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 …
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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 …