The Business Research Company Global Food & Beverage Services Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, UK, January 10, 2022 /EINPresswire.com/ – The catering services market is expected to benefit from the increasing digitization of catering services. Consumers increasingly prefer to order food online for home delivery. For example, according to KPMG, the average per person per year spend on take-out in the UK has increased by 42% over two years: from £ 452 ($ 506) in 2019 to £ 641 ($ 721) in 2021. Major companies providing food delivery services include Deliveroo, Just Eat, and Uber Eats. TBRC’s food and beverage services market forecast indicates that this trend is likely to continue and drive the food service market forward.
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Asia-Pacific was the largest region in the food service market in 2021. North America was the second largest region in the food service market. The regions covered by the Catering Services Market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The size of the global restaurant services market is expected to grow from $ 3.23 trillion in 2021 to $ 3.68 trillion in 2022 at a compound annual growth rate (CAGR) of 13.8%. Growth in the foodservice market is primarily driven by 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 commercial activities which created operational challenges. The market is expected to reach $ 5.23 trillion in 2026 at a CAGR of 9.2%.
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Modernization of technologies in restaurants improves customer satisfaction, thus increasing restaurant sales. Industry establishments are introducing auto-order touchscreen kiosks, mobile apps for customizable orders and fast payments, and digital entertainment such as games. For example, in 2020, McDonald’s, a US-based fast food restaurant company, created a team focused on digital customer engagement as the restaurant industry continues to look to technology as a key means to to increase the sales. The new team is part of the fast food company’s ambition to leverage technology to reach customers and increase sales. As part of this effort, McDonald’s has installed digital ordering kiosks in its restaurants, expanded meal delivery and made technology investments.
The major players in the global food service industry are Compass group plc, Starbucks, Sodexo, Aramark corporation, McDonald’s, Darden Restaurants, Yum China Holdings Inc., Chipotle, Berkshire Hathaway Inc. and Subway.
TBRC Global Food and Beverage Services Market report is segmented by Type into Mobile Restaurants and Food Services, Bars and Cafes, Food Service and Catering Contractors, by Chain Market Property, Autonomous Market , by pricing in the high-end economy.
Global Foodservices Market Report 2022 – By Type (Restaurants and Mobile Foodservices, Bars and Cafes, Foodservices, and Catering Contractors), By Property (Chain Market, Autonomous Market), By Price (Top of range, economy) – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports from The Business Research Company that provides catering services market overview, forecast for the size and growth of the Catering services market for the entire market, food and beverage service market segments, geographies, catering services market trends, catering services market drivers, restraints, revenues, profiles and shares of the main competitors.
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