Leading companies in the catering and mobile food service market include Darden Restaurants, Yum China Holdings Inc., McDonald’s, Chipotle, Berkshire Hathaway Inc., Subway, Zensho Holdings Co. Ltd. , Chick-fil-A and Brinker International and Bloomin ‘Brands.
New York, December 30, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Restaurants And Mobile Food Services Global Market Report 2022” – https://www.reportlinker.com/p06193677/?utm_source=GNW
The global mobile restaurants and foodservice market is expected to grow from $ 2,672.94 billion in 2021 to $ 2,958.31 billion in 2022 at a compound annual growth rate (CAGR) of 10.7%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities which resulted in operational challenges. The market is expected to reach $ 4.262.20 billion in 2026 at a CAGR of 9.6%.
The restaurants and mobile food services market includes the sales of restaurants and mobile food services and related products by entities (organizations, independent traders and partnerships) that provide catering services to customers who order and are served seated. (i.e., pay after eating; provide food service to customers who typically order or select items (e.g., at the counter, in a buffet line) and pay before eating; or prepare and / or serve a specialty snack (for example, ice cream, frozen yogurt, cookies) and / or non-alcoholic beverages (for example, coffee, fruit juices, sodas) to be consumed on the premises or nearby. This market includes income from sales of restaurants to a delivery service but not the revenue from the delivery service itself.
The types of restaurants and mobile food services are full service restaurants, limited service restaurants, cafeterias, grill buffets and buffets, and mobile food services. A cafeteria is a self-service restaurant where customers choose their meal at the counter and pay for it before bringing it to their table.
Cafeterias are usually located in public facilities such as hospitals and retail establishments. Services belong to chained and autonomous markets and prices range from high end to economy.
Asia Pacific was the largest region in the mobile restaurant and food service market in 2021. North America was the second largest region in the mobile restaurant and food service market.
The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.
Globalization is expected to pave the way for more joint ventures, foreign investment, global expansion and multinational companies setting up facilities in high growth regions, allowing restaurateurs to offer their kitchens to customers around the world. . Globalization is also making it easier. for restaurants to source exotic ingredients and therefore to offer a more sophisticated and wider variety of dishes to its customers, thus giving restaurants the opportunity to be competitive on a global scale.
In addition, globalization has increased the number of potential salespeople for restaurants, reducing the bargaining power of suppliers and thus improving results. For example, McDonald’s produces in many countries and has franchises around the world.
It invests and supports initiatives to tailor its products and services to different locations to ensure its global brand. This rise in globalization is likely to stimulate investment and therefore drive the market forward.
Establishments in the restaurant and mobile food service market rely heavily on recommendations and reviews, which is why restaurants promote themselves through social media platforms. Mobile apps like GrubHub and JustEat allow customers to review, browse menu and nutrition information, order, and make reservations.
Social media improves customer loyalty and public reputation as customers share photos and reviews, thus increasing restaurant awareness. For example, restaurants are adopting live streaming restaurant videos to engage and interact with online subscribers.
Social media is therefore expected to be a major driver of the restaurant and mobile catering industry.
The coronavirus disease (COVID-19) outbreak acted as a massive restriction on the restaurant and mobile food service market in 2020 as governments around the world imposed restrictions on domestic and international travel limiting the need for the services offered by these establishments. COVID-19 is an infectious disease with flu-like symptoms, including fever, cough, and difficulty breathing.
The virus was first identified in 2019 in Wuhan, Hubei Province in the People’s Republic of China, and has spread around the world, including Western Europe, North America and Asia. Measures taken by national governments to contain transmission have resulted in a decline in economic activity with countries entering a state of ‘containment’ and the outbreak negatively impacting businesses throughout 2020 and until 2021.
However, the restaurant and mobile food service market is expected to recover from the shock during the forecast period as it is a ‘black swan’ event and not linked to any changes. persistent or fundamental weaknesses in the market or world economy.
Countries Covered in the Restaurant and Mobile Food Service Market Report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Republic Czech, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, United Arab Emirates, United Kingdom, United States , Venezuela and Vietnam.
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