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The Business Research Company’s food and beverage services global market report, covers the year-on-year growth of the global food and beverage services market historic and forecast growth. It also includes chapters on the food and beverage services market trends, geographical analysis, and competitive landscape.
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The global food and beverage services market size is expected to reach $6.3 trillion by 2022, significantly growing at a CAGR of around 7.4% during the forecast period.
Food And Beverage Services Market Trends
The food and beverage services market consists of sales of food and beverage services by entities (organizations, sole traders and partnerships) that provide meals, snacks, and beverages to customer order for immediate on-premises and off-premises consumption.
Organic and locally produced food is becoming increasingly popular. Consumers are willing to pay more at restaurants and cafes that serve organic and locally grown food items. Almost 45% of Americans actively try to involve organic food in their diets. In 2013, the global sales of organic food and drink reached $72 billion, with Europe and the United States driving 90 percent of the world’s sales. Companies in the food and beverage services industry are seeking to differentiate themselves by upgrading their ingredients and experimenting with healthier dishes. For example, Panera Bread and Starbucks, each known for their seasonal pumpkin spice lattes, changed their recipes in order to eliminate undesirable ingredients and meet consumer demand for healthy dishes.
The global food and beverage services market is primarily driven by emerging markets growth, increase in disposable income and improved earning capacity.
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The global food and beverage services market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With busy lifestyle, influence of social media on the market, impact of new cuisines on the market, improving economic growth, the global food and beverage services market is expected to increase in potential and scope. TBRC’s report also covers the food and beverage services drivers and restraints in the market.
The global food and beverage services market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global food and beverage services market report are McDonald’s, Compass Group plc, Starbucks, Marriott International and Subway.
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