International foodservice chains sales total US$59.9 globally in 2014
Market Research Company Euromonitor International and Nation’s Restaurant News released the top 25 performing international restaurant chains outside of North America. In 2014, the Asia-Pacific dominated this exclusive list with $47.4 billion in sales.
In the next five years, Euromonitor predicts Asia-Pacific’s foodservice sales to rise by 38.7 percent by 2019 with US$ 1.5 trillion dollars sold. In particular, China continues to lead the region in sales and is expected to remain one of the fastest-growing Asian markets over the next five years. This overall growth in the Asia-Pacific region makes it the second largest growth market in the world for foodservice operators.
Behind Asia-Pacific, Latin America and Western Europe are set for the largest growth in foodservice. Euromonitor expects chain-sales to grow 114.3 percent by 2019 in Latin America and 22.6 percent Western Europe, respectively.
International markets are important to operators within the foodservice industry as they provide potential for growth outside of the stagnant U.S. For example, Asia-Pacific’s total foodservice sales in 2014 totaled US$1.1 trillion while North America’s 2014 foodservice sales only totaled US$ 556.3 billion. Understanding the tastes and trends of consumers in the region will also help companies decide whether or not their concept will do well.
“Our foodservice research offers real insights from every major market and 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. “As this year’s International Top 25 list shows, the number of truly global foodservice players continues to grow and we expect the pace of growth and innovation will continue to accelerate going forward.”
To download the list, please visit: https://bit.ly/1MTaVAB
