Foodservice Market to Rise due to Changing Food Preferences of Consumers Globally
A new market research report by Transparency Market Research, titled “Foodservice Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” offers an in-depth analysis of the market and also evaluates the growth potential of the market. The study encapsulates the trends, opportunities, and market size of the global foodservice market. The major product developments and the predicted innovations that are poised to take place in this market are also presented in this study.
The major players operating in this market coupled with their product launches, market shares, and key strategies have also been presented under the competitive landscape section of this study. The market for food services is broadly segmented in terms of type of food offered, type of foodservice system, and geography. Hence, this report is a comprehensive document providing answers to distributors, suppliers, and marketing managers in the global foodservice market.
The food service market includes the institutions, hospital and school cafeterias, catering operations, restaurants, businesses, and companies that serve snacks and meals. A number of food service companies have now moved to supermarkets for growing their customer base. The food service companies dominant within supermarkets present cost-effective options for consumers, hence providing good substitutes for home-cooked meals.
The market for food service is experiencing growth owing to the rising count of hotels, quick service operators, and the increasing casual dining globally. In addition, the changing food preferences of consumers and their shift towards greater variety of food choices is also boosting the global food service market. On the other hand, the soaring costs involved in maintaining the hygiene and consistency of food quality coupled with the rising need for labor may impede the growth of the market in forthcoming years.
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There are mainly four kinds of food service systems, namely centralized, conventional, ready prepared, and assembly service. Of these, conventional foodservice systems emerged as the most common kind of foodservice system. The market for foodservice is increasingly being implemented in schools, universities, colleges, and restaurants wherein students tend to take their daily meals in cafeterias. These cafeterias work on the conventional foodservice system.
On the basis of geography, the report segments the global foodservice market into Asia Pacific, North America, Europe, and Rest of the World (RoW). Of these, North America has the largest count of food chains and restaurants owing to the increasing demand for fast food. Western Europe trailed North America and held the second-largest share in the market. The UK, Germany, Spain, and Italy are the major markets for food service within Western Europe.
Aramark Corporation, Sodexo, Compass Group North America, Centerplate, and Guest Services, among others are the major companies in the global foodservice market, as per this study.