USD 2540.05 Billion
Food Service Market Size, Share, and Growth Analysis
Food Service Market By Restaurant Type (Street Food, Cafes, Bars, Quick and Full service restaurants), By Category (Independent, Chains), By Sector (Commercial, Non-commercial), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG25Q2005 |
Region:
Global |
Published Date: December, 2024
Pages:
157
|Tables:
61
|Figures:
75
Format -
Food Service Market Insights
Food Service Market size was valued at USD 2540.05 Billion in 2023 and is poised to grow from USD 2813.36 Billion in 2024 to USD 5753.54 Billion by 2032, growing at a CAGR of 10.76% during the forecast period (2025-2032).
Rapid urbanization is driving the demand for food services, with urban areas having a higher concentration of restaurants, cafes, and other food outlets. Busy lifestyles, especially in urban areas, are leading to an increase in demand for convenience foods, boosting the foodservice sector. The integration of technology, such as online ordering, delivery apps, and digital payment systems, has made food services more accessible, enhancing global food service market growth.
The globalization of food cultures is leading to the introduction of international cuisines in local markets, driving the growth of foodservice businesses. Developing countries, particularly in Asia and Africa, present significant growth opportunities due to their large populations and rising middle-class incomes. Leveraging technology to enhance customer experience, streamline operations, and reduce costs offers a substantial growth opportunity for foodservice providers.
Digital transformation is especially evident in the burgeoning food delivery segment. The pandemic accelerated the shift towards delivery services, with many consumers now preferring to enjoy their favourite meals at home rather than dining out. This global food service market trend is expected to persist, highlighting the necessity for foodservice operators to establish strong partnerships with delivery platforms while also considering the development of in-house delivery systems.
Changing consumer behaviour is one of the foremost drivers in the foodservice market. Today’s consumers are increasingly health-conscious, seeking out dining options that align with their desire for nutritious, ethically sourced food. With a rise in awareness about health and wellness, restaurants and foodservice providers are under pressure to adapt their menus to focus on fresh ingredients, lean proteins, plant-based options, and transparency about sourcing.
US Food Service Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Independent Food Service
Fastest Growth
Food Service Chains
Growth Rate
10.76% CAGR
Global Food Service Market ($ Bn)
Country Share for North America Region (%)
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Food Service Market Segments Analysis
The global food service market is segmented by Restaurant Type, by Category, by Sector and by Region. Based on Restaurant Type, the market is segmented into street food, cafes and bars, quick service restaurants, full service restaurants. Based on Category, the market is segmented into independent, chains. Based on Sector, the market is segmented into commercial, non-commercial. Based on region, the food service market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Food Service Market Analysis by Offering
As per global food service market outlook, full service segment is dominating in the market and accounted for a share of 48.98% in 2024. Full-service restaurants typically offer a wide variety of dishes, catering to diverse tastes and dietary preferences. This diversity attracts a broad customer base, from families to business professionals. These restaurants focus on providing a complete dining experience, including ambiance, table service, and customer engagement. This emphasis on experience makes them a preferred choice for special occasions, social gatherings, and business meetings. The subsequent shift in the dine-out culture for formal events as well as informal gatherings during travel & tourism activities has increased the footfall in full service restaurants during the past few years.
As per global food service market analysis, quick service segment is expected to grow at a CAGR of 4.2% from 2025 to 2032. QSRs are designed to serve customers quickly, making them a preferred option for people with busy lifestyles. The demand for fast, convenient meals continues to rise as consumers seek quick dining solutions that fit into their hectic schedules. They typically offer meals at a lower price point compared to full-service restaurants, making them accessible to a broader audience, including students, families, and budget-conscious consumers. The surge in online food delivery platforms has significantly boosted the QSR segment. QSRs are well-suited for delivery due to their standardized menus and quick preparation times, making them a popular choice for consumers ordering food online.
Food Service Market Analysis by Category
The independent food service segment is dominating in the market and accounted for a revenue share of 71.52% in 2024. Independent food service establishments often have a strong connection to their local communities, catering to the unique tastes and preferences of local customers. Independent establishments are often seen as trendsetters in the foodservice industry, offering innovative and creative dishes that may not be found in chain restaurants. This uniqueness attracts food enthusiasts looking for distinctive dining experiences. Unlike standardized food service chains, independent operators such as standalone restaurants, cafes, and food trucks bring creativity and innovation to the market through distinctive menus, niche cuisines, and culturally inspired dishes.
Food service chains are expected to grow at a CAGR of 3.5% from 2025 to 2032. Food service chains are often at the forefront of adopting new technologies, such as mobile ordering apps, loyalty programs, and self-service kiosks. These innovations enhance customer convenience and engagement, driving sales growth. Chains continuously innovate their menus to stay relevant and cater to changing consumer preferences, such as healthier options, plant-based meals, and international flavors. This adaptability ensures they remain competitive and appealing to a broad audience. Food service chains play a pivotal role in the food service market by driving standardization, scalability, and consumer accessibility. These chains, which include quick-service restaurants (QSRs), casual dining outlets, and fine dining franchises, offer consistent quality, pricing, and service across multiple locations, building brand loyalty and trust among customers.
Global Food Service Market By Category (%)
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Food Service Market Regional Insights
The food service market in North America captured a revenue share of over 24.09% in the market. The North America region is one of the largest in the world, with the U.S. and Canada being major contributors. The market includes a wide array of foodservice establishments such as restaurants, cafes, fast-food outlets, catering services, and institutional food service. There is a growing demand for healthier menu options, including plant-based dishes, organic ingredients, and low-calorie meals. Food service providers are increasingly catering to health-conscious consumers by offering more nutritious and sustainably sourced options. Moreover, food quality and environmental sustainability are among the top priorities for North American consumers, hence the need for cooking and refrigeration.
