The size of the global food service market reached 2.52 trillion U.S. dollars in 2021. This figure was forecast to grow to 4.43 trillion U.S. dollars in 2028, showing a CAGR of 9.9 percent from 2021 to 2028.

Global Restaurants And Mobile Food Services market size is expected to reach $4285.96 billion by 2029 at 5.9%, segmented as by type, full-service restaurants, limited-service restaurants, cafeterias, grill buffets, and buffets, mobile food services

According to Cognitive Market Research, The Global Food Service Market size is USD 2601.5 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 11.00% from 2023 to 2030.

The demand for Food Service Market is rising due to the rise in outdoor and adventure activities.
Changing consumer lifestyle trends are higher in the Food Service market.
The ready prepared foodservice system category held the highest Food Service Market revenue share in 2023.
Asia Pacific Food Service will continue to lead, whereas the North America Food Service Market will experience the most substantial growth until 2030.

Rise in Outdoor and Adventure Activities to Provide Viable Market Output

The increasing popularity of outdoor and adventure activities is poised to be a significant catalyst for a robust market output in the Food Service segment. As more individuals embrace outdoor lifestyles, engaging in camping, hiking, and road trips, the demand for portable refrigeration solutions has witnessed a notable surge. Food Services, designed to offer on-the-go cooling for food and beverages, aligns seamlessly with adventure enthusiasts seeking convenient and efficient ways to preserve perishables during their travels. The rise in outdoor activities, coupled with a growing culture of exploration and adventure travel, positions the Food Service market as an essential companion for those seeking independence and self-sufficiency in their outdoor experiences. This trend is expected to drive sustained market growth, with manufacturers likely to focus on innovations that cater specifically to the demands of this expanding consumer base.

For instance, in July 2023, McDonald’s demonstrated consistently Strong Results. The success could be attributed to various factors such as effective business strategies, innovative product offerings, strong customer loyalty, or successful international expansion.

(Source:corporate.mcdonalds.com/corpmcd/our-stories/article/Q2-2023-earnings.html)

Changing Consumer Lifestyles to Propel Market Growth

The food service market is expected to experience growth propelled by changing consumer lifestyles. Evolving societal dynamics, such as busier schedules, an increased focus on convenience, and a rising preference for dining experiences, are driving shifts in consumer behavior. This has led to a surge in demand for quick-service restaurants (QSRs), food delivery services, and innovative dining options. Additionally, there is a growing emphasis on health and wellness, influencing consumers to seek out nutritious and sustainable food choices. The industry is responding by adapting menus, incorporating diverse and health-conscious options, and leveraging technology for efficient ordering and delivery services. As consumer lifestyles continue to evolve, the food service market is poised for expansion, with opportunities for businesses that can cater to the changing preferences and demands of today's dynamic consumer base.

For instance, in April 2021, Crothall Healthcare And Nuvolo partnered to Launch the Next Generation Cloud Platform For Healthcare Clinical Engineering Program Management. Leveraging Nuvolo's expertise in cloud-based enterprise asset management and Crothall Healthcare's extensive experience in healthcare services, the collaboration seeks to address the complex challenges of managing medical equipment and devices efficiently.

(Source:www.compass-usa.com/crothall-healthcare-and-nuvolo-partner-to-launch-next-generation-cloud-platform-for-healthcare-clinical-engineering-program-management/)

Market Dynamics of Food Service

Energy Consumption Concerns to Restrict Market Growth

The food service market may face constraints in its growth trajectory due to increasing concerns about energy consumption. As sustainability becomes a central focus across industries, including the food service sector, there is a heightened awareness of the environmental impact of food production, distribution, and preparation. Energy-intensive operations in commercial kitchens, transportation of food supplies, and refrigeration processes contribute to a significant carbon footprint. Stringent regulations and consumer preferences for eco-friendly practices are likely to drive the need for energy-efficient solutions and sustainable practices in the food service industry. Businesses that can navigate and mitigate these concerns by adopting ene...

This statistic shows the global market size of the restaurant industry in select counties in 2016. The market size of restaurant industry in the United States was around 782 billion U.S. dollars.

