Please enable JavaScript to read this content. At a consultative forum that brought together lobbyists in the trade and retail sectors, the Retail Trade Association of Kenya (Retrak) chief executive Wambui Mbarire raised the question: Whom are we selling to when we export Kenyan goods? The premise is that whenever local goods are exported, Kenyans in those markets are the ones expected to consume them. She, however, opined that this is not always the case. Giving an example of Choco Primo, a product manufactured by Trufoods Ltd, a local firm and Cadbury produced by a British multinational, she said the chances of Kenyans picking the former off the shelf are higher compared to a foreigner. “The owner of Tuskys used to tell me that the reason he won’t sell out his business is because he wanted to open a branch in Nigeria or Ethiopia and stock Kenyan goods in those countries,” she said. This was to enable Kenyans in those countries to buy the items and introduce the products to the locals who will appreciate the quality hence growing its demand. Tuskys however collapsed after the death of the founder. “These are the things people pack in their suitcases when they are travelling back,” she said. For Ms Mbarire, the best bet in growing exports is to target Kenyans in those markets. “I feel we need to look inward more so that we strengthen the entire value chain. How do we ensure, to begin with, that a Kenyan knows it is a Kenyan product and starts interacting with it before we say we can now export?” she posed. She said this way, local products will be promoted by Kenyans in foreign markets. “So that when we take these products in markets which we have agreements with, Kenyans who stay in those economies will buy and circulate, boost demand and create a larger export market,” said Ms Mbarire. Ms Mbarire’s theory may be right considering the challenges many Kenyans living overseas face when looking for Kenyan products or any that might taste similar to those back home. “Just curious, watu mko USA which sausages are you buying that taste similar na ile ya Kenya’s farmers’ choice’ (Just curious, those who are in the US, which sausages are you buying that tastes similar to those by Kenya’s Farmers Choice)?” reads a recent post on Lets Cook Kenyan Meals, a social media group where Kenyans share food-related ideas. The US, which Kenyan products have access to through the African Growth and Opportunity Act (Agoa) and an EPA (Economic Partnership Agreements) that is negotiating, is the country where most Kenyans immigrate. This figure stood at 157,000 according to 2020 data from the International Organisation for Migration (IOM). The United Kingdom (UK) has 139,000 Kenyan migrants, 34,000 in Uganda, 29,000 in Canada, 25,000 in Mozambique, another 25,000 in Australia, 24,000 in Tanzania, 20,000 in South Africa, 17,000 in Germany and 10,000 in South Sudan. According to the 2024 Economic Survey Report by the Kenya National Bureau of Statistics (KNBS), in 2023, export earnings grew by 15.4 per cent to Sh1.007 trillion. Stay informed. Subscribe to our newsletter The report states that the net effect was the narrowing of the trade balance from a deficit of Sh1.617 trillion in 2022 to a deficit of Sh1.604 trillion in 2023. Tea exports increased from 551,804 tonnes in 2022 to 564,545 tonnes in 2023. The amount of coffee and unroasted beans exported stood at 48,858 tonnes in 2023 a slight increase from 48,301 tonnes in 2022. The amount of exported meals and flours of wheat shot to 27,209 tonnes in 2023 from 2,559 tonnes in 2022. The report breaks down the performance of domestic exports from 2019 to 2023 which shows an increase in volumes for most commodities. It details that the volume of exported horticultural products increased by 168,900 tonnes to 772,700 tonnes in 2023 reflecting a 28.0 percentage increase. “Other major export commodities that recorded increases in export volumes included cement, edible products and preparation, salt, iron and steel, essential oils, and tea which rose by 39.1 per cent, 35.9 per cent, 22.5 per cent, 18.8 per cent, 16.8 per cent and 2.3 per cent, respectively,” the report says. The report adds: “Soda ash and titanium ores and concentrates exhibited the highest decline in export volumes from 284,700 tonnes and 424,900 tonnes in 2022 to 216,200 tonnes and 293,100 tonnes in 2023, respectively.” State Department for Industry Principal Secretary Dr Juma Mukhwana notes that if Kenya is to export more, then there is also a need to produce more. “This is why the government is determined to expand manufacturing from the current 7.3 per cent to 20 per cent of gross domestic product (GDP) by 2030,” he noted. Dr Mukhwana said the State Department of Trade has done its part in