The Business Research Company’s latest report Food And Beverage Services Global Market Report 2020 covers Food And Beverage Services market drivers, Food And Beverage Services market trends, Food And Beverage Services market segments, Food And Beverage Services market growth rate, Food And Beverage Services market major players, and Food And Beverage Services market size. The report provides in-depth analysis of the impact of COVID-19 on the Food And Beverage Services industry, along with revised market numbers due to the effects of the coronavirus.
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Food And Beverage Services Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global food and beverage services market is expected to decline from $3606.1 billion in 2019 to $3503.3 billion in 2020 at a compound annual growth rate (CAGR) of -2.9%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 8% from 2021 and reach $4290.1 billion in 2023.
The global food and beverage services market is segmented by type into restaurants and mobile food services, bars and cafes, catering services and food contractors, by ownership into chain market, standalone market, by pricing into high-end, economy. Subsegments covered are full-service restaurants, limited-service restaurants, cafeterias, grill buffets, and buffets, mobile food services, snack and nonalcoholic beverage bars, drinking places (alcoholic beverages), food service contractors, catering services.
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