As per the global food service market forecast, Asia Pacific is expected to witness a CAGR of 2.7% from 2025 to 2032. The quick-service restaurant (QSR) segment is expanding rapidly across the Asia Pacific region. The demand for convenient, affordable, and fast dining options is increasing, particularly in urban areas. Major global QSR brands like McDonald's, KFC, and Subway are continuously expanding their presence, while regional chains are also gaining popularity. QSRs are increasingly localizing their menus to cater to regional tastes and preferences. This includes offering items that incorporate local ingredients or flavours that appeal to the cultural palate of specific markets.
Global Food Service Market By Geography
- Largest
- Fastest
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Food Service Market Dynamics
Food Service Market Drivers
Rising Consumer Demand for Convenience
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The increasing consumer demand for convenience significantly drives the global food service market. As lifestyles become busier, customers prefer quick-service and ready-to-eat meals, prompting restaurants and food establishments to invest in efficient cooking and storage equipment. This global food service market trend enhances operational efficiency, enabling businesses to meet evolving consumer expectations.
Leaping Advancements in Specific Food Service Equipment
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The global commercial kitchen equipment market is influenced by technological progression, which is one of the major factors. Revolutionary concepts like intelligent kitchen tools, green kitchen appliances, and robots help increase efficiency and lower the cost of operations. Such developments improve food quality and safety for the customers and help businesses enable processes in order to satisfy customers of the modern age.
Food Service Market Restraints
High Initial Investment Costs
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High initial investment costs pose a significant restraint on the global food service market. The requirement to invest in sophisticated equipment might limit the competition of several small and medium-sized food service establishments. The inability to meet such demands also creates a challenge to the growth of the market. As a result, companies are more likely to opt for cheaper alternatives as opposed to more effective innovations.
Common Supply Chain Disruptions
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Factors such as global pandemics and wars contribute to the crisis in the supply chain which as a result hampers the growth of the global food service market. When the raw materials and parts are not available for use, the production time and cost can increase in a big manner. Such hitches affect manufacturers over capability to supply demanded goods which in the end affects the growth of the entire market.
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Food Service Market Competitive Landscape
The global food service industry has been characterized by the presence of several dominant, as well as developing players trying to gain a quantum share in the food service industry. Leading international players in the global food service equipment market include Welbilt, Inc., Middleby Corporation, Ali Group, Hoshizaki Corporation, and Electrolux Professional, all of whom are involved in innovation through cutting-edge technology and sustainability. These players are engaged in enhancing product quality, efficiency, and customer service owing to the rising needs of the food service industry which in turn is resulting to increased competition and growth of the market.
Top Players in the Global Food Service Market
- McDonald’s
- Starbucks
- Restaurant Brands International Inc.
- Coca-Cola
- Tim Hortons
- Dominos
- Supermac’s
- Jollibee
- Subway
- Compass Group
- Sodexo
- Aramark
- Elior Group
- Sysco Corporation
- Marriott International
- Yum! Brands Inc.
- Papa John's International Inc.
- Wendy's Company
- Food and Life Co. Ltd.
Recent Developments in Food Service Market
- In January 2024, Restaurant Brands International announced its intent to acquire all outstanding shares of Carrols Restaurant Group in a cash-only transaction. As the largest franchisee of Burger King in the United States, Carrols operates over 1,000 Burger King location and more than 50 Popeyes restaurants across 23 states nationwide.
- In September 2023, Fat Brands, a well-known player in the polished dining sector, announced the acquisition of Smokey Bones Bar & Fire Grill from Sun Capital Partners for USD 30 million. This strategic move is anticipated to significantly bolster Fat Brands' financial performance, with projections indicating an increase in EBITDA by approximately USD 10 million.
- In August 2023, Middleby Corporation revealed that it has acquired Vulcan, a company that provides commercial cooking equipment solutions. The objective of this acquisition is to bolster Middleby’s food service equipment range, thus enabling the company to provide different types of high standard cooking solutions in response to the changing demands of the industry.
Food Service Key Market Trends
- Increasing Demand for Sustainable Equipment: Sustainability and energy efficient supplies is an important trend in the global food service market. Stressed with the need to conserve energy and reduce waste, operators are opting for green equipment. This is in response to the world’s global sustainability efforts and the dining market’s shift towards more responsible and eco-friendly equipment resulting in better efficiency.
- Growth of Smart Kitchen Technologies: The merging of the smart consumer kitchen with food service equipment is another significant trend. Operations are being transformed with modern tools that have been tailored with IoT, automation and data analytics making it easier and faster for operations to run as well as providing food safety benefits. This development is an indication of the growing trends in the industry in regard to digitization and innovation to satisfy changing consumer needs.
Food Service Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest analysis, the market has rapidly evolved following the changing needs of clients for outfitting their kitchen spaces. Changing social customs coupled with technological progressions, have created a dynamic marketplace for the equipment used in the end-use sector. From the discovery of equipment for preparing and storing food, such as cooking stoves, ranges, and electrical refrigerators, to the availability of custom foodservice appliances to cook different cuisines, the range of technologically-advanced and innovative products has entered the market over the years and is expected to favor the market growth in the longer run. Furthermore, rapid technological advancements achieved with the help of continual Research & Development (R&D) activities have helped appliance manufacturers to offer technology-driven efficiencies to their clients. One of the major restraints in the food service market is the high operational costs associated with running a food service business.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 2540.05 Billion |
| Market size value in 2032 | USD 5753.54 Billion |
| Growth Rate | 10.76% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Food Service Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Food Service Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Food Service Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Food Service Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Food Service Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Food Service Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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