Food is an essential part of our lives, which is why the way it is grown, processed and transported is worth understanding and improving broadly, the food industry comprises a complex network of activities pertaining to the supply, consumption, and catering of food products and services across the world. The hospitality industry consists of wide category of fields within the service industry that includes lodging industry components, food industry components, recreation sports and entertainment components, transportation industry, and supplementary fields within the tourism industry. The foodservice industry is poised to outpace the economy for the 12th consecutive year with sales expected to reach $632 billion, a 35 percent increase over 2011, according to the national. Food interest rates, taxation, and consumer spending affect the options and opportunities presented in the food industry although there is a slowdown in sales, fast food is a convenience and a necessity to many still.
While some industries seem to get ahead of others, the global factors that affect the economy of an industry must be considered seriously when making plans for business growth sustainable economic growth is defined as the expansion of the productive potentials of an industry in the long run. Factors affect the advancement of fast food industry and with a better management to these circumstances managers can raise profit and remain up-to-date with time a positive correlation was built between per capital income of customers and visit of customers to. Through a pestel/pestle analysis of mcdonald's corporation, management decisions can focus on the most significant trends that influence the food service business and its industry.
The restaurant and food service industry is in crisis fifty-five percent of consumers believe american food production is on the wrong trackthe chain restaurant business model has hit a wall of. These themes will need to be kept in mind when assessing the factors affecting each child's development to help professionals assess the factors affecting a child's development, they have been grouped into four areas. Chapter 1 the food-service industry a history of modern food service the development of modern kitchens and list three factors that affect cooking times.
Factors affecting economic development and growth small the macroenvironmental factors affecting the clothing industry types of economic factors that can affect the fast food industry. Impact of socio conomic and demographic factors on food away from home consumption in the united states radolfo m nayga, jr • and qral capps, jr. Satisfaction in fast food industry quality service, price, environment are used as an independent variables and customers satisfaction use as dependent variable.
The fast food industry generates about $165 billion in revenue annually, based on 2011 market research by ibisworld the research also indicates that about 184,200 fast food businesses operate in. That the food service industry faces can be broadly divided into the following categories: economic /market factors operational factors fragmented supply chain government/ regulatory factors consumers factors economic/ market factors rising food costs: food price inflation is a key factor affecting the food services market in india. One factor that is needed for the development of food service isknowledge technology and economic status are also factors used todevelop food service since egyptian, roman and greek ancient.
Conclusively, these factors are not the only ones that can affect the demand in the hospitality industry but they are like key ones that should be well attended to in order to have a flourishing. In general, lifestyle factors that influence food selection relate to: employment- what you choose to eat may depend on the physical demands of your jobfor example, construction work requires more energy than working in a video store does. Global trends affecting the food service industry today & tomorrow by: douglas k fryett - fryett consulting group i often get asked as to what i believe are some of those key, global trends that are, or will be impacting the global food service industry.