Latest News- Food Service Market: Conventional is expected to lead the Service segment during 2025-2029

The Food Service Market is being driven by Increasing demand for food away from home

The Food Service Market is expected to grow at a CAGR of 47.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 53709.5 billion. In the dynamic food service market, consumer behavior and preferences have experienced notable shifts. Over the past decade, an increasing number of Americans have opted for snacks and light meals as alternatives to traditional meals. This trend is driven by hectic lifestyles that often result in missed meals or on-the-go eating. Concurrently, the popularity of bakery products for breakfast, such as doughnuts, bread, rolls, pies, and similar items, has surged in the US. Vendors in this sector are responding to this trend by offering a wide array of healthy snack options. For instance, doughnut sandwiches made with nutritious ingredients, including chicken, lettuce, and green vegetables, are gaining traction. This shift in consumer behavior underscores the importance of adaptability and innovation in the food service industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • Conventional
  • Centralized
  • Ready-prepared
  • Assembly-serve
• Sector
  • Commercial
  • Non-commercial
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing demand for food away from home
• Growth of fast-food market
• Rising demand for mobile foodservice

However, the market also witnesses some limitations, which are as follows:

• Labor shortages in foodservice sector
• Increasing health concerns
• Stringent government regulations

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Market Scope in Food Service Market Research Report

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Research Analysis Overview

In the Food Service Market, various establishments such as child care centers, restaurants, hotels, cafes, and institutes require third-party assistance for storage, preparation, serving, and cleanup of meals. Facilities like distribution centers cater to the needs of these operators, including restaurant chains and quick-service restaurants. Online food delivery platforms like Deliveroo and strategic partnerships with brands like McDelivery offer distribution and delivery solutions. Full-service and quick-service restaurants offer different service types to cater to diverse customer preferences.

Market Research Overview

The food service sector within the parent global hotels, resorts, and cruise lines industry encompasses third-party providers specializing in storage, preparation, serving, and cleanup services for child care centers, restaurants, hotels, cafés, and related facilities. This segment's growth is driven by the expanding travel and tourism industry, with increasing numbers of tourists from emerging and developed economies. Technavio's market analysis calculates the industry's size based on the consolidated revenue generated by companies in casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants. Key growth factors include the growing travel and tourism industry, distribution network expansion, and the rising demand for convenient and customized food services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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