The size of the global food service equipment market reached 23.65 billion U.S. dollars in 2020. This figure was forecast to reach 53.78 billion U.S. dollars in 2030, showing a CAGR of 8.9 percent from 2021 to 2030.

The Global Quick Service Restaurant Market Report Analyzes Market Trends Across Segments Including Cuisine (Bakeries, Burgers, Ice Cream, Meat-Based Cuisines, Pizza, and Other QSR Cuisine), Structure (Chained Outlets and Independent Outlets), and Geography (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The Report Provides Market Size and Values in USD for all Segments During the Forecast Period.

Food Service Restaurant Market Outlook

The global food service restaurant market size was valued at approximately $3.5 trillion in 2023 and is anticipated to reach nearly $5.5 trillion by 2032, exhibiting a compelling compound annual growth rate (CAGR) of 5.2% during the forecast period. The market's robust growth is driven by several factors including evolving consumer lifestyles, increasing urbanization, and the rising inclination towards dining out as a leisure activity. The growing disposable incomes, especially in emerging economies, have provided a significant impetus to the market as consumers increasingly seek diverse and convenient dining options. Additionally, technological advancements and innovative service models have further bolstered market expansion, offering enhanced customer experiences and operational efficiencies.

One of the primary growth drivers in the food service restaurant market is the rapid urbanization and the consequent lifestyle changes observed globally. As more people migrate to urban areas, their eating habits evolve, with a marked preference for convenience and diverse culinary experiences. This shift has led to an increased demand for both quick service and full-service food outlets. Moreover, the rise in dual-income households has resulted in time constraints when it comes to meal preparation at home, leading to a surge in dining out and food delivery services. The convenience factor has become a significant determinant for consumers, who value the variety, speed, and accessibility offered by modern food service restaurants.

Another crucial factor contributing to the market's growth is the integration of technology into the food service sector. Restaurants are increasingly adopting digital solutions, from online ordering systems and mobile apps to contactless payment options, which streamline operations and enhance customer experience. This digital transformation not only improves service efficiency but also caters to the tech-savvy younger generation, driving higher sales and customer retention. Furthermore, the use of data analytics enables restaurants to better understand consumer preferences and trends, allowing for personalized service offerings and targeted marketing strategies. The role of social media in shaping consumer choices and influencing food trends cannot be overstated, further propelling market growth.

The shift towards healthier eating habits and the growing popularity of sustainable and locally sourced food options are also pivotal in driving market growth. Consumers are increasingly conscious of their food choices, leading to a demand for organic, vegan, and farm-to-table dining experiences. This trend has compelled restaurants to diversify their menus and incorporate health-oriented offerings, which not only attracts health-conscious consumers but also enhances brand loyalty. Additionally, the rise of food tourism and the growing interest in experiencing regional and international cuisines have spurred the expansion of diverse food service outlets around the world, contributing significantly to market growth.

The emergence of Fully Automatic Restaurants is revolutionizing the food service industry by integrating advanced technology to enhance operational efficiency and customer satisfaction. These establishments utilize cutting-edge automation systems, including robotic chefs and automated ordering kiosks, to streamline the dining experience. By minimizing human intervention, fully automatic restaurants offer a unique blend of speed and precision, catering to the growing demand for quick and convenient dining solutions. This innovative approach not only reduces wait times but also ensures consistent food quality, appealing to tech-savvy consumers who seek novelty and efficiency in their dining experiences. As the trend gains traction, it is expected to reshape the competitive landscape, prompting traditional restaurants to explore automation as a means to stay relevant and competitive.

Regionally, Asia Pacific is anticipated to witness the highest growth in the food service restaurant market, driven by large and fast-growing economies such as China and India. The increasing urban population, rising disposable incomes, and a growing middle class in these countries are major contributing factors. North America and Europe also hold significant market shares due to the established food service industry and high consumer spending on dining out. In contrast,

The size and share of this market is categorized based on Type (Cloud Based, Web Based) and Application (Restaurants, Other Food Service Sector) and geographical regions (North America, Europe, Asia-Pacific, South America, Middle-East and Africa).

