Foodservice Market – Global Industry Size, Share, Trend, Opportunity and Forecast 2026 | TechSci Research

According to #TechSci Research report, Global Foodservice Market was valued at USD3093.96 billion in 2020 and it is estimated to advance with a CAGR of 4.72% to reach USD3978.83 billion by 2026.

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United States Foodservice Market to Reach USD 658.08 Billion by 2026 | TechSci Research

Growing trend of digitalization of food service and increasing purchasing power to drive the United States foodservice market during the forecast period.

According to TechSci Research report, “United States Foodservice Market By Type QSR (Quick Service Restaurants), Dining Service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others (Cafeteria, Ghost Kitchens, Catering and Vending Companies)), By Ownership (Chained Outlets vs. Independent Outlets), By Region, Competition, Forecast & Opportunities, 2026”, the United States foodservice market had grown to approximately USD520 billion in the year 2020 and it is further anticipated to grow with the CAGR of 4.10% by 2026F.

United States foodservice industry is said to be the largest foodservice industry at the global level, which includes all those businesses that deal in the meals which are prepared outside the home. United States foodservice industry contributes to approximately 10% of total employment within the United States.

In the year 2019, the people working in this foodservice sector were counted to be around 2 million within California state alone, with the largest share of waiters and waitresses in terms of employment. It has also been analyzed that the market of foodservice has retained the market growth despite many challenges, due to the driving factors like takeout, delivery, and food trucks.

Browse 17 market data Figures spread through 70 pages and an in-depth TOC on "United States Foodservice Market"

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The COVID-19 pandemic has impacted the foodservice business. Fast food businesses were forced to close momentarily due to the lockout of several eateries. People working in the foodservice industry experienced challenges due to mismanagement of operations, supply chains, business model recreation, digitization, and other unforeseen consequences. It was due to pandemic as well as the pressure of rising labor costs and high rate of turnover, most of the service providers are now opting for new technology (such as mobile ordering, delivery apps, and self-ordering kiosks) to meet the customer demand.

Companies like Dunkin' Brands Group, Inc., through its Dunkin' Donuts brand last year in August, announced a USD100 million investment to strengthen its capacity to provide service to consumers who order from mobile devices. The firm aimed to establish 50 pilot locations as a part of the initiative, that would have dedicated pickup areas, digital kiosks, and enlarged drive-thru windows that prioritize orders placed through the company's mobile app.

The United States Foodservice market consists of the following segments, type, ownership, region, and company. In terms of Type, the United States foodservice market is segmented into QSR (Quick Service Restaurants), dining service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafe, and Lounges), and others (Cafeteria, Ghost Kitchens, Catering and Vending Companies).

Among which, it is the QSR segment that holds the prominent share of around 35% in the United States foodservice market followed by dining service (hotels, restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and others which includes cafeteria, ghost kitchens, catering and vending companies. Quick service restaurants segment is also the only segment that records the largest number of outlets within the United States market owing to the consumption pattern in the United States, which is highly dependent upon the instant service restaurants.

In terms of region, the United States foodservice market is segmented into south, west, mid-west, and north-east. Among these, the west region of the United States is the fastest growing within the United States foodservice market, with a CAGR of around 4.40% and is expected to maintain its dominance throughout the forecast period.

Major Companies operating in the United States foodservice market are Performance Food Group Company, Compass Group USA, Inc., McDonald’s USA, LLC, Aramark Corporation, Sodexo, Inc., YUM! BRANDS, INC. (KFC, Pizza Hut, Taco Bell), Starbucks Corporation, Restaurant Brands International Inc., Domino's Pizza, Inc., and HMSHOST CORP. (USA). To remain competitive in the United States foodservice market companies are continuously launching new services and changing marketing strategies to capture the majority of the consumer base across the country.

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“The rising demand for online food ordering channels is contributing to the growth of the foodservice market. The foodservice market is highly fragmented due to the presence of various giant players and local players such as McDonald's Corporation, YUM! BRANDS, INC. (KFC, Pizza Hut, Taco Bell), Starbucks Corporation, Domino's Pizza, Inc., and other companies. The market experts must be updated with the changing consumer taste & preferences and satisfy their needs and due to factors the foodservice providers may have to face difficulty in staying on top in the market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“United States Foodservice Market By Type QSR (Quick Service Restaurants), Dining Service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others (Cafeteria, Ghost Kitchens, Catering and Vending Companies)), By Ownership (Chained Outlets vs. Independent Outlets), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of foodservice market in the United States and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the United States foodservice market.

