Transparency Market Research (http://www.transparencymarketresearch.com) includes new market research report "Foodservice Market" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 03/04/2015 -- The food services industry comprises catering services that provide meals to working professionals at their work locations or to children in schools. Cafeterias or restaurants may also enlist food service companies to oversee the catering in their establishments. Educational institutes such as schools, colleges, and universities, and the corporate sector, where it is not always possible for individuals to carry their own food due to various constraints, constitute the major consumer base of the food services market.
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The food services market primarily banks on the wide diversity of food that can be made available through professional catering to expand its consumer base. More often than not the service is reliable and risk-free, since regional public health service departments keep a tab on the section of the food service market under their jurisdiction, inspecting it for quality of the food served and potential health risks such as food- or waterborne diseases.
The demonstrable convenience of the food services market to consumers is encouraging food service companies to seek incorporation into the highly potent marketing channel of supermarkets. This endeavor could increase the spread of the food services market by leaps and bounds, thanks to the growing incidence of supermarkets all over the world. Eateries and joints that focus on USPs unrelated to food such as a lounge or pool and snooker facilities are also increasingly using food service companies to delegate their catering sections.
Conventional Food Service Systems Rule the Roost
Four types of food service systems can be formed according to how the food is prepared and served:
Conventional food service systems
Centralized food service systems
Ready-prepared food service systems, and
Of these, conventional food services were the dominant mode in 2012. A conventional food service system includes gathering various ingredients from differing channels but preparing the food onsite. Due to the convenience this offers to both suppliers as well as consumers of food services, this is expected to remain the dominant category in the coming years.
However, the heavy workforce and high initial costs required to operate a conventional food service system are expected to check the growth of the global food services market.
North America Leads the Way
North America is the dominant regional segment of the global food services market. This is due to increasing demand for fast food from the growing corporate sector. Thanks to the high affluence in developed or developing countries such as the U.S., Canada, and Mexico, North America has a large amount of eateries and restaurants, which are expected to help the region maintain its top position. The North America food services market has also been helped by the high value of transactions and several influential mergers.
Europe is the second-largest regional food services market in the world, due to reasons similar to North America. Western Europe, which contains highly industrialized and affluent economies such as Germany, France, the U.K., Spain (despite recent financial troubles) and Italy, holds an overwhelmingly dominant market share within the European food services market.
The Asia Pacific food services market is expected to show the fastest growth in the coming years, thanks to increasing urbanization in countries such as China, India, Japan, and South Korea. Urbanization, which is the root cause of the growth of the global market for food service, is expected to boost the corporate sector, aiding the growth of the food services market in the process. This will also indirectly benefit the food services equipment market in Asia Pacific, which will grow strongly alongside its parent market.
Major Market Players in the Global Food Services Market
Due to the wide spread of the food services sector, the market is fragmented and dominated by regional players focusing on regions where they have developed a significant cache. This makes the market highly competitive.
Some of the major players in the food services market are Compass Group North America, Sodexo Inc., Aramark Corporation, and Centerplate.
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