opening up markets for Kenya through negotiations of the EPAs with economies such as the UK, European Union and the US. “But are we making products that will be accepted in those markets?” he poses. “Sometimes it becomes difficult for a Kenyan to make a product that will easily sell within the European Union (EU). Some of these issues become capacity building (issues) that we need to address.” The PS said Kenya has the necessary skilled workforce and physical infrastructure to grow its manufacturing, adding these opportunities and players should work in tandem. “So that we do not open up a European Union market, and we look at the data three years later down the line and the exports have not grown,” he said. “We agree we have new markets. The issue we need answers to is where are these products (for exports) going to come from?”United by Water. Flowing as One.
Jeeno Thitikul has a $4M finish to win LPGA finale and Maverick McNealy wins first PGA Tour titleNoneApart from the resounding victory by the NPP, the most significant election outcome is the remarkable change in the voting pattern of the Tamils in the North, the East, and the Central province not to mention Colombo that brought defeat to most of the Tamil political stalwarts like Sithatharan, Sumanthiran, Palani Thigambaram, Mano Ganeshan et al. This is the first time that such a change has happened in a general election where usually the ethnic political parties hold sway over minority votes. It is of vital importance for everybody including Tamil politicians, the present government, international community, hegemonic powers, ultra-nationalists and separatists to understand and correctly interpret this change in the Tamil political fabric. The decisive factor that was apparent in the pre-election period was the need for a change which manifested in a weaker form at the presidential election that brought in a new president with 42% of the national vote with the majority of Tamils voting against the NPP candidate. In less than two months the whole picture had changed and a majority of Tamils who did not vote for the NPP at the presidential election took the unprecedented step of going against their own ethnic parties and voted for the NPP. Although it appears to be a sudden change of attitude obviously such changes on such a wide scale cannot happen overnight. The need for a system change must have been slowly and steadily growing in the minds of Tamils over a period of time, like it had in the Sinhalese. The latter was obviously weary of suffering under the governments of the two major political parties since independence. The former however had hitherto been loyal to their ethnic parties who pursued divisive communal politics appealing to the ultra-nationalist sentiments of the Tamils. What was the reason for the Tamils to change in this manner? Presidential election may have shown the Tamils that the Sinhalese had decided to bring about a radical change. This would have been the cue for them to come out into the open and demonstrate the change that has been slowly taking place in their minds. The change that appeared to have taken place in less than two months was probably catalyzed in this manner. Tamils suffered during the thirty-year war. It is probable that the new generation of Tamils have realised the futility of war and confrontation and decided to chart a different course and deviate from the main sociopolitical stream from the time of independence though there were times of convergence and cooperation albeit of short duration. Independence and universal franchise have driven a wedge between Sinhala and Tamil leaders which was rather unfortunate for they were together in the struggle for Independence. Tamil politicians enjoyed parity of political power and suddenly they realized that their privileged position was in danger due to universal franchise which would make them a minority in the parliament. They could not reconcile with the fact that they were representatives of a minority community. What is most unfortunate is that they could not see the opportunities that were there for them to play a vital role in the development of the whole country. The mistake the Tamil leaders committed at that time was to abandon the opportunity that was available to jointly participate in the central government and contribute to the development of not only the Tamils but also the whole country and instead choose the narrow parochial path of communal politics. This blunder has continued to plague the country and even caused the birth of terrorism and a bloody war. These historical mistakes must have dawned on the new generation of Tamils who, like the Sinhalese want a change in their lives which could come with economic development rather than ultra-nationalist dogma. Further they may have realized the fact that Tamil ultra-nationalism was flawed, unjust, parochial and does not belong in the modern world. Communal barriers have to be breached to achieve connectivity, interaction and networking which are capable of opening new vistas in the modern electronic era. All communities who have made Sri Lanka their home must unite and develop their country. The absence of this unity may have been one of the reasons for the country to lag behind in economic development and finally end up being bankrupt which would have affected all communities alike. In this regard the Tamils have taken the first step and it is now up to the other communities to suitably respond. The government must know that the Tamils have significantly contributed to their massive victory. The government must understand what these Tamils who have rejected their own political parties and leaders want. They, too, like the Sinhalese are affected by economic mismanagement and poverty. Their problems are same as those of the Sinhalese majority. All communities are in the same boat. Tamils have realised this truth and would want urgent attention to their immediate needs. Their nutrition, health and education should receive immediate and sufficient attention. Tamils have abandoned their own parties and embraced the governing party expecting urgent redress to their burning problems. There is a lesson for the international community as well, especially for the imperialist western powers. The latter had made use of the lack of unity among the communities to destabilise the country in pursuance of their geo-political ambitions in the Indian Ocean region. The LTTE was a tool in their hands, and after the demise of its leader, other separatists moved in to fill the vacuum. The western powers must realise the futility of such policies in view of the radical changes taking place within the mind-set of the Tamils. Tamils may no longer see the Sinhalese as their oppressors and the Sinhalese may not harbour the fear that Tamils are demanding a separate country. It is hoped that the time may come when the Tamils realise that the whole country belongs to all communities and it is their duty to participate in the development of the whole and not just the North and parts of the East. True Tamil national leaders may emerge who would want to share power at the centre rather than at the periphery and contribute to the governing of the whole country. It is hoped that this is the end of divisive communal politics and the beginning of a new era of unity and prosperity. N. A. de S. Amaratunga
‘Please get rid of Terry Bradshaw’ say Fox NFL Sunday fans after legendary host stumbles over his words on pregame showLandspace is expected to debut the enhanced version of its ZhuQue-2 rocket this week, and there are rumors that the Chang Zheng 12 rocket will take its maiden flight at the week’s end. Roscosmos is due to launch a highly classified mission from the Plesetsk Cosmodrome in Russia, while four Falcon 9 missions are expected this week from all three of SpaceX’s active pads in the United States. The first of these four Falcon 9 missions, Starlink Group 12-1, launched in the early hours of Monday morning and became the 400th orbital mission flown by Falcon 9 to date. Furthermore, Group 12-1’s launch also set a new record for the fastest booster turnaround time, with Falcon booster B1080 beating the previous record (21 days, set by B1062 two years ago) with a turnaround of 13 days and 12 hours. Falcon 9 Block 5 | Starlink Group 6-76 A Falcon 9 is expected to lift off from Launch Complex 39A (LC-39A) at the Kennedy Space Center in Florida on Monday, Nov. 25, at 10:35 PM EST (03:35 UTC on Nov 26). Onboard will be another batch of Starlink v2 Mini satellites for the sixth and largest shell of the internet satellite constellation. The booster supporting this mission has not yet been confirmed but is expected to land on the autonomous droneship A Shortfall of Gravitas, which will be stationed approximately 600 km southeast of the Cape in the Atlantic Ocean. As of the recent Starlink Group 12-1 mission, SpaceX has launched over 7,400 Starlink satellites into orbit, of which 668 have deorbited. ZhuQue-2E is rolled to the pad. (Credit: Landspace) ZhuQue-2E | Unknown Payload The upgraded ZhuQue-2E (ZQ-2E)variant of Landspace’s medium-sized ZhuQue-2 (ZQ-2) rocket is expected to fly on its maiden flight this week. Utilizing liquid methane and liquid oxygen as propellants, ZQ-2 became the first methane-burning rocket to reach orbit almost two years ago in December 2022, and despite an issue with the upper stage on its demo flight, two successful launches followed last year, placing four