The global food away from home (FAFH) market size was valued at $4,266.3 billion in 2021 and is estimated to reach $5,848.7 billion by 2031, growing at a CAGR of 2.3% from 2022 to 2031.
The global food away from home market is experiencing exponential growth over the past decade as a result of the increased popularity of dining out culture. The substantial rise of quick-service restaurants and well-known fast-food franchises in developed and developing countries is primarily due to the eating-out culture. Major businesses or food brands are also implementing innovative marketing techniques that place a stronger emphasis on the menu to attract customers. Another thing that draws customers to fast food restaurants like McDonald's, KFC, and Domino's is cleanliness and hygiene. The market for meals consumed away from home is anticipated to experience growth as disposable income rises and quick-service restaurants and fast-casual restaurants become more prevalent in developing countries like India, China, Brazil, and Indonesia.
In 2021, North America held the greatest market share with 36.4%, while Asia-Pacific is predicted to expand due to the region's increasing demand for eating out and the expansion of well-known restaurant chains. There are many well-known restaurant chains in the U.S., such as Carrabba's Italian Grill, The Cheesecake Factory, Texas Roadhouse, McDonald's, KFC, and Olive Garden. Key factors influencing the growth of the North American FAFH market include the development of restaurant chains across the country, popularity of the dining-out lifestyle, high disposable income, and surge in use of online meal delivery services.
The rise in demand for fast food items like burgers, sandwiches, and pizza in emerging countries like China, India, and Australia is a significant factor that drives the growth of the FAFH industry in the Asia-Pacific region. The main cause for the same is the changing lifestyle in the region. A lot of small and midsize food manufacturing companies are increasing their investments in developing nations, which is boosting the growth of the industry. The high population density, consumer interests and preferences, and rise in number of fast food restaurants and trucks are the main factors driving the regional fast food business.
According to the food away from home market analysis, the market is segmented on the basis of delivery model, application, type of occasion, ownership type, and region. On the basis of delivery model, the market is segregated into dine in, take away, and home delivery. On the basis of application, the market is divided into restaurants, schools & colleges, hotels & motels, retail stores & vending, and others. The restaurants segment is further fragmented into full-service restaurants and limited-service restaurants. Further, on the basis of the type of occasion, the market is categorized into entertainment, travel, retail, and freestanding. By ownership type, the market is segmented into independent and chains. Region-wise, the food away from home market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, The Middle East, and Africa).
Chipotle Mexican Grill, Sysco Corporation, Yum Brands, Inc., Darden Concepts, Inc., Restaurant Brands International, Inc., Zensho Holdings Co., Ltd., SSP Group Plc, Jubilant FoodWorks Limited, Burger King Corporation, Cloud Kitchens, Bid Corporation, Aramark, SATS Ltd., Compass Group PLC, and Sodexo are the major companies profiled in the food away from home (FAFH) market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing food away from home market opportunities.
The global food away from home market is experiencing exponential growth over the past decade as a result of the increased popularity of dining out culture. The substantial rise of quick-service restaurants and well-known fast-food franchises in developed and developing countries is primarily due to the eating-out culture. Major businesses or food brands are also implementing innovative marketing techniques that place a stronger emphasis on the menu to attract customers. Another thing that draws customers to fast food restaurants like McDonald's, KFC, and Domino's is cleanliness and hygiene. The market for meals consumed away from home is anticipated to experience growth as disposable income rises and quick-service restaurants and fast-casual restaurants become more prevalent in developing countries like India, China, Brazil, and Indonesia.
In 2021, North America held the greatest market share with 36.4%, while Asia-Pacific is predicted to expand due to the region's increasing demand for eating out and the expansion of well-known restaurant chains. There are many well-known restaurant chains in the U.S., such as Carrabba's Italian Grill, The Cheesecake Factory, Texas Roadhouse, McDonald's, KFC, and Olive Garden. Key factors influencing the growth of the North American FAFH market include the development of restaurant chains across the country, popularity of the dining-out lifestyle, high disposable income, and surge in use of online meal delivery services.
The rise in demand for fast food items like burgers, sandwiches, and pizza in emerging countries like China, India, and Australia is a significant factor that drives the growth of the FAFH industry in the Asia-Pacific region. The main cause for the same is the changing lifestyle in the region. A lot of small and midsize food manufacturing companies are increasing their investments in developing nations, which is boosting the growth of the industry. The high population density, consumer interests and preferences, and rise in number of fast food restaurants and trucks are the main factors driving the regional fast food business.
According to the food away from home market analysis, the market is segmented on the basis of delivery model, application, type of occasion, ownership type, and region. On the basis of delivery model, the market is segregated into dine in, take away, and home delivery. On the basis of application, the market is divided into restaurants, schools & colleges, hotels & motels, retail stores & vending, and others. The restaurants segment is further fragmented into full-service restaurants and limited-service restaurants. Further, on the basis of the type of occasion, the market is categorized into entertainment, travel, retail, and freestanding. By ownership type, the market is segmented into independent and chains. Region-wise, the food away from home market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, The Middle East, and Africa).
Chipotle Mexican Grill, Sysco Corporation, Yum Brands, Inc., Darden Concepts, Inc., Restaurant Brands International, Inc., Zensho Holdings Co., Ltd., SSP Group Plc, Jubilant FoodWorks Limited, Burger King Corporation, Cloud Kitchens, Bid Corporation, Aramark, SATS Ltd., Compass Group PLC, and Sodexo are the major companies profiled in the food away from home (FAFH) market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing food away from home market opportunities.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the food away from home market analysis from 2021 to 2031 to identify the prevailing food away from home market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the food away from home market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global food away from home market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Delivery Model
- Dine in
- Take Away
- Home Delivery
By Application
- Restaurants
- Sub Type
- Full Service Restaurants
- Limited Service Restaurants
- Schools and Colleges
- Hotels and Motels
- Retail Stores and Vending
- Others
By Type of Occasion
- Entertainment
- Travel
- Retail
- Freestanding
By Ownership Type
- Independent
- Chains
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Argentina
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Sysco Corporation
- Chipotle Mexican Grill
- Darden Concepts, Inc
- Jubilant FoodWorks Limited
- Burger King Corporation
- SSP Group Plc
- Bid Corporation
- Zensho Holdings Co., Ltd
- Aramark
- Compass Group PLC
- SATS Ltd.
- Sodexo
- Yum Brands, Inc
- Restaurant Brands International Inc
- Cloud Kitchens
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: FOOD AWAY FROM HOME MARKET, BY DELIVERY MODEL
CHAPTER 5: FOOD AWAY FROM HOME MARKET, BY APPLICATION
CHAPTER 6: FOOD AWAY FROM HOME MARKET, BY TYPE OF OCCASION
CHAPTER 7: FOOD AWAY FROM HOME MARKET, BY OWNERSHIP TYPE
CHAPTER 8: FOOD AWAY FROM HOME MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report titled, “Food away from home Market," the food away from home market was valued at $4.3 trillion in 2021, and is estimated to reach $5848.7 billion by 2031, growing at a CAGR of 2.3% from 2022 to 2031.Food away from home means food prepared or cooked away from home but may be consumed at home or away from home. The global food away from home market is expected to grow significantly owing to the rapid adoption of digital technologies. The rise in investments in the development of food-tech platforms have led to the rapid growth of ghost kitchens, cloud kitchens, and food delivery platforms across the globe. According to the International Telecommunication Union (ITU), around 4.9 billion, or 63% of the global population had access to the internet in 2021. This meant that the number of internet users across the globe had increased by 17% since 2019. Furthermore, the rapidly growing user base of food delivery platforms such as Doordash, Foodpanda, Zomato, and Swiggy is significantly boosting the growth of the home delivery segment in the market. The millennials and Gen Z population across the globe are anticipated to be the key drivers of the home delivery segment.
The rapid increase in the female workforce is expected to drive the FAFH market growth owing to the busy schedule of both partners in a family which leads to a reduction in the time for cooking and buying vegetables. According to the report of the U.S. Bureau of Labor Statistics, women’s labor force participation was 57.4% in 2019, up from 57.1% in 2018. According to the report of the NITI (National Institution for Transforming India) Aayog, the share of female labor in the total labor force increased from 23.1 to 27.9% in two years from 2018-2020. Such a rise in the female workforce coupled with rapid urbanization is expected to drive the growth of the FAFH market during the forecast period since more female workforce causes more time-poor consumers which is one of the main reasons for the growing demand for food away from home.
Globalization has brought the world closer. The Internet, television shows, magazines, and newspapers are the main factors that have made people aware of different cultures. When people get to know about the food of different regions, curiosity about tasting the food emerges. This results in the demand for new cuisines. Cuisines like Thai food and Chinese food have been a great success globally. Over the past few years, the food service sector has witnessed significant demand and is expected to witness exponential growth, owing to a high percentage of the young and working population with rising disposable income. While food manufacturers are continuously promoting health benefits-oriented food products among customers in North America and Europe, Asia-Pacific, as well as Middle East countries, have developed an appetite for indulgence. Asia-Pacific has witnessed a significant rise in demand for various types of food products such as pizzas, and burgers, among others.
According to the food away from home market analysis, the market is segmented on the basis of delivery model, application, type of occasion, ownership type, and region. On the basis of the delivery model, the market is segregated into dine in, take away, and home delivery. On the basis of application, it is divided into restaurants, schools and colleges, hotels and motels, retail stores and vending, and others. The restaurants segment is further fragmented into full service restaurants and limited service restaurants. Further, on the basis of the type of occasion, the market is categorized into entertainment, travel, retail, and freestanding. On the basis of ownership type, the market is segmented into independent and chains. Region-wise, the food away from home market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, The Middle East, and Africa).
Chipotle Mexican Grill, Sysco Corporation, Yum Brands, Inc., Darden Concepts, Inc., Restaurant Brands International, Inc., Zensho Holdings Co., Ltd., SSP Group Plc, Jubilant FoodWorks Limited, Burger King Corporation, Cloud Kitchens, Bid Corporation, Aramark, SATS Ltd., Compass Group PLC, and Sodexo are the major companies profiled in the food away from home (FAFH) market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain a competitive edge and exploit the prevailing food away from home market opportunities.
Key Findings of the Study
- The global food away from home (FAFH) market size was valued at $4,266.3 billion in 2021 and is estimated to reach $5,848.7 billion by 2031, growing at a CAGR of 2.3% from 2022 to 2031.
- By delivery model, the home delivery segment is estimated to witness the fastest growth, registering a CAGR of 3.5% during the forecast period.
- By application, the restaurants segment was valued at $3,136.4 billion in 2021.
- By region, the U.S. was the most prominent market in North America in 2021 and is projected to reach $1,126.8 billion by 2031, growing at a CAGR of 1.9% during the forecast period.
Companies Mentioned
- Sysco Corporation
- Chipotle Mexican Grill
- Darden Concepts, Inc
- Jubilant FoodWorks Limited
- Burger King Corporation
- SSP Group Plc
- Bid Corporation
- Zensho Holdings Co., Ltd
- Aramark
- Compass Group PLC
- SATS Ltd.
- Sodexo
- Yum Brands, Inc
- Restaurant Brands International Inc
- Cloud Kitchens
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 385 |
| Published | February 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 4266.3 billion |
| Forecasted Market Value ( USD | $ 5848.7 billion |
| Compound Annual Growth Rate | 3.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
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