Growing number of working women, reduced practice of preparing home-cooked meals, improving distribution channels, rising disposable incomes, etc. are also supporting the growth of the market.

The global foodservice market accounted for US$ 3.4 trillion in 2018 and is estimated to be 4.4 trillion by 2024 and is anticipated to register a CAGR of 3.6%. The report. "Global Foodservice Market, By Sector (Commercial and Non-commercial), By Systems (Conventional Foodservice System, Centralized Foodservice System, Ready Prepared Foodservice System, and Assembly-Serve Foodservice System), By Types of Restaurants (Fast Food Restaurants, Full-Service Restaurants, Limited Service Restaurants, and Special Food Services Restaurants), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030”.

Key highlights:

In August 2019, Aramark, a worldwide leader in food, facilities management and uniforms, declared the acquisition of privately-held Good Uncle, an innovative, app-based on-demand food delivery service that brings freshly prepared, restaurant quality meals to conveniently located pick-up points around college campuses. Further, the Aramark portfolio commitment to advancing innovation through culinary-and technology-driven solutions that better serve customers and clients.
Analyst View:

Growing demand for mobile food service.

Growing popularity of food trucks, trailers, carts, and food stands is propelling the mobile foodservice market. These tend of mobile foodservice outlets is superior as compared to conventional restaurants, mainly due to low initial capital investments, low yearly overhead costs, and the growing popularity of street food among the urban young population. Additionally, establishment of mobile foodservice provides better opportunities for expansion of the customer base as well as customization of the menus to meet the growing demands of consumers. Rising demand for mobile food service will dominate the expansion of the global foodservice market at a CAGR of almost 5% in the coming years.

The emergence of ghost kitchens

In recent years, there has been a rapid growth in the popularity of delivery-optimized ghost kitchens. These kitchens contain all the required kitchen facilities as well as equipment for the preparation of meals online delivery. Along with the growing number of online food orders, given the emergence of online food delivery platforms, ghost kitchens have arisen as a key business model in the foodservice industry. Thus, several major foodservice establishments worldwide are focusing on developing ghost kitchens to provide superior customer service while lowering the labor costs and rent involved in the conventional setups. Furthermore, requirement for ghost kitchens is one of the key trends expected to drive the global foodservice market growth over the forecast period.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Foodservice Market”, By Sector (Commercial and Non-commercial), By Systems (Conventional Foodservice System, Centralized Foodservice System, Ready Prepared Foodservice System, and Assembly-Serve Foodservice System), By Types of Restaurants (Fast Food Restaurants, Full-Service Restaurants, Limited Service Restaurants, and Special Food Services Restaurants), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Key Market Insights from the report:

The global foodservice market accounted for US$ 3.4 trillion in 2018 and is estimated to be 4.4 trillion by 2024 and is anticipated to register a CAGR of 3.6%. The market report has been segmented on the basis of sector, systems, types of restaurants, and region.

By sector, conventional foodservice systems are widely used foodservice system. The foodservice market application is increasing in schools, colleges, restaurants, and universities. Individuals studying in schools, colleges, or offices pretend to have their daily meals in places such as a cafeteria, which follow the conventional foodservice system.
By systems, the target market is classified into conventional foodservice system, centralized foodservice system, ready prepared foodservice system, and assembly-serve foodservice system.
By types of restaurants, the target market is classified into fast food restaurants, full-service restaurants, limited service restaurants, and special food services restaurants.
By region, North America forecast highest number of food chains and restaurants owing to increasing demand for fast food. Additionally, the North America market offers advantages from high number of high-value transactions and mergers in past few years.
To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Global-Foodservice-Market-4304

Competitive Landscape:

The prominent player operating in the global foodservice market includes Aramark, Compass Group Plc, Domino’s Pizza Inc., McDonald's Corp., Inspire Brands Inc., Restaurant Brands International Inc., Performance Food Group Co., Sodexo Group, Starbucks Corp., and YUM! Brands Inc.

The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.

About Prophecy Market Insights

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces Analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered

Introduction
Study Deliverables
Study Assumptions
Scope of the Study
Research Methodology
Executive Summary
Opportunity Map Analysis
Market at Glance
Market Share (%) and BPS Analysis, by Region
Competitive Landscape
Heat Map Analysis
Market Presence and Specificity Analysis
Investment Analysis
Competitive Analysis
To know more

Contact Us:

Sales

Prophecy Market Insights

Email- [email protected]