Dublin, April 18, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific - The Future of Foodservice to 2027" report has been added to ResearchAndMarkets.com's offering.
The report provides extensive insight and analysis of the Asia-Pacific Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.
Total revenue in the Asia-Pacific profit sector reached $1.5 trillion in 2022, showing gradual decline with a compound annual growth rate (CAGR) of 2.2% from 2017-22.. The economic slowdown in the wake of the COVID-19 pandemic brought the sector's value down significantly in this period.
During 2017-22, the travel channel registered a steep decline in value sales, falling at a negative CAGR of 11.8%, due to limited consumer footfall amid COVID-19 restrictions and challenging economic conditions. QSR led the profit sector in terms of number of transactions in 2022. Despite challenging macroeconomic conditions across the region, the channel's number of transactions declined only slightly over 2017-22.
Scope
- The QSR channel was relatively more resilient during 2017-22 than all other profit sector channels. While other channels declined in value terms, QSR achieved a value CAGR of 0.4% in this period. In 2022, takeouts made up 61.2% of the QSR channel's value. Their share more than doubled during 2017-22, rising from 29.1% in 2017 to 61.2% in 2022. Takeouts generated a CAGR of 16.5% in this period.
- Full-service restaurant (FSR) was the largest channel in Asia-Pacific in 2022. In the region, the channel accounted for 52.3% of the profit sector's value in 2022. China was the largest market in the region, with a channel value share of 70.7%.
- The coffee & tea shop's channel's value declined at a negative CAGR of 1% during 2017-22. China was the largest market in 2022, with a value share of 32.1%. The number of outlets generated a CAGR of 6.1% over 2017-22.
- The pub, club & bar channel's value declined at a negative CAGR of 5.5% during 2017-22. India was the largest market in 2022, with a value share of 38.1%. The number of transactions decreased at a negative CAGR of 2.5% in the 2017-22 period, while the number of outlets fell at a negative CAGR of 1.5%.
A selection of companies mentioned in this report includes, but is not limited to:
- McDonald's
- Yum! Brands
- Fujian Wallace Food
- Restaurant Brand International
- Domino's Pizza
- Zensho Holdings
- Skylark Holdings
- Akindo Sushiro
- Starbucks
- Shenzhen Meixixi Catering Management
- Zhengzhou Liang'an Enterprise
- Shenzhen Pindao Food & Beverage Management
- Luckin Coffee
- Country Style Cooking Restaurant Chain
- Inner Mongolia Xiao Wei Yang Chained Food Service
For more information about this report visit https://www.researchandmarkets.com/r/kggj7k
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