payloads into Sun-synchronous orbit. ZQ-2E is expected to launch on Wednesday, Nov. 27, at 02:00 UTC from Site 96 at the Jiuquan Satellite Launch Center in China, with a launch window lasting a little over an hour. The two payloads onboard have not yet been confirmed but could include two more test satellites for the Honghu constellation. Two 50 kg satellites were lofted by a ZQ-2 last December to test different Hall-effect and ion thrusters. Indications are that the payloads will be deployed approximately eight and a half minutes into the mission, targeting a 300 by 500 km low-Earth orbit inclined 50 degrees. The 47.3 m tall vehicle was rolled horizontally to the pad on Nov. 22 following successful static fire tests of its second stage a month prior. These also tested and verified the subsystems and propellant loading processes for the rocket. ZQ-2E uses the same 3.35 m diameter first stage with four Tianque 12 (TQ-12) engines as the ZQ-2 with an upgraded second stage that adopts a common bulkhead and a change of engines. This upgraded second stage now features one TQ-15A vacuum-optimized engine in place of the TQ-12 and four TQ-11 vernier thrusters of the ZQ-2. The TQ-15A engine will also be used on the forthcoming ZhuQue-3 rocket and is designed to be reignited in orbit, widening the scope of missions for the ZQ rocket family. Soyuz 2.1b prepares to launch Cosmos 2576 from Site 43/4 at Plesetsk in May 2024. (Credit: Russian Ministry of Defence) Soyuz 2.1b | Cosmos 2580 (Unknown Payload) A Soyuz 2.1b rocket is expected to launch the Cosmos 2580 mission, featuring another Lotos-S satellite, into orbit this week, though this has not yet been confirmed. Soyuz 2.1b is expected to launch from an unconfirmed pad at the Plesetsk Cosmodrome in Russia on Wednesday, Nov. 27, at 19:00 UTC during a two-hour launch window, carrying the payload to an orbit inclined by 67 degrees. Should a launch on teh 27th be scrubbed, alternative launch opportunities extend into early December. The Lotos reconnaissance satellites form part of a wider, classified, orbital electronic intelligence system known as Liana. This Electronic Signals Intelligence, or ELINT, system intercepts radar and electromagnetic radiation signals for the location and characterization of sites, ships, and aircraft of military interest. Four were procured by the Russian Ministry of Defense back in 2017, one of which has yet to be launched and could, therefore, be this payload. A further batch was subsequently ordered in August 2022 and is assumed to still be in production. Previous Lotos launches have been accompanied by a secondary payload, which has been deployed shortly after the primary satellite is released. Falcon 9 Block 5 | Starlink Group 6-65 This will be SpaceX’s 120th Falcon mission of the year and Falcon 9’s 118th mission. Liftoff is scheduled for Saturday, Nov. 30, at 12:00 AM EST (05:00 UTC) from Space Launch Complex 40 (SLC-40) at the Cape Canaveral Space Force Station in Florida, lofting another batch of Starlink v2 Mini satellites to low-Earth orbit. This will be the 67th mission to populate Starlink’s Group 6 shell, following the Group 6-76 mission earlier in the week. Currently, neither the booster nor the autonomous droneship supporting this mission has been announced. Falcon 9 Block 5 | NROL-126 This classified mission for the National Reconnaissance Office is likely to be a fifth batch of Starshield satellites built by SpaceX and Northrop Grumman. Liftoff is scheduled for 12:08 AM PST (08:08 UTC) on Saturday, Nov. 30, from Space Launch Complex 4E (SLC-4E) at the Vandenberg Space Force Base in California during a four-hour launch window. Following launch, Falcon 9 will fly on a southeasterly trajectory out of California. The booster supporting this mission has not yet been announced but is expected to perform Falcon’s 112th landing of 2024 on SpaceX’s autonomous droneship Of Course I Still Love You . The SXM-7 satellite, almost identical to the SXM-9 satellite replacing it, before it was integrated for launch. (Credit: Space Systems/Loral (SSL)/Maxar Technologies) Falcon 9 Block 5 | SXM-9 Falcon 9’s SXM-9 mission will launch the replacement for the SXM-7 high-power digital audio broadcasting satellite, which was launched four years ago in December 2020. SXM-7, itself a replacement for the XM 3 satellite, experienced unresolvable issues during its commissioning phase once in orbit. Operated by SiriusXM, SXM-9 is the first in a series of nearly identical third-generation satellites that will update the fleet. Subsequent launches are planned once per year up to SXM-12 in 2027. Built on Maxar’s 1300-class platform and massing around 7,000 kg, SXM-9 will support both Sirius and XM services’ broadcasting of sports, music, news, and