Global Foodservice Market 2017-2021 - Major Drivers are Innovation and Customization of Food Menus
19 Oct, 2017, 21:00 BST
DUBLIN, October 19, 2017 /PRNewswire/ --
The "Global Foodservice Market 2017-2021" report has been added to Research and Markets' offering.
The global foodservice market to grow at a CAGR of 4.98% during the period 2017-2021.
The report covers the present scenario and the growth prospects of global foodservice market for 2017-2021. To calculate the market size, the report considers the revenue generated from sales of food and beverages sold through commercial and non-commercial foodservice sectors globally. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Innovative packaging. Innovative packaging is very important in the foodservice market. Consumers often opt for takeaway because of their busy schedules and changing lifestyles. However, the selection of takeaway options completely depends on convenient food packaging options available at different outlets to maintain the freshness of food. Innovative packaging has a strong impact on consumer purchasing behavior
According to the report, one of the major drivers for this market is Innovation and customization of food menus. Consumers worldwide are looking for new flavors, foods with bold flavors, and premium alternatives. As consumers' taste preferences are evolving, they are demanding more exotic cuisines. Millennials, aged 20-34 years, are demonstrating an inclination toward innovative and exotic flavored fast food. They seek options that allow them to customize their food based on their taste and calorie intake per day.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in food commodity prices. The global foodservice market is highly dependent on fluctuating food commodity prices. Raw materials that include sugar, grains, meat, salt, and dairy products are very important in the global foodservice market. Any shortage in the supply of raw materials affects the market growth. A shortage mainly occurs because of adverse weather conditions and natural calamities. Bad weather conditions can affect crop production. For instance, wheat requires warm conditions to grow. However, the temperature requirements change at various stages of its growth. Climate disparities can negatively affect the volume and quality of production.
Key vendors
- Aramark
- Compass Group North America
- Domino's
- McDonald's
- Restaurant Brands International
- Sodexo
- Starbucks
- Yum!Brands
Other prominent vendors
- Abela
- American Dairy Queen
- SONIC AMERICA'S DRIVE-IN BRAND PROPERTIES
- Arby's
- Autogrill
- AVI Foodsystems
- Ben E Keith
- BON APPTIT MANAGEMENT COMPANY
- Brock & Company
- CulinArt
- CARL'S JR. RESTAURANTS
- Cajun Operating Company
- Del Taco
- Dicos
- In-N-Out Burger
- JACK IN THE BOX
- Jollibee Foods
- MOS FOOD SERVICES
- Mr. Lee's
- Papa John's International
- Services Group of America
- Telepizza Espaa
- The Little Caesars
- Truitt Bros
- Whataburger
- White Castle Management
Key Topics Covered:
- Executive Summary
- Scope Of The Report
- Research Methodology
- Introduction
- Market Landscape
- Market Segmentation By Sector
- Market Segmentation By Foodservice System
- Market Growth Opportunity Assessment For Key Foodservice Sectors
- Geographical Segmentation
- Key Leading Countries
- Decision Framework
- Drivers And Challenges
- Market Trends
- Competitive Analysis
- Appendix
For more information about this report visit https://www.researchandmarkets.com/research/sbdp87/global
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