Increasing Demand for Easy Bites to Drive Growth of Foodservice Industry, says TMR
With a substantial number of consumers shifting towards supercenters and supermarkets, foodservice companies are focusing on entering into supermarkets to expand their consumer base, states Transparency Market Research in a report titled “Foodservice Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019.”
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The report presents a comprehensive overview of the current market scenario, historical growth trajectory, and future growth opportunities of the global foodservice market. The study articulates the trends prevailing in the foodservice market considering all significant elements at play in the global as well as regional level. The report presents details of the market statistics of the key segments and the strategies, shares, and products and services provided by companies operating in the global foodservice market. The study provides an overview of the competition level among all the key players through Porter’s five forces and SWOT analysis.
Owing to the rise in the number of supermarkets, the demand for extra services within supermarkets has also increased. To accomplish a lead in the global foodservice market, leading foodservice companies are establishing quick bite service stalls in supercenters and supermarkets. Foodservice companies in supermarkets offer consumers less expensive food products to replace homemade meals. Moreover, companies operating in the global foodservice market are also focusing on the introduction of restaurants and bars in air hockey, snooker, and pool clubs in order to gain a wider consumer base.
According to the United States Department of Agriculture, food retailing and foodservice companies together supplied around food worth US$1.24 tn in 2010 in the United States. Foodservice companies also cater to restaurants, cafeterias, schools, and colleges. Due to the rise in the consumption of meals and snacks at foodservice centers, companies operating in the global foodservice market are aiming at providing value-added entertainment services along with their food services to consumers. Moreover, considering the rise in health awareness among consumers, foodservice centers are now focusing on offering more healthy variants for health conscious consumers.
The high cost incurred in maintaining food standards set by the public health service departments for ensuring the quality of food is likely to create challenges for companies operating in the global foodservice market. Costs incurred on requirements such as labor, food safety, and hygiene are anticipated to further impede the growth of the global foodservice market.
Geographically, the global foodservice market is classified into Asia Pacific, North America, Europe, and Rest of the World. North America is likely to emerge dominant with a wide range of food chains and restaurants owing to the growing demand for quick bites and fast food. North America is closely trailed by Western Europe. The key players operating in the global foodservice market are Aramark Corporation, Centerplate, Guest Services, Sodexo, and Compass Group North America.