Hyderabad, July 20, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Japan Foodservice Market Report (2023-2028),” the market is estimated at USD 145.25 million in 2023. It is expected to register a CAGR of 0.84% during the forecast period.
The Japanese foodservice market is principally driven by the cumulative frequency of dining out amid time-pressed schedules and the mounting influence of cross-culture dietary patterns due to the strong presence of foodservice providers. The market is also expanding because consumers require more time to cook and eat. Hence, the culture of ready-to-eat food and convenience food is increasing in the region.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 145.25 million |
| Market Size (2028) | USD 151.45 million |
| CAGR (2023-2028) | 0.84% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD million) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Increasing frequency of dining out amid time-pressed schedules. |
| The growing influence of cross-culture dietary patterns. |
Which are the Top Companies in the Japan Foodservice Market?
The Japanese foodservice market is highly competitive, with key market shares held by prominent players.
The noteworthy players holding the Japanese foodservice market are:
- McDonald's Corporation
- Yum! Brands Inc.
- Starbucks Corporation
- Zensho Holdings Co. Ltd
- Skylark Group
- Dunkin' Brands
- MOS Food Services Inc.
- Yoshinoya Co. Ltd
- Matsuya Food Holdings Co. Ltd
- Ichibanya Co. Ltd
- Domino's Pizza
Other Reports That Might Be of Your Interest:
- Russia Foodservice Market Report - Russia's foodservice market is expected to witness a CAGR of 5.2% in the upcoming five years.
- Thailand Foodservice Market Report - The Thai foodservice market is projected to witness a CAGR of 4.19% during the upcoming years.
Key Highlights from the Japan Foodservice Market Report:
Growing Dine-out Habits of Consumers
- The Japanese food industry is projected to witness significant growth while increasing its contribution to the world food trade yearly. Young populations are tech-savvy, exposed to international trends and lifestyles, well-informed, travel widely, and have elevated spending power. Therefore, they drive the growth index of restaurants and the foodservice market.
- The market players are looking for prospects to establish their stores near schools, colleges, and universities since catering to younger people can drive the growth of these companies. The companies are aiming to reduce carbon emissions and open environment-friendly stores.
Full-service Restaurants Anticipated to Dominate the Market
- Japanese tourism has increased since the pandemic, and the number of international visitors has increased since last year. Tourists actively seek traditional authentic Japanese cuisines, above all sushi, along with a great dining experience, which is one of the major factors driving the growth of full-service restaurants.
- French restaurants are also popular in Japan, and until recently, Italian and Spanish restaurants have also grown in popularity. Mexican restaurants are slowly gaining diners too. They provide prospects for US exporters of items such as tortillas, frozen guacamole, and related Tex-Mex ingredients.
What are the Latest Developments in the Japan Foodservice Market?
- In August 2022, Starbucks launched its new fall beverage called Marrone, "Cassis Frappuccino.” The blended beverage presents a combination of earthy chestnut, blackcurrant, and Starbucks' signature coffee.
- In March 2022, Domino's opened its 900th store in Japan. It is the first Domino’s Pizza Enterprises Ltd market to reach the milestone, mere nine months after inaugurating the Company’s 800th store.
Mordor Intelligence has Segmented the Japan Foodservice Market Based on Type and Structure:
- By Type
- Full-service Restaurant
- Quick-service Restaurants
- Cafes and Bars
- 100% Home Delivery Restaurants
- Street Stalls and Kiosks
- By Structure
- Independent Consumer Foodservice
- Chained Consumer Foodservice
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Japan Foodservice Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- France Foodservice Market Report - The France foodservice market is projected to register a CAGR of 2.0% during the forecast period.
- Brazil Foodservice Market Report – The Brazil foodservice market is likely to witness a CAGR of 12.3% in the upcoming five years.
- Indonesia Foodservice Market Report - The Indonesia foodservice market size is estimated at USD 37.93 billion in 2023 and is expected to reach USD 56.88 billion by 2028 at a CAGR of 8.44% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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