The Business Research Company’s Food And Beverage Services Global Market Report 2021: COVID-19 Impact And Recovery
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According to the new market research report ‘Food And Beverage Services Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the food and beverage services market is expected to grow from $2.76 trillion in 2020 to $3.27 trillion in 2021 at a compound annual growth rate (CAGR) of 18.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The food and beverage service market is expected to reach $4.17 trillion in 2025 at a CAGR of 6%. The food and beverage market is expected to benefit from rising digitalization of food services.
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The food and beverage services market consists of sales of food and beverage services and related goods by entities (organizations, sole traders and partnerships) that provide meals, snacks, and beverages to customer order for immediate on-premises and off-premises consumption.
Trends In The Global Food And Beverage Services Market
Modernizing technologies in restaurants improves customer satisfaction, thereby boosting restaurant sales. Many restaurants have recently begun introducing tablets on their tabletops to automate the process of ordering food as well as tipping. Apart from improving the overall dining experience, it also provides valuable data for restaurants. For example, Chili’s, an American casual dining restaurant chain, made a big change to its in-store ordering system by installing more than 45,000 tablets across 823 Chili’s restaurants. Bars and nightclubs are also increasingly offering technology-driven solutions and services. Establishments in the industry are introducing self-ordering touchscreen kiosks, mobile apps for customizable orders and quick payment and digital entertainment such as gaming.
Global Food And Beverage Services Market Segments:
The global food and beverage service market is further segmented:
By Type: Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors
By Ownership: Chain Market, Standalone Market
By Pricing: High-End, Economy
Subsegments Covered: Full-Service Restaurants, Limited-Service Restaurants, Cafeterias, Grill Buffets, And Buffets, Mobile Food Services, Snack And Nonalcoholic Beverage Bars, Drinking Places (Alcoholic Beverages), Food Service Contractors, Catering Services
By Geography: The global F&B services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific food and beverage services market accounts for the largest share in the global food and beverage services market.
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Food And Beverage Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides food and beverage services market overviews, analyzes and forecasts market size and growth for the global food and beverage services global market, food and beverage services market share, food and beverage services market players, food and beverage services market segments and geographies, food and beverage services market’s leading competitors’ revenues, profiles and market shares. The food and beverage services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Food And Beverage Services Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Food And Beverage Services Market Organizations Covered: Compass Group PLC; McDonald’s; Starbucks; Marriott International; Subway.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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Here is a list of reports from The Business Research Company similar to the Food And Beverage Services Global Market Report 2021:
Catering Services And Food Contractors Global Market Report 2021: COVID-19 Impact And Recovery
Hospitality Market: Opportunities And Strategies – Global Forecast To 2022
Restaurants And Mobile Food Services Global Market Report 2021: COVID-19 Impact And Recovery
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