Global Foodservice Market to Reach Over USD3978.83 Billion By 2026

According to TechSci Research report, “Global Foodservice Market By Type (Dining Service (Hotels, Restaurants), QSR (Quick Service Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others), By Ownership (Independent Outlets vs. Chained Outlets), By Region, Competition, Forecast & Opportunities, 2026”, the global foodservice market is anticipated to grow from USD3093.96 billion in 2020 to USD3978.83 billion in 2026 at a CAGR of 4.72%. The growth is expected as the companies are rearranging their operations to recover the loss that occurred because of COVID-19, which led to the tentative shutdown of commercial activities to maintain the social distancing which resulted in operational challenges and a huge loss to the foodservice industry. However, it is expected that the foodservice market will recover from the loss across the forecast period as it is an unpredicted event, and it could not be defined through the ongoing weakness in the foodservice market or the global economy.