Foodservice Market Size and Trend Analysis by Profit Channel (Restaurants; Clubs, Pubs, and Bars; Retail; Accommodation; Others), Regions, and Forecast, 2021-2026

Foodservice Market Overview

The global foodservice market size was valued at $756.2 billion in 2021. The market is expected to grow at 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.

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.

Global Foodservice Market Overview

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Global Foodservice Market: Regional-Level Outlook

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. Asia was the largest foodservice market in 2021. The recovery in Asian markets was led by takeaways and the adoption of technology including online menus and contactless payments.

Foodservice market in 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.

Foodservice market in 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.

Foodservice market in 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.

Foodservice market in 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.

Foodservice market in 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.

Foodservice market in the 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.

Foodservice market in 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.

Foodservice market in 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.

Global Foodservice Market Analysis by Regions

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Global Foodservice Market: Key Channels

The key channels in the foodservice market are accommodation, leisure, mobile operators, pubs, clubs, & bars, restaurants, retail, travel, and workplace.

Asia is the largest market for full-service restaurants while quick-service restaurants are more popular in North America.

Accommodation: The accommodation channel is expected to grow in all regions in the coming years. The rebound of hospitality services after the COVID-19 pandemic subsides will drive the growth.

Leisure: The leisure sector is expected to record growth in the coming years, owing to the rebound of entertainment services such as cinemas, public gatherings, and outdoor visits. In Asia, the reopening and return of normalcy of cinemas will drive the overall value increase.

Workplace: The COVID-19 pandemic heavily impacted the workplace channel in 2020. However, in 2021, the partial restart of operations with a limited or reduced workforce has helped the revival of foodservice outlets in the workplace

Global Foodservice Market Analysis by Channels

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Global Foodservice Market Report Overview

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.

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.