Overview and Scope
A restaurant refers to a location where people may buy and eat food and drinks. Mobile food services refer to a type of food service which involves the preparation of meals in or the delivery of it from a vehicle.
Sizing and Forecast
The restaurants and mobile food services market size has grown steadily in recent years. It will grow from $2973.89 billion in 2023 to $3119.73 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, the rising demand for fast foods, increased spending on dining out and the influence of digital media marketing and social media.
The restaurants and mobile food services market size is expected to see strong growth in the next few years. It will grow to $3896.75 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to the increasing demand for online food delivery services, the rising population, the rising urbanization and the changing consumer preferences. Major trends in the forecast period include focus on autonomous delivery systems, quick-service restaurants (qsrs), robot-based restaurants, cloud-based technology, internet of things (iot), sustainability and partnerships and acquisitions.
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Segmentation & Regional Insights
The restaurants and mobile food services market covered in this report is segmented –
1) By Type: Full-Service Restaurants, Limited-Service Restaurants, Cafeterias, Grill Buffets, And Buffets, Mobile Food Services
2) By Ownership: Chain Market, Standalone Market
3) By Pricing: High-End, Economy
4) By Service Type: Online Booking, Offline Booking
Asia-Pacific was the largest region in the restaurants and mobile food services market in 2023. North America was the second largest region in the restaurants and mobile food services market. The regions covered in the restaurants and mobile food services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Globalization is expected to pave the way for more joint ventures, foreign investments, global expansion, and multi-national companies setting up facilities in high-growth regions, thereby allowing restaurant operators to offer their cuisines to customers around the world. Globalization is also making it easier for restaurants to procure exotic ingredients and hence provide a more sophisticated and wider variety of dishes to their customers, thereby giving restaurants an opportunity to compete globally. Furthermore, globalization has increased the number of potential vendors for restaurants, lowering the bargaining power of suppliers and thus helping the bottom line. For example, McDonald’s is produced in many countries and has franchises around the world. It invests and supports initiatives to adapt its products and services to different locales to ensure its global brand. This rise in globalization is likely to boost investments and consequentially drive the market going forward.
Key Industry Players
Major companies operating in the restaurants and mobile food services market report are Darden Restaurants, Yum China Holdings, Inc., McDonald’s, Chipotle, Zensho Holdings Co Ltd, Subway, Chick-fil-A, Berkshire Hathaway Inc., Bloomin’ Brands, Brinker International, Qummy, Bomra’s, Mimi Kakushi, Orfali Bros Bistro, GrowFood, Live Menu, Zuma, Olympic Oils Limited, PedidosYa, iFood, LPM Restaurant & Bar, Wasabi by Morimoto, Burger King, MenuDino, The Table, Flair Rooftop, Masque, Bon Bon Buddies Ltd, Gaia, LanTing Restaurant, Salon de Ville, Bartello, Interfood Technology Ltd, Il Borro Tuscan Bistro, Broniboy, Club Dominó, Uber Eats, The Handmade Cake Company Limited, Cut by Wolfgang Puck, Just Eat, YICAFE at Pudong Shangri-La, KFC, Deliveroo, La Vita è Bella, Reif Kushiyaki, Performance Food, Catery, Cracker Barrel Old Country Store, The Abergavenny Fine Foods Company, 3 Fils, Shanghai Haidilao Hot Pot, Pizza Express, Iiko, Jin Xuan Chinese Restaurant, Welldone, Restaurant Brands International Inc., Amazonico, Fiona Cairns Limited
The restaurants and mobile food services market report table of contents includes:
1. Executive Summary
2. Restaurants And Mobile Food Services Market Characteristics
3. Restaurants And Mobile Food Services Product/Service Analysis -Product/Service Examples
4. Restaurants And Mobile Food Services Market Trends And Strategies
5. Restaurants And Mobile Food Services Market – Macro Economic Scenario
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68. Global Restaurants And Mobile Food Services Market Competitive Benchmarking
69. Global Restaurants And Mobile Food Services Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Restaurants And Mobile Food Services Market
71. Restaurants And Mobile Food Services Market Future Outlook and Potential Analysis
72. Appendix
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