Foodservice Market Size to grow by USD 157.03 billion | Market Insights highlights the increased snacking and indulgence consumption as a key driver | Technavio

NEW YORK, Jan. 3, 2022 /PRNewswire/ -- According to the research report "Foodservice Market in the US by Type and Foodservice System - Forecast and Analysis 2021-2025", the market will witness a YOY growth of 62.00% in 2021 at a CAGR of 2.50% during the forecast period. Furthermore, this report extensively covers market segmentation by type (fast food service, restaurant, cafés and bars, delivery and take away, and others) and foodservice system (conventional, centralized, ready-prepared, and assembly-serve).

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Vendor Insights 

The foodservice market size in the US is fragmented and it is expected to remain fragmented as the vendors are deploying various organic and inorganic growth strategies to occupy the foodservice market share.

The changing economic conditions; consumer purchase patterns; consumer tastes: regional, national, and local economic conditions; and demographic trends affect the consumer living standards and the business operations of vendors. Market suppliers should focus more on the fast-growing segment's growth prospects while preserving their positions in the slow-growing sectors to make the most of the opportunity.

The profiles offer information on the main companies' production, competitive landscape, sustainability, and prospects, including:  

• Chick-fil-A Inc.
• Doctors Associates LLC
• Dunkin Brands Group Inc.
• McDonald's Corp.
• Restaurant Brands International Inc.
• Starbucks Corp.
• YUM! Brands Inc.

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Geographical Market Analysis 

According to our research report, the US will contribute 100% of the global market growth and is expected to dominate the market through 2025. The foodservice market size in the US is bifurcated into two branches, fast-growing regions, and slow-growing regions. The increase in the number of fast-casual restaurants is notably driving the foodservice market growth in fast-growing regions. The fast-growing foodservice market is being driven by new technological advances. Food service operators are increasingly relying on smartphone technology to promote their establishments and to help the rate of online orders. The overall foodservice market in the US is expected to grow at a moderate rate during the forecast period.          

Know more about this market's geographical distribution along with the detailed analysis of the top regions. https://www.technavio.com/report/foodservice-market-in-us-industry-analysis

Key Segment Analysis

The conventional foodservice system segment is expected to witness steady demand growth during the forecast period. Conventional foodservice vendors ensure that the food is freshly prepared and customized according to customers' liking. Before being served to consumers, the food is kept in containers for a short time. Schools, universities, restaurants, and cafeterias are among the places where this foodservice system is implemented.

The key driver for conventional foodservice system is:

• Good quality food, as it is prepared on-site
• Flexibility in the menu
• Foods are served right after preparation

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Key Market Drivers & Trends: 

Increased snacking and indulgence consumption is notably driving the foodservice market growth in the US as many consumers are replacing their routine meals with on-the-go snacks and light meals. Vendors in the US are extensively offering healthy food options, such as doughnuts, bread, rolls, pies, sandwiches, and other similar products for breakfast that include healthy ingredients. 

Though consumers have become more health-conscious and prefer healthy snacks, the demand for premium food kinds such as premium doughnuts, cakes, cookies, and pastries has been steadily increasing. The other factors driving the foodservice market in the US are changing lifestyles of consumers and increasing demand for allergen-free dining. Furthermore, the demands for gluten-free restaurants and eateries are increasing from different consumer quarters, especially from people affected with celiac disease. Thus, allergen-free dining will fuel the foodservice market in the US during the forecast period.

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