The Foodservice Market to grow at a CAGR of 28.35% from 2022 to 2027| Abela and Co. LLC, Aramark, Chick fil A Inc., and more to emerge as key players -Technavio

NEW YORK, July 17, 2023 /PRNewswire/ — The food service market size is expected to increase by USD 13,612.51 million from 2022 to 2027, and the market’s growth momentum will accelerate at a CAGR of 28.35%, according to Technavio.The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including – Abela and Co. LLC, Aramark, Chick fil A Inc., Compass Group Plc, Domino’s Pizza Inc., FOOD and LIFE Co. Ltd., Inspire Brands Inc., Jack in the Box Inc., Jollibee Foods Corp., Little Caesar Enterprises Inc., McDonald Corp., MOS Food Services Inc., Papa John’s International Inc., Performance Food Group Co., Restaurant Brands International Inc., Sodexo SA, Starbucks Corp., Sysco Corp., The Wendys Co., and YUM Brands Inc. – Download Sample Report in minutes.

Foodservice Market Insights –

  • Vendors: 15+, Including Abela and Co. LLC, Aramark, Chick fil A Inc., Compass Group Plc, Domino’s Pizza Inc., FOOD and LIFE Co. Ltd., Inspire Brands Inc., Jack in the Box Inc., Jollibee Foods Corp., Little Caesar Enterprises Inc., McDonald Corp., MOS Food Services Inc., Papa John’s International Inc., Performance Food Group Co., Restaurant Brands International Inc., Sodexo SA, Starbucks Corp., Sysco Corp., The Wendys Co., and YUM Brands Inc., among others
  • Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
  • Segments:  Service (conventional, centralized, ready-prepared, and assembly-serve), sector (commercial and non-commercial), and geography (APAC, North America, Europe, South America, and Middle East and Africa).

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Key Factors- The increasing demand for food away from home is a key factor driving market growth. This growth in the market is due to various factors, which include people’s higher incomes, an increasing proportion of women working from home, and the presence of more affordable and convenient fast food outlets. Major catering chains are increasing their advertising and promotional activities. Furthermore, with the increase in household income, consumers are spending more on products and services, which include leisure and dining amenities. Exposure to various cultures and lifestyles globally has given rise to a variety of culinary tastes by consumers across the world. In addition, consumers prefer to have their meals outside their homes on weekdays. Hence, the rising demand for food is expected to drive market growth during the forecast period.

Major Trends- Increased snacking and indulgence consumption is a major trend in the market. 

Significant Challenges- The labor shortages in the food service sector are major challenges restricting market growth.

Drivers, Trends & Challenges have an impact on market dynamics and can impact businesses. Find some insights from a sample report!

The food service market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as prospects.

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What are the key data covered in this Foodservice Market report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the food service market between 2023 and 2027
  • Precise estimation of the size of the food service market and its contribution to the market with a focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the food service market across APAC, North America, Europe, South America, and the Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of food service market vendors

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Foodservice Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 28.35%

Market growth 2023-2027

USD 13,612.51 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

27.77

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 43%

Key countries

US, China, Japan, India, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Abela and Co. LLC, Aramark, Chick fil A Inc., Compass Group Plc, Domino’s Pizza Inc., FOOD and LIFE Co. Ltd., Inspire Brands Inc., Jack in the Box Inc., Jollibee Foods Corp., Little Caesar Enterprises Inc., McDonald Corp., MOS Food Services Inc., Papa Johns International Inc., Performance Food Group Co., Restaurant Brands International Inc., Sodexo SA, Starbucks Corp., Sysco Corp., The Wendys Co., and YUM Brands Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

  • 1.1 Market Overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Service
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Sector
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis 
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
  • 3.4 Market outlook: Forecast for 2022-2027 
    • Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
    • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
    • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

  • 4.1 Global foodservice market 2017 – 2021 
    • Exhibit 18: Historic Market Size – Data Table on global foodservice market 2017 – 2021 ($ million)
  • 4.2 Service Segment Analysis 2017 – 2021 
    • Exhibit 19: Historic Market Size – Service Segment 2017 – 2021 ($ million)
  • 4.3 Sector Segment Analysis 2017 – 2021 
    • Exhibit 20: Historic Market Size – Sector Segment 2017 – 2021 ($ million)
  • 4.4 Geography Segment Analysis 2017 – 2021 
    • Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)
  • 4.5 Country Segment Analysis 2017 – 2021 
    • Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