The size and share of the market is categorized based on Type (On-premise, Managed, Cloud-based) and Application (Hypermarket & Supermarket, Food & Drink Specialists, Convenience Stores, Restaurants) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

According to Cognitive Market Research, the global Full Service Restaurants market size is USD 471512.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 3.40% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 188604.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 1.6% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 141453.66 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 108447.81 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 23575.61 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031.
Middle East and Africa held the major market ofaround 2% of the global revenue with a market size of USD 9430.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.1% from 2024 to 2031.
The standalone restaurants held the highest Full Service Restaurants market revenue share in 2024.

Market Dynamics of Full Service Restaurants Market

Key Drivers of Full Service Restaurants Market

Growing Demand for Dining Experiences to Increase the Demand Globally

The full-service restaurant market is driven by the increasing demand for dining experiences, where consumers seek not only delicious food but also ambiance, service quality, and overall dining experience. Consumers often choose full-service restaurants for special occasions, social gatherings, or simply to enjoy a relaxing meal outside their homes. As disposable incomes rise and lifestyles become more hectic, consumers are willing to spend on dining out experiences, contributing to the growth of the full-service restaurant market. Additionally, the trend towards experiential dining, where restaurants offer unique themes, entertainment, or immersive dining experiences, further enhances the appeal of full-service restaurants and drives customer footfall.

Changing Consumer Preferences and Dietary Trends to Propel Market Growth

Another key driver in the full-service restaurant market is the evolving consumer preferences and dietary trends. With increasing health consciousness and awareness about nutrition, consumers are seeking healthier dining options and are more inclined towards restaurants that offer diverse menu choices, including vegetarian, vegan, gluten-free, and organic options. Full-service restaurants that adapt to these changing preferences by offering healthier menu items and transparent ingredient sourcing are likely to attract a wider customer base and stay competitive in the market. Moreover, the growing demand for ethnic cuisines, fusion dishes, and innovative culinary concepts also drives the growth of full-service restaurants, as consumers seek unique and authentic dining experiences that cater to their diverse tastes and preferences.

Restraint Factors Of Full Service Restaurants Market

Labour Shortages and Rising Operational Costs to Limit the Sales

One of the key restraints faced by the full-service restaurant market is labour shortages and the associated rise in operational costs. As the demand for dining experiences grows, full-service restaurants require a skilled workforce to deliver quality service and maintain operational efficiency. However, the restaurant industry often faces challenges in attracting and retaining qualified staff, leading to increased labour costs and operational challenges. Additionally, regulatory requirements such as minimum wage laws and overtime regulations further add to the labour costs burden. These factors contribute to squeeze profit margins for full-service restaurants, making it challenging for them to remain competitive while maintaining quality standards and satisfying customer expectations.

Impact of Covid-19 on the Full Service Restaurants Market

The Covid-19 pandemic has significantly impacted the full-service restaurants market, causing widespread disruptions and challenges. Government-imposed lockdowns, social distancing measures, and restrictions on dine-in services led to a sharp decline in foot traffic and revenue for full-service restaurants worldwide. Many establishments were forced to close temporarily or permanen...

Restaurant Management Software Market size was valued at USD 5.12 Billion in 2023 and is projected to reach USD 15.2 Billion by 2031, growing at a CAGR of 12.1% during the forecast period 2024-2031.

Global Restaurant Management Software Market Drivers

The market drivers for the Restaurant Management Software Market can be influenced by various factors. These may include:

Increasing Demand for Operational Efficiency: The Restaurant Management Software Market is significantly driven by the increasing demand for operational efficiency in the foodservice sector. Restaurants face pressure to streamline their operations, minimize waste, and enhance service quality, which drives the adoption of technology solutions.

Rising Adoption of Cloud-based Solutions: The shift towards cloud computing has emerged as a crucial driver in the Restaurant Management Software Market. Cloud-based solutions offer numerous advantages like remote access, automatic updates, and reduced IT infrastructure costs.

