- According to recent research by Fortune Business Insights, the global food service market is expected to reach 5,194.60 billion by 2029 at a CAGR of 10.76%. This growth is due to many having a rise in their disposable incomes, evolving lifestyles in millennials and the increase of restaurants/ fast-food chains in the United States. Companies including McDonald’s, Dominos, and Starbucks were profiled in the report.
Source: Globe Newswire. Read the full press release here.
- The first container ship on the first-ever China-Scotland direct sea shipping has started its travels back to China. The container is carrying many Scottish products back to the Chinese market. The route links Ningbo-Zhoushan Port in East China’s Zhejiang Province, Dongguan Port in South China’s Guangdong Province with the United Kingdom’s Liverpool and Greenock. Peel Ports Group, the operator of Greenock Ocean Terminal, shared in an interview with Global Times that “The service will cut the shipping time by one-third from that of more traditional lines”.
Source: Global Times. Read the full article here.
- According to recent data from RMS, 84% of millennials ordered restaurant delivery in the past month and almost one in three visited a quick-service restaurant more. On the flip side, 48% of boomers are spending less on restaurants today as compared to last year.
Source: QSR Web. Read the full article here.