  • 5.1 Five forces summary
    • Exhibit 23: Five forces analysis – Comparison between 2022 and 2027
  • 5.2 Bargaining power of buyers 
    • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
  • 5.3 Bargaining power of suppliers 
    • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
  • 5.4 Threat of new entrants 
    • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
  • 5.5 Threat of substitutes 
    • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
  • 5.6 Threat of rivalry
    • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
  • 5.7 Market condition
    • Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Service

  • 6.1 Market segments
    • Exhibit 30: Chart on Service – Market share 2022-2027 (%)
    • Exhibit 31: Data Table on Service – Market share 2022-2027 (%)
  • 6.2 Comparison by Service 
    • Exhibit 32: Chart on Comparison by Service
    • Exhibit 33: Data Table on Comparison by Service
  • 6.3 Conventional – Market size and forecast 2022-2027 
    • Exhibit 34: Chart on Conventional – Market size and forecast 2022-2027 ($ million)
    • Exhibit 35: Data Table on Conventional – Market size and forecast 2022-2027 ($ million)
    • Exhibit 36: Chart on Conventional – Year-over-year growth 2022-2027 (%)
    • Exhibit 37: Data Table on Conventional – Year-over-year growth 2022-2027 (%)
  • 6.4 Centralized – Market size and forecast 2022-2027 
    • Exhibit 38: Chart on Centralized – Market size and forecast 2022-2027 ($ million)
    • Exhibit 39: Data Table on Centralized – Market size and forecast 2022-2027 ($ million)
    • Exhibit 40: Chart on Centralized – Year-over-year growth 2022-2027 (%)
    • Exhibit 41: Data Table on Centralized – Year-over-year growth 2022-2027 (%)
  • 6.5 Ready-prepared – Market size and forecast 2022-2027 
    • Exhibit 42: Chart on Ready-prepared – Market size and forecast 2022-2027 ($ million)
    • Exhibit 43: Data Table on Ready-prepared – Market size and forecast 2022-2027 ($ million)
    • Exhibit 44: Chart on Ready-prepared – Year-over-year growth 2022-2027 (%)
    • Exhibit 45: Data Table on Ready-prepared – Year-over-year growth 2022-2027 (%)
  • 6.6 Assembly-serve – Market size and forecast 2022-2027 
    • Exhibit 46: Chart on Assembly-serve – Market size and forecast 2022-2027 ($ million)
    • Exhibit 47: Data Table on Assembly-serve – Market size and forecast 2022-2027 ($ million)
    • Exhibit 48: Chart on Assembly-serve – Year-over-year growth 2022-2027 (%)
    • Exhibit 49: Data Table on Assembly-serve – Year-over-year growth 2022-2027 (%)
  • 6.7 Market opportunity by Service 
    • Exhibit 50: Market opportunity by Service ($ million)
    • Exhibit 51: Data Table on Market opportunity by Service ($ million)

7 Market Segmentation by Sector

  • 7.1 Market segments
    • Exhibit 52: Chart on Sector – Market share 2022-2027 (%)
    • Exhibit 53: Data Table on Sector – Market share 2022-2027 (%)
  • 7.2 Comparison by Sector
    • Exhibit 54: Chart on Comparison by Sector
    • Exhibit 55: Data Table on Comparison by Sector
  • 7.3 Commercial – Market size and forecast 2022-2027 
    • Exhibit 56: Chart on Commercial – Market size and forecast 2022-2027 ($ million)
    • Exhibit 57: Data Table on Commercial – Market size and forecast 2022-2027 ($ million)
    • Exhibit 58: Chart on Commercial – Year-over-year growth 2022-2027 (%)
    • Exhibit 59: Data Table on Commercial – Year-over-year growth 2022-2027 (%)
  • 7.4 Non-commercial – Market size and forecast 2022-2027 
    • Exhibit 60: Chart on Non-commercial – Market size and forecast 2022-2027 ($ million)
    • Exhibit 61: Data Table on Non-commercial – Market size and forecast 2022-2027 ($ million)
    • Exhibit 62: Chart on Non-commercial – Year-over-year growth 2022-2027 (%)
    • Exhibit 63: Data Table on Non-commercial – Year-over-year growth 2022-2027 (%)
  • 7.5 Market opportunity by Sector 
    • Exhibit 64: Market opportunity by Sector ($ million)
    • Exhibit 65: Data Table on Market opportunity by Sector ($ million)

8 Customer Landscape

  • 8.1 Customer landscape overview 
    • Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

  • 9.1 Geographic segmentation 
    • Exhibit 67: Chart on Market share by geography 2022-2027 (%)
    • Exhibit 68: Data Table on Market share by geography 2022-2027 (%)
  • 9.2 Geographic comparison 
    • Exhibit 69: Chart on Geographic comparison
    • Exhibit 70: Data Table on Geographic comparison
  • 9.3 APAC – Market size and forecast 2022-2027 
    • Exhibit 71: Chart on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 72: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
    • Exhibit 73: Chart on APAC – Year-over-year growth 2022-2027 (%)
    • Exhibit 74: Data Table on APAC – Year-over-year growth 2022-2027 (%)
  • 9.4 North America – Market size and forecast 2022-2027 
    • Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
    • Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)
  • 9.5 Europe – Market size and forecast 2022-2027 
    • Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
    • Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
    • Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)
  • 9.6 South America – Market size and forecast 2022-2027 
    • Exhibit 83: Chart on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 ($ million)
    • Exhibit 85: Chart on South America – Year-over-year growth 2022-2027 (%)
    • Exhibit 86: Data Table on South America – Year-over-year growth 2022-2027 (%)
  • 9.7 Middle East and Africa – Market size and forecast 2022-2027 
    • Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
    • Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
    • Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)
  • 9.8 China – Market size and forecast 2022-2027 
    • Exhibit 91: Chart on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 92: Data Table on China – Market size and forecast 2022-2027 ($ million)
    • Exhibit 93: Chart on China – Year-over-year growth 2022-2027 (%)
    • Exhibit 94: Data Table on China – Year-over-year growth 2022-2027 (%)
  • 9.9 US – Market size and forecast 2022-2027 
    • Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
    • Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
    • Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)
  • 9.10 Germany – Market size and forecast 2022-2027 
    • Exhibit 99: Chart on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 100: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
    • Exhibit 101: Chart on Germany – Year-over-year growth 2022-2027 (%)
    • Exhibit 102: Data Table on Germany – Year-over-year growth 2022-2027 (%)
  • 9.11 Japan – Market size and forecast 2022-2027 
    • Exhibit 103: Chart on Japan – Market size and forecast 2022-2027 ($ million)
    • Exhibit 104: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
    • Exhibit 105: Chart on Japan – Year-over-year growth 2022-2027 (%)
    • Exhibit 106: Data Table on Japan – Year-over-year growth 2022-2027 (%)
  • 9.12 India – Market size and forecast 2022-2027 
    • Exhibit 107: Chart on India – Market size and forecast 2022-2027 ($ million)
    • Exhibit 108: Data Table on India – Market size and forecast 2022-2027 ($ million)
    • Exhibit 109: Chart on India – Year-over-year growth 2022-2027 (%)
    • Exhibit 110: Data Table on India – Year-over-year growth 2022-2027 (%)
  • 9.13 Market opportunity by geography 
    • Exhibit 111: Market opportunity by geography ($ million)
    • Exhibit 112: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

  • 10.1 Market drivers
  • 10.2 Market challenges
  • 10.3 Impact of drivers and challenges 
    • Exhibit 113: Impact of drivers and challenges in 2022 and 2027
  • 10.4 Market trends

11 Vendor Landscape

  • 11.1 Overview
  • 11.2 Vendor landscape
    • Exhibit 114: Overview on Criticality of inputs and Factors of differentiation
  • 11.3 Landscape disruption
    • Exhibit 115: Overview on factors of disruption
  • 11.4 Industry risks
    • Exhibit 116: Impact of key risks on business

