Global Foodservice Market: Size, Trends and Forecasts (2016-2020)
Scope of the Report
The report titled “Global Foodservice Market: Size, Trends and Forecasts (2016-2020)” analyzes the potential opportunities and significant trends in the foodservice market segments globally. Growth of the overall and regional foodservice markets has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The report also includes detailed analysis of leading players in the industry including Compass Group Plc, Sodexo, Sysco Corporation and Bidvest Group on the basis of attributes such as business overview, recent developments, financials and strategies adopted by the market leaders in order to ensure growth, sustainability, etc.
Asia Pacific – China, Australia
Europe – The UK, Italy
Latin America – Brazil
Middle East & Africa – South Africa
Compass Group Plc
Bidvest Group Limited
Foodservice is business-to-business (B2B) arrangement where specialized logistics providers serve the foodstuff and ingredient needs of businesses. Foodservice business comprises of sale of food and beverages prepared out-of-home for immediate consumption either on the point of purchase or for takeaway and home delivery. The market caters to cafeterias, hospitals, cafés, pubs, nightclubs, bars, and hotels. It is also present in schools, colleges, universities, and restaurants. The market can be broadly segmented into four categories - Conventional Foodservice system; Centralized/commissary Foodservice system; Ready-prepared Foodservice system; and Assembly-serve Foodservice system. Out of these, Conventional foodservice systems are the most common type of foodservice system.
Growth of global foodservice market is driven by rise in disposable income, growing demand of outside food in emerging markets and changing demographics and identities at home which further boosts demand for foodservice. However, factors such as political and economic instability in nations, lack of qualified workforce in the industry and rising cost of food are posing challenge to growth of the industry. Key trends prevailing in the industry includes rise in mergers and acquisitions in the industry globally and growing adoption of technology for day to day functioning.
Region-wise, the global foodservice market is divided into Asia Pacific, Europe, North America, Latin America and Middle East & Africa. Presently, Asia Pacific is the world’s largest foodservice market driven by rising demand in China and India. North America follows at second position with large number of restaurants and food chains due to the rising demand for fast food. Europe, being third largest foodservice market has France, Germany, Italy, the UK and Spain as major foodservice submarkets.