Report Description

The global cafeteria market is anticipated to register growth at an impressive CAGR in the forecast period, 2023-2027. The market growth can be attributed to the rising number of quick-service restaurants and increasing demand for fast food and ready-to-eat products. Owing to rapid urbanization coupled with the western influence, consumers are increasingly shifting towards fast food. Moreover, the growing working population across the globe prefers readily available food items, which is supporting the market growth. In addition, the rising disposable income of the consumers has resulted in growing spending on foods of different cuisines and flavors. Furthermore, social media is influencing consumers to explore new cafeterias that seem aesthetically appealing and have good food reviews. In coming years, more such influence is expected to aid the growth of the global cafeteria market.  

Growing Trend of Ordering Food Online Fuels the Market Growth

With the rising penetration of online food delivery platforms, and availability of reliable electronic payment systems, consumers are increasingly opting for online food delivery services. The online food delivery platforms offer a wide range of menus of various cuisines, provides several discount and cashback offers, and allows the tracking of food order, which seems lucrative for customers to order food from different cafeterias. During the COVID-19 outbreak, the cafeteria market in the online delivery segment witnessed a robust growth, primarily because online delivery allowed consumers to access prepared meals and enabled business owners to continue operating their business in the tough times. Moreover, in the era of digitalization, consumers are shifting from conventional ordering methods to online methods of ordering food. With the increasing adoption of this trend, the global cafeteria market is anticipated to grow a rapid pace.

Increased Spending on Outside Food to Boost Market Growth

The rise of dual income household due to increasing working women population across the globe is acting as one of the major factors for consumers to spend more food from outside. Moreover, people who migrate from one city to other for job purposes depend significantly on eating outlets for at least one meal of the day. Additionally, with the growing presence of local food outlets and cafes, the millennial population is gradually shifting towards the quick food serving cafeterias from the conventional family restaurants. Besides, increasing younger population who are more enticed to such food joints and increasing tourism are some of the factors augmenting the global cafeteria market growth.