Consumers are kicking the same-old, same-old to the curb in favor of exotic flavors and ethnic cuisines, paving the way for international street foods to eat into more market share.
Optimize or agonize. In a fiercely competitive landscape, where margins are tight and consumer expectations high, today’s foodservice operators seem locked in a state of perpetual hunger for innovative ways to make the best, most efficient use of resources.
The foodservice industry has become a feeding frenzy of options and channels, with competition for share of stomach heating up and operators scrambling for ways to stand out. Emerging concepts are already making an impact, and their momentum puts them on track to transform the foodservice landscape.
Consumer interest in the quality and source of food and beverage ingredients is elevating the profile of wellness-oriented options in the market.
Foodservice is on a hot streak, with global spending in the coming years projected to grow 13% and produce $359 billion in incremental revenue, according to a report by the market research firm Euromonitor International.1