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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