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Foodservice Market Outlook for 2023

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Burger Trends 2023

As the foodservice market continues to evolve each year, industry professionals, restaurateurs, and food service personnel have been looking ahead to 2023, eager to keep abreast of the latest trends and changes in the industry. To that end, first-hand data insights are proving to be essential weapons in their arsenal for staying ahead of the curve and distinguishing themselves within the ever-growing competitive landscape. Brizo is at the forefront of providing data-driven insights and market intelligence to the foodservice sector, with an extensive range of data fields specific to the industry, an in-depth menu database and restaurant technology coverage helping industry professionals stay informed and capitalize on the latest developments in the market.

The foodservice market is expected to expand from its current value of around $735 billion USD in 2021 to $830 billion USD by 2023, according to Technavio. Industry experts anticipate that the rise in consumer demands, digitalization, rapid developments in technology, and an increased number of food delivery services are the main drivers of this growth. Therefore, having access to reliable insights into the market is essential.

Firstly, a significant trend in the foodservice market will be the ongoing rise in consumer demands and the diversifying nature of these demands. Along with an increased emphasis on health and sustainability, consumers will be actively seeking out vegan, vegetarian, and gluten-free menu items, as well as innovative dishes made with regional ingredients. Additionally, the upcoming trend of hyper-personalization, where customers have more choice and flexibility to customize their orders, will remain a driving force in the market.

Secondly, digitalization and rapid technological developments will continue to have a massive impact on the foodservice market. Customers will increasingly order online, making restaurant websites and other platforms an important part of restaurant success. Mobile ordering apps, contactless delivery and payment, as well as artificial intelligence and robotics are also predicted to become commonplace in the industry. The focus on streamlining operations through automation will be a key part of the foodservice market in 2023, allowing restaurant owners to focus their energy and resources on other operational and creative aspects.

Finally, with the growth of delivery services, an increasing number of customers are opting to have meals delivered right to their doorstep. Delivery has quickly grown to become an important part of the foodservice industry and is expected to continue on a steep trajectory in the coming year. As a result, businesses will need to account for delivery costs and fees in their calculations to make sure they remain profitable.

In order to remain competitive in the ever-changing foodservice market, having access to data-driven insights and analytics will be paramount. Accurate and up-to-date information on menu pricing, customer preferences and recent market developments are key to success in the industry, enabling operators to make decisions quickly and confidently.

With the introduction of new technologies, data enrichment is becoming more important to the foodservice industry. Businesses are able to use data and insights to drive operational efficiency, target customers more effectively, and reduce costs. Brizo’s insights help industry professionals maximize their investments and get the most out of their businesses with comprehensive industry intelligence.

The foodservice market is rapidly changing and the trends and developments of 2021 will undoubtedly shape 2023. By understanding the consumers, staying up to date with the latest digital and technological advances, and having access to reliable market insights, operators will be able to equip their teams with the necessary tools and knowledge to take advantage of the latest industry developments.