LONDON–(BUSINESS WIRE)–Technavio has been monitoring the food service market in APAC and it is poised to grow by USD 344.23 bn during 2020-2024, progressing at a CAGR of over 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions:
What are the major trends in the market?
Changing lifestyles and the rise in purchasing power is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 8.29% and the incremental growth of the market is anticipated to be $ 344.23 bn.
Who are the top players in the market?
Barista Coffee Co. Ltd., Del Taco Restaurants Inc., Domino’s Pizza Inc., McDonald’s Corp., Papa John’s International Inc., Restaurant Brands International Inc., Seven & i Holdings Co. Ltd., Starbucks Corp., The Wendy’s Co., and Yum! Brands Inc., are some of the major market participants.
What is the key market driver?
The rise in the demand for convenient food is one of the major factors driving the market.
How big is the China market?
The China region will contribute 64% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Barista Coffee Co. Ltd., Del Taco Restaurants Inc., Domino’s Pizza Inc., McDonald’s Corp., Papa John’s International Inc., Restaurant Brands International Inc., Seven & i Holdings Co. Ltd., Starbucks Corp., The Wendy’s Co., and Yum! Brands Inc. are some of the major market participants. The rise in the demand for convenient food will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Food service market in APAC 2020-2024: Segmentation
Food service market in APAC is segmented as below:
- Food Sales
- Beverage Sales
- Delivery And Take Away
- Fast Foods
- Geographic Landscape
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Food service market in APAC 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The food service market in APAC report covers the following areas:
- Food service market in APAC Size
- Food service market in APAC Trends
- Food service market in APAC Industry Analysis
This study identifies changing lifestyles and the rise in purchasing power as one of the prime reasons driving the food service market growth in APAC during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Food service market in APAC 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist food service market growth in APAC during the next five years
- Estimation of the food service market size in APAC and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the food service market in APAC
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of food service market vendors in APAC
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- Food sales – Market size and forecast 2019-2024
- Beverage sales – Market size and forecast 2019-2024
- Market opportunity by Product
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- Restaurants – Market size and forecast 2019-2024
- Delivery and takeaway – Market size and forecast 2019-2024
- Fast foods – Market size and forecast 2019-2024
- Cafés/bars – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- China – Market size and forecast 2019-2024
- Rest of APAC – Market size and forecast 2019-2024
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Barista Coffee Co. Ltd.
- Del Taco Restaurants Inc.
- Domino’s Pizza Inc.
- McDonald’s Corp.
- Papa John’s International Inc.
- Restaurant Brands International Inc.
- Seven & i Holdings Co. Ltd.
- Starbucks Corp.
- The Wendy’s Co.
- Yum! Brands Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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