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Food Service Market Size 2025-2029

The food service market size is forecast to increase by USD 53709.5 billion at a CAGR of 47.5% between 2024 and 2029.

The market is experiencing robust growth, driven primarily by the increasing demand for food away from home. Consumers' busy lifestyles and preference for convenience have led to an uptick in the consumption of prepared meals , fast food and snacks. Furthermore, the trend towards indulgence and food experimentation is fueling growth in the market. However, the sector faces challenges, including labor shortages, which can impact operational efficiency and increase costs.
Food service businesses must adapt to these dynamics by exploring innovative solutions, such as automation and outsourcing, to mitigate labor shortages and maintain competitiveness. Companies that effectively navigate these challenges and capitalize on consumer trends stand to gain significant market share and revenue growth.

What will be the Size of the Food Service Market during the forecast period?

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The foodservice market in the US is experiencing dynamic shifts, driven by various trends and market dynamics. Revenue optimization through pos integration and menu innovation continues to be a priority for businesses. Customer service is being enhanced through digital marketing strategies, personalized dining, and mobile payments. Supply chain transparency and food safety certifications, such as HACCP, are increasingly important for consumer trust. Foodservice trends include social media engagement for customer retention, predictive analytics for operational efficiency, and sustainability initiatives for brand loyalty. Energy efficiency and kitchen automation are key areas for cost savings and food safety training ensures guest satisfaction.
Contactless ordering and delivery optimization are essential for addressing the current health concerns. Food waste recycling and food cost management are important for sustainability and profitability. Foodservice consulting, restaurant design, and food industry standards play a crucial role in maintaining operational efficiency and guest satisfaction. Food safety certifications and foodservice consulting services are vital for ensuring regulatory compliance and improving overall performance.

How is this Food Service Industry segmented?

The food service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Service

  Conventional
  Centralized
  Ready-prepared
  Assembly-serve


Sector

  Commercial
  Non-commercial


Cuisine Type

  American
  Italian
  Asian


Price Range

  Budget
  Mid-range
  Premium


Target Audience

  Families
  Professionals
  Students


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Service Insights

The conventional segment is estimated to witness significant growth during the forecast period.

In the dynamic hospitality industry, various components play integral roles in optimizing food service operations. Conventional food service systems, where ingredients are prepared and served on the same premises, ensure freshness and customization for customers. These systems are widely adopted in schools, universities, restaurants, and cafeterias, with food being held for a brief period before serving. Cloud-based solutions, including inventory management, employee scheduling, and digital signage, enhance operational efficiency and customer experience. Machine learning and artificial intelligence are increasingly integrated into restaurant technology for menu engineering, pricing strategies, and customer relationship management. Food traceability and food safety standards are crucial for maintaining quality and adhering to regulations.

Catering services, from corporate catering to event catering, offer flexibility and convenience. Mobile ordering, online ordering, and loyalty programs cater to the growing demand for contactless and personalized services. Sustainable practices and food waste reduction are essential considerations for both environmental and economic reasons. Data analytics and supply chain management help optimize operations and reduce costs. Kitchen equipment and cooking equipment are essential investments for efficient food preparation. Fine dining establishments prioritize table management and customer experience, while quick service restaurants focus on labor management and marketing automation. In the ever-evolving foodservice landscape, staying updated on these trends and incorporating the latest technologies is vit

The market size of the global online food delivery sector was estimated at over one trillion U.S. dollars in 2023, of which 630 billion dollars were generated in the grocery delivery segment, and 390 billion dollars in the meal delivery segment. By 2029, the online food delivery market is forecast to generate revenues reaching 1.85 trillion U.S. dollars.

The Restaurant Management Software Market Share size and share are expected to exceed USD 28.03 billion by 2034, with a compound annual growth rate (CAGR) of 17.3% during the forecast period.

