Global Foodservice Market By Type (Dining Services, QSR Quick Service Restaurants (QSR), Pubs, Bars, Cafe and Lounges (PBCL), and Others), By Ownership (Independent Outlets vs. Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026

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Summary

Report Description

The global foodservice market was valued at USD3093.96 billion in 2020, and it is estimated to advance with a CAGR of 4.72% in the forecast period, to reach USD3978.83 billion by the end of 2026. Some of the major factors propeling the growth of the market include continuous change in consumer taste, increasing innovation in existing products, rapid urbanization, attractive packaging of the food offered, hectic lifestyle, changing routine, and availability of different flavors.

Technological advancement is another key factor driving the market growth, globally. Majority of foodservice companies are using restaurant management software for the smooth functioning of their operations. This software alerts the restaurant manager about the delivery status of food, food wastage, etc. This software also serves as a handbook that needs to be followed by all chefs to refer to recipes. This software removes all the obstacles faced in the smooth running of food services and hence results in increased customer satisfaction, thereby contributing to the growth of the global food service market.

The foodservice industry is now, not only about tastes, but it is the research and development of functional and sustainable food products. Moreover, people have become more aware of the functional and anti-aging food products, so the prime focus of the foodservice industry is to cater to the demands related to products, which are good for anti-aging of skin, mind, muscle tissue, etc. Even the products like pasta, bread, or coffee are no longer considered only as a convenience products but have evolved into true luxury items as a result of variants.

The global foodservice market is categorized on the basis of type into dining services, QSR, PBCL, and others. Among them the QSR segment is projected to grow at the fastest rate in the forecast period. QSR is an industry given term for fast food restaurant chains such as Subway, McDonald's, Burger King, KFC, Taco Bell, Wendy’s, etc. The factors such as greater convenience, time saving, increased price consciousness and value-seeking consumer behavior, etc. have led to the rise in demand for QSRs. Furthermore, most QSRs, in addition to serving sit-down meals, also provide a variety of other services, such as take-out, drive-thru, and home delivery, that are ideally adapted to today's lifestyle. All such factors are expected to propel the growth of the QSR segment in the forecast period.

In terms of region, Asia-Pacific is the one, which is expected to maintain the first position in terms of market share. It is also expected to contribute to almost 40% of the total market of 2026, followed by North America and Europe.

Today, the foodservice market has become an attractive destination for investments and several large multinational companies are entering this market. Some of the major companies are Compass Group PLC, McDonald's Corporation, Performance Food Group Company, Sodexo Group, Aramark Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., Domino's Pizza, Inc., Inspire Brands, Inc., and Starbucks Corporation.

Years considered for this report:

Historical Years: 2016-2019

Base Year: 2020

Estimated Year: 2021

Forecast Period: 2022–2026

Objective of the Study:                                

  • To analyze the historical growth rate in market size of global foodservice market from 2016 to 2020.
  • To estimate and forecast the market size of global foodservice market from 2021 to 2026 and growth rate until 2026.
  • To classify and forecast global foodservice market based on by type, by ownership, by company, and by region.
  • To identify dominant region or segment in the global foodservice market.
  • To identify drivers and challenges for global foodservice market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global foodservice market.
  • To identify and analyze the profile of leading players operating in global foodservice market.
  • To identify key sustainable strategies adopted by market players in global foodservice market.


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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of food service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers and presence of all major players across the globe.

TechSci Research calculated the market size of the global foodservice market using a bottom-up approach, wherein data for the various end-user’s segment was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these types and ownership for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Service providers, distributors, and end-users
  • Market research and consulting firms
  • Government bodies such as regulating authorities and policymakers.
  • Organizations, forums, and alliances related to foodservice.

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. 

Report Scope:

In this report, global foodservice market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Global Foodservice Market, By Type:

o   Dining Services

o   Quick Service Restaurants (QSR)

o   Pubs, Bars, Cafe and Lounges (PBCL)

    • Others (Cafeteria, Ghost Kitchens, Catering and Vending Companies)

·         Global Foodservice Market, By Ownership:

    • Independent Outlets
    • Chained Outlets

·         Global Foodservice Market, By Region:

    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Australia
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • France
      • United Kingdom
      • Italy
      • Germany
      • Russia
    • Middle East and Africa
      • Turkey
      • Egypt
      • South Africa
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global foodservice market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Table of content

