New York, 30 Dec. 2021 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Restaurants And Mobile Food Services Global Market Report 2022” – https://www.reportlinker.com/p06193677/?utm_source=GNW
The global restaurants and mobile food services 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 had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $4,262.20 billion in 2026 with a CAGR of 9.6%.
The restaurants and mobile food services market includes the sales of restaurants and mobile food services and related goods by entities (organizations, sole traders and partnerships) that provide food services to customers who order and are served seated (i.e. waiter/waitress service) and pay after eating; provide catering services to customers who typically order or select items (eg, at the counter, in a buffet line) and pay before eating; or prepare and/or serve a specialty snack (eg, ice cream, frozen yogurt, cookies) and/or non-alcoholic beverages (eg, coffee, juice, soda) for consumption on or near the premises. This market includes revenue from restaurant sales to a delivery service but not 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 self-contained markets and prices range from premium to budget.
Asia-Pacific was the largest region in the restaurants and mobile food services market in 2021. North America was the second largest region in the restaurants and mobile food services market.
Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Globalization is expected to pave the way for more joint ventures, foreign investment, global expansion, and multinational companies moving into high-growth regions, enabling restaurateurs to offer their kitchens to customers around the world. . Globalization also makes things easier. restaurants to source exotic ingredients and therefore offer more sophisticated and varied dishes to their customers, thus giving restaurants the opportunity to compete on a global scale.
Additionally, globalization has increased the number of potential sellers for restaurants, reducing the bargaining power of suppliers and thus improving bottom lines. For example, McDonald’s produces in many countries and has franchises around the world.
It invests in and supports initiatives to adapt its products and services to different locations to ensure its global brand. This rise in globalization is likely to drive investment and therefore drive the market forward.
Establishments in the catering and mobile food services market rely heavily on recommendations and reviews, which is why restaurants promote them through social media platforms. Mobile apps such as 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, thereby increasing restaurant awareness. For example, restaurants are adopting live restaurant videos to engage and interact with online subscribers.
Social media is therefore expected to be an important driver of the restaurant and mobile food service industry.
The coronavirus disease (COVID-19) outbreak acted as a massive constraint on the restaurants and mobile food services market in 2020 as governments imposed restrictions on domestic and international travel globally , limiting the need for services offered by these facilities.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 lower economic activity as countries enter a state of ‘lockdown’ and the outbreak has negatively impacted businesses throughout 2020 and until 2021.
However, the restaurant and mobile catering market is expected to recover from the shock during the forecast period as it is a “black swan” event and not related to weaknesses. persistent or fundamental market or global economy.
The countries covered in the Restaurants and Mobile Food Services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Republic Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India and 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.
Read the full report: https://www.reportlinker.com/p06193677/?utm_source=GNW
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