CHICAGO, ILLINOIS--(Marketwired - May 19, 2014) - Market Research Company Euromonitor International released today new global data on the consumer foodservice industry.
Global consumer foodservice value increased over 4.6% in 2013, with over US$2.6 trillion dollars in sales. The Middle East, Africa and Asia Pacific led compound annual growth from 2008-2013 with 10.7% and 6.6% respectively. All regions saw growth over this period except for Western Europe, which saw a decline of 1.4%.
According to Euromonitor data, emerging and developed 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, with China now the world's largest foodservice market with over US$510 billion dollars in sales in 2013.
"The importance of emerging market demand continues to grow, even in a challenging macroeconomic environment" said 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."
In 2013, Starbucks, the fifth largest foodservice company, led the top ten with global growth of 9.6% and over US $17.3 billion dollars in sales. Among the top 10 chains, all but two experienced growth in the 2012-2013 year.
"Fast food and coffee shops are still the categories of choice for global chains," said Schaefer. "Global consumers will continue to demand affordable convenience in an engaging environment."
To download a complimentary extract of the data, please visit: http://blog.euromonitor.com/2014/05/global-consumer-foodservice-sales-grow-46-in-2013.html
To watch Michael's foodservice trends recap, please visit: https://euromonitorintl.wistia.com/medias/lrr8birynl
To learn more about our international consumer foodservice research, please visit: http://www.euromonitor.com/consumer-foodservice
About Euromonitor International
Euromonitor International is the world's leading provider for global business intelligence and strategic market analysis. We have over 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
We deliver market research solutions to support strategic planning for today's increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers.
Euromonitor International is headquartered in London, with regional offices in Chicago, Brazil Singapore, Shanghai, Vilnius, Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800 analysts worldwide.