What is the Food service Market Size?
According to 6Wresearch internal database and industry insights, the
Global Food Service Market was valued at USD 3,790.3 billion in 2024 and is anticipated to exceed USD 5,892.6 billion by 2031, registering a steady at a CAGR of 6.5% during the forecast period.
The food service market encompasses businesses involved in preparing and serving food and beverages outside the home, including restaurants, catering services, cafes, fast-food chains, and institutional food operations. The sector is experiencing dynamic transformation driven by changing consumer preferences, increasing urbanization, expansion of delivery models, and growing health and sustainability awareness.
Major Growth Factors of the Food service Industry
- Urbanization and rising disposable income
- Expansion of online food delivery platforms
- Growth in quick service restaurants (QSRs)
- Increasing demand for international cuisines
- Rising health consciousness and dietary diversity
- Technological integration in ordering and delivery
Food service Market Trends
The market is witnessing a shift toward digital ordering systems, mobile app-based engagement, and cloud kitchens. Consumers are increasingly demanding customization, healthy meal options, and sustainable packaging. Convenience, speed, and personalized services are also defining the operational strategy of food service providers.
Emerging Developments in the Food service Industry
Food service providers are rapidly adopting AI, data analytics, and automation to enhance customer experience and streamline operations. Ghost kitchens and subscription meal services are expanding. Emphasis on plant-based and ethically sourced ingredients is reshaping menu strategies.
Major Companies in the Food service Industry
- McDonald’s Corporation
- Yum! Brands Inc.
- Starbucks Corporation
- Domino’s Pizza Inc.
- Compass Group PLC
- Aramark Corporation
- Sodexo S.A.
- Darden Restaurants, Inc.
- Restaurant Brands International
- Chipotle Mexican Grill, Inc.
Food Service Market Size : FAQ's
The global food service market is valued at USD 3,789.3 billion in 2024.
The market is expected to reach USD 5,892.6 billion by 2031.
The market is growing at a CAGR of 6.5% during the forecast period.
Digitalization, healthy eating, sustainability, and cloud kitchens are key trends influencing the market.
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