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(GlobeNewswire) - The global food service market size crossed USD 2,323.29 billion in 2021 and is projected to rise from USD 2,540.05 billion in 2022 to USD 5,194.60 billion by 2029 at a CAGR of 10.76% during 2022-2029. Growth can be attributed to the rising disposable incomes of consumers, evolving lifestyles of consumers, particularly millennials, and the rising number of cafes, restaurants, and fast-food chains. Growing spending on non-homemade foods and a rise in online food deliveries will augment the market growth during the forecast period. The food service industry statistics has experienced significant growth and evolution in recent years. With changing consumer preferences, an emphasis on convenience, and a rise in digital technology, the industry has adapted to meet the demands of a diverse customer base. From fast food chains and casual dining establishments to food delivery services and meal kit subscriptions, the market has become increasingly competitive and innovative. Additionally, sustainability and health consciousness have become important factors, leading to the emergence of plant-based options, locally sourced ingredients, and eco-friendly packaging. As the food service market continues to expand and diversify, companies are continuously striving to provide high-quality, convenient, and sustainable dining experiences to meet the evolving needs of consumers.

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List of Key Players Profiled in the Food Service Market Report: McDonald's (U.S.)

Starbucks (U.S.)

Yum! Brands, Inc. (U.S.)

Darden Restaurants, Inc. (U.S.)

Restaurant Brands International Inc. (Canada)

The Wendys Company (U.S.)

Bloomin Brands, Inc. (U.S.)

Papa John's International, Inc. (U.S.)

Chipotle Mexican Grill, Inc. (U.S.)

Domino's (U.S.)

Report Scope & Segmentation: Report AttributeDetails

Forecast Period2022-2029

Forecast CAGR10.76%

2029 Value ProjectionUSD 5,194.60 Billion

Food Service Market Size in 2022USD 2,540.05 Billion

Historical Data2018-2020

No. of Pages228

Report CoverageRevenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends

Segments Covered By Type

By Service Type

Regions Covered North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Food Service Market Growth DriversIncreased Presence...

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