Moreover, the increased snacking and indulgence consumption is notably driving the market, although factors such as rising competition from the unorganized fast-food sector may impede market growth. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
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Key Market Dynamics:
Food consumption patterns and preferences have undergone a notable change, as many consumers are replacing their routine meals with on-the-go snacks and light meals. Over the past ten years, the number of consumers who prefer snacks has seen a rise in the US. Fast-paced lifestyles often compel consumers to skip their meals and consume on-the-go food. Similarly, the consumption of bakery products, such as doughnuts, bread, rolls, pies, and other similar products for breakfast, has surged in the US. Thus, vendors in the US are extensively offering healthy food options, such as doughnut sandwiches that include healthy ingredients. Though consumers have become more health-conscious and prefer healthy snacks, there is a steady growth in demand for premium food varieties, such as premium doughnuts, cakes, cookies, and pastries. A large percentage of consumers prefer premium and prepared snacks and are open to trying new and different flavors. Consequently, the demand for snacking at cafes and bars has increased significantly in the US.
The foodservice market in the US is experiencing a challenge from the growth of the unorganized fast-food sector. The number of unorganized fast food vendors, such as those that sell through street stalls and trucks, is exponentially increasing across the country. Such vendors offer a variety of fast food items at affordable prices, which are preferred by price-conscious customers. There are various consumer categories (based on income levels) in the urban areas of the US, and many vendors are starting fast food businesses to tap the demand. The growth of this segment is expected to increase during the forecast period, which will affect the foodservice market in US negatively.
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Segmentation Analysis & Forecasts
The foodservice market share growth in US by the fast foodservice segment will be significant during the forecast period. Many fast foodservice vendors in the US are offering veg burgers as healthy fast food and breakfast options. The availability of non-vegetarian food products in varied types of fast foods, such as pizzas, burgers, subways, and sandwiches, is expected to propel the growth of the segment significantly during the forecast period.
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Some Companies Mentioned with their Offerings
- Chick-fil-A Inc.- The company offers a range of chicken fast food products such as chick fill chicken sandwiches, chik fil deluxe sandwiches, and others.
- Doctors Associates LLC- The company offers a variety of foods along with nutrition such as sandwiches, protein bowls, signature wraps, and others.
- Dunkin Brands Group Inc.
- McDonald Corp.
- Restaurant Brands International Inc.
- Starbucks Corp.
- YUM! Brands Inc.
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Foodservice Market by Sector, Type, and Geography - Forecast and Analysis 2021-2025: The foodservice market size has the potential to grow by USD 822.31 billion during 2021-2025, and the market's growth momentum will accelerate at a CAGR of 4.48%. To get more exclusive research insights: Download Our FREE Sample Report
Foodservice Market in US Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.11% |
Market growth 2021-2025 |
$ 157.03 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.50 |
Regional analysis |
US |
Performing market contribution |
US at 100% |
Key consumer countries |
US |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Chick-fil-A Inc., Doctors Associates LLC, Dunkin Brands Group Inc., McDonald Corp., Restaurant Brands International Inc., Starbucks Corp., and YUM! Brands Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Fast foodservice - Market size and forecast 2020-2025
- Restaurant - Market size and forecast 2020-2025
- Cafés and Bars - Market size and forecast 2020-2025
- Delivery and takeaway - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- COVID-19 pandemic impact and recovery in the market
- Market opportunity by Type
Market Segmentation by Foodservice system
- Market segments
- Comparison by Foodservice system
- Conventional - Market size and forecast 2020-2025
- Centralized - Market size and forecast 2020-2025
- Ready-prepared - Market size and forecast 2020-2025
- Assembly-serve - Market size and forecast 2020-2025
- Market opportunity by Foodservice system
Customer landscape
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Chick-fil-A Inc.
- Doctors Associates LLC
- Domino's Pizza Inc.
- Dunkin Brands Group Inc.
- Marco's Franchising LLC
- McDonald Corp.
- Papa John's International Inc.
- Restaurant Brands International Inc.
- Starbucks Corp.
- YUM! Brands Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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SOURCE Technavio
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