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Asia Pacific Food Service Market by Place Type (Full Service Restaurants, Quick Service Restaurants, Food Junctions Cafeterias/buffets, Bars and Managed Food Service), end-user (Industrial Premises, Commercial and Office Premises, Hospital & Nursing Homes, Educational Premises, In-transit Food Service, and Sports Centers/Malls), Analysis and Forecast 2023–2028

Published: March, 2023
ID: 9546
Pages: 120
Formats: report pdf report excel report power bi report ppt

Asia Pacific Food Service Market Size, Share, Growth (2023-2028):

Asia Pacific Food Service Market is anticipated to develop a stunning growth rate of 31.2% throughout the forecast period (2023 - 2028).

Asia Pacific Food Service Market Overview:

The restaurant or food service industry includes all companies that offer meals prepared outside the home, such as restaurants, cafes, and other food outlets. Mobile food services, such as the food truck industry, are also expanding in developing countries due to the increasing penetration of fast food restaurants. While restaurant owners are optimistic about The Future growth and sustainability of their businesses, challenges related to government regulations and rising labour costs are creating enormous pressure on industry players. In the United States, hiring and retaining employees is becoming a major problem for gamers in the restaurant industry. However, the implementation of the technology helps the actors of the food service industry to develop considerably, but the process is not without obstacles. High-cost investment in advanced infrastructure remains a major challenge for food chain operators. With the increasing number of fast food chains, organized food unions and food outlets, the pressure on the hotel industry has increased due to quality and service.

Recent Developments 

  • In December 2019, Performance Food Group Co. (P.F.G.) has declared the purchase of Reinhart Foodservice, L.L.C, with approximately $ 30 billion in annual net revenue. 

  • In January 2020, Imperial Dade, a leading distributor of disposable catering supplies, confirmed the purchase of Wagner Supply Company. The acquisition strengthens Imperial Dade's presence in Texas while enhancing the company's differentiated value proposition for customers in the region. 

  • In March 2020, US foods, the broadband distributor in Illinois announced a deal to purchase Smart Foodservice Warehouse Stores, which operates 70 small cash and transportation stores in many states. 

  • In March 2020, NEOGEN Corporation announced that it has acquired the assets of Chilean company Magiar Chilena, a distributor of diagnostic products for food, animals and plants, including NEOGEN products. 

Asia Pacific Food Service Marke Drivers and Restraints:

The growing number of cafes serving alcohol and groceries is gaining ground among young people for parties and gatherings. Players in the restaurant industry are inclined to renovate traditional cafes and lounges, which will eventually make it a themed facility that attracts more customers compared to older ones. Besides, several restaurant and food chain operators are improving their presence on digital platforms to extend their reach and improve revenue. Online portals like UBER Eats, Zomato, Swiggy and others are helping players in the restaurant industry increase the number of delivery orders and takeaways. According to the survey analysis, in urban areas, 52.2% of consumers prefer to receive home food delivery through online ordering. Improving connectivity services and smartphone penetration in major economies is one of the key things driving consumers to order food and drink online. Today, consumers are overwhelmed by the limitations of their lifestyle and have little time to prepare food, so they look for practical food. Fast-service restaurants offer the convenience and food of your choice right at your doorstep. The fluctuation in the prices of raw materials such as meat, cereals, sugar and dairy products is one of the main challenges for those involved in catering. On the other hand, new entrants to the market are competing fiercely with existing players thanks to improved business models and innovative food menus. New players are focusing on digital channels to reach consumers and are primarily focused on branding. Federal authorities are also adjusting their regulatory landscape to ensure the quality of food and services provided by restaurateurs.

Asia Pacific Food Service Market Segmentation:

by Place Type

  • Full-Service Restaurants

  • Quick Service Restaurants

  • Food Junctions Cafeterias/buffets

  • Bars and Managed Food Service

By end-user

  • Industrial Premises

  • Commercial and Office Premises

  • Hospital & Nursing Homes

  • Educational Premises (Colleges, Universities, Schools)

  • In-transit Food Service (Airlines, Trains)

  • Sports Centers/Malls

Based on the place type, full-service restaurants accounted for the most substantial share of 36.0% in 2017, and are likely to record a CAGR of 4.3% during the forecast period. In contrast, the market share of fast food restaurants is continually growing increasing at a rate of 31.90% due to urbanization and the hectic lifestyle of the population living in metropolitan areas. The upward trend in mobile restaurants, such as food trucks, is also contributing to the positive growth of fast-service restaurants. Several players in the food service industry are focusing on digital media marketing and other innovative tactics to put exceptional quality in the spotlight.

Asia Pacific Food Service Market Regional Analysis:

  • China

  • Taiwan

  • South Korea

  • India

  • Japan

  • Australia

  • New Zealand

  • the rest of the Asia-Pacific

China dominated the food service market in Asia-Pacific with a share of 31.2% in 2016 due to the increase in the number of restaurants and the western culture of cafes and salons. Also, China is the most substantial consumer in 2017 and is determined to continue its maintenance over the calculated period due to the large population and the purchasing power of consumers. Leisure travel activities in China are growing considerably, leading to the expansion of the hotel industry. Singapore is constantly growing with a 23.1% market share due to rising personal disposable income and lifestyle changes. On the other hand, India is the most opportunistic market with a compound annual rate of 9.0% with the rise in catering applications like Swiggy, Zomato, etc. Recently, Swiggy has added nearly 5,000 restaurants with an estimated time of 30 minutes for delivery.

Key Players

  1. Coffee Beanery

  2. Coffee Day Enterprises

  3. Tacos

  4. Domino's Pizza

  5. Doutor Coffee Shop

  6. Ediya Coffee

  7. Gloria Jean's Cafees

  8. Jollibee Foods

  9. J.CO DONUTS & CAFFEE

  10. Krispy Kreme Donuts

  11. Mad over Donuts

  12. Monsieur Donut

  13. MOS Food Services

  14. M. Lee, specialty restaurants

  15. Subway and Tully's Coffee

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