The Foodservice Market in US is being driven by Increased snacking and indulgence consumption
The Foodservice Market in US is expected to grow at a CAGR of 30.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 3118.7 billion. The foodservice market in the US is witnessing a significant trend towards the increasing preference for ethnic cuisines, driven by the influx of immigrants and the evolving American palate. With approximately 22 million Asians residing in the US, originating from East and Southeast Asian countries and populations, as well as the Indian subcontinent, the market is experiencing a surge in demand for spicy dishes. This demographic expansion has introduced a diverse range of flavorful and piquant culinary traditions, which have received a highly favorable market response. Immigration continues to play a pivotal role in shaping the US foodservice industry's culinary landscape.
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The market is segmented based on segments_for_ai.nslist
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
192 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 30.6% |
Market growth 2025-2029 |
USD 3118.7 billion |
Market structure |
Fragmented |
YoY growth 2024-2025(%) |
30.0 |
Key countries |
US |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Foodservice Market in the US is witnessing a shift towards healthier options with an increasing demand for vegan, low-sugar, and gluten-free dishes. Full-service restaurants are responding by offering nutritional diets, while consumers can now book online and make payments for foodservice, catering, and packaged goods. Real-time food service is also gaining popularity with food bars, canteens, universities, and hotels. Quick-service and limited-service restaurants, vending machines, and virtual kitchens are also adapting to these trends in the ever-evolving Food Service Industry. Food items such as pancakes and waffles are being reinvented to cater to these dietary preferences.
The Foodservice market in the US is a significant segment of the larger Parent Global Hotels, Resorts and Cruise Lines industry. This market encompasses quick service restaurants, full service restaurants, cafes and bars, and specialty tea and coffee establishments. Key trends include the increasing demand for vegan, low-sugar, and gluten-free options, aligning with nutritional dietary preferences. Fast food brands are responding by expanding their menus to cater to these demands, while full service restaurants are following suit to remain competitive. The growing travel and tourism industry fuels the demand for foodservice establishments in the US, with millions of domestic and international visitors annually. The market size is calculated based on the combined revenue generated by companies in casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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