(I-BusinessNews.Com, June 11, 2021 ) The France Foodservice Market size is estimated to reach $2.75 Billion by 2026, growing at a CAGR of 4.1% during the forecast period 2021-2026. The food service industry encompasses any establishment that serves food to people outside their home. This includes restaurants, carry out operations, cafeterias, university dining halls, catering and vending companies, hotels and inns, and rehab and retirement centers. Increasing consumer preference for various cuisines is attracting food & beverage supply chains, including domestic and international players are some of the factors driving market growth during the forecast period 2021-2026.
France Foodservice Market Segment Analysis – By Type
Based on Type, France Foodservice Market is segmented into Full-Service Restaurants, Self Service Cafeterias, Street Stalls/Kiosks, Fast Food, Cafes/Bars, and, 100% Home Delivery/Takeaway. The 100% Home Delivery/Takeaway segment holds the largest share in terms of revenue in 2020. This is owing to the rising popularity of pizza in France has encouraged international companies to expand in the country, along with the steady competition from local players. Also due to COVID 19 and lockdown home delivery as most preferable and better option for consumer. The Cafes/Bars segment is set to be the fastest growing CAGR 4.93% during the forecast period 2021-2026. This is owing to the growing preference for easily accessible, hassle-free, healthy and hygienic food and the increasing demand for coffee shops and bars in the area for teenagers, families, and young professionals to relax.
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France Foodservice Market Segment Analysis – By Structure Type
Based on Structure type, France Foodservice Market is segmented into Chained Outlets and Independent Outlets. The Chained Outlets segment held the largest share in 2020. This is owing to the Chained stores are often easily found near highways, shopping centers and heavily populated urban or tourist areas, with a growing preference for hassle-free, nutritious and hygienic food that is readily accessible. However, The Independent Outlets segment is set to be the fastest growing CAGR during the forecast period 2021-2026. This is owing to increasing consumer preferences for food products and the rising disposable income of the region and Improvement in economic conditions is set to fuel the segment growth during the forecast period 2021-2026.
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France Foodservice Market Drivers
The growing popularity of pizza in France
France has one of the highest consumption rates of pizza per capita worldwide. Dynamism is primarily powered by the popularity of Domino’s Pizza and Pizza Hut’s 100% home delivery/takeaway chains. The increasing popularity of pizza in France, together with the steady competition from local players, has encouraged multinational companies to expand across the region. Moreover, the major corporations now provide a 30-minute pizza delivery service, making it readily available to customers in metropolitan areas.
France Foodservice Market Challenges
The fast food industry is one of the most competitive markets, but there is a silver lining to this high competition. This high level of competition and rivalry between brands continually stimulates companies to introduce creativity and preserve quality. Every fast food industry player is struggling to stand apart from the competitor. From targeted marketing campaigns to smart kitchen technology and the execution of company strategies, advanced data analytics can do something for the fast food industry.
France Foodservice Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the France Foodservice Market. Key companies of this market are McDonald’s, Groupe Bertrand, Agapes, AgapesAreas (Elior), Yum! Brandsl, Le Duff, Amrest, Groupe Holder, Buffalo Grill, Burger King and among others.
France Foodservice Market Developments:
In November 2020, Fast food giant McDonald’s announced that a new plant-based burger named “McPlant” would be launched to cater to the growing number of people who do not eat meat.
Key Takeaways
The factors such as the growing popularity of pizza in France have encouraged international companies to expand in the country, along with the steady competition from local players lead to growth of the market during the forecast period 2021-2026.
Due to COVID 19, the increasing demand of home delivery is driving the growth in 2020.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the France Foodservice Market.
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