Restaurant and Food Services Industry: Market Research Reports, Statistics and Analysis

Key Market Segments

• The world restaurant industry generated nearly $1.6 trillion in revenue in 2010, reports MarketLine. Cafés and restaurants generated almost $571 billion, exceeding 36% of the overall market. Marked growth is expected to slow to 3% yearly through 2015 to almost $1.8 trillion by the close of 2015. The restaurant market segment covers sales of food, soft drinks and alcoholic drinks through cafés, restaurants, catering, drinking places and fast-food retail outlets.

• The world fast-food industry is expected to generate almost $240 billion in 2014, according to MarketLine, representing a 19% increase over five years. The market is predicted to reach a volume of almost 249 billion transactions in 2014. Quick-service restaurants represent the leading market segment, at 71% of overall market value. The Americas represent almost half of the global market.

• The global mobile food services industry is expected to surpass $2.5 billion by 2017, reports Global Industry Analysts. Street stalls represent the market’s largest outlet segment for consumer foodservice. Market drivers include demand for quick, inexpensive, convenient food and evolving consumer tastes open to an array of new cuisines. The US, EU and Asia-Pacific combine to dominate the market. Consumers looking for cheaper alternatives to sit-in restaurants due to the world recession are responding to the less-expensive option of food trucks. Similarly, chefs and entrepreneurs without the necessary start-up capital to open restaurants are able to offer their food services in mobile form. 

Regional Market Share

• The US fast food industry is expected to record yearly growth of 4% through 2014, according to RNCOS. The US remains one of the world’s dominant nations in the global fast-food market even during the economic recession. The market is driven by a growing young population and an expanding middle class with rising disposable income. Fast-food sector growth is outpacing restaurant industry growth in the US. Leading companies have invested heavily in promoting their products, further fuelling expansion. Burgers represent the largest market segment, followed by other products such as pizza, pasta, sandwiches and snacks.

• The EU foodservice market generated total revenue of over $146 billion in 2009, according to MarketLine. Yearly market growth was at almost 5% for the four preceding years.

Market Outlook

The global foodservice sector continues to feel the pressures of the economic recession, unstable food and energy prices, a fragile housing sector, and depleted consumer confidence. Industry players continue to focus on brand differentiation and value-added products to attract consumers.

Fast food outlets are revamping their menus to diversify their product offerings and respond to growing demand for healthy eating options due to growing awareness of health issues, such as heart disease and diabetes. Other outlets, like grocery stores and restaurants, are trying to encroach on the fast food market by offering take-away options to customers. Ethnic cuisine demand will continue to grow, providing a huge market for Asian fast food, with sushi and Chinese food proving particularly popular.

Leading Industry Associations

• National Restaurant Association www.restaurant.org
• British Hospitality Association www.bha.org.uk
• Nationwide Caterers Association www.ncass.org.uk
• European Modern Restaurant Association www.emrarestaurants.com
• International Foodservice Manufacturers Association www.ifmaworld.com