Food And Beverage Services Global Market Sees Growth Rate Of 14% Through 2022
5 Jan, 2022
The global food and beverage services market size 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%. The growth in the food and beverage services market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food and beverage services market is expected to reach $5.23 trillion in 2026 at a CAGR of 9.2%.
What is the Global Food And Beverage Services Market?
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.
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What drives the Global Food And Beverage Services Market?
The food and beverage services market is expected to benefit from rising digitalization of food services. Consumers are increasingly preferring to order food online for home deliveries. For instance, according to KPMG, average spend per person per year on food takeaways in the UK rose 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. This trend is likely to continue in the forecast period and drive the food and beverage services market going forward.
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https://www.thebusinessresearchcompany.com/report/food-and-beverage-services-global-market-reportGlobal Food And Beverage Services Market Segments
The global food and beverage services market is segmented:
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
By Geography: The regions covered in the food and beverage services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia Pacific accounts for the largest share in the global food and beverage services market.
Food And Beverage Services Global Market Report 2022provides market size and growth forecasts for the global food and beverage services market, global food and beverage services market share, food and beverage services market segments and geographies, food and beverage services market competitive landscape including 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.
Global Food And Beverage Services Industry Playersinclude Compass group plc, Starbucks, Sodexo, Aramark corporation, McDonald's, Darden Restaurants, Yum China Holdings Inc., Chipotle, Berkshire Hathaway Inc. and Subway. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.