Foodservice Market Size and Trend Analysis by Profit Channel, Regions and Forecast to 2026

Foodservice Market Report Overview

The global foodservice market size was valued at $756.2 billion in 2021. The COVID-19 pandemic induced a global slowdown, resulting in a drastic decline across the foodservice (FS) industry in 2020. However, with the pandemic subsiding, the industry recovered in 2021 and is expected to register a CAGR of more than 8% during the forecast period. Travel, accommodation, and leisure channels, which were hampered during the pandemic, will grow significantly during the forecast period, registering a rebound across all regions. This growth will be driven by the revival of tourism, which came to a standstill due to the restrictions on people’s movement and international travel during the pandemic.

Global Foodservice Market Overview, 2021-2026 ($Billion)

To gain more information on the global foodservice market forecast, download a free report sample

The global foodservice market research report provides the most up-to-date view of the foodservice markets around the world. This report outlines the market trends impacting the foodservice industry and what implications these may have on its future. Furthermore, it explores the evolution of the market amid COVID-19, analyzing the industry’s global and regional performance as well as a performance by channel.

Foodservice Market Segmentation by Regions

The key regions in the global foodservice market are Africa, Asia, Australasia, East Europe, Latin America, Middle East & North Africa, North America, and West Europe.

Africa: South African foodservice sales are expected to increase in 2023 as the country further recovers from the pandemic. Restaurants account for a large part of the overall foodservice value, followed by the pub, club & bar channels. Quick-service restaurant & fast food (QSR) is the largest channel among restaurant outlets in South Africa. Rapid store roll-outs and investments by foreign brands will drive growth in the channel.

Asia: The Asian foodservice industry will continue growing in 2023. The revival of tourism in Thailand will be the key contributor to this growth. China, the largest market, will grow in 2023. Diverse menu options, along with innovative localized offerings, will help the growth of restaurant operators. Japan, the second-largest foodservice market in Asia will also grow in the coming years as the country eased the COVID-19 restrictions on bars and restaurants throughout the country in March 2022.

Australasia: As the Australian economy recovers from the pandemic, consumer visits to foodservice outlets will grow. Significant investments by leading players will drive the QSR channel’s growth. In June 2021, McDonald’s Australia announced its plan to invest a hefty amount in the country, to open 100 new stores across the country by 2024. The company plans to focus on drive-thrus, digital capabilities, and deliveries.

East Europe: The foodservice sector is forecast to record growth in all Eastern European countries in 2023. Turkey, the leading market, is dominated by restaurants. Among restaurants, full-service restaurants have the largest share. Other major foodservice markets in the region include Poland, the Czech Republic, and Russia. The ongoing war involving Ukraine and Russia will hamper the economies of both nations, hindering the growth of the industry in the coming years in these countries.

Latin America: All major Latin American countries will register growth in their foodservice industry in 2023, as they recover from the adverse impact of the pandemic.  Mexico and Brazil will have the highest market shares in the Latin American foodservice market in 2022. However, the growth in Mexico is likely to be hampered by inflation. Among restaurants, quick-service restaurants will register the largest share in 2023.

Middle East & North Africa: Foodservice revenue in the Middle East and North African region is expected to grow by 2023. Among the markets in the region, The UAE foodservice market will have the highest market share followed by Israel. Among restaurants, quick-service restaurants will register the largest share in 2022.

North America: The US foodservice industry has the highest market share in the North American foodservice market in 2022. The pandemic led to a significant decline in the industry due to the closure of restaurant, accommodation, leisure, and retail channels. In the coming years, restaurants will be even more digitalized, with online menus and table ordering options becoming an integral part of restaurants. For instance, the adoption of delivery robots will pick up the pace. Restaurants will include more variety in their offerings. Owing to the impact of social media, consumers will also be exposed to more varieties of dishes and cuisines.

West Europe: Italy, France, Germany, Spain, and the UK account for the major market shares in the Western Europe foodservice market in 2022. Restaurants account for most of the foodservice value in Italy. Among restaurants, coffee & tea shops dominate due to the popularity of the coffee culture in the region. Italy is also known for its coffee culture. Leading global restaurant brands are focused on expanding their presence in the country.

Foodservice Market Analysis by Regions, 2021 (%)

Buy full foodservice market report for regional insights, download a free report sample

Foodservice Market Segmentation by Channels

The key channels in the foodservice market are accommodation, leisure, mobile operators, pubs, clubs, & bars, restaurants, retail, travel, and workplace. In 2021, restaurants were the largest revenue-generating channel segment in the foodservice market.

Foodservice Market Analysis by Channels, 2021 (%)

For more channel insights, download a free report sample

Key Segments Covered in this Report.

Foodservice Market Channel Outlook (2021-2026, $ Billion)

• Accommodation
• Leisure
• Mobile Operators
• Pubs, Clubs, & Bars
• Restaurants
• Retail
• Travel
• Workplace

Foodservice Market Regional Outlook (2021-2026, $ Billion)

• Africa
• Asia
• Australasia
• East Europe
• Latin America
• Middle East & North Africa
• North America
• West Europe

Scope

• Restaurants accounted for more than 65% of the overall foodservice sales, with Asia leading the global trend.
• Thailand and Turkey are forecast to grow significantly in the next few years.
• Full-service restaurants are the largest restaurant type globally.

Key Highlights

• Restaurants accounted for more than 65% of the overall foodservice sales, with Asia leading the global trend.
• Thailand and Turkey are forecast to grow significantly in the next few years.
• Full-service restaurants are the largest restaurant type globally.

Reasons to Buy

• Understand the challenges and opportunities faced by the industry to tap into what is impacting it.
• Gain a broader appreciation of the foodservice channel by gaining insights from both within and outside of your sector.
• Access valuable data to help direct future decision-making and inform new product development.