Food & Beverages Trends In 2020

Part
01
of two
Part
01

Food & Beverages Trends In 2020

Three additional food trends for 2020 include immediate service, sustainability, and longevity. Meanwhile, two beverage trends in food sector for 2020 are Ready to Drink cocktails and bright drinks for Instagram.

Two to three trends in foods in food service sector for 2020

IMMEDIATE SERVICE.

  • Consumers anticipate their food to be on demand and require additional services that satisfy their existing needs.
  • This particular trend is not new, but it is predicted to elevate in 2020 to a new level.
  • Consumers who are more strapped for time with hectic schedules, but do not desire to vacate their health objectives, or halt their interest for brand-new ingredients, need food and beverage retailers and manufacturers to extend their attention to them and satisfy their expectations.
  • With less available time for cooking meals, people have been seeking to modify types of purchases and methods that simplify their lives for decades.

SUSTAINABILITY

  • Food waste is a crucial challenge for consumers, as they lack enthusiasm towards the end product.
  • A sensible consumer considers the environmental impacts of food products, taking into consideration the derivation of these products, the amount of energy administered, and develop a desire for reusable or recyclable materials.
  • Transparency is a major factor. Shoppers wish to be familiar with where their food is coming from and are searching for brands/restaurants whose products are not shrouded in mystery, along with those that are reflective of their personal values.

LONGEVITY


Two to three trends in beverages in the food service sector for 2020

READY TO DRINK COCKTAILS

BRIGHT DRINKS FOR INSTAGRAM

Research Strategy:

We selected the food trends by observing a list of food trends in 2020. We chose those that were repeated, considering these were popular trends. We Selected the beverage trends from the only list available for beverage trends for 2020.
Part
02
of two
Part
02

Foodservice Market Size In 2020

The market size of the foodservice sector in the United States is estimated to be $633 billion in 2020.

FINDINGS

  • The market size of the United States foodservice sector is forecasted to be $633 billion in 2020.
  • The United States foodservice industry represents 21.3% of the global foodservice sector and 84.3% of the North American foodservice sector.
  • The primary driver of the market is the increasing digitization of the industry. Organic food demand is also growing rapidly.
  • However, the increased health-consciousness among consumers is also affecting growth as a lot of fast food is not healthy.
  • The major players of the United States foodservice market are "Mcdonald's Corp., Yum! Brands Inc., Burger King Worldwide Inc., Starbucks Corp., Chipotle Mexican Grill Inc., Doctor's Associates Inc., Seven & I Holdings Co. Ltd., Dunkin' Donuts, Sonic Drive-In, Papa John's".

RESEARCH STRATEGY

To fulfill this request, we searched research reports by agencies such as Mintel, Technovia, Mordor Intelligence, Market Line, and Transparency Research; the United States Department of Agriculture; industry portals such as National Restaurant Association; and media sources such as Foodservice News, Total Food, Entrepreneur, and Food Business News. However, none of these sources provided the forecasted market size for 2020. Most of the recent reports have published for years a little ahead of 2020. Not all reports have made this information public either. However, we used one such report to determine the market size of the foodservice industry in 2020.

According to Mordor Intelligence, the United States foodservice sector is expected to grow at a CAGR of 3.7% to $731.8 billion in the period 2019-2024. In other words, the industry revenue in 2023 is forecasted to be $731.8 billion (by 2024).

Using the Omni calculator, and the above data, we determined that the US foodservice sector will generate $632.82 billion by 2020.

According to Statista, the United States foodservice sector will be worth $632.35 million by 2020. This is almost exactly what we estimated using Mordor Intelligence data.






Sources
Sources

From Part 02
Quotes
  • "The US foodservice industry had total revenues of $668.5bn in 2017, representing a compound annual growth rate (CAGR) of 3.2% between 2013 and 2017."
Quotes
  • "The US food service restaurant market is expected to grow at a CAGR of 10% during the forecast period of 2017-2022."
Quotes
  • "United States Foodservice Market market is forecasted to reach USD 731.8 billion by 2024, witnessing a CAGR of 3.7% during the forecast period (2019 - 2024)."