Food and Beverage Services Market Report 2026

The food and beverage services market size has grown strongly in recent years. It will grow from $4.07 trillion in 2025 to $4.29 trillion in 2026 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to urban population growth, dining out culture, expansion of restaurants, growth in events and catering, affordability of food services.

The food and beverage services market size is expected to see strong growth in the next few years. It will grow to $5.46 trillion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to digital food platforms growth, corporate catering demand, expansion of cloud kitchens, automation in food preparation, rising food consumption. Major trends in the forecast period include expansion of online food ordering, growth of chain food service models, rising demand for catering services, focus on cost efficient operations, standardization of food service quality.

The increasing digitalization of food services is expected to drive the growth of the food and beverage services market in the coming years. Digitalization in food services involves the adoption of online ordering platforms, mobile applications, and digital payment solutions to simplify the ordering process, shorten wait times, and enhance customer convenience. The growing use of digital tools also supports personalized marketing strategies, strengthening customer engagement and loyalty, while consumers increasingly prefer ordering food online for home delivery. For example, in July 2024, according to Bank of America Corporation, a US-based investment bank, the quick-service restaurant sector was projected to reach $316 billion in 2024, representing a 7.1% increase compared with 2023. Therefore, the rising digitalization of food services is fueling the growth of the food and beverage services market.

The increasing popularity of plant-based foods is also expected to contribute to the expansion of the food and beverage services market. Plant-based foods are products that are mainly or entirely sourced from plants, including vegetables, fruits, grains, legumes, nuts, and seeds. Food and beverage service providers play a key role in promoting, preparing, and distributing plant-based offerings to consumers. For instance, in 2024, according to the Plant Based Foods Association (PBFA), a US-based nonprofit organization, retail sales of plant-based foods in the United States reached approximately $8.1 billion, reflecting a 1.3% increase compared with 2023. The data further indicates that plant-based options appeared on menus in 48% of US restaurants and were purchased by 59% of households in 2024. Therefore, the growing demand for plant-based foods is driving the growth of the food and beverage services market.

Major companies operating in the food and beverage services market are increasingly adopting modern technologies to enhance customer experience and boost restaurant sales. These technologies include self-ordering touchscreen kiosks, mobile applications that allow customizable orders and quick payments, and digital entertainment solutions. Self-ordering kiosks and mobile apps enable customers to place orders, tailor meals to their preferences, and complete payments efficiently, improving overall dining convenience while increasing operational efficiency. For example, in April 2023, PepsiCo, a US-based food company, launched the Greenhouse Accelerator Program to support emerging Hispanic-owned food and beverage small businesses. The initiative provides mentorship, funding, and resources to help selected startups grow, with ten finalists participating in a six-month mentoring program and receiving a $20,000 grant to accelerate their business development.

Major companies operating in the food and beverage services market are McDonalds Corporation, Starbucks Corporation, Yum Brands Inc., Subway IP LLC, Dominos Pizza Inc., Restaurant Brands International Inc., Chipotle Mexican Grill Inc., Dunkin Brands Group Inc., Inspire Brands Inc., Jollibee Foods Corporation, Papa Johns International Inc., Chick Fil A Inc., The Wendys Company, Aramark Corporation, Sodexo S.A., Darden Restaurants Inc., Compass Group PLC, Panera Bread Company, Brinker International Inc., Bloomin Brands Inc., Wingstop Inc., Shake Shack Inc., Krispy Kreme Inc., Little Caesars Enterprises Inc., Buffalo Wild Wings Inc., The Cheesecake Factory Incorporated.

Asia-Pacific was the largest region in the food and beverage services market in 2025. North America was the second largest region in the food and beverage services market. The regions covered in the food and beverage services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the food and beverage services market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The food and beverage services market includes revenues earned by entities by providing meals, snacks, and beverages to customer order for immediate on-premises and off-premises consumption. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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