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Global food service industry to reach $4.1T by 2026

Provided

September 20, 2021

Amid the COVID-19 crisis, the global market for food service industry, which was $3.5 trillion in 2020, is hit $4.1 trillion by 2026, according to a Global Industry Analysts Inc. study.

The report assessed sales of 424 major players in the food service industry, according to a press release.

The U.S. food service industry is estimated at $962.8 billion this year. China, the world's second largest economy, is forecast to reach a projected market size of $809.3 billion by the year 2026.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.6% and 2% respectively over the analysis period.