According to the latest report by IMARC Group titled, “Food Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 3.4 Trillion in 2018. Looking forward, the market is expected to reach a value of US$ 4.2 Trillion by 2024, exhibiting a CAGR of around 3.6% during 2019-2024.

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Food service is the business of providing food and beverage for immediate consumption, takeaways and home deliveries. It can be classified into two sectors, namely commercial and non-commercial. Among these, commercial outlets include restaurants, catering and nightclubs, whereas non-commercial outlets operate within the premises of an organization such as hospitals and schools.

The increasing consumption of fast food represents one of the primary factors impelling the global food service market growth. Additionally, owing to the prevalence of chronic diseases and the increasingly health-conscious population, numerous cafes and restaurants have started serving healthy meals. Apart from this, there is a rise in the demand for customization and innovation in the food menu, which is also contributing to the market growth. Moreover, many companies are offering food services in supermarkets to expand their consumer base and replace home-cooked meals. Providers are also focusing on innovative strategies, such as the concept of bar and restaurant in the entertainment industry, to reach more consumers.


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Key Market Segmentation:

Breakup by Sector:

Commercial
Non-commercial
Breakup by System:

Conventional Foodservice System
Centralized Foodservice System
Ready Prepared Foodservice System
Assembly-Serve Foodservice System
Breakup by Restaurant:

Fast Food Restaurants
Full-Service Restaurants
Limited Service Restaurants
Special Food Services Restaurants
Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America
Competitive Landscape

The report has also examined the competitive landscape of global food service market.

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Key highlights of the report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Competitive Structure
Profiles of Key Players

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