entertainment content via satellite radio. The satellite includes a large mesh reflector, which measures almost 10 m in length when unfurled and has an expected 15-year lifespan. Launch is expected on Monday, Dec. 2, at 11:09 AM EST (16:09 UTC) from LC-39A in Florida, lofting the satellite into a geostationary transfer orbit. It is anticipated, but not yet confirmed, that the booster will attempt to land downrange on an autonomous droneship. (Lead image: Falcon 9 launches into the twilight skies of Florida. Credit: Julia Bergeron for NSF)Undefeated Oregon and No. 23 Texas A&M will collide Tuesday afternoon in Las Vegas in the second game of the new Players Era Festival. Both teams are in the "Power" group of the eight-team event. All eight teams are receiving $1 million for their name, image and likeness (NIL) collectives, but placing fourth or higher in the tourney in order will net them anywhere from $1.1 million to $1.5 million. The Aggies (4-1) opened the season with a three-point loss at UCF, but since then have won four straight, all in convincing fashion. Texas A&M upset then-No. 21 Ohio State 78-64 on Nov. 15 at home in College Station, Texas. Then the Aggies crushed Southern 71-54 last Wednesday, when Wade Taylor IV led the way with 17 points and six assists. All of Texas A&M's wins have been by double digits. The Aggies and Ducks (5-0) have split the two previous meetings against each other. Until March 2022 in an NIT second-round game, they had not met since the 1970-71 season. Texas A&M tied the overall series with a 75-60 win at home in 2022. The only player on the Ducks' current roster who played in that game was 7-foot senior Nate Bittle, who has been one of Oregon's best players so far this season. Bittle's 16.2 points and 10.2 rebounds per game lead the Ducks so far this season, and the big man also averages two blocked shots per game. Texas A&M guard Zhuric Phelps, a transfer from SMU, leads the Aggies in scoring at 16 points per game. Taylor adds 14 points per game. The Aggies could be the best defensive team the Ducks will have seen this season. A&M is allowing teams to shoot only 36.6 percent in games. Head coach Buzz Williams and his staff are hoping the team gets better at taking charges on defense, as the Aggies have just one so far this season. "I guess the thing that you work on most is verticality around the rim," Texas A&M assistant coach Steve Roccaforte told KBTX television. "‘Hey, once you get there, if you try and take a charge, it's going to be a block. Just jump as high as you can, stay vertical, try to go chest-to-chest. Make it a hard shot.'" Oregon is coming off a 78-75 win at Oregon State, the Ducks' first road game of the season. The Ducks trailed by 10 points at halftime but, as they have in several games this season, they found a rhythm on offense in the second half and came up with a comeback win. Bittle's 23 points and 14 rebounds led the way. Jackson Shelstad had 15 points and Jadrian Tracey and Keeshawn Barthelemy both added 10. "We started rebounding the ball a little better. Nate really got it going inside and our guys got him the ball," Oregon head coach Dana Altman told the school's athletics website. "He had a heck of a game." --Field Level Media
Bayer Leverkusen manager Xabi Alonso joked Monday he may be forced to return to the pitch amid his side’s injury crisis “if they give me a player contract”.Leverkusen are missing seven regulars, but the damage is particularly acute in attack, where forwards Victor Boniface, Amine Adli, Jonas Hofmann and Martin Terrier are all missing. Speaking ahead of Tuesday’s home clash with Red Bull Salzburg on his 43rd birthday, the former midfielder — who won several trophies across a glittering playing career with Liverpool, Real Madrid and Bayern Munich — toyed with the idea of a return. (function(d,s,n){var js,fjs=d.getElementsByTagName(s)[0];js=d.createElement(s);js.className=n;js.src="//player.ex.co/player/65dc22e4-65ba-460f-8980-389fa274ee98";fjs.parentNode.insertBefore(js,fjs);}(document,"script","exco-player")); “If (Bayer Leverkusen CEO) Fernando Carro gives me a player contract, then maybe,” Alonso joked, adding: “I’ve only got a contract as a coach and I’m not allowed to play.” Last season, Leverkusen won an unbeaten league and cup double, losing just one of 53 games — the Europa League final against Atalanta. “What happened last year was not common. We didn’t have too many problems (with injury),” said Alonso. The Spaniard has been forced to dig into the club’s junior stocks, calling up four players 18 and under, including the 16-year-old Andrea Natali. Leverkusen have won two and drawn one of their four Champions League matches and sit 13th in the table, two points off the top