LONDON--(BUSINESS WIRE)--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. Request free sample pages
Read the 120-page report with TOC on "Food Service Market In APAC Analysis Report by Product (Food sales and Beverage sales), Type (Restaurants, Delivery and take away, Fast foods, Café/Bars, and Others), and Geography (China and Rest of APAC), and the Segment Forecasts, 2020-2024".
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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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Food Service Market Product Outlook (Revenue, USD Billion, 2020-2024)
- Food sales
- Beverage sales
Food Service Market Type Outlook (Revenue, USD Billion, 2020-2024)
- Restaurants
- Delivery and take away
- Fast foods
- Café/Bars
- Others
Food Service Market Regional Outlook (Revenue, USD Billion, 2020-2024)
- China
- Rest of APAC
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Related Reports on Consumer Discretionary Include:
Global Foodservice Market – Global foodservice market by geography (APAC, Europe, MEA, North America, and South America), foodservice system (conventional, centralized, ready-prepared, and assembly-serve), and sector (commercial and non-commercial).
Global Online On-Demand Food Delivery Services Market – Global online on-demand food delivery services market by business model (order-focused food delivery services and logistics-focused food delivery services) and geography (APAC, Europe, MEA, North America, and South America).
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