The report titled “Foodservice Top 5 Emerging Markets Industry Guide 2017”, provides a comprehensive analysis of foodservice industry in the five emerging markets. This report covers topics related to need for foodservice industry, healthy food supply, various programs adopted for growth in market revenue, global leading players, growth in matured markets, five emerging markets in foodservice sector, growing opportunities and future of foodservice market.
Industry Overview: The increasing demand for healthy and nutritious food on the menus is the major factor that has a positive impact on the growth of the foodservice market. Consumers are more health conscious due to the increasing occurrences of obesity and heart problems. Unhealthy or fatty food products are avoided by the consumer which has led to numerous commercial and non-commercial foodservice outlets to introduce healthy food in their menus. The healthy foods include half or full-size salads with fresh fruits and vegetables. Such an initiative has driven the growth of the foodservice market across the world. All the foodservice markets across the world consist of many small and large vendors who compete to raise their revenue shares. The foodservice market players are adopting various strategies based on price, quality of menu, variety of cuisines, loyalty programs, product innovations, and packing.
Global Major Players in Foodservice Industry: The global leading players in the foodservice sector are Aramark, Compass Group North America, Domino’s, McDonald’s, Restaurant Brands International, Sodexo, Starbucks, and Yum!Brands. The foodservice sector is categorized into commercial and non-commercial, where commercial segment accounts for the major shares of the foodservice market. Foodservice consists of all services such as preparation of food out-of-home intended for consumption on premise or as a takeaway. Foodservice is spread across places such as restaurants, cafes, home delivery, eateries, and diners. The major factors affecting the foodservice market are the emerging trends, demand-supply gaps, and changing customer preferences.
The foodservice sector witnesses a continuing growth in more mature markets, thereby, presenting more and more opportunities for food manufacturers. Asia and the Middle East are fuelling the growth of the foodservice market along with Europe and North America. South Africa, Brazil, China, India and Mexico are the emerging five countries in foodservice markets globally. It was expected that there will be a continuing growth over the coming years. China is the leading country among the top five emerging nations in the foodservice industry, followed by Brazil and India with equal growth and opportunities.
Way Forward in Foodservice Industry: Today’s foodservice business has evolved beyond traditional restaurants and cafeterias. Foodservice is a global industry with a massive growth in the next few years. Foodservice among the retailers is growing strong and non-traditional sources like recipe boxes, food halls and food trucks are all increasingly part of the foodservice market overview. Majority of the foodservice manufacturers in the emerging countries strategically target new opportunities as they grow in the coming years.
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Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com