FDBusiness.com

Global Consumer Foodservice Sales Grow 5.4% in 2014

 Breaking News
  • Orkla Sells K-Salat to Stryhns Orkla Foods Danmark has agreed to sell its K-Salat business to Stryhns, which is part of the Norwegian Agra group. The purpose of the sale is to concentrate Orkla’s activities on fewer categories. K-Salat has a product portfolio of salad spreads, mayonnaise, remoulade, dressings and potato salads in Denmark. Under the agreement, Stryhns will take over [...]...
  • Ardgowan Secures £1 Million to Build Malt Whisky Distillery and Visitor Centre A project to build a new lowland Scotch malt whisky distillery and visitor centre in Inverclyde has taken major step forward with the award of nearly £1 million from the Scottish Government. The Ardgowan Distillery secured £982,000 from the government’s Food Processing, Marketing and Co-operation (FPMC) grant scheme – providing vital capital towards construction costs. Martin [...]...
  • Irish Craft Beer Sustaining Growth A new Bord Bia report has revealed that Irish craft beer is performing well across all fronts, from the number of production facilities to production output, market share and exports. The number of craft breweries in Ireland has grown by more than 500% in the last 5 years, with 72 now in operation, up from [...]...
  • Fi Europe Innovation Awards – The Shortlisted Companies One of the highlights at Fi Europe & Ni is the announcement of the winners of the Innovation Awards. The competition not only rewards the most innovative products and concepts, it also acts as a reliable trend barometer. The ten-member jury, chaired by Peter Wennström of The Healthy Marketing Team, presents a shortlist of the [...]...
  • Advetec Targets Food and Drink Manufacturers With Next Generation Organic Waste Digester To reduce food processors costs, Advetec, a leading specialist in the treatment and reduction of solid and liquid organic waste, has launched the Advetec XO, an evolution of the company’s successful Bio-Thermic Digester (BTD) technology. The system is designed to rapidly reduce organic content within waste at source,cutting off-site transportation and processing costs and helping food manufacturing companies [...]...

Global Consumer Foodservice Sales Grow 5.4% in 2014

Global Consumer Foodservice Sales Grow 5.4% in 2014
May 21
10:49 2015

The global consumer foodservice market increased in value by over 5.4% in 2014, with over US$2.7 trillion in sales, according to market research company Euromonitor International. Full service restaurants accounted for the largest proportion of sales globally, followed by fast food and cafes/bars.

By region, Latin America and the Middle East/Africa lead with a compound annual growth rate (CAGR) from 2009-2014 of 10.7% and 9.3% respectively. All regions have seen growth over this period, except for Western Europe, where sales have remained flat or declining every year since 2009.

The world’s largest foodservice market in 2014 with over US$560 billion dollars in sales is China and according to Euromonitor data, emerging markets now account for 13 of the top 20 largest foodservice markets in value terms. Some of these markets include China, Brazil, India, Mexico, Indonesia, Vietnam, Turkey and Argentina.

“The importance of emerging market demand continues to grow, even in a challenging macroeconomic environment,” says Euromonitor International’s head of Consumer Foodservice, Michael Schaefer. “Yet competition is expanding fast and consumer demand in key markets grows more sophisticated all the time.”

2014 was a year of real difficulty for some of the largest players, as both YUM! Brands and McDonald’s faced sales issues in flagship markets like the US and China, which created openings for smaller local players.

“Fast food and coffee shops are still the categories of choice for global chains,” continues Michael Schaefer. “Global consumers demand affordable convenience in an engaging environment. Yet local operators are getting better all the time, and there is real opportunity for innovators in the current environment.”

To learn more about our international consumer foodservice research, please visit http://www.euromonitor.com/consumer-foodservice.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 28, 2017Fi Europe
  • December 4, 2017Plastics and Paper in Contact with Foodstuffs 2017
  • January 8, 2018RAI Exhibition
  • January 16, 2018Sival Plant Production Trade Show
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements