Foodservice Channel Global Market 2024 To Reach $2,174.29 Billion By 2028 At Rate Of 22.6%

The Business Research Company's Foodservice Channel Global Market 2024 To Reach $2,174.29 Billion By 2028 At Rate Of 22.6%

LONDON, GREATER LONDON, UNITED KINGDOM, October 10, 2024 /EINPresswire.com/ -- The foodservice channel market has surged in recent years, growing from $786.38 billion in 2023 to $962.10 billion in 2024, with a CAGR of 22.3%. Growth factors include rising online ordering, the popularity of alcoholic beverages, the convenience of ready-to-eat products, increased demand for vegan options, and growth in tourism.

What Is The Estimated Market Size Of The Global Foodservice Channel Market And Its Annual Growth Rate?

The foodservice channel market is set for exponential growth, reaching $2,174.29 billion in 2028 at a CAGR of 22.6%. This growth will be propelled by the expansion of food courts, fast food preferences, rising income, and demand for convenience foods. Major trends include autonomous delivery systems, innovative food methods, digital payments, kitchen automation, and advanced tableware technology.

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Growth Driver of The Foodservice Channel Market

The growth of online food ordering is likely to accelerate the foodservice channel market. This digital process allows consumers to select and purchase meals from restaurants or food delivery services via websites or mobile apps, providing convenient ordering and payment without needing to visit in person. The rising trend in online food ordering stems from a desire for convenience and efficiency, fueled by the widespread use of smartphones and improved internet access. The foodservice channel enhances this by offering a broad range of restaurant and delivery options accessible through digital platforms, streamlining the ordering process.

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Which Market Players Are Driving The Foodservice Channel Market Growth?

Major companies operating in the foodservice channel market are McDonald's Corporation, Darden Restaurants Inc., Chipotle Mexican Grill Inc., Yum! Brands Inc., Restaurant Brands International Inc., Panera Bread Company, Domino's Pizza Inc., Bloomin' Brands Inc., Texas Roadhouse Inc., Brinker International Inc., Zaxby's Franchising Inc., Wendy's Company, BJ's Restaurants Inc., Shake Shack Inc., Cheesecake Factory Incorporated, First Watch Restaurant Group Inc., White Castle System Inc., Cava Group Inc., Noodles & Company, El Pollo Loco Holdings Inc., Sweetgreen Inc., Wingstop Inc., Fogo de Chão Inc., Dunkin' Brands Group Inc.

What Are The Emerging Trends Shaping The Foodservice Channel Market Size?

Companies in the foodservice channel market are developing innovative platforms, such as food and beverage (F&B) solutions, designed to provide tailored strategies for efficient inventory management, menu planning, and supply chain optimization. These solutions address evolving consumer preferences while supporting the diverse needs of various customers.

How Is The Global Foodservice Channel Market Segmented?

1) By Channel Outlook: Accommodation, Leisure, Mobile Operators, Pubs, Clubs, And Bars, Restaurants, Retail, Travel, Workplace
2) By Service: Commercial, Non-Commercial
3) By Systems: Conventional Foodservice System, Centralized Foodservice System, Ready Prepared Foodservice System, Assembly-Serve Foodservice System

Geographical Insights: North America Leading The Foodservice Channel Market

North America was the largest region in the foodservice channel market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the foodservice channel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Foodservice Channel Market Definition

The food service channel is a vital distribution network that delivers food and beverage products to establishments, ensuring an efficient supply chain that maintains the quality of food in the food service industry. This network plays a significant role in the larger food industry by supporting diverse dining options and contributing to the economic vitality of the hospitality sector.

Foodservice Channel Global Market Report 2024 from The Business Research Company covers the following information:

• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global foodservice channel market report covering trends, opportunities, strategies, and more

The Foodservice Channel Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on foodservice channel market size, drivers and trends, foodservice channel market major players, competitors' revenues, market positioning, and market growth across geographies. The market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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