Published on : Jul 25, 2016
ALBANY, New York, July 25, 2016: ResearchMoz.us has announced the addition of the “Foodservice Market in the US 2016-2020,” report to their offering. The report offers an in-depth analysis of the foodservice market in the U.S.A and a comprehensive study of the driving factors, constraints, opportunities, and trends in the market. The key players dealing in this vertical and their vital contributions in the market have also been presented in the study. The research report thus provides qualitative and quantitative insights into the food service market.
Foodservice is defined as the sale of food and beverages prepared outside homes. These services are gaining popularity in bars, cafeterias, hospitals, nightclubs, pubs, and hotels, and often have the options of on-spot consumption, takeaway, and home delivery. The demand for foodservices in the US is fuelled by the growing health-consciousness among the people, which has led to many reducing their calorie intake.
The report discusses the transformation the food service industry has undergone due to the changing lifestyles, consumer preferences, and demographic shifts. For instance, there is a growing use of foodservices in offices and educational institutions, as office workers and students prefer to buy meals rather than cooking them at home. Based on the report, the foodservice market in the United States is expected to grow at a CAGR of more than 3% from 2016 to 2020. The report suggests steady growth in the coming years due to growth in the demand for customized food menus including fresh ingredients.
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In the report, the foodservice market has been broadly divided into the commercial and non-commercial segments. The commercial segment dominated the US foodservice market and represented approximately 75% of the foodservice market in the US in 2015. This segment includes bars, fast food or quick service restaurants, full-service restaurants, hotels, and pubs. Non-commercial foodservices are primarily nonprofit, but may support the establishment of commercial counterparts and include educational institutes, hospitals, and workplaces.
The report presents various market drivers, challenges, and trends in the market. The dynamic growth registered in the popularity of quick-serving and casual restaurants, coupled with the busy and hectic schedules of the working population, is one of the key driving forces behind the foodservice industry in the US. Despite the growing popularity of foodservices, a serious threat to food safety has been witnessed. According to the report, the safety and healthiness of packaged food still remain under question. However, the vendors are engaging more resources towards the research and development of healthy and gluten-free food.
The US foodservice market is highly fragmented and heterogeneous because of the presence of numerous small and large suppliers competing on different markers such as pricing, packaging, quality, caloric values, and menu variations.
According to the report, the high level of competition in the market may cut down the prices of the products, but may also reduce the profit margin for companies. The report mentions various key players such as Aramark, Burger King, Compass Group, McDonald’s, Starbucks, and YUM! Brands. Other prominent vendors in the market are AmeriQual Group, AVI Foodsystems, Atlas Food Systems and Services, Basic American Foods, B&G Foods, Ben E. Keith, BiRite Foodservice Distributors, Bon Appétit Management, Brock, Centerplate, Baldwin Richardson Foods, CulinArt, Gordon Food Service, Delaware North Companies, Kraft Foods, Thompson Hospitality, Subway, Sodexo, and Wendy’s.
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