Food Service Market is Expected to Reach US$ 4.2 Trillion by 2024 – IMARC Group

1. Global Food Service Market Research Report and Forecast 2024 Report Edition: 2019 Copyright © IMARC Service Pvt Ltd. All Rights Reserved © 2019 IMARC All Rights Reserved

2. Report DescriptionAbout IMARC Group The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value challenges, and transform their businesses. opportunities, address their most critical IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise. IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.

3. Report Description and Highlights Report Description Global Food Service Market Overview: According to the latest study by IMARC Group, titled “Food Service Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global food service market size reached US$ 3.4 Trillion in 2018. Food service refers to the business of providing food for takeaways, home deliveries or immediate consumption across residences, offices, schools, hospitals, cafes, restaurants, and fast-food joints. The food can either be conventionally assembled, prepared and served in the same premises, or can be produced in a centralized kitchen with the food further transported to different locations. Food service establishments can also adopt other systematic approaches, including a ready prepared system in which the food is prepared and is then chilled until required, or an assembly-serve system which comprises purchasing, storing, assembling and serving of pre-made food to consumers. Food Service Market Trends The thriving food and beverage industry is one of the primary factors driving the growth of the market. Additionally, hectic working schedules and changing dietary preferences have led a majority of the population to shift toward convenience and the on-the-go food options.

4. Report Description and Highlights Report Description 186.5 181.2 120.2125.5130.8136.1141.4146.7152.0157.3 175.9 170.6 160 180 165.3 160.0 160 140 140 120 In Trillion US$ in Trillion US$ 120 100 100 80 80 60 60 40 40 20 20 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Furthermore, improving living standards and inflating disposable income levels have led to an increase in the frequency of social gatherings and corporate events, which is positively influencing the catering industry. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 4.2 Trillion by 2024, expanding at a CAGR of 3.6% during 2019-2024. Request for a free sample report: https://www.imarcgroup.com/food-service-market/requestsample

5. Report Description and Highlights Report Description Consequently, there is a proliferation of quick-service restaurants (QSRs) and online food delivery portals that has made pre-made and packaged food easily accessible to and affordable for consumers. Also, the concept of build-your-own and small plate menus, along with customized combinations of fresh-quality ingredients is gaining rapid popularity among consumers. Such scope of personalization offers a wide range of options to consumers while catering to their diverse tastes. Key Market Segmentation: Market Segmentation by Sector • • Commercial Non-commercial On the basis of the sector, the market has been bifurcated into commercial and non-commercial, wherein commercial represents the largest segment. Market Segmentation by Types of Foodservice System • Conventional Foodservice System

6. Report Description and Highlights Report Description • • • Centralized Foodservice System Ready Prepared Foodservice System Assembly-Serve Foodservice System Based on the food service system, the market has been divided into conventional, centralized, ready prepared and assembly-serve foodservice systems. Amongst these, the conventional food service system is the most preferred segment. For more information, click here: https://www.imarcgroup.com/food-service-market Market Segmentation by Types of Restaurants • • • • Fast Food Restaurants Full Service Restaurants Limited Service Restaurants Special Food Services Restaurants On the basis of the types of restaurants, full-service restaurants exhibit a clear dominance in the market. Other major segments include fast food, limited service and special food services restaurants.

7. Report Description and Highlights Report Description Market Segmentation by Region • • • • • Asia Pacific North America Europe Middle East and Africa Latin America On the geographical front, the market has been segregated into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. At present, Asia Pacific holds the leading position in the market. Competitive Landscape: The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the market.

8. Report Description and Highlights Report Description Browse Related Report West Africa Food Services Market Report: https://www.imarcgroup.com/west-africa-food-services- market Guacamole Market Report: https://www.imarcgroup.com/guacamole-market

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11. Report Description and Highlights Report Description © 2019 IMARC All Rights Reserved This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC). Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication. IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.

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