Food Service Market Industry Report On Size, Share, Trends, Growth Opportunity and Forecast 2022-2027

According to IMARC Group’s latest report, the global food service market to reach US$ 3,629 Billion by 2027, exhibiting a growth rate (CAGR) of 3.85%.

SHERIDAN, WYOMING, UNITED STATES, October 26, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Food Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” the global food service market size reached US$ 2,750 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3,629 Billion by 2027, exhibiting a growth rate (CAGR) of 3.85% during 2022-2027.

This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Food service represents the sale of food and beverages that are prepared for takeaways, home deliveries, or immediate consumption. In terms of the systems, it can be categorized into conventional, centralized, ready-prepared, and assembly-serve categories. These food service variants prove extremely beneficial for individuals who have a fast lifestyle as they ensure a variety of menus, cost-effectiveness, supply of real-time palatable food under acceptable sanitation standards, etc. Consequently, they find widespread applications across numerous sectors, including education, government, healthcare, etc.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Food Service Market Trends:

The growing urbanization and the shifting preferences toward customization and innovation in food menu options, where consumers are provided with an extensive range of alternatives to customize their meals according to their taste, dietary habits, and budget, are primarily driving the food service market. Furthermore, the expanding working population who need hassle-free, hygienic, and nutritious food that is instantly available is also positively influencing the global market. In addition to this, the rising number of commercial restaurants and cafés that have emerged as convenient places for young professionals, teenagers, and families, to socialize and relax and the elevating usage of advanced technologies by the food service providers to enhance their production and streamline the overall efficacy are acting as significant growth-inducing factors. Besides this, the development of e-commerce or online platforms and on-the-go food services that facilitate improved distribution is further stimulating the market growth. Moreover, the introduction of low-fat beverages and vegetarian and gluten-free food products and the launch of innovative packaging are expected to propel the food service market over the forecasted period.

Key Market 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

Breakup Region:

Asia Pacific
North America
Europe
Middle East and Africa
Latin America

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Key highlights of the report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
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.

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.

Elena Anderson
IMARC Services Private Limited
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