12 Vendor Analysis

  • 12.1 Vendors covered
    • Exhibit 117: Vendors covered
  • 12.2 Market positioning of vendors 
    • Exhibit 118: Matrix on vendor position and classification
  • 12.3 Aramark
    • Exhibit 119: Aramark – Overview
    • Exhibit 120: Aramark – Business segments
    • Exhibit 121: Aramark – Key offerings
    • Exhibit 122: Aramark – Segment focus
  • 12.4 Chick fil A Inc.
    • Exhibit 123: Chick fil A Inc. – Overview
    • Exhibit 124: Chick fil A Inc. – Product / Service
    • Exhibit 125: Chick fil A Inc. – Key offerings
  • 12.5 Compass Group Plc
    • Exhibit 126: Compass Group Plc – Overview
    • Exhibit 127: Compass Group Plc – Business segments
    • Exhibit 128: Compass Group Plc – Key offerings
    • Exhibit 129: Compass Group Plc – Segment focus
  • 12.6 Dominos Pizza Inc.
    • Exhibit 130: Dominos Pizza Inc. – Overview
    • Exhibit 131: Dominos Pizza Inc. – Business segments
    • Exhibit 132: Dominos Pizza Inc. – Key news
    • Exhibit 133: Dominos Pizza Inc. – Key offerings
    • Exhibit 134: Dominos Pizza Inc. – Segment focus
  • 12.7 FOOD and LIFE Co. Ltd.
    • Exhibit 135: FOOD and LIFE Co. Ltd. – Overview
    • Exhibit 136: FOOD and LIFE Co. Ltd. – Product / Service
    • Exhibit 137: FOOD and LIFE Co. Ltd. – Key offerings
  • 12.8 Inspire Brands Inc.
    • Exhibit 138: Inspire Brands Inc. – Overview
    • Exhibit 139: Inspire Brands Inc. – Product / Service
    • Exhibit 140: Inspire Brands Inc. – Key offerings
  • 12.9 Jack in the Box Inc.
    • Exhibit 141: Jack in the Box Inc. – Overview
    • Exhibit 142: Jack in the Box Inc. – Product / Service
    • Exhibit 143: Jack in the Box Inc. – Key offerings
  • 12.10 McDonald Corp.
    • Exhibit 144: McDonald Corp. – Overview
    • Exhibit 145: McDonald Corp. – Business segments
    • Exhibit 146: McDonald Corp. – Key news
    • Exhibit 147: McDonald Corp. – Key offerings
    • Exhibit 148: McDonald Corp. – Segment focus
  • 12.11 Papa Johns International Inc. 
    • Exhibit 149: Papa Johns International Inc. – Overview
    • Exhibit 150: Papa Johns International Inc. – Business segments
    • Exhibit 151: Papa Johns International Inc. – Key offerings
    • Exhibit 152: Papa Johns International Inc. – Segment focus
  • 12.12 Performance Food Group Co. 
    • Exhibit 153: Performance Food Group Co. – Overview
    • Exhibit 154: Performance Food Group Co. – Business segments
    • Exhibit 155: Performance Food Group Co. – Key offerings
    • Exhibit 156: Performance Food Group Co. – Segment focus
  • 12.13 Restaurant Brands International Inc. 
    • Exhibit 157: Restaurant Brands International Inc. – Overview
    • Exhibit 158: Restaurant Brands International Inc. – Business segments
    • Exhibit 159: Restaurant Brands International Inc. – Key news
    • Exhibit 160: Restaurant Brands International Inc. – Key offerings
    • Exhibit 161: Restaurant Brands International Inc. – Segment focus
  • 12.14 Sodexo SA
    • Exhibit 162: Sodexo SA – Overview
    • Exhibit 163: Sodexo SA – Business segments
    • Exhibit 164: Sodexo SA – Key news
    • Exhibit 165: Sodexo SA – Key offerings
    • Exhibit 166: Sodexo SA – Segment focus
  • 12.15 Starbucks Corp.
    • Exhibit 167: Starbucks Corp. – Overview
    • Exhibit 168: Starbucks Corp. – Business segments
    • Exhibit 169: Starbucks Corp. – Key news
    • Exhibit 170: Starbucks Corp. – Key offerings
    • Exhibit 171: Starbucks Corp. – Segment focus
  • 12.16 Sysco Corp.
    • Exhibit 172: Sysco Corp. – Overview
    • Exhibit 173: Sysco Corp. – Business segments
    • Exhibit 174: Sysco Corp. – Key offerings
    • Exhibit 175: Sysco Corp. – Segment focus
  • 12.17 YUM Brands Inc.
    • Exhibit 176: YUM Brands Inc. – Overview
    • Exhibit 177: YUM Brands Inc. – Business segments
    • Exhibit 178: YUM Brands Inc. – Key news
    • Exhibit 179: YUM Brands Inc. – Key offerings
    • Exhibit 180: YUM Brands Inc. – Segment focus

13 Appendix

  • 13.1 Scope of the report
  • 13.2 Inclusions and exclusions checklist 
    • Exhibit 181: Inclusions checklist
    • Exhibit 182: Exclusions checklist
  • 13.3 Currency conversion rates for US$ 
    • Exhibit 183: Currency conversion rates for US$
  • 13.4 Research methodology
    • Exhibit 184: Research methodology
    • Exhibit 185: Validation techniques employed for market sizing
    • Exhibit 186: Information sources
  • 13.5 List of abbreviations
    • Exhibit 187: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Originally published at https://www.prnewswire.com/news-releases/the-foodservice-market-to-grow-at-a-cagr-of-28-35-from-2022-to-2027-abela-and-co-llc-aramark-chick-fil-a-inc-and-more-to-emerge-as-key-players–technavio-301878116.html
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