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Resetting for Profitable Growth in Foodservice - how to bring consumers back and keep them coming back

2020 was a challenging year for many industries, and within the food industry, the food service and restaurant segment has been impacted significantly. It had been projected that we would see a CAGR of 3.7% in the food service segment during the forecast period 2020-2025, yet we have seen an average decline of over 25% in 2020 alone. Food service businesses around the world confronted the COVID-19 pandemic, forcing them to adjust to a new business environment and adhere to social distancing guidelines. These businesses adopted innovative new products and business practices, resulting in a new wave of restaurant trends. With more vaccine availability in 2021, it will still take a while for the food service industry get back to their forecast growth, or will the patterns of growth and innovation be completely different?