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About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies, and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global, and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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Global Foodservice Market to Reach Over USD3978.83 Billion By 2026

 Change in consumer lifestyle coupled with rise in online food delivery services to drive the global foodservice market during the forecast period.

 

According to TechSci Research report, “Global Foodservice Market By Type (Dining Services, QSR Quick Service Restaurants (QSR), Pubs, Bars, Cafe and Lounges (PBCL), and Others), By Ownership (Independent Outlets vs. Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026”, the global foodservice market is projected to grow from USD3093.96 billion in 2020 to USD3978.83 billion in 2026, growing at a CAGR of 4.72%. The growth is expected as the companies are rearranging their operations to recover the loss that occurred because of COVID-19, which led to the tentative shutdown of commercial activities to maintain the social distancing which resulted in operational challenges and a huge loss to the foodservice industry. However, it is expected that the foodservice market will recover from the loss across the forecast period as it is an unpredicted event, and it could not be defined through the ongoing weakness in the foodservice market or the global economy.

Browse 113 Figures spread through 149 Pages and an in-depth TOC on "Global Foodservice Market"

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To remain competitive in the market, food service companies across the globe are entering into strategic alliances and improving their product line and hence, developing an edge over their competitors. In the year 2018, Starbucks Corporation formed a global coffee alliance with Nestlé S.A. to accelerate and grow the global reach of Starbucks brand in consumer packaged goods and foodservices. With a shared commitment to ethical and sustainable sourcing of coffee, this strategic alliance between Starbucks and Nestlé S.A. will transform, expand and elevate both, at the home and away-from-home coffee and related categories around the world.

Moreover, another trend observed across the world is the decline in the volume of cash transactions. Online transactions and card payments are rising due to convenience for both consumers and foodservice companies. Due to digitization, the person who takes orders in the restaurant can directly tap or swipe to add items and then subsequently send orders to the kitchen in less time without leaving the floor. All the food service companies across the globe are accepting online transactions to provide a better customer experience by offering discounts to retain customers. Thus, leading to the increasing demand for food services across the globe.

Furthermore, the launch of low-fat drinks, gluten-free products, on-the-go foodservice and online platforms, as well as attractive packaging, are all contributing to the market's development. Even the factors such as the increasing number of working women, decline in the practice of preparing homemade food, increasing disposable income, improving distribution channels, etc. are also catalyzing the growth of the foodservice market.

Many restaurants have recently begun introducing modern technology like tablets on their tabletops to automate the process of ordering food. For example, Chili’s, an American casual dining restaurant chain overhauled its in-store ordering system by adding more than 45000 tablets across its 823 stores. Technology-driven solutions and facilities are becoming more popular in bars and nightclubs. Self-ordering touchscreen kiosks, smartphone applications for personalized orders and fast payment, and digital entertainment such as gaming are all being introduced by companies in the sector.

Asia-Pacific was the highest revenue generating region in the global foodservice market in 2020. Furthermore, the region is estimated to remain the most dominating region in the forecast period as well, owing to the factors such as increased internet connectivity, modern and changing lifestyles and preferences, increasing disposable income of middle income group, etc. The growth of the region is attributed to the high population density, growing industrialization and increasing food joints and restaurants in the region. Furthermore, the countries in the region like India, Japan, South Korea, Australia, etc. exhibit huge growth potential owing to the presence of large urban agglomerations, which results in the increasing demand for foodservices. Moreover, improving lifestyles and rising purchasing power and growing per capita income in the region, due to growing working population are further leading to the higher demand for foodservices in the region.

 

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The global foodservice market is competitive with the presence and minimal market share of domestic companies in countries such as China and India. Above all other aspects, the launching of a new product has become the most critical strategy, due to the rapidly changing nature, taste, and preferences of the consumers. Also, businesses have embraced growth through mergers and acquisitions by multinational companies, which has proven to be successful in making their presence stronger. Some of the leading players in the market are Compass Group PLC, McDonald's Corporation, Performance Food Group Company, Sodexo Group, Aramark Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., Inspire Brands, Inc., Domino's Pizza, Inc., and Starbucks Corporation. Major foodservice companies are expanding their businesses to meet the rising demand across North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

“The global foodservice market is anticipated to grow over 4.72% CAGR during the next five years due to growing consumer base and increasing disposable income. Moreover, technological up-gradation and growing demand for ready-to-eat foods are further anticipated to positively influence the growth of the market through 2026,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Global Foodservice Market By Type (Dining Services, QSR Quick Service Restaurants (QSR), Pubs, Bars, Cafe and Lounges (PBCL), and Others), By Ownership (Independent Outlets vs. Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the global foodservice market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global foodservice market.

 

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies, and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

 

Tel: +1-646-360-1656

 

Email: sales@techsciresearch.com

 

Web:   https://www.techsciresearch.com/

Global Foodservice Market to Reach Over USD3978.83 Billion By 2026

 Growing trend of dining out in restaurants and cafes, and rising disposable purchasing power are the factors driving the global foodservice market during the forecast period.

 

According to TechSci Research report, “Global Foodservice Market By Type (Dining Service (Hotels, Restaurants), QSR (Quick Service Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others), By Ownership (Independent Outlets vs. Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026”, the global foodservice market is anticipated to grow from USD3093.96 billion in 2020 to USD3978.83 billion in 2026 at a CAGR of 4.72%. The growth is expected as the companies are rearranging their operations to recover the loss that occurred because of COVID-19, which led to the tentative shutdown of commercial activities to maintain the social distancing which resulted in operational challenges and a huge loss to the foodservice industry. However, it is expected that the foodservice market will recover from the loss across the forecast period as it is an unpredicted event, and it could not be defined through the ongoing weakness in the foodservice market or the global economy.

Browse 88 Figures spread through 110 Pages and an in-depth TOC o "Global Foodservice Market"

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As the trend for socializing in cafes is increasing among the urban millennials and it is majorly the youngest population which is driving the growth of the chained foodservice market at a much faster pace. Also, the rapid increase in infrastructural development like airports, metro services, hospital facilities, malls, and expressways in emerging countries has given hopes to various chained outlets to increase their market share. Consequently, the growing trend for fast-food and ready to eat items has caused an immense boost to the chained foodservice market.

Moreover, the launch of low-fat drinks, gluten-free products, on-the-go foodservice and online platforms, as well as attractive packaging, are all contributing to the market's development. Even the factors such as the increasing number of working women, decline in the practice of preparing homemade food, increasing disposable income, improving distribution channels, etc. are also catalyzing the growth of the foodservice market.

The foodservice market deals with both internal as well as external factors to meet the expectations of the target audience, such factors are heavy chef rotations, green packaging and waste reduction, holistic dining experience, menu optimization, and cashless transactions and digitalization. Nowadays people are more demanding, not in just terms of taste of the food or cuisine but are also concerned about the décor, environment, efficiency of the service provider, cost optimization, consistency with the food taste, and the digital mode of transactions.

Many restaurants have recently begun introducing modern technology like tablets on their tabletops to automate the process of ordering food. For example, Chili’s, an American casual dining restaurant chain overhauled its in-store ordering system by adding more than 45000 tablets across its 823 stores. Technology-driven solutions and facilities are becoming more popular in bars and nightclubs. Self-ordering touchscreen kiosks, smartphone applications for personalized orders and fast payment, and digital entertainment such as gaming are all being introduced by companies in the sector.

It is the dining service restaurants, which is the most widespread foodservice model (contributing to the one-third of the food-service market). But it is expected that due to pertaining demand for the fast-food market, it will be the quick service restaurant (QSR) segment that is expected to grow at faster pace than the market of dining service restaurants in the upcoming future market.

The largest market share of the foodservice industry will be dominated by the Asia-Pacific region in the forecast period. This can be attributed to the fact that this region holds the largest portion of the young and millennial population combined with the increase in the number of restaurants, a combination of different culture and cuisine. It is witnessed that there is an increasing preference and demand by the people to eat outside due to which value of services provided by the restaurants gets improvised.

 

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Compass Group PLC, McDonald's Corporation, Performance Food Group Company, Sodexo Group, Aramark Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., Autogrill S.p.A., Domino's Pizza, Inc., and Starbucks Corporation are some of the leading players operating in the global foodservice market. Major foodservice companies are expanding their manufacturing bases to meet the rising demand across developing countries in North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

The global foodservice market is competitive with the presence and minimal market share of domestic companies in countries such as China and India. Above all other aspects, the launching of a new product has become the most critical strategy, due to the rapidly changing nature, taste, and preferences of the consumers. Also, businesses have embraced growth through mergers and acquisitions by multinational companies, which has proven to be successful in making their presence stronger.

“The global foodservice market is anticipated to grow over 4.72% CAGR during the next five years due to growing consumer base and increasing disposable income. Moreover, technological up-gradation and growing demand for ready-to-eat foods are further anticipated to positively influence the growth of the market through 2026,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Global Foodservice Market By Type (Dining Service, QSR (Quick Service Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others), By Ownership (Independent Outlets vs. Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the global foodservice market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global foodservice market.

 

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies, and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

 

Tel: +1-646-360-1656

 

Email: sales@techsciresearch.com

 

Web:   https://www.techsciresearch.com/