Food And Beverage Services Market Revenue, Promotions, Hospitality Industry, Procedures, Categories And Forecast 2023-2032|Compass group plc, Starbucks, Sodexo, Aramark corporation, McDonald's

Spread the love

The Food And Beverage Services Global Market Report 2023 by The Business Research Company, provides food and beverage services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

Learn More On The Food And Beverage Services Market:

https://www.thebusinessresearchcompany.com/report/food-and-beverage-services-global-market-report

According to The Business Research Company’s Food And Beverage Services Global Market Report 2023, the market grew from $3,559.94 billion in 2022 to $3,763.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market is expected to grow to $4,651.03 billion in 2027 at a CAGR of 5.4%.

The food and beverage services market is expected to benefit from the rising digitalization of food services. Consumers are increasingly preferring to order food online for home delivery.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample_request?id=5466&type=smp

The food and beverage services market is segmented:

1) By Type: Restaurants And Mobile Food Services, Bars And Cafes, Catering Services And Food Contractors

2) By Ownership: Chain Market, Standalone Market

3) By Pricing: High-End, Economy

3) By Service: Online, Offline

Modernizing technologies in restaurants improves customer satisfaction, thereby boosting restaurant sales. Establishments in the industry are introducing self-ordering touchscreen kiosks, mobile apps for customizable orders and quick payment, and digital entertainment such as gaming. For instance, in 2020, McDonald’s, a US-based fast food company, created a team focused on digital customer engagement as the restaurant industry continues to look to technology as a key way to boost sales. The new team is part of the fast-food company’s ambition to leverage technology to reach out to customers and increase sales. As part of that endeavor, McDonald’s has installed digital self-order kiosks in its restaurants, expanded meal delivery, and made tech-focused investments.

The food and beverage services market report table of contents includes: