2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Major Innovations Are Driving the Accelerated Growth of the Food Services And Drinking Places Market?

The growth in food courts and shopping malls is projected to boost the food services and drinking places market. These venues are expanding as customers seek diverse and convenient dining options in one location. In March 2023, SingStat reported a year-on-year increase across all food and beverage sectors, with food caterers seeing 80.1% growth, restaurants 16.4%, cafes and food courts 13.2%, and fast food 11.1%. These trends are propelling the food services and drinking places market.

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How Will the Growth Rate of theFood Services And Drinking Places Market Impact Industry Trends by 2034?

The food services and drinking places market size has grown rapidly in recent years. It will grow from $2684.74 billion in 2024 to $2967.84 billion in 2025 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to rising disposable income, changing consumer lifestyles, increased tourism, growing diversity in cuisine preferences, and the proliferation of food service chains.

The food services and drinking places market is projected to reach $4369.58 billion by 2029, growing at a CAGR of 10.2%. The growth is driven by increasing health consciousness, plant-based diets, technological innovations, unique dining experiences, and sustainability. Trends include contactless payment systems, AI integration for customer service, food delivery platform expansion, and zero-waste practices.

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What Are the Most Significant Market Trends Transforming theFood Services And Drinking Places Market?

Companies in the food services and drinking places market are developing integrated solutions like one-stop-shop service hubs for restaurants. Zomato, an India-based company, launched such a service hub in July 2024 to help quick-service restaurants streamline operations. This hub offers assistance with FSSAI and GST registration, trademark registration, and other services, enhancing the overall efficiency of restaurant management.

What Are the Top Market Players Propelling the Growth of theFood Services And Drinking Places Industry?

Major companies operating in the food services and drinking places market are Sysco Corporation, Performance Food Group, US Foods Holding Corp., Starbucks Corporation, Compass Group plc, Sodexo Group, McDonald’s Corporation, Subway IP LLC, Gordon Food Service, Chipotle Mexican Grill Inc., Elior Group SA, Ben E. Keith Company, Shamrock Foods Company, Delaware North, Chefs’ Warehouse, Reinhart Foodservice LLC, Metz Culinary Management Inc., AVI Foodsystems Inc., Thompson Hospitality Corporation, Guckenheimer (ISS), Valley Services Inc., Creative Dining Services, Guest Services Inc., Bon Appétit Management Company, Centerplate Inc., Unidine Corporation, Brock & Company Inc.

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Which Primary Segments of the Food Services And Drinking Places Market Are Driving Growth and Industry Transformations?

The food services and drinking placesmarket covered in this report is segmented –

1) By Type: Restaurants And Mobile Food Services, Bars And Cafes, Catering Services, Food Contractors

2) By Pricing: High-End, Economy

3) By Service: Online, Offline

4) By Ownership: Chain Market, Standalone Market

Subsegments:

1) By Restaurants And Mobile Food Services: Full-Service Restaurants, Fast Food And Quick Service Restaurants (QSR), Casual Dining Restaurants, Fine Dining Restaurants, Food Trucks And Mobile Carts, Buffets And All-You-Can-Eat Services, Ethnic And Specialty Cuisine Restaurants, Ghost Kitchens And Delivery-Only Restaurants

2) By Bars and Cafes: Traditional Bars and Pubs, Cocktail Bars and Lounges, Coffee Shops and Cafes, Brewpubs and Microbreweries, Wine Bars, Sports Bars and Nightclubs, Tea Houses and Specialty Beverage Cafes

3) By Catering Services: Event Catering, Institutional Catering, Corporate and Office Catering, Food Service for Large Gatherings, Specialized Catering, Mobile Catering

4) By Food Contractors: Contract Food Services for Businesses, Food Management Services, Institutional and Industrial Catering, Food and Beverage Contractors for Remote Locations, School and University Food Contractors, Healthcare Facility Food Contractors

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Which Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Food Services And Drinking Places Market?# Market?

North America was the largest region in the food services and drinking places market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food services and drinking places market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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