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Foodservice Market in the US to Grow by USD 157.03 Billion During 2021-2025|2.50% Year-Over-Year Growth in 2021|Technavio

·5 min read

NEW YORK, March 17, 2021 /PRNewswire/ -- The foodservice market in the US is expected to grow by USD 157.03 billion during 2021-2025, expanding at a CAGR of over 4%. The report also throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

The foodservice market size in US is expected to grow by USD 157.03 billion and record a CAGR of 4.11% during 2021-2025.
The foodservice market size in US is expected to grow by USD 157.03 billion and record a CAGR of 4.11% during 2021-2025.

The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.

Download FREE Sample Report

Foodservice Market in the US: Increased snacking and indulgence consumption to drive growth

Food consumption patterns and preferences have undergone a notable change, as many consumers are replacing their routine meals with on-the-go snacks and light meals. Fast-paced lifestyles often compel consumers to skip their meals and consume on-the-go food. Similarly, the consumption of bakery products, such as doughnuts, bread, rolls, pies, and other similar products for breakfast, has surged in the US. The nutritional level of such products can be strengthened by using different kinds of bread, such as whole wheat or multigrain, and healthy ingredients. A large percentage of consumers prefer premium and prepared snacks and are open to trying new and different flavors. Consequently, the demand for snacking at cafes and bars has increased significantly in the US.

Is there any relief during this COVID pandemic?
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As per Technavio, the increasing demand for allergen-free dining will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2025.

Foodservice Market In the US: Increasing demand for allergen-free dining.

There is a significant rise in eating establishments in the US. Due to this factor, restaurants are coming up with new menus to cater to the special food needs of people, such as gluten- and other-allergen-free menus. It is also observed that people who are allergic to gluten tend to visit such eateries repeatedly and become loyal customers. Furthermore, most times, gluten-free foods are prepared carefully in hygienic kitchens in a bid to prevent cross-contamination. The demands for gluten-free restaurants and eateries are increasing from different consumer quarters, especially from people affected with celiac disease. Thus, allergen-free dining will fuel the foodservice market in the US during the forecast period.

"The consumption of bakery products and steady growth in demand for premium food varieties will further boost market growth during the forecast period", says a senior analyst at Technavio.

Foodservice Market In the US: Major Vendors

  • Chick-fil-A Inc.

  • Doctors Associates LLC

  • Dunkin Brands Group Inc.

  • McDonald Corp.

  • Restaurant Brands International Inc.

Foodservice Market In the US: Segmentation Analysis

This market research report segments the foodservice market in the US by type (Fast foodservice, Restaurant, Cafés and Bars, Delivery and take away, and Others) and foodservice system (Conventional, Centralized, Ready-prepared, and Assembly-serve).

The US region led the foodservice market in the US in 2021, followed by respectively. During the forecast period, the US region is expected to register the highest incremental growth due to factors such as changing lifestyles of consumers.

Technavio's sample reports are free of charge and Gain competitive intelligence about market players. Track key industry trends, opportunities, and threats. Inform your marketing, brand, strategy, and market development.

Download FREE Sample Report

Related Reports on Consumer Discretionary Include:

Global Fast-Food Market- The fast-food market is segmented by product (non-vegetarian fast food and vegetarian fast food) and geography (North America, APAC, Europe, South America, and MEA).

To get extensive research insights: Download FREE Sample Report

Global Fast Casual Restaurants Market- The fast-casual restaurants market is segmented by cuisine type (North American, Italian, Mexican, and others) and Geography (North America, APAC, Europe, South America, and MEA).

To get extensive research insights: Download FREE Sample Report

Some of the key topics covered in the report include:

Market Challenges

Market Drivers

Market Trends

Vendor Landscape

  • Vendors covered

  • Vendor classification

  • Market positioning of vendors

  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
Report Page: https://www.technavio.com/report/foodservice-market-in-us-industry-analysis

Technavio (PRNewsfoto/Technavio)
Technavio (PRNewsfoto/Technavio)
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View original content to download multimedia:http://www.prnewswire.com/news-releases/foodservice-market-in-the-us-to-grow-by-usd-157-03-billion-during-2021-20252-50-year-over-year-growth-in-2021technavio-301247965.html

SOURCE Technavio

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