With a market size valued at $4.1 trillion by 2026, it is a healthy prospect for the global restaurant industry market

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Editing: 17; Published: February 2022
Executive Pool: 4102
Companies: 200 – Players covered include Applebees Services, Inc.; ARAMARK Company; Arby’s Restaurant Group, Inc.; Autogrill SpA; Brinker International, Inc.; Burger King Holdings, Inc.; CKE Restaurants, Inc.; Compass Group PLC; Darden Restaurants, Inc.; Delaware North Companies, Inc.; Denny’s Corp.; Domino’s Pizza Inc.; Eddie Rockets (IRL) Ltd. ; Gate Gourmet Inc; IHOP Corp. ; International Dairy Queen, Inc.; Johnsonville Sausage LLC; JOLLIBEE FOODS CORP. ; Sky Chiefs KJV; McDonald’s Corporation; Mitchells & Butlers Plc; Quiznos Sub; Skylark Co., Ltd. ; Sodexo SA; SONIC Corp.; Starbucks Corporation; Wendy’s International, Inc.; Whitbread PLC; Yum! Marks, Inc and others.
Blanket: All major geographies and key segments
segments: Type of restaurant (full service, fast food, limited service, other types of restaurants); End use (commercial, non-commercial)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.

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ABSTRACT-

Global catering industry market to reach US$4.1 trillion by 2026
Catering consists of manufacturing, serving and selling ready-to-eat food and beverages or providing catering services to public or private end consumers by internal or external operators. As such, catering accounts for approximately 45% to 50% of total food spend in the United States, while the percentage in less developed markets can be in the range of 10% to 15% or less of total spend. in food. The main contributors to the growth of the sector are socio-economic conditions, such as high disposable income, busy and increased mobile life, increased outsourcing of non-essential activities by companies and the expansion of the market in new areas such as transportation and retail. Other factors that may influence the market include tourism, immigration, food variety, access to food outlets, and advancements in technology like the internet through online ordering. Major growth in the catering industry is expected as catering operators are encouraged to invest more in environmentally friendly and energy efficient equipment to meet changing needs. Although the ongoing COVID-19 pandemic has affected the operations of the entire restaurant industry, including that of fast food establishments and QSRs, the long-term outlook remains positive, offering considerable opportunities for the catering market.

Amid COVID-19 crisis, Global Industrial Catering Market Estimated at US$3.4 trillion in 2022, is expected to reach a revised size of US$4.1 trillion by 2026, growing at a CAGR of 5.4% over the analysis period. Full Service, one of the segments analyzed in the report, is expected to grow at a CAGR of 5.5% to reach US$1.5 trillion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the fast food segment is readjusted to a revised CAGR of 6.5% for the next 7-year period. This segment currently accounts for a 28.1% share of the global restaurant industry market. Full-Service Restaurants (FSRs) are joining the take-out train. A growing number of FSRs are offering takeout. Additionally, restaurants are developing new menus for takeout rather than offering the menu onsite in the takeout segment. Quick service restaurants (QSR), also known as fast food restaurants, are establishments that serve fast food and have minimal table service. Convenient and economical foods as well as time and cost savings are fueling the growth of the QSR market. The rapid growth of online delivery and home delivery markets, driven by growing consumer desire to have food delivered to their homes, is also driving growth.

The US market is estimated at $840.8 billion in 2022, when China is expected to reach $776.9 billion by 2026
The restaurant industry market in the United States is estimated at US$840.8 billion in 2022. The country currently accounts for a 25.1% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$776.9 billion in 2026 with a CAGR of 7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.1% and 4.3% respectively over the analysis period. In Europe, Germany is expected to grow at around 4.2% CAGR while the rest of the European market (as defined in the study) will reach US$825.7 billion at the end of the analysis period. Asia Pacific The region is experiencing a rapid growth of international fast food chains and the emergence of several local or national QSRs. Although the ongoing COVID-19 pandemic has affected the operations of the entire restaurant industry, including that of fast food establishments and QSRs, the long-term outlook remains positive, offering considerable opportunities for the catering equipment market.

Limited service segment to reach $864.6 billion by 2026
Quick-service restaurants, also known as limited-service restaurants, primarily include self-service fast food restaurants, cafes, and sandwich shops. Examples of quick service restaurants include McDonald’s, Pizza Hut, KFC, Starbucks, Burger King, and Subway, among others. In the global limited service segment, United States, Canada, Japan, China and Europe will drive the CAGR of 3.4% estimated for this segment. These regional markets representing a combined market size of US$517.9 billion will reach a projected size of US$664.2 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$116.9 billion by 2026, while Latin America will increase at a CAGR of 4% over the analysis period. Continued

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