With the emergence and long-term Impact of COVID-19, Global Food Away from Home Market to reach USD XXX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Food Away from Home Market is poised to raise up to USD XX Billion by 2030. Food away from home refers to meals or food items that are consumed outside of one’s home or prepared by someone else. It typically includes dining out at restaurants, cafes, food trucks, or any establishment where food is prepared and served for immediate consumption. The value of the global food away from home (FAFH) market is witnessing substantial growth, primarily driven by the increasing popularity of cloud kitchens and the expanding presence of fast-food chains and the increasing female working population.
Geographically, the global Food Away from Home market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 with largest market share. The region has a well-developed and matured foodservice industry, characterized by a wide range of dining options and established restaurant chains. This extensive infrastructure and variety of foodservice establishments contribute to the dominance of North America in the FAFH market. Asia Pacific is expected to grow with the fastest growing during the forecast period.
This growth can be attributed to the increasing presence of well-known restaurant chains in the region and the growing popularity of dining out. As popular restaurant chains expand their operations and establish a stronger foothold in the Asia-Pacific market, they contribute to the overall growth of the food away from home industry. Additionally, there is a notable shift in consumer preferences towards embracing an eating-out culture, which further propels the market’s expansion in the region.
The global Food Away from Home market is highly competitive owing to the presence of several key manufacturers such as Fiber Choice, Smarty Pants Vitamins, Pharmavite LLC, Renew Life Formulas, LLC, Better Nutritionals, Swanson Health, Procter & Gamble and others.
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Global Food Away from Home Market Size Study & Forecast, by Delivery Model (Dine in, Take Away, Home Delivery), by Application (Restaurants, Schools and Colleges, Hotels and Motels, Retail Stores and Vending, Others), by Type of Occasion (Entertainment, Travel, Retail, Freestanding), by Ownership Type (Independent, Chains) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Food Away from Home Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Delivery Model segment, Home Delivery emerged out as the leading market segment in 2022.
- In the Application Segment, Hotels and Motels emerged out as the leading market segment in 2022.
- In the Type of Occasion, Travel emerged out as the leading market segment in 2022.
- In the ownership Type, Chains emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth a well-developed and matured foodservice industry, characterized by a wide range of dining options and established restaurant chains.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Dine in
- Take Away
- Home Delivery
- Schools and Colleges
- Hotels and Motels
- Retail Stores and Vending
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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