1.     Service Overview

2.     Research Methodology

3.     Executive Summary

4.     Voice of Customer

4.1.  Factors Affecting Purchase Decision

4.2.  Source of Information

5.     Global Foodservice Market Outlook, 2016-2026F

5.1.   Market Size and Forecast

5.1.1. By Value

5.2.   Market Share and Forecast

5.2.1. By Type (Dining Services, QSR, PBCL, and Others)

5.2.2. By Ownership (Independent Outlets vs. Chained Outlets)

5.2.3. By Region

5.2.4. By Company (2020)

5.3.  Market Map (By Type, By Region)

6.     Asia-Pacific Foodservice Market Outlook, 2016-2026F

6.1.   Market Size and Forecast

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Type

6.2.2. By Ownership

6.2.3. By Country

6.3.   Asia-Pacific: Country Analysis

6.3.1. China Foodservice Market Outlook, 2016-2026F

6.3.1.1.         Market Size and Forecast

6.3.1.1.1.              By Value

6.3.1.2.         Market Share and Forecast

6.3.1.2.1.              By Type

6.3.1.2.2.              By Ownership

6.3.2. India Foodservice Market Outlook, 2016-2026F

6.3.2.1.         Market Size and Forecast

6.3.2.1.1.              By Value

6.3.2.2.         Market Share and Forecast

6.3.2.2.1.              By Type

6.3.2.2.2.              By Ownership

6.3.3. Japan Foodservice Market Outlook, 2016-2026F

6.3.3.1.         Market Size and Forecast

6.3.3.1.1.              By Value

6.3.3.2.         Market Share and Forecast

6.3.3.2.1.              By Type

6.3.3.2.2.              By Ownership

6.3.4. South Korea Foodservice Market Outlook, 2016-2026F

6.3.4.1.         Market Size and Forecast

6.3.4.1.1.              By Value

6.3.4.2.         Market Share and Forecast

6.3.4.2.1.              By Type

6.3.4.2.2.              By Ownership

6.3.5. Australia Foodservice Market Outlook, 2016-2026F

6.3.5.1.         Market Size and Forecast

6.3.5.1.1.              By Value

6.3.5.2.         Market Share and Forecast

6.3.5.2.1.              By Type

6.3.5.2.2.              By Ownership

7.     North America Foodservice Market Outlook, 2016-2026F

7.1.   Market Size and Forecast

7.1.1. By Value

7.2.   Market Share & Forecast

7.2.1. By Type

7.2.2. By Ownership

7.2.3. By Country

7.3.   North America: Country Analysis

7.3.1. United States Foodservice Market Outlook, 2016-2026F

7.3.1.1.         Market Size and Forecast

7.3.1.1.1.              By Value

7.3.1.2.         Market Share and Forecast

7.3.1.2.1.              By Type

7.3.1.2.2.              By Ownership

7.3.2. Canada Foodservice Market Outlook, 2016-2026F

7.3.2.1.         Market Size and Forecast

7.3.2.1.1.              By Value

7.3.2.2.         Market Share and Forecast

7.3.2.2.1.              By Type

7.3.2.2.2.              By Ownership

7.3.3. Mexico Foodservice Market Outlook, 2016-2026F

7.3.3.1.         Market Size and Forecast

7.3.3.1.1.              By Value

7.3.3.2.         Market Share and Forecast

7.3.3.2.1.              By Type

7.3.3.2.2.              By Ownership

8.     Europe Foodservice Market Outlook, 2016-2026F

8.1.   Market Size and Forecast

8.1.1. By Value

8.2.   Market Share & Forecast

8.2.1. By Type

8.2.2. By Ownership

8.2.3. By Country

8.3.   Europe: Country Analysis

8.3.1. France Foodservice Market Outlook, 2016-2026F

8.3.1.1.         Market Size and Forecast

8.3.1.1.1.              By Value

8.3.1.2.         Market Share and Forecast

8.3.1.2.1.              By Type

8.3.1.2.2.              By Ownership

8.3.2. United Kingdom Foodservice Market Outlook, 2016-2026F

8.3.2.1.         Market Size and Forecast

8.3.2.1.1.              By Value

8.3.2.2.         Market Share and Forecast

8.3.2.2.1.              By Type

8.3.2.2.2.              By Ownership

8.3.3. Italy Foodservice Market Outlook, 2016-2026F

8.3.3.1.         Market Size and Forecast

8.3.3.1.1.              By Value

8.3.3.2.         Market Share and Forecast

8.3.3.2.1.              By Type

8.3.3.2.2.              By Ownership

8.3.4. Germany Foodservice Market Outlook, 2016-2026F

8.3.4.1.         Market Size and Forecast

8.3.4.1.1.              By Value

8.3.4.2.         Market Share and Forecast

8.3.4.2.1.              By Type

8.3.4.2.2.              By Ownership

8.3.5. Russia Foodservice Market Outlook, 2016-2026F

8.3.5.1.         Market Size and Forecast

8.3.5.1.1.              By Value

8.3.5.2.         Market Share and Forecast

8.3.5.2.1.              By Type

8.3.5.2.2.              By Ownership

9.     Middle East & Africa Foodservice Market Outlook, 2016-2026F

9.1.    Market Size and Forecast

9.1.1. By Value

9.2.    Market Share & Forecast

9.2.1. By Type

9.2.2. By Ownership

9.2.3. By Country

9.3.    Middle East & Africa: Country Analysis

9.3.1. Turkey Foodservice Market Outlook, 2016-2026F

9.3.1.1.         Market Size and Forecast

9.3.1.1.1.              By Value

