The
food service market in APAC is poised
to grow by USD 344.23 bn during 2020-2024, progressing at a CAGR of over 5%
during the forecast period.
The market is driven by the rise in the demand for convenient
food. In addition, the increasing number of foodservice chains is anticipated
to boost the growth of the food service market in APAC.
Factors such as changing lifestyles and the rise in purchasing
power, especially in developing countries such as China and India have
increased the demand for convenience foods. The demand for on-the-go food
products is also on the rise owing to busy lifestyles and the growing need for
convenience. The growing demand for convenience foods is encouraging market
players to offer flexible menus and delivery options based on customer
preferences. These factors are expected to fuel the growth of the food service
market in APAC during the forecast period.
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Major Five Food Service Market in APAC Companies:
Barista Coffee Co. Ltd.
Barista Coffee Co. Ltd. operates the business through segments
such as Beverage, Food, and Quenchers. The company offers hot and cold
beverages, desserts, pasta, sandwich, and various types of quenchers.
Del Taco Restaurants Inc.
Del Taco Restaurants Inc. operates its business through the
Restaurant operations segment. The company provides food service through its
Del Taco Outlets.
Domino's Pizza Inc.
Domino's Pizza Inc. operates its business through segments such
as the US Stores, Supply Chain, and International Franchise. The company offers
oven-baked sandwiches, pasta, boneless chicken and wings, bread side items,
desserts, and soft drink products through its outlets.
McDonald's Corp.
McDonald's Corp. operates its business through segments such as
US, International Lead Markets, High Growth Markets, and Foundational Markets
and Corporate. The company operates a chain of restaurants under the brand,
McDonald’s.
Papa John's International Inc.
Papa John's International Inc. operates its business through
segments such as Domestic Company owned restaurants, North America
commissaries, and International. The company offers pizza through its Papa
John’s restaurants.
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