The global food service market revenue was valued at USD 3,236.92 billion in 2023 and is expected to grow from USD 3,486.58 billion in 2024 to USD 6,348.75 billion by 2032, with a CAGR of 7.78% during the forecast period. The U.S. food service market is anticipated to see significant growth, reaching an estimated value of USD 1,767.54 billion by 2030. Additionally, the market size in the U.S. is projected to reach USD 1.71 billion by 2032, driven by the increasing number of fast-food chains and higher consumer spending on fast food.

Food service establishments are businesses that prepare and distribute food for on-premise consumption, takeaway, and delivery. This industry encompasses food service retailers, counter and table servers, and food service providers. The global food service market is fueled by the rising consumption of fast food, supported by increasing household incomes, more working women, and the convenience offered by fast food businesses.

List of Key Players Profiled in the Market Report

• McDonald's (U.S.)
• Starbucks (U.S.)
• Yum! Brands, Inc. (U.S.)
• Darden Restaurants, Inc. (U.S.)
• Restaurant Brands International Inc. (Canada)
• The Wendy’s Company (U.S.)
• Bloomin’ Brands, Inc. (U.S.)
• Papa John's International, Inc. (U.S.)
• Chipotle Mexican Grill, Inc. (U.S.)
• Domino's (U.S.)

Information Source:  https://www.fortunebusinessinsights.com/food-service-market-106277

Segments:

Full-Service Restaurants to Drive Growth Through 2029

The food service market is segmented into quick-service restaurants, full-service restaurants, institutions, and other categories. Full-service restaurants currently dominate the market due to their extensive and diverse menu offerings. The increasing popularity of family vacations and group dining experiences is fueling the expansion of this segment, which is projected to maintain its growth momentum in the coming years.

Commercial Food Service Segment Set for Significant Growth by 2029