Global foodservice spending expected to grow 13%.

Global foodservice consumption is more popular than ever, with rapid changes in the way that guests eat and receive their food. Total global foodservice spending is expected to grow 13% across the next five years, producing $359 billion in incremental value. This is driven in part by technology and the mobile evolution – by digitizing the experience, consumers can get meals whenever and wherever they like.

As the individual meal becomes the new value, the lines between retail and foodservice will continue to blur, resulting in service becoming a larger component of every successful model.

With delivery becoming the fastest growing dining occasion across the globe, dine-in experiences (relating to eating in a restaurant) are now being treated as separate foodservice occasions entirely.

Almost 73% of foodservice spend across the previous year was attributed to dine-in occasions. Whilst consumers are still eating out, their reasons and motivations for doing so have changed. As such, consumers are now creating pockets of time to enjoy and appreciate unique restaurant experiences, rather than just ‘eating out’ at their favorite restaurant.

Dive in and read about the voice recognition barista, the vegan victory run, and the unstoppable food halls which can now be found almost anywhere, from high streets to transport hubs and increasingly in shopping centers.

Download the full Foodservice Trends Report here.