Snapshot img

Quick Service Restaurants Market Size and Trends

The quick service restaurants market size is forecast to increase by USD 61.2 billion at a CAGR of 2.1% between 2023 and 2028. In the market, online ordering and customization are key trends driving growth. Consumers increasingly prefer contactless ordering and pick-up options to minimize waiting times and reduce human error. Digital menus and unassisted sales through kiosks and mobile apps are also gaining popularity. However, challenges persist, such as the need for accurate condiment dispensing and maintaining consistent food quality during digital ordering and pick-up. Innovations in packaging and serving of food are essential to ensure customer satisfaction and minimize food waste. Fluctuations in raw material prices also impact the QSR industry, requiring agility and adaptability from players.

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Quick service restaurants (QSRs) have undergone significant transformation in recent years, with technology playing a pivotal role in shaping the industry. This evolution has been driven by the increasing demand for cheap food and efficient service, making QSRs a staple in the US food market. The inception of technology in QSRs began with the introduction of digital menus and online ordering systems. These innovations have revolutionized the ordering experience, allowing customers to customize their meals and reduce waiting times. Mobile devices have become an integral part of this process, enabling unassisted sales and real-time stock updates. However, the integration of technology in QSRs is not limited to digital menus and online ordering. Human interaction and customer service remain essential components of the QSR experience. Technology is being used to enhance these aspects, rather than replace them. For instance, human error in taking orders can be minimized with the use of digital ordering systems, allowing staff to focus on providing excellent customer service.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Service

  Eat-in service
  Takeaway service
  Drive-thru service
  Home delivery service


Type

  Chain
  Independent


Geography

  North America

    Canada
    US


  APAC

    China
    Japan


  Europe

    UK


  South America



  Middle East and Africa

By Service Insights

The eat-in service segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth due to the increasing population of adults aged 25-49 years in the US. With hectic work schedules, QSRs offer a convenient solution for achieving a work-life balance. Consumers seek flexibility and diversity in menu offerings at these establishments.

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The eat-in service segment was the largest segment and was valued at USD 266 billion in 2018. In response, QSR operators are incorporating multi-cuisine dishes to cater to diverse tastes and preferences. This innovation not only attracts new customers but also encourages repeat business. Furthermore, companies offer promotional deals and discounts to enhance the customer experience and identify areas for improvement. In the realm of menu management, the use of paper menus is gradually being replaced by digital, self-ordering kiosks. Hence, such factors are fuelling the growth of this segment during the forecast period.

Regional Analysis

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North America is estimated to contribute 54% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The North American market is experiencing growth due to several factors. Consumers' preference for convenience and affordability, coupled with brand loyalty, continues to drive the industry. In the US and Canada, the trend of eating out is increasingly popular, leading to an increase in the number of quick service restaurants. This trend is particularly strong in the US and Canada, where foot traffic in restaurant chains is high. Another factor is the availability of a diverse range of cuisines and flavors, which attracts consumers and keeps them coming back. The quick service restaurant sector in North America is thriving, with counter service, takeout, and drive-thru options catering to consumers' needs for low price points and convenience.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketi

According to Cognitive Market Research, the global Food and Beverage market size is USD 6684.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.80% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 2673.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 2005.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 1537.37million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.8% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 334.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 133.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
The Breakfast Cereals held the highest Food and Beverage market revenue share in 2024.

Market Dynamics of Food and Beverage Market

Key Drivers of Food and Beverage Market

Rising Global Population to Increase the Demand Globally

The increasing number of people on the planet is driving up demand for food and drink, particularly in developing countries where disposable incomes are rising. There is a proportional increase in the demand for food and drink as more people enter the consumer market. The need for agricultural and food production systems to develop and adapt to satisfy growing demands is highlighted by this trend. Furthermore, it emphasizes how important sustainable practices are to ensuring food security over the long term and reducing environmental impacts. To address these issues and create resilient and equitable food systems that can meet the demands of an expanding population while preserving the planet's resources for future generations, governments, businesses, and communities must work together.

Urbanization and Busy Lifestyles to Propel Market Growth

Convenient, ready-to-eat food and beverages are in high demand due to urbanization and the spread of hectic lives. The need for easy and convenient food options has increased as more people live in cities and manage busy schedules. As a result of this trend, the availability of packaged foods, frozen dinners, and grab-and-go options has increased, appealing to consumers who want convenience without sacrificing flavor or nutrition. With urbanization driven by social and economic considerations, the portable food and beverage product market is expected to grow even further. In response to changing customer tastes, food producers and distributors are coming up with new and inventive ways to provide a wide range of easily accessible products that meet the needs of both busy lifestyles and urban residents.

Restraint Factors Of Food and Beverage Market

Rising Food Prices to Limit the Sales

Increased food costs are frequently caused by changes in the price of agricultural commodities, which are made worse by supply chain interruptions and extreme weather. These dynamics, especially for vulnerable people, can substantially impact affordability and consumer purchasing. When staple foods rise in price, households might have to spend more of their income to cover their fundamental nutritional needs, leaving them with less money to spend on other necessities. Furthermore, rising food prices have the potential to worsen food insecurity, increasing the likelihood of poverty and malnourishment in impacted areas. Businesses, civil society, and governments must tackle these issues by strengthening the food systems' resilience, reducing price volatility, and guaranteeing that all societal segments have fair access to reasonably priced and nutrient-dense food.

Impact of Covid-19 on the Food and Beverage Market

The COVID-19 pandemic has had a significant global impact on the food and beverage industry. Industry landscapes have been changed by lockdowns, supply chain disruptions, and changing customer behaviors. Due to closures and limitations, the restaurant and food service industries suffered large losses; yet, as people stored up and increased their home cooking, there was a boom in demand for packag...

Global Full Service Restaurants market size is expected to reach $1964.94 billion by 2029 at 5.3%, segmented as by casual dining restaurants, family style restaurants, bistro and brasserie, pub-style restaurants, fast casual dining

The size of the United States Full-Service Restaurants Market was valued at USD 324,900 Million in 2023 and is projected to reach USD 554,120 Million by 2032, with an expected CAGR of 4.10% during the forecast period. Full service restaurants (FSR) are restaurants where customers sit at tables, order from a menu, and are served by waiters. These restaurants range from casual family dining to fine dining restaurants that offer a variety of dishes and dining experiences. Despite the positive growth, the full service restaurant market faces many challenges. The industry is highly competitive with many players vying for market share. Consumers are increasingly attracted to restaurants that offer special food and beverage programs. This trend is most evident in the growth of public and private restaurants that cater to the diverse tastes of the American public. In addition, the focus on local and sustainable food is increasing, focusing on healthy and environmentally friendly foods. The full-service restaurant market in the United States is poised for significant growth due to changing consumer preferences and the growing trend of eating out. While challenges remain, the market's potential for innovation and expansion is a great opportunity for food vendors and investors alike. Recent developments include: January 2023: Applebee’s announced the return of its USD 6 Smoocho Mucho Sips.December 2022: Dine Brands Global Inc. acquired Fuzzy's Taco Shop® ("Fuzzy's") from Experiential Brands LLC, a wholly-owned subsidiary of NRD Holding Company, for USD 80 million in cash.November 2022: Brinker International announced that its brand Chili's Grill & Bar launched its first to-go-only location nationwide.. Key drivers for this market are: Increasing Demand for Functional and Fortified Food, Multi-functionality and Wide Application of Riboflavin. Potential restraints include: Low Stability of Riboflavin on Exposure to Light and Heat. Notable trends are: A significant rise in tourist arrivals is driving the market growth, capitalizing on the opportunities presented by the influx of visitors.

The global quick service restaurants market size was valued at USD 481.08 Billion in 2024. The market is further projected to grow at a CAGR of 3.70% between 2025 and 2034, reaching a value of USD 691.84 Billion by 2034.

The global revenue in the food market was forecast to continuously increase between 2025 and 2030 by in total 3.4 trillion U.S. dollars (+36.06 percent). After the tenth consecutive increasing year, the revenue is estimated to reach 12.87 trillion U.S. dollars and therefore a new peak in 2030. Notably, the revenue of the food market was continuously increasing over the past years.Find more information concerning Indonesia and Vietnam. The Statista Market Insights cover a broad range of additional markets.