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Industry Overview

The global food service market is among the most diverse and widespread categories of the food market, covering various channels of service ranging from full-service restaurants to food service in institutions, quick-service restaurants, and rising delivery platforms. Based on the National Restaurant Association, the foodservice industry is expected to reach $1.5 trillion in sales by 2025. In addition, a large majority of consumers indicate that they would like to eat out more frequently if the price were right. Robust growth arises from the ongoing urbanization of population, operating technologies, and consumers with increasing demands for convenience dining options from numerous demographic groups and locations.

Technology integration will continue to affect operational efficiency, and the food service packaging market will also play an important supportive role. The food service packaging market was valued at over USD 131.48 billion in 2023 and is projected to register 4.9% CAGR growth from 2024 to 2032 due to increasing convenience food demand.

The industry also has specialized segments, such as the airport quick service restaurant industry, with a size of USD 36.8 billion in 2024, which is projected to grow at a rate of over 4.5% during 2025-2034, fueled by increasing passenger traffic at airports.

Key market drivers are changing consumer lifestyles, digitalization through mobile ordering and delivery platforms, hospitality sectors' post-pandemic recovery, and growing demand for bespoke dining experiences. Sustainability initiatives, contactless service initiatives, and ghost kitchen concepts continue to transform industry operations and consumer engagement strategies across all food service channels.

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