Global Foodservice Market: Increasing Demand for Customized Food Menus to Act as Growth Driver, Says TMR

Press Release   •   Oct 21, 2016 12:37 IST

A new study by Transparency Market Research (TMR), titled “Foodservice Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019,” offers an all-inclusive market assessment by evaluating the key trends, opportunities, challenges, and future prospects of this market. The market’s past and the current performance has also been examined thoroughly while preparing this study.

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As per the research report, the increasing demand for customized food menus, together with fresh ingredients in the food, is likely to propel the global market for foodservices in the coming years remarkably. However, the high cost incurred in maintaining the hygiene, quality, and the consistency of food, alongside the need for a large workforce, is anticipated to hamper the growth of this market to some extent in the near future. The implementation of several government regulations pertaining to food safety is also expected the act as a restraining factor.

The global foodservice market can be studied on the basis of the foodservice system, end-use application, and the geography. Based on the foodservice system, the market can be categorized into conventional, assembly service, centralized, and ready prepared. According to the research study, the most favored among them are conventional foodservice systems. However, ready prepared foodservice systems are likely to gain momentum across the world significantly over the next few years.

Based on the end-use application, the worldwide foodservice market can be classified into restaurants, schools and colleges, corporate office, and universities. Over the years, school and colleges have been registering an extensive application of foodservices, states the report.

Geographically, the market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World. Currently, North America holds the leading position on account of a large pool of restaurants and food chains. Europe and Asia Pacific are also projected to witness steady growth in this market over the forecast period, notes the study.

The research report also studies the competitive landscape of the global market for foodservices at length. It reviews the profiles of the key foodservice providers in order to identify the current market hierarchy. As per the report, Guest Services, Sodexo, Compass Group, Aramark Corp., and Centerplate are some of the leading providers of food services across the world.

Other prominent players in this market are Abela & Co., Yum! Brands, Starbucks, McDonald's, Restaurant Brands International, Domino's, Autogrill Group, BiRite Foodservice Distributors, CulinArt, Bon Appétit Management, Gordon Food Service, Jollibee Foods, Popeyes Louisiana Kitchen, Papa John's, Sysco Corp., Truitt Bros, White Castle, Jack in the Box, and AVI Foodsystems.

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