Global Foodservice Sector Overview and Channel Outlook

Global Foodservice Sector Overview and Channel Outlook

Summary

"Global Foodservice Sector Overview and Channel Outlook", reports forecasts for market growth for foodservice channels across regions for 2021-2025.

The COVID-19 pandemic induced a global slowdown, resulting in a decline of $1,229.4bn across the foodservice industry in 2020. When 2020 absolute values are compared to 2019 absolute values, the sector's decline is 53.9%. Asia, the largest foodservice market, experienced the biggest decline in terms of absolute value in 2020 and accounted for 39% of global losses, followed by 24.6% in Western Europe and 16.8% in North America.

Scope

• Asia, the largest foodservice market, witnessed the highest decline at $497.3bn in 2020 vs 2019
• Across all Asian channels, travel outlook is expected to grow faster with a CAGR of 14.9% for the period 2020-2025
• The US, China, and Japan are the top three foodservice markets globally
• South African foodservice sales to be further impacted due new lockdown measures
• After the slump in 2020, the channel is forecast to register a CAGR of 12.10% during 2020-2025

Reasons to Buy

• Gain a broader appreciation of the foodservice industry by gaining insights from both within and outside of your channels.
• Identify where the market is going and how foodservice channels are predicted to recover from the impact of COVID-19 in 2021-2022.
• Understand the scope of market growth for various foodservice channels across geographic regions over the next five years.