Food Away From Home Market Size, Share, Trends, Growth 2032

Food Away From Home Industry Prospective:

The global food away from home market size was evaluated at $4.5 trillion in 2023 and is slated to hit $6.1 trillion by the end of 2032 with a CAGR of nearly 3.4% between 2024 and 2032.  

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Food Away From Home Market: Overview

Food away from home means food that is prepared away from home but which can be consumed away from home. Furthermore, food away from home includes meals & snacks provided by commercial food service establishments and by eateries in non-commercial institutes. For the record, commercial food service includes retail stores, quick service restaurants, cafeterias, buffet, full-service restaurants, and fine dining restaurants. Moreover, non-commercial food service includes schools & colleges and hospitals & healthcare.

Key Insights

• As per the analysis shared by our research analyst, the global food away from home market is projected to expand annually at the annual growth rate of around 3.4% over the forecast timespan (2024-2032)
• In terms of revenue, the global food away from home market size was evaluated at nearly $4.5 trillion in 2023 and is expected to reach $6.1 trillion by 2032.
• The global food away from home market is anticipated to grow rapidly over the forecast timeline owing to a rise in the number of fast-food chains in emerging countries.
• In terms of delivery model, the dine in segment is slated to register the highest CAGR over the forecast period.
• Based on application, the restaurants segment is predicted to contribute majorly towards the global market share in the upcoming years.
• Region-wise, the Asia-Pacific food away from home industry is projected to register the fastest CAGR during the projected timespan.

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Food Away From Home Market: Growth Factors

A surge in the fast food restaurants to boost the global market trends over 2024-2032

A rise in the number of fast-food chains in the emerging countries will contribute majorly towards the global food away from home market expansion in the years ahead. Apart from this, a prominent surge in the working women populace and hectic work schedule has translated into humongous demand for the food away from home.

Additionally, the escalating demand for various food cuisines is anticipated to prop up the scope of the global market. Furthermore, a surge in the globalization and free flow of information globally with the help of web has resulted in growing awareness about various kinds of cuisines, thereby spearheading the expansion of the global market. Flourishing tourist activities has contributed humungously to the expansion of the global market.

Food Away From Home Market: Restraints

Surging product costs can hinder the expansion of the global industry by 2032

A surge in product costs along with unavailability of some of the food products due to supply chain disruptions can impact the growth of the global food away from home industry.

Food Away From Home Market: Opportunities

Rise in the demand for digital technologies can open new growth avenues for the global market over forecast period

The proliferation of digital technologies has led to acceptance of digital equipment among the food service units & customers, thereby opening new growth avenues for the global food away from home market. A surge in the number of cafes, restaurants, food trucks, and bars is anticipated to open new growth avenues for the global food away from home industry.

Food Away From Home Market: Challenges

Low food quality can dampen the growth of the global industry in the foreseeable future

Availability of low-quality foods ordered through food ordering systems is predicted to put a big challenge for the global food away from home industry surge. Apart from this, when food is transported from one place to another, key nutrients, minerals, and vitamins can be lost, thereby further impeding the expansion of the global industry.

Food Away From Home Market: Segmentation

The global food away from home market is divided into delivery food, application, and region.                                         

In delivery model terms, the food away from home market across the globe is bifurcated into dine in, home delivery, and take away segments. Additionally, the dine in segment, which acquired nearly 47% of the global market in 2023, is projected to register the fastest annual rate of growth in the forecast timespan. The expansion of the segment in the next eight years can be due to ability of dine-in delivery model in helping restaurants in providing customers with best food services and ambience.  

Based on the application, the global food away from home industry is divided into restaurants, retail stores & vending, hotels & motels, schools & colleges, and others segments. Moreover, the restaurants segment, which accumulated about 60% of the global market size in 2023, is expected to make notable contributions towards the global market over the analysis timeline. The growth of the segment in the upcoming years can be attributed to rise in the setting up of limited-service & full-service hotels. Apart from this, changing food habits of people and busy lifestyles along with flourishing fast-food sector is likely to boost the segmental surge.

Food Away From Home Market: Report Scope

Food Away From Home Market: Regional Insights

North America is expected to maintain the leadership status in the global market in the upcoming years

North America, which accounted for nearly two-third of the global food away from home market earnings in 2023, is expected to establish dominance in the global market over the ensuing years. In addition to this, the regional market expansion in the next couple of years can be owing to presence of reputed restaurants in the countries of the region and growing trend of eating out in these countries. For instance, reputed restaurants such as McDonald, KFC, Olive Garden, Italian Grill, and Texas Roadhouse are established in the U.S. Apparently, rise in the per capita income, growing popularity of dining-out lifestyle, and rise in the demand for online meal delivery solutions to boost the regional market trends.

Asia-Pacific food away from home industry is anticipated to register the fastest CAGR in the forecast timespan. The progress of the industry in the region can be credited to escalating consumption of fast-food products such as burgers, sandwiches, and pizza in the countries such as China, Japan, Taiwan, South Korea, and India. Moreover, growing intake of fast food by youth and millennial population in the region will proliferate the size of the industry in the region.                 

Key Developments

• In the first half of 2022, Eat Takeaway.com, a key online food ordering & food service delivery firm of Europe, singed a partnership agreement with McDonald to expand its food delivery across Europe.
• In the second half of 2021, Uber Technologies Inc. acquired Drizly for augmenting the food delivery solutions of latter.

Food Away From Home Market: Competitive Space

The global food away from home market profiles key players such as:

• SSP Group Plc
• Chipotle Mexican Grill
• Jubilant FoodWorks Limited
• Compass Group PLC
• Sodexo
• Burger King Corporation
• Bid Corporation
• Aramark
• Zensho Holdings Co. Ltd.
• SATS Ltd.
• Darden Concepts Inc.
• Sysco Corporation
• Yum Brands Inc.

The global food away from home market is segmented as follows:

By Delivery Model

• Dine In
• Home Delivery
•  Take Away

By Application

• Restaurants
• Retail Stores & Vending
• Hotels & Motels
• Schools & Colleges
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa