In 2012, worldwide foodservice sales were $2.6 trillion and are projected to reach $3.4 trillion by 2017 (including inflation). Sales growth for 2012 topped $58 billion for restaurants outside of North America.
Foodservice sales are expected to grow most rapidly in Asia Pacific by 39.1% and increase $1.5 trillion dollars in sales between 2012-2017. Latin America follows close behind with an increase of 62.1% and $175.3 billion dollars in sales over that same five-year period. However, North American restaurants are expected to see smaller growth due to fierce competition in a saturated market.
The appeal of international markets is great to many US foodservice firms and some display the largest global growth. Four of the top 25 US and Canada based chains garner more than half of global sales from outside their home markets.
“Our foodservice research offers real insights from every major market. This scope gives us a unique view of the most important trends playing out at the global level .” said Michael Schaefer, Head of Beverages and Foodservice at Euromonitor International. “There is real and growing demand for unique, modern foodservice experiences, with many of the operators on this list leading the way.