The year 2022 will mark the 20th anniversary of the fall of the Berlin Wall. And what a landmark that was! In 2022, both Germany and the former Yugoslavia—two of the former communist countries that found themselves on opposite sides of that historical event—will celebrate the anniversary of Germany's unification. At the same time, London, Paris, and other global cities will mark the 100th anniversary of the Great War (also known as World War I). This confluence of events will bring many opportunities for business travellers, but perhaps also some challenges, too.
On the culinary front, the hospitality industry has seen unprecedented growth in recent years, even in the midst of the pandemic. According to the 2020 Global Restaurant Market Size and Share Analysis, the best catering in dubai service market value is projected to reach US$12.9 trillion by next year.
This trend is likely to continue into the next decade, fuelled by an ageing population, changing lifestyles, and an increasing appetite for convenience in all areas of life. The food and beverage (F&B) industry, including restaurant chains and food trucks, is one of the most dynamic sectors due to its growth potential. In 2022 alone, the projected F&B market size is expected to be around 276 million USD according to the Global Market Size and Share Analysis report published by Transparency Market Research.
Key Trends and Developments
Looking ahead, here are some of the key trends and developments that will impact the food service industry in the coming years.
Crowd-Pleasing Suits
As we've established, the hospitality industry has seen unprecedented growth in recent years. And what a fabulous way to celebrate every occasion! Whether it's an office party or a family gathering, everyone wants to feel special and cherished, and the gatherings we're talking about usually entail food, so getting a chef to cook something exclusive is certainly one way of adding a sparkle to the occasion. Designing a suit that's tailor-made for catering is exactly what many companies are doing, and the results are superb. Think about it, would you rather spend your birthday party at a restaurant, or hosted at home by your loved ones?
Some of the world's most fashionable and luxurious brands, such as Gucci and Ralph Lauren, have created exclusive menus for restaurants and catering businesses that offer an exceptional dining experience, while also staying true to the brand's aesthetic.
To learn more, check out these food-suitable brands and see why they're popular choices for caterers:
- Gucci
- Ralph Lauren
- Prada
- Mikimoto
- Tom Ford
- Viktor & Večeřský
- Bulgari
- Mansueto
- Burberry
- Dior
Health and Wellness
There's also been an increase in consciousness surrounding health and wellness, especially in the wellness sector, which deals with treating and preventing disease. Many corporate wellness programs have sprouted up, providing attendees with a healthy and happy lifestyle. This has led to an increase in demand for healthy food options, especially among younger consumers.
Many companies are also catering to this trend, providing attendees with healthy snacks and meals so they can maintain a healthy lifestyle. In the coming years, we will likely see more companies adopt a vegan or vegetarian option on their menu.
Eco-Friendly and Sustainable
If you're hosting your event at a hotel, you're certainly aware of the increasing demand for green hotels. Additionally, many clients are looking to reduce their carbon footprint as much as possible, so businesses must now consider how they can contribute to sustainable developments. This trend has led to an increase in demand for more eco-friendly options, from paper straws and plastic water bottles to composting and energy-saving lights.
Many large businesses are leading the way in sustainable developments and are offering their customers green alternatives for their everyday lives. They realize that, as a business, they have a huge impact on the environment and must keep up with the times.
Technology
Finally, businesses must keep up with the times. And what a fascinating time to be a part of the food service industry! We're currently in the midst of a culinary revolution where everyone, from entrepreneurs to food lovers, are wanting to have their cake and eat it too—while also having exceptional dining experiences.
With so much growth potential, this is one industry that certainly stands out as a profitable venture for any business.
Key Research Findings
Keeping up with the aforementioned trends and developments, here are some interesting research findings from a recent study conducted by the research firm, WGCNA Inc.
Growth Potentials
The food service market is expected to grow from its current value of roughly 275 million USD to over 400 million USD by the end of 2025.
In the next few years, the industry will see high growth, with the A.T. Kearney 2022 Global Restaurant Market Size and Share Analysis forecasting a CAGR (Compound Annual Growth Rate) of +7.3%.
Restaurant spending will increase in the coming years, with individuals wanting to indulge themselves more than ever, even as hospitality budgets are squeezed. The rise of the'super host', the extended stay, and shared meals are combining to create a unique style of hospitality that isn't easily replicated.
Forbes has named the food service sector one of the most lucrative industries for investors in 2022. According to the magazine, as the population ages and more individuals want to stay in shape, the F&B industry is set to grow by 2022.
Even during this time of uncertainty, businesses can take advantage of the growing trend towards healthy living and opt for more eco-friendly options.
New Vendors And Emerging Brands
What are the standout brands in this space? Which businesses are carving out a niche, and what are their offerings?
Alicia Silverstone's The Chew, which premiered in 2014, follows the former Sex and the City star as she tries out various restaurants in New York City. The show is a bit of an exaggeration in terms of the amount of food she actually eats—her portions are usually more fit for a TV episode of Friends than an actual dinner party. But her taste-testings are still an intriguing insight into the world of fine dining.
The Chew isn't the only show that showcases various restaurant offerings. TLC (The Luxury Chef) follows renowned chef Curtis Stone as he visits various cities and dishes on the clients and patrons that can afford his exquisite food. Whether it's Venice, California or Pudong, Shanghai, Stone is always testing out new restaurants and eating out at least once a week. In 2022, he will be opening a restaurant in New York City.
Stone's culinary career spans four decades and includes many famous restaurants. He is the owner and head chef of the Stone Restaurant Group. The restaurants embody a modern twist on French cuisine and are known for their exquisite food and attentive service. One of the signature dishes is the bouillabaisse, a French seafood stew. The Group also owns restaurants in London and Abu Dhabi, along with other eateries across America and in Paris.
Stone's culinary career began in the early 1970s when he opened a French restaurant in Chicago. He later branched out to New York City, where he began operating an Indian restaurant, followed by a seafood restaurant. One of his newest ventures is a pop-up bar in New York that serves classic European dishes like gourmet burgers, brussels sprouts, and black forest ham. For more information, visit
- thechewtv.com
- stonerestaurantgroup.com
- twcities.com
- abudabbiesteachingtotheworld.com
- paris-verdure.com
- stone-ny.com
Why 2022?
The next few years will see unprecedented growth in the food service industry, as dining out and staying in shape becomes a priority for consumers. Additionally, the need for eco-friendly products will continue to rise as individuals strive to reduce their carbon footprint.
As our planet's population continues to grow, so does the need to feed everyone. Rising food prices and the subsequent inflation of the cost of living are already beginning to hurt those on low incomes the most.