The Global Food Service Market Is Expected To Grow With A Cagr Of 5.8% From 2023 To 2028

By Author: Lucintel LLC
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According to a market report by Lucintel, the future of the global food service market looks promising with opportunities in the commercial and non-commercial markets. The global food service market is expected to reach an estimated $3.4 billion by 2028 with a CAGR of 5.8% from 2023 to 2028. The major drivers for this market are shifting consumer tastes and evolving lifestyles, increase in the number of millennial professionals in the workforce, and emerging technological innovations transforming the global food sector.
In this market, fast food restaurants, full-service restaurants, limited service restaurants, and special food services restaurants are the major segments of global food service market by type. Lucintel forecasts that full-service restaurants are expected to be the largest segment over the forecast period because they helps in presenting an abundant and varied array of menu choices, accommodating a broad spectrum of palates and desires, as well as affording patrons the opportunity to relish a holistic culinary journey all under a single roof.
Within this market, commercial will remain the larger segment ...
... due to its diversified offerings, extensive clientele, expert administration, and forward-thinking methodology and it also provide the business enterprises with a broad spectrum of dining choices and gastronomic adventures.
APAC will remain the largest region over the forecast period due to rapid urbanization, rising disposable income, adoption of western culture, and increasing desire for dining out and embarking on fresh culinary experience in the region.
Aramark Corporation, Doctor’s Associates, Domino’s, McDonald’s, Restaurant Brands International, Seven & I Holdings, Sodexo, Starbucks Corporation, Yum! Brands, and Westlife Development are the major suppliers in the global food service market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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