Restaurants and Mobile Food Services Market Size, Share, Growth & Industry Analysis, By Type (Full-Service Restaurants (FSRs), Fast Food Restaurants/Quick-service restaurants, Cafés and bars & Others), By Service Models (Dine-in, Takeout/Delivery, Drive-Thru), By Business Model, and Regional Analysis, 2024-2031

Restaurants and Mobile Food Services Market Size

The global Restaurants and Mobile Food Services Market size was valued at USD 2,631.69 billion in 2023 and is projected to grow from USD 2,756.70 billion in 2024 to USD 3,955.55 billion by 2031, exhibiting a CAGR of 5.29% during the forecast period. Increasing adoption of online food delivery services and changing consumer preferences for experiential dining is augmenting the market.

In the scope of work, the report includes services offered by companies such as Restaurant Brands International Inc., McDonald’s Corporation, Brinker International, Subway IP LLC, Chipotle Mexican Grill, Darden Concepts, Inc., Bloomin’ Brands, Inc., Yum China, THE GRILLED CHEESERIE, World Famous House of Mac, and others.

The increasing use of social media platforms presents a significant opportunity for the global restaurants and mobile food services market. Social media platforms have transformed the way businesses interact with customers by offering an unparalleled avenue for marketing, brand building, and customer engagement.

Platforms like Instagram, Facebook, and TikTok are particularly influential in the food industry, where visual appeal plays a critical role. Restaurants and mobile food services leverage these platforms to showcase their dishes, promote special offers, and share customer testimonials, which significantly enhance their visibility and attract new customers.

• For instance, in July 2024, GrubMarket, an enterprise AI solutions provider for the U.S. food supply chain, launched its GrubAssist mobile apps for iOS and Android. These apps offer deep insights, intelligent analysis, and automated order processing, marking a significant step in GrubMarket’s mission to revolutionize the food supply chain with advanced technology.

Additionally, social media platforms facilitate targeted advertising, enabling businesses to reach specific demographics based on location, preferences, and behavior. The interactive nature of these platforms also facilitates real-time feedback, helping businesses to adapt quickly to customer needs and trends. User-generated content, such as customer reviews and photos, further amplifies brand reach and credibility. Overall, the strategic use of social media drives customer loyalty, increases sales, and competitively positions businesses in a saturated market.

Restaurants and mobile food services cover a broad segment of the foodservice industry, providing a variety of dining options to consumers. Restaurants are establishments where food and beverages are prepared and served to customers on-site, offering a wide range of cuisines, from fast food to fine dining. These can be further categorized by type into casual dining, fast-casual, and quick-service restaurants, each with its unique service model and target audience.

Mobile food services, on the other hand, refer to food trucks, street vendors, and other mobile units that offer food on the go. This segment has gained popularity due to its flexibility, lower operational costs, and the ability to reach a broader customer base in various locations. Service models in this market vary widely, from traditional dine-in experiences to takeout, delivery, and drive-thru services.

Establishment of ghost kitchens and virtual restaurants, which operate without a physical dining space and focus exclusively on delivery, is also shaping the market. Together, restaurants and mobile food services play a crucial role in meeting the diverse and evolving food preferences of consumers worldwide.

Analyst’s Review

The global restaurants and mobile food services market is characterized by intense competition and rapid evolution, with key players continuously updating their strategies to maintain and enhance their market position. Companies in this market are increasingly focusing on diversifying their service offerings, incorporating advanced technology, and expanding their digital presence to meet changing consumer expectations. The integration of online ordering systems, delivery services, and contactless payment options has also become a critical growth driver, particularly in the post-pandemic landscape.

• For instance, in June 2024, London-based private equity firm, Finnest, acquired a majority stake in cloud kitchens-focused startup Kitchens@ with a USD 160 million investment, bringing the company’s post-money valuation to USD 305 million. This follows a USD 65 million investment by Finnest announced by the Bengaluru-based firm in December 2023.

Additionally, with a growing emphasis on sustainability and health-conscious offerings, many companies are adopting eco-friendly practices, such as reducing plastic use and sourcing locally-produced, organic ingredients. Current market growth is also fueled by its expansion into emerging economies, where rising disposable incomes and urbanization are driving the demand for diverse dining experiences.

However, to remain competitive, companies must prioritize innovation, customer engagement through digital channels, and operational efficiency. Ensuring food safety, maintaining high standards of service, and navigating regulatory challenges remain imperative for sustained success in this dynamic market.

Restaurants and Mobile Food Services Market Growth Factors

The rising popularity of plant-based and sustainable food products is a powerful driver in the global market. As consumers become more health-conscious and environmentally aware, the demand for plant-based alternatives and sustainably sourced ingredients has surged. This shift has been brought by a growing awareness of the environmental impact of traditional meat production, concerns about animal welfare, and the health benefits associated with plant-based diets. Restaurants and food service providers are responding to this trend by expanding their menus to include vegan and plant-based options, as well as emphasizing locally sourced and organic ingredients.

