To identify growth opportunities in the commercial foodservice market, the market has been segmented into regions that are growing faster than the overall market. These regions have been pitted against regions that have a slower growth rate than the global market in 2018-2023. APAC and North America will grow faster than the overall market. The growth of Europe, MEA, and South America will be slower than the global market.
Some of the key findings from this commercial foodservice market forecast report are summarized below
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.
Global commercial foodservice industry overview
There is an increasing preference among individuals across the globe to dine out. This popularity of dining out is resulting in increased spending in restaurants. To capitalize on this trend, several companies in the commercial foodservice market are focusing on expanding their global presence. Major market players such as McDonald’s and Taco Bell have already announced plans to open new stores in countries such as China and the UK. Similarly, Domino’s is also focusing on expanding its presence in countries such as India. This increase in the number of restaurants and fast food chains will have a significant impact on the growth of the commercial foodservice market size in the coming years.
Restaurants around the world are focusing on adopting technologies to improve their operational efficiency. For instance, the adoption of Bluetooth-enabled temperature monitoring systems helps companies keeps track of the temperature of food products and equipment. With the shortage of labor, restaurants have also started adopting autonomous robotic kitchen assistants that can help chefs improve their service and efficiency. In addition to the increasing number of restaurants across the globe, the trend of implementing new technologies in restaurants and food chains will also fuel the growth of this market over the forecast period. As a result of these factors, the commercial foodservice market will grow at a CAGR of nearly 5% during the forecast period.
Top commercial foodservice companies covered in this market research report
The global commercial foodservice market is fairly fragmented. To help clients improve their market position, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this commercial foodservice market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several commercial foodservice companies, including:
- Brinker International Inc.
- Compass Group PLC
- McDonald's
- Starbucks Coffee Company
- Yum! Brands Inc.
Commercial foodservice market segmentation based on type
- Restaurants
- Caterers
- Drinking establishments
The increasing number of full-service restaurants and the introduction of new dishes will increase the preference of individuals to dine in restaurants. The emergence of quick-service restaurants and growing vendor investment in ad campaigns will also increase customer preference to dine at restaurants. As a result, restaurants will account for the largest global commercial foodservice market share throughout the forecast period.
Commercial foodservice market segmentation based on geography
- APAC
- Europe
- MEA
- North America
- South America
During the forecast period, APAC will offer maximum growth opportunities to commercial food service establishments. The increasing number of restaurants, the introduction of new food products, and the growing preference for dining out by millennials in India and China are driving the growth of the commercial foodservice market size in APAC. Moreover, the increasing adoption of new technologies by vendors to improve the customer experience will also boost the growth of the market in this region.
Key highlights of the global commercial foodservice market report for the forecast period 2019-2023
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the commercial foodservice market during the next five years
- Precise estimation of the global commercial foodservice market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the commercial foodservice industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of commercial foodservice companies
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch