Global foodservice market to focus on innovative packaging to stay competitive
As consumer spending capacity rises at a considerable rate, commercial and non-commercial foodservice outlets have sprung across the globe.
The global foodservice market is projected to expand at a steady pace in the coming years, according to a study conducted by Transparency Market Research, Albany, N.Y.
As consumer spending capacity rises at a considerable rate, commercial and non-commercial foodservice outlets have sprung across the globe. The report, titled "Foodservice Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013–2019," highlights the key factors influencing the trajectory of this market during the forecast period.
Consumers around the world have become increasingly health-conscious, making a tremendous impact on their dietary habits and purchases. Capitalizing on this trend are cafes, restaurants and hotels, who have begun offering nutritious and healthy meals on the menu, such as salads and juices.
Innovative packaging is another trend observed in the foodservice market, with biodegradable and environment-friendly packaging materials witnessing a rise in demand and consumption. Stringent environmental norms have governed the foodservice industry, and companies are looking to comply with these rules by using recyclable and reusable packing materials.
Food service can be either commercial or non-commercial. Busy consumer lifestyles and the demand for customized menus have resulted in the commercial foodservice sector enjoying a prominent spot in the overall market. Delivery and takeaway food has gained popularity in the recent past. Foodservice systems are of four main types—centralized, conventional, ready or prepared and assembly service. Conventional foodservice systems are most common and find application in cafeterias in schools, colleges and offices.
Geographically, the foodservice market can be segmented into North America, Asia Pacific, Europe and Rest of the World. Asia Pacific accounted for a considerable share in the global market in terms of revenue generation. This can be attributed to a massive consumer base, the rapid establishment of restaurants and hotels, the rising consumer income and aggressive promotional activities by players operational in the region.