9.3.1.2.         Market Share and Forecast

9.3.1.2.1.              By Type

9.3.1.2.2.              By Ownership

9.3.2. Egypt Foodservice Market Outlook, 2016-2026F

9.3.2.1.         Market Size and Forecast

9.3.2.1.1.              By Value

9.3.2.2.         Market Share and Forecast

9.3.2.2.1.              By Type

9.3.2.2.2.              By Ownership

9.3.3. South Africa Foodservice Market Outlook, 2016-2026F

9.3.3.1.         Market Size and Forecast

9.3.3.1.1.              By Value

9.3.3.2.         Market Share and Forecast

9.3.3.2.1.              By Type

9.3.3.2.2.              By Ownership

9.3.4. UAE Foodservice Market Outlook, 2016-2026F

9.3.4.1.         Market Size and Forecast

9.3.4.1.1.              By Value

9.3.4.2.         Market Share and Forecast

9.3.4.2.1.              By Type

9.3.4.2.2.              By Ownership

10.  South America Foodservice Market Outlook, 2016-2026F

10.1.  Market Size and Forecast

10.1.1.   By Value

10.2.Market Share & Forecast

10.2.1.   By Type

10.2.2.   By Ownership

10.2.3.   By Country

10.3. South America: Country Analysis

10.3.1.   Brazil Foodservice Market Outlook, 2016-2026F

10.3.1.1.       Market Size and Forecast

10.3.1.1.1.           By Value

10.3.1.2.       Market Share and Forecast

10.3.1.2.1.           By Type

10.3.1.2.2.           By Ownership

10.3.2.   Argentina Foodservice Market Outlook, 2016-2026F

10.3.2.1.       Market Size and Forecast

10.3.2.1.1.           By Value

10.3.2.2.       Market Share and Forecast

10.3.2.2.1.           By Type

10.3.2.2.2.           By Ownership

10.3.3.   Colombia Foodservice Market Outlook, 2016-2026F

10.3.3.1.       Market Size and Forecast

10.3.3.1.1.           By Value

10.3.3.2.       Market Share and Forecast

10.3.3.2.1.           By Type

10.3.3.2.2.           By Ownership

11.  Market Dynamics

11.1.  Drivers

11.2. Challenges

12.  Market Trends and Developments

13.  Impact of COVID-19 on Global Foodservice Market

14.  Competitive Landscape

14.1.  Compass Group PLC

14.2.  McDonald's Corporation

14.3.  Performance Food Group Company

14.4.  Sodexo Group

14.5.  Aramark Corporation

14.6.  Starbucks Corporation

14.7.  Restaurant Brands International Inc.

14.8.  Yum! Brands, Inc.

14.9.  Domino's Pizza, Inc.

14.10. Inspire Brands, Inc.

15.  Strategic Recommendations

16.  About Us and Disclaimer

Figures and Tables

List of Figures

Figure 1:           Global Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 2:           Global Population (Million), 2015-2019

Figure 3:           Global Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 4:           Global Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 5:           Global Foodservice Market Share, By Region, By Value, 2020 & 2026F

Figure 6:           Global Foodservice Market Share, By Company, By Value, 2020

Figure 7:           Global Foodservice Market Map, By Type, Market Size (USD Billion) & Growth Rate (%), 2020

Figure 8:           Global Foodservice Market Map, By Region, Market Size (USD Billion) & Growth Rate (%), 2020

Figure 9:           Asia-Pacific Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 10:         Asia-Pacific Country-wise Population (Million) for the year 2019

Figure 11:         Asia-Pacific Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 12:         Asia-Pacific Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 13:         Asia-Pacific Foodservice Market Share, By Country, By Value, 2016-2026F

Figure 14:         China Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 15:         China GDP at Current Price (USD Billion), 2015-2020

Figure 16:         China Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 17:         China Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 18:         India Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 19:         India GDP at Current Price (USD Billion), 2015-2020

Figure 20:         India Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 21:         India Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 22:         Japan Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 23:         Japan GDP at Current Price (USD Billion), 2015-2019

Figure 24:         Japan Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 25:         Japan Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 26:         South Korea Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 27:         South Korea GDP at Current Price (USD Billion), 2015-2020

Figure 28:         South Korea Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 29:         South Korea Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 30:         Australia Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 31:         Australia GDP at Current Price (USD Billion), 2015-2020

