Chained Consumer Foodservice Market to Surpass US$ 1.31 Billion at 3.5% CAGR by 2034, States Fact.MR
Huge Popularity of Door-to-Door Food Delivery Services Driving Chained Consumer Foodservice Market Growth
Rockville , Feb. 19, 2024 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, in its newly published study, reveals that the global *Chained Consumer Foodservice Market* is estimated at US$ 931.5 million in 2024. Revenue from chained consumer foodservice establishments is forecasted to reach US$ 1.31 billion by the end of 2034.
Growing urbanization along with an increasing number of working professionals is projected to boost revenue from chained consumer foodservice establishments. Further, the trend of dual-income households among various countries is forecasted to lead to the growing inclination to chained consumer foodservice. People with busy schedules are turning to chain restaurants for their dining requirements, which is estimated to contribute to market growth.
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*Key Segments of **Chained Consumer Foodservice Market **Research Report *
*By Outlet Type* *By Service Type* *By Location* *By Region*
· Cafes/Bars
· Full-service Restaurants
· Fast Food
· 100% Home Delivery/Takeaway
· Self-service Cafeterias
· Street Stalls/Kiosks
· Conventional
· Ready-prepared
· Commissary
· Assembly
· Serve Foodservice
· Standalone
· Retail
· Travel
· Leisure
· Hotels
· North America
· Europe
· Latin America
· East Asia
· South Asia & Oceania
· Middle East & AfricaRising trend of dining out as one of the popular social activities is projected to lead to the growth of the chained consumer foodservice market. More individuals are opting to dine out with their family and friends, therefore creating opportunities for respective chains to offer an attractive ambiance. Expansion of the tourism industry is also contributing to market growth as travelers prefer popular and familiar chain restaurants, offering a sense of comfort and consistent quality.
*Key Takeaways from Market Study *
· The global chained consumer foodservice market is estimated at US$ 931.5 million in 2024.
· The global market is projected to reach valuation of US$ 1.31 billion by the end of 2034, expanding at 3.5% CAGR from 2024 to 2034.
· East Asia is projected to account for 25.2% share of the market by the end of 2034.
· The South Korean market is projected to expand at a CAGR of 4.9% from 2024 to 2034.
· Cafes/bars are estimated to account for 22.14% share of the global market by 2034-end.
*“Changing Lifestyles, busier schedules with increased urbanization, and rising consumer awareness about quick-service restaurants are driving the growth of the chained consumer foodservice market,” *says a Fact.MR analyst.
*Market in China Benefitting from Popular Fast Food Culture *
Revenue from chained consumer foodservice outlets in China is projected to increase at a CAGR of 4% and reach a value of US$ 239.4 million by the end of 2034. The increasing preference for chained consumer foodservice outlets is linked to the rising fondness for fast food culture, particularly among the younger generations, including millennials and Generation Z.
*Key Market Players *
Leading chained consumer foodservice providers are Compass Group PLC, Yum! Brands, Inc., Starbucks Corporation, Darden Restaurants, Inc., Aramark Corporation, Chipotle Mexican Grill, Inc., Brinker International Inc., Restaurant Brands International Inc., Panera Bread Company, Inc., McDonalds Corp., Dunkin’ Brands Group PLC, Steven & I Holdings Co. Ltd., Wendy’s Co., Domino’s Pizza, In-N-Out Burgers, and Papa Murphy’s International LLC.
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*Report Attribute* *Details*
Value Projection (2034) US$ 1.31 Billion
Growth Rate (2024-2034) 3.5% CAGR
No. of pages 170 Pages
No. of Tables 84 Tables
No. of Figures 112 Figures
*
Shifts in Dining Trends Shape East Asia and North America Foodservice Markets by 2034*
According to a research analysis by Fact.MR, a leading provider of market research and competitive intelligence, East Asia is expected to capture a substantial 25.2% share of the global market by 2034. This dominance is attributed to evolving dietary habits and rapid urbanization, leading to increased dining out frequency and subsequent revenue growth in chained consumer foodservice establishments.
In North America, the United States is projected to command a significant 76.5% share of the market by 2034. Changing consumer preferences, particularly among the younger demographic, are fueling demand for convenience and experiential dining. To meet these preferences, consumer foodservice chains, including both chain and fast food establishments, are offering diverse cuisine options and customizable menus.
Meanwhile, China is anticipated to claim a substantial 72.5% share of the East Asia market by the end of 2034. The country's sizable population base and thriving food service sector provide ample opportunities for industry players. Additionally, the growing adoption of fast food culture among Chinese consumers is expected to further propel market growth.
*More Valuable Insights* *on Offer *
Fact.MR, in its new offering, presents an unbiased analysis of the chained consumer foodservice market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on outlet type (cafes/bars, full-service restaurants, fast food, 100% home delivery/takeaway, self-service cafeterias, street stalls/kiosks), service type (conventional, ready-prepared, commissary, assembly, serve foodservice), and location (standalone, retail, travel, leisure, hotels), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
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