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Global Commercial Foodservice Market 2019-2023 | Implementation of New Technologies to Boost the Market | TechnavioA new market research study by Technavio on the global commercial foodservice market projects the market to grow at a CAGR of close to 5% during the period 2019-2023. The commercial foodservice market forecast report provides an in-depth analysis of the market in terms of revenue, top drivers, and emerging market trends. It also includes detailed insights and forecasts for all the market segments across different geographies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190524005064/en/ 
Technavio has published a new market research report on the global commercial foodservice market from 2019-2023. (Graphic: Business Wire) Increasing number of restaurants worldwide With significant growth in the number of people preferring to eat out and the increase in spending by consumers in restaurants, major players in the commercial foodservice market are focusing on strengthening their presence across markets to capitalize on this trend. For instance, restaurants and fast food chains, such as McDonald's, Dominos, and Taco Bell are opening new restaurants across the world. This is increasing the number of restaurants worldwide, thereby, resulting in the growth of the commercial foodservice market during the forecast report. Looking for more information on this market? Request a free sample report Technavio's sample reports are free of charge and contain multiple sections of the report, including the market size and forecast, drivers, challenges, trends, and more. Implementation of new technologies Restaurants across the world are adopting various new technologies to make their operations more efficient and linear. One such technology which is being adopted is Bluetooth-enabled temperature monitoring systems to keep track of the food products and equipment. These systems allow restaurants to measure temperature quickly. Further, there is increasing use of autonomous technologies such as autonomous robotic kitchen assistant that assists chefs in preparing food. Some companies have also developed guest positioning systems that provide the seating position of customers to the servers. The implementation of such advanced technologies will further enhance the growth of the commercial foodservice market size during the forecast period. According to a senior analyst at Technavio, "Apart from the implementation of new technologies, other factors such as the emergence of new packaging for takeaway foods, new marketing campaigns, and increasing mergers and acquisitions will have a significant impact on the growth of the commercial foodservice market during the forecast period." Increasing preference for home-cooked foods Consumers across the world are becoming health-conscious and are increasingly preferring home-cooked food over food from restaurants. Fast food is perceived to be unhealthy as it contains added sugar, carbohydrates, and unhealthy fats. Furthermore, people are becoming more aware of various lifestyle-related diseases, such as diabetes and obesity. All these factors are expected to encourage consumers to shift toward home-cooked foods as it scores higher on hygiene and nutritional front. However, vendors in the commercial foodservice market are trying to cater to consumer concerns by offering healthier menus and better quality and hygiene. Top players in the global commercial foodservice market:
Some of the key topics covered in the global commercial foodservice market include: Market Landscape
Market Sizing
Five Forces Analysis Market Segmentation Geographical Segmentation
Market Drivers Market Challenges Market Trends Vendor Landscape
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190524005064/en/ |
