Food And Beverage Services Global Market To Reach Value Of About $4 Trillion In 2025
5 Apr, 2021
The food and beverage services market consists of sales of food and beverage services and related goods by entities (organizations, sole traders and partnerships) that provide meals, snacks, and beverages to customer order for immediate on-premises and off-premises consumption. The food and beverage services market is segmented into restaurants and mobile food services, bars and cafes and catering services and food contractors.
Global Food And Beverage Services Market Size And Drivers:
The global food and beverage services market is expected to grow from $2.76 trillion in 2020 to $3.27 trillion in 2021 at a compound annual growth rate (CAGR) of 18.5%. The market is expected to reach $4.17 trillion in 2025 at a CAGR of 6%. The food and beverage services market is expected to benefit from rising digitalization of food services.
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Trends In The Global Food And Beverage Services Market
Modernizing technologies in restaurants improves customer satisfaction, thereby boosting restaurant sales. Many restaurants have recently begun introducing tablets on their tabletops to automate the process of ordering food as well as tipping. Apart from improving the overall dining experience, it also provides valuable data for restaurants.
Global Food And Beverage Services Market Segments:
The global food and beverage services market is further segmented based on type, ownership, pricing and geography.
By Type: Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors.
By Ownership: Chain Market, Standalone Market.
By Pricing: High-End, Economy.
Subsegments Covered: Full-Service Restaurants, Limited-Service Restaurants, Cafeterias, Grill Buffets, And Buffets, Mobile Food Services, Snack And Nonalcoholic Beverage Bars, Drinking Places (Alcoholic Beverages), Food Service Contractors, Catering Services.
By Geography: The global food and beverage services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global food and beverage services market, accounting for 47% of the total market.
Read More On The Report For The Global Food And Beverage Services Market At:https://www.thebusinessresearchcompany.com/report/food-and-beverage-services-global-market-report-2020-30-covid-19-impact-and-recovery
Food And Beverage Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides food and beverage services market overviews, analyzes and forecasts market size and growth for the global food and beverage services market, food and beverage services market share, food and beverage services market players, food and beverage services market segments and geographies, food and beverage services market’s leading competitors’ revenues, profiles and market shares. The food and beverage services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.