What are the recent trends in market size and growth for the food IT & Communication Technology and drinking places market?
The food IT & Communication Technology and drinking places market size has grown rapidly in recent years. It will grow from $2684.74 $ billion in 2024 to $2967.84 $ billion in 2025 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to rising disposable income, changing consumer lifestyles, increased tourism, growing diversity in cuisine preferences, and the proliferation of food service chains.
The food IT & Communication Technology and drinking places market size is expected to see rapid growth in the next few years. It will grow to $4369.58 $ billion in 2029 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to increasing health consciousness, the rise of plant-based diets, technological innovations in ordering and delivery, demand for unique dining experiences, and sustainability initiatives. Major trends in the forecast period include the adoption of contactless payment systems, integration of AI for customer service, expansion of food delivery platforms, emphasis on zero-waste practices, and growth in alcohol-free beverage options.
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How have varous drivers impacted the growth of the food IT & Communication Technology and drinking places market?
The increasing number of food courts and malls is expected to propel the growth of the food IT & Communication Technology and drinking places market going forward. Food courts and food malls refer to designated areas within shopping malls or complexes that feature a variety of food and beverage vendors, providing a communal dining space for patrons. The increase in food courts and malls is due to rising consumer demand for diverse dining options and convenient meal experiences in one location. Food IT & Communication Technology and drinking places are used as food courts and malls to provide diverse dining and beverage options in a centralized location, enhancing convenience and variety for customers. For instance, in March 2023, according to SingStat, a Singapore-based government organization, all food and beverage service industries experienced year-on-year sales growth, with food caterers seeing the highest increase at 80.1%, restaurants growing by 16.4%, and sales for cafes, food courts, other eating places, and fast-food outlets rising by 13.2% and 11.1%, respectively. On a seasonally adjusted month-over-month basis, restaurant sales increased by 5.7% and food caterers by 2.5%. Therefore, the increasing number of food courts and malls is driving the growth of the food IT & Communication Technology and drinking places market.
What are the primary segments of the food IT & Communication Technology and drinking places market?
The food IT & Communication Technology and drinking placesmarket covered in this report is segmented –
1) By Type: Restaurants And Mobile Food IT & Communication Technology, Bars And Cafes, Catering IT & Communication Technology, Food Contractors
2) By Pricing: High-End, Economy
3) By Service: Online, Offline
4) By Ownership: Chain Market, Standalone Market
Subsegments:
1) By Restaurants And Mobile Food IT & Communication Technology: Full-Service Restaurants, Fast Food And Quick Service Restaurants (QSR), Casual Dining Restaurants, Fine Dining Restaurants, Food Trucks And Mobile Carts, Buffets And All-You-Can-Eat IT & Communication Technology, Ethnic And Specialty Cuisine Restaurants, Ghost Kitchens And Delivery-Only Restaurants
2) By Bars and Cafes: Traditional Bars and Pubs, Cocktail Bars and Lounges, Coffee Shops and Cafes, Brewpubs and Microbreweries, Wine Bars, Sports Bars and Nightclubs, Tea Houses and Specialty Beverage Cafes
3) By Catering IT & Communication Technology: Event Catering, Institutional Catering, Corporate and Office Catering, Food Service for Large Gatherings, Specialized Catering, Mobile Catering
4) By Food Contractors: Contract Food IT & Communication Technology for Businesses, Food Management IT & Communication Technology, Institutional and Industrial Catering, Food and Beverage Contractors for Remote Locations, School and University Food Contractors, Healthcare Facility Food Contractors
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Which firms are leading the food IT & Communication Technology and drinking places market?
Major companies operating in the food IT & Communication Technology and drinking places market are Sysco Corporation, Performance Food Group, US Foods Holding Corp., Starbucks Corporation, Compass Group plc, Sodexo Group, McDonald’s Corporation, Subway IP LLC, Gordon Food Service, Chipotle Mexican Grill Inc., Elior Group SA, Ben E. Keith Company, Shamrock Foods Company, Delaware North, Chefs’ Warehouse, Reinhart Foodservice LLC, Metz Culinary Management Inc., AVI Foodsystems Inc., Thompson Hospitality Corporation, Guckenheimer (ISS), Valley IT & Communication Technology Inc., Creative Dining IT & Communication Technology, Guest IT & Communication Technology Inc., Bon Appétit Management Company, Centerplate Inc., Unidine Corporation, Brock & Company Inc.
How will industry trends affect the trajectory of the food IT & Communication Technology and drinking places market?
Major companies operating in the food IT & Communication Technology and drinking places market are focused on developing innovative solutions, such as a one-stop-shop restaurant service hub, to streamline their operations, enhance customer experiences, and support the seamless integration of various IT & Communication Technology. A one-stop-shop restaurant service hub refers to a comprehensive service center that offers a wide range of IT & Communication Technology and amenities related to the restaurant industry. This concept aims to provide restaurant owners, managers, and staff with everything they need to operate their business efficiently, from supplies and equipment to professional IT & Communication Technology and support. For instance, in July 2024, Zomato, an India-based food delivery and restaurant discovery company, launched a one-stop-shop service hub for quick service restaurants (QSRs). It is a one-stop solution in India designed to streamline restaurant operations by connecting them with suitable vendors. The hub assists with Food Safety and Standards Authority of India (FSSAI) registration, goods and IT & Communication Technology tax (GST) registration, and trademark registration and aims to provide a full-stack solution for restaurant owners. Future IT & Communication Technology will include point-of-sale (POS) integrations and hygiene audits to support restaurants at every stage of their business journey.
Which geographic trends are shaping the food IT & Communication Technology and drinking places market, and which region has the highest market share?
North America was the largest region in the food IT & Communication Technology and drinking places market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the food IT & Communication Technology and drinking places market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Food IT & Communication Technology And Drinking Places Market Report 2025 Offer?
The food IT & Communication Technology and drinking places market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Food IT & Communication Technology and drinking places are establishments that prepare and serve meals and beverages for consumption. It includes various businesses that differ in their service style, menu offerings, and overall experience provided to customers. They are used to provide dining and drinking experiences to customers, offering a range of food and drink options in various settings, such as restaurants, cafes, bars, and catering IT & Communication Technology.
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