Figure 32:         Australia Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 33:         Australia Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 34:         North America Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 35:         North America Country-wise Population (Million) for the year 2019

Figure 36:         North America Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 37:         North America Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 38:         North America Foodservice Market Share, By Country, By Value, 2016-2026F

Figure 39:         United States Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 40:         United States GDP at Current Price (USD Billion), 2015-2020

Figure 41:         United States Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 42:         United States Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 43:         Canada Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 44:         Canada GDP at Current Price (USD Billion), 2015-2020

Figure 45:         Canada Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 46:         Canada Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 47:         Mexico Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 48:         Mexico GDP at Current Price (USD Billion), 2015-2020

Figure 49:         Mexico Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 50:         Mexico Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 51:         Europe Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 52:         Europe Country-wise Population (Million) for the year 2019

Figure 53:         Europe Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 54:         Europe Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 55:         Europe Foodservice Market Share, By Country, By Value, 2016-2026F

Figure 56:         France Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 57:         France GDP at Current Price (USD Billion), 2015-2020

Figure 58:         France Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 59:         France Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 60:         United Kingdom Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 61:         United Kingdom GDP at Current Price (USD Billion), 2015-2020

Figure 62:         United Kingdom Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 63:         United Kingdom Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 64:         Italy Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 65:         Italy GDP at Current Price (USD Billion), 2015-2020

Figure 66:         Italy Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 67:         Italy Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 68:         Germany Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 69:         Germany GDP at Current Price (USD Billion), 2015-2020

Figure 70:         Germany Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 71:         Germany Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 72:         Russia Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 73:         Russia GDP at Current Price (USD Billion), 2015-2020

Figure 74:         Russia Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 75:         Russia Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 76:         Middle East & Africa Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 77:         Middle East & Africa Country-wise Population (Million) for the year 2019

Figure 78:         Middle East & Africa Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 79:         Middle East & Africa Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 80:         Middle East & Africa Foodservice Market Share, By Country, By Value, 2016-2026F

Figure 81:         Turkey Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 82:         Turkey GDP at Current Price (USD Billion), 2015-2020

Figure 83:         Turkey Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 84:         Turkey Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 85:         Egypt Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 86:         Egypt GDP at Current Price (USD Billion), 2015-2020

Figure 87:         Egypt Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 88:         Egypt Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 89:         South Africa Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 90:         South Africa GDP at Current Price (USD Billion), 2015-2020

Figure 91:         South Africa Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 92:         South Africa Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 93:         UAE Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 94:         UAE GDP at Current Price (USD Billion), 2015-2019

Figure 95:         UAE Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 96:         UAE Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 97:         South America Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 98:         South America Country-wise Population (Million) for the year 2019

Figure 99:         South America Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 100:        South America Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 101:        South America Foodservice Market Share, By Country, By Value, 2016-2026F

Figure 102:        Brazil Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 103:        Brazil GDP at Current Price (USD Billion), 2015-2020

Figure 104:        Brazil Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 105:        Brazil Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 106:        Argentina Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 107:        Argentina GDP at Current Price (USD Billion), 2015-2020

Figure 108:        Argentina Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 109:        Argentina Foodservice Market Share, By Ownership, By Value, 2016-2026F

Figure 110:        Colombia Foodservice Market Size, By Value (USD Billion), 2016-2026F

Figure 111:        Colombia GDP at Current Price (USD Billion), 2015-2020

Figure 112:        Colombia Foodservice Market Share, By Type, By Value, 2016-2026F

Figure 113:        Colombia Foodservice Market Share, By Ownership, By Value, 2016-2026F

Frequently asked questions

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Coronavirus (COVID-19) pandemic has caused a huge damage to the foodservice industry. Due to the lockdowns imposed to curtail the spread of the disease, various restaurants, fast food centers were forced to shut down temporarily. Difficulty was faced by the people dealing in foodservice sectors as there was mismanagement of operations, supply chain, recreation of business models, digitalization, and other unanticipated impacts.

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Major Companies operating in the global foodservice market are Compass Group PLC, McDonald's Corporation, Performance Food Group Company, Sodexo Group, Aramark Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., Domino's Pizza, Inc., Inspire Brands, Inc., and Starbucks Corporation.

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Increasing preference for cafes and quick service restaurants among the urban population is one of the driving factors for the foodservice market. The factors like an increasing number of working women, due to which there has been a significant reduction in the practice of preparing homemade food, increasing disposable incomes, improving distribution channels and varieties of food products that are offered such as launch of low-fat drinks, gluten-free products are further driving the market.

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Asia-Pacific accounted for the largest share of the market, as the region has the largest portion of the young population combined with increase in the number of restaurants. Moreover, due to the increasing preference of people to eat outside, the value of services provided by the restaurants has improvised, which has also contributed to the growth of the market in the region.

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