Global Foodservice Market Impelled by Rising Trend among Young Consumers to Eat Frequently at Cafeterias
A new market intelligence study by Transparency Market Research presents a detailed overview of the global foodservice market. The report is titled “Foodservice Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.” The market research study provides a comprehensive analysis of the growth drivers, factors challenging growth, future trends, and projections of the market for the period from 2013 to 2019.
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Foodservice is the part of the food industry that caters to schools, colleges, restaurants, cafeterias, and others. There are majorly four types of foodservice systems – conventional, assembly service, centralized, and ready prepared. The most common type of food service system is the conventional system. The rising trend among individuals studying in schools, colleges, and universities or those working in offices to eat their daily meals at cafeterias and restaurants is the primary growth driver of the foodservice market.
The growing consumption of meals and snacks at food service establishments is fueling the demand for different types of foods. Eating out offers convenience, thus fueling the foodservice market. Moreover, foodservice operators are now offering healthier choices for health-conscious consumers, further fueling the market across the globe.
The challenges faced by the global foodservice market include the necessity to comply with public health service departments to ensure quality food, as per recommended standards. The high cost incurred to maintain the consistency of food quality along with hygiene is also expected to curb the growth of the market. Considerable expenses are also incurred by foodservice providers due to the large labor force required. Thus, these factors are obstructing the growth of the market to an extent.
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The report segments the global foodservice market on the basis of geography into Europe, Asia Pacific, North America, and the Rest of the World. Of these, North America is currently dominant in the foodservice market due to a high number of restaurants and food chains. The rising demand for fast food is also one of the prime reasons for the growth of the market in the region. Moreover, North America benefits from a high number of mergers that have occurred in the recent past, thus fueling the growth of the market in the region. Western Europe follows North America in size. Countries such as Germany, France, the U.K., Spain, and Italy hold significant market shares in the Western Europe regional segment.
The report profiles some of the leading players operating in the foodservice market, such as: Guest Services, Compass Group North America, Aramark Corporation, Centerplate, and Sodexo.