
Base year - 2019
Forecast period - 2020 to 2026
Target Audience of the Global Food Service Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
ROW Food Service market estimates & forecasts by segment 2016-2026 (USD Billion)