According to Assocham.org, India’s plant-based meat market was set to surge from USD 30-40 million in 2023 to USD 500 million in 2024, while the plant-based dairy sector was expected to grow from USD 21 million in 2023 to USD 63.9 million by 2024. The report also suggested that the overall vegan food market is projected to grow at an 11.32% CAGR between 2022 and 2027.

The focus on sustainability is further enhanced by initiatives such as reducing food waste, use of eco-friendly packaging, and fair trade practices. By aligning their offerings with these consumer preferences, businesses tap into a growing market segment, enhance their brand reputation, and contribute to global sustainability efforts.

A significant challenge for the restaurants and mobile food services market is ensuring compliance with stringent food safety and hygiene regulations. The complexity of these regulations, which vary by region and type of service, places a heavy burden on businesses to maintain consistently high standards. Compliance involves meticulous attention to food handling, storage, preparation, and serving practices to prevent contamination and ensure customer safety.

For mobile food services, this challenge is amplified by the need to adhere to regulations in multiple locations, often with varying local requirements. Failure to comply can result in dire consequences, including fines, legal actions, and reputational damage. To mitigate this challenge, businesses must invest in comprehensive training programs for staff, implement robust quality control systems, and stay updated on regulatory changes.

Leveraging technology, such as digital monitoring systems and automated compliance tracking, can also streamline processes and reduce the risk of non-compliance. By prioritizing food safety and hygiene, companies not only protect their customers but also build trust and loyalty, which are essential for long-term success.

Restaurants and Mobile Food Services Market Trends

The rise of ghost kitchens and virtual restaurants represents a significant trend in the global restaurants and mobile food services market. Ghost kitchens, also known as dark kitchens or cloud kitchens, operate without a traditional dine-in space, focusing exclusively on fulfilling online delivery orders. This model has gained traction due to its cost-effectiveness, as it eliminates the overhead costs associated with running a physical restaurant. Virtual restaurants, on the other hand, exist solely online, often operating out of shared kitchen spaces, and serve a specific food niche or cuisine.

• In January 2024, ITC expanded its cloud kitchen business, initially piloted in Bengaluru, to Chennai, with plans to enter Mumbai, Delhi, and Kolkata. The conglomerate offers North Indian meals and bakery products via food delivery apps, aiming to scale operations across key metropolitan areas.

The surge in online food delivery services has fueled the growth of these concepts, as consumers increasingly prioritize convenience and variety in their dining choices.

Ghost kitchens and virtual restaurants offer businesses the flexibility to experiment with new menus, brands, and concepts without the financial risk of launching a full-scale restaurant. This trend is particularly appealing in urban areas where real estate costs are high, and consumer demand for quick, quality food is ever-growing. By embracing this model, businesses adapt to changing market dynamics, expand their reach, and optimize operational efficiency in the evolving food service landscape.

Segmentation Analysis

The global market is segmented based on type, service models, business model, and geography.

By Type

Based on type, the market is categorized into full-service restaurants (FSRs), fast food restaurants/quick-service restaurants, cafés and bars, food trucks and mobile vendors, and others. The full-service restaurants (FSRs) segment captured the largest restaurants and mobile food services market share of 44.67% in 2023.

FSRs are characterized by a comprehensive dining experience that includes table service, a diverse menu offering, and a major focus on ambiance and customer service. The popularity of FSRs is further fueled by the growing trend of experiential dining, where customers are looking for unique and memorable experiences through themed restaurants, chef-driven concepts, or fine dining establishments.

Additionally, the recovery of the hospitality industry post-pandemic has seen resurgence in the demand for dine-in experiences, thereby contributing to the growth of the segment. Furthermore, FSRs often cultivate a loyal customer base through personalized service and high-quality offerings, which is aiding the growth of the market.

By Service Models

Based on service models, the market is classified into dine-in, takeout/delivery, and drive-thru. The takeout/delivery segment is poised to record a staggering CAGR of 5.56% through the forecast period.

The appeal of takeout and delivery services has grown significantly among consumers, particularly in urban areas where busy lifestyles and time constraints make dining out less feasible. The proliferation of food delivery apps and platforms has made it easier for consumers to order from a wide range of restaurants, thereby stimulating the growth of the segment.

Additionally, the integration of technology, such as real-time tracking, contactless delivery, and personalized recommendations, has enhanced the user experience, making takeout and delivery services increasingly appealing. Furthermore, restaurants are increasingly optimizing their operations to cater to this surging demand, with many investing in ghost kitchens and streamlining their menus for delivery.

By Business Model

Based on business model, the market is divided into standalone, and franchise and hotel/restaurant chains. The franchise and hotel/restaurant chains garnered the highest revenue of USD 1,692.96 billion in 2023. This notable expansion is largely attributed to the scalability and brand recognition that franchises and established chains contribute to the restaurants and mobile food services market. These entities benefit from a well-established brand reputation, standardized operational procedures, and a consistent customer experience, which fosters customer loyalty and promotes repeat business.

Franchises, in particular, offer the advantage of expanding rapidly across different geographies while maintaining uniform quality and service standards. This scalability is further enhanced by robust supply chain networks and economies of scale, enabling them to operate efficiently and at lower costs compared to independent restaurants.

Additionally, hotel and restaurant chains often possess the financial resources to invest in advanced technologies, marketing strategies, and customer engagement initiatives, which support their revenue growth. The ability to offer diverse menu options that cater to regional tastes, combined with the convenience of multiple locations, further contributes to their market dominance.

Furthermore, these chains are increasingly focusing on sustainability and innovation, such as integrating plant-based menu items and adopting digital ordering platforms, which resonate with current consumer trends and bolster their market position.

Restaurants and Mobile Food Services Market Regional Analysis

Based on region, the global market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

Asia-Pacific restaurants and mobile food services market accounted for a significant share of 38.56% and was valued at USD 1,014.78 billion in 2023. This significant market share is largely attributed to the region's vast population, rapid urbanization, and rising disposable incomes, which have led to an increased demand for diverse dining options.

Countries such as China, India, and Japan are at the forefront of this growth, mainly due to their rich culinary traditions and burgeoning middle-class population. This demographic shift is fueling the expansion of both traditional and modern food service outlets. Moreover, the region has seen a surge in the adoption of mobile food services, particularly in urban centers where street food culture is firmly established.

• For instance, in July 2024, the Indian Food Services Industry, valued at USD 6.83 billion, is forecasted to grow to USD 9.32 billion by FY28. This forecast, provided by the National Restaurant Association of India (NRAI), indicates a CAGR of 8.1%.

Additionally, the growing influence of Western food trends, coupled with the rising popularity of plant-based and health-conscious dining options, has bolstered regional market growth. The integration of technology, such as online ordering and delivery platforms, has played a crucial role in expanding the reach of restaurants and mobile food services across Asia-Pacific. Moreover, the region's hospitality industry, augmented by the proliferation of international hotel chains, continues to stimulate demand for high-quality food services, thereby reinforcing Asia-Pacific’s leading position.

Europe is expected to grow at a robust CAGR of 5.41% in the forthcoming years. This rapid growth is propelled by the increasing demand for diverse and high-quality dining experiences, particularly in urban areas where consumers are seeking both traditional and innovative food options. Furthermore, the region's strong tourism industry plays a pivotal role, as travelers contribute significantly to the revenue generated by the food service sector.

Additionally, there is a growing trend toward health-conscious and sustainable dining, with consumers increasingly favoring restaurants that offer organic, locally-sourced, and plant-based menu items. The rise of digital platforms and food delivery services has further supported regional market growth, making it easier for consumers to access a wide range of dining options.

Competitive Landscape

The global restaurants and mobile food services market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Manufacturers are adopting a range of strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, to strengthen their market standing.

List of Key Companies in Restaurants and Mobile Food Services Market

• Restaurant Brands International Inc.
• McDonald's Corporation
• Brinker International
• Subway IP LLC
• Chipotle Mexican Grill
• Darden Concepts, Inc.
• Bloomin’ Brands, Inc.
• Yum China
• THE GRILLED CHEESERIE
• World Famous House of Mac

Key Industry Developments

• August 2024 (Expansion): Subway signed a master franchise agreement with Convenience House Schweiz AG. This agreement aims to expand its presence in Switzerland and Liechtenstein, with plans to open over 70 restaurants within the next seven years, thereby more than doubling its exisiting footprint in the region.
• July 2024 (Expansion): Odd Burger Corporation launched mobile food operations at the Calgary Stampede. This initiative includes food trailers and trucks designed for high-output events, providing new franchise opportunities beyond traditional locations. This expansion aims to increase brand awareness and support existing brick-and-mortar stores.

The global restaurants and mobile food services market is segmented as:

By Type

• Full-Service Restaurants (FSRs)
• Fast Food Restaurants/Quick-service restaurants
• Cafés and bars
• Food Trucks and Mobile Vendors
• Others

By Service Models

• Dine-in
• Takeout/Delivery
• Drive-Thru

By Business Model

• Standalone
• Franchise and Hotel/Restaurant Chains

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • U.K.
  • Spain
  • Germany
  • Italy
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America