Food Service Industry The global food service industry is experiencing a significant transformation, driven by shifting consumer preferences, technological advancements, and evolving dining habits. With the industry valued at US$ 3,483,539.5 million in 2023 and projected to reach US$ 5,704,966.8 million by 2033, investors are presented with lucrative opportunities for growth and expansion. Key trends shaping …
Tag Archives: food service industry Industry forecast
Increasing consumer preference for convenience and growing disposable income are driving demand for fast food and takeout options
The global food service industry size is likely to jump from US$ 3,483,539.5 million in 2023 to US$ 5,704,966.8 million by 2033. This projected expansion is anticipated to expand at a 5.3% CAGR in the demand for food services over the upcoming decade. Well-known companies such as KFC, McDonald’s, and Domino’s dominate the global fast-food market, which …