The
report finds that companies in the global market for foodservice are
keen to increase their consumer base. In order to do so, many are
purveying their products via supermarkets at ultra-competitive
prices. Another popular technique with savvy companies, wanting to
drive up sales, is setting up of restaurants and bars in snooker,
pool, and air hockey clubs.
As
per the United States Department of Agriculture (USDA), the food
system, including foodservice and food retailing, provided food in
the U.S. worth about US$1.24 tn in 2010. From that, almost US$594 bn
was provided by foodservice facilities. The different end use
segments in the global market for foodservice are restaurants,
schools, colleges, cafeterias, etc. The demand for various kinds of
foods among consumers, the growing trend of eating out, and the
convenience accorded by these services explains the rising
consumption of meals and snacks at food service establishments. In
order to further their sales, companies are also coming up with
healthy options to win over discerning customers who are concerned
about their health.
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The
four kinds of foodservice systems listed in the report are
centralized, conventional, assembly service, and ready meals. Among
them, the conventional foodservice systems are the most prevalent.
The rising number of schools, colleges, restaurants, and universities
are providing a fillip to the foodservice systems market worldwide.
One
factor posing a drawback to the global market for foodservice systems
is the compliance standards imposed by the public health service
departments in the food sector to make sure there is no compromise on
the quality front. This often drives up costs for companies operating
in the market as it requires additional investment in trained
professionals and machines to maintain a certain standard in hygiene.
From
a geographical standpoint, North America holds a leading position in
the global market for foodservice systems due to being home to
maximum number of restaurants and food chains and also because a
large number of high-value transactions and mergers that has taken
place in the past couple of years. Western Europe, powered by
Germany, France, Italy, the U.K., and Spain, trails North America in
terms of market share.
Some
of the key players operating in the global market for foodservices
that have been profiled in the report are Sodexo, Guest Services,
Aramark Corporation, Compass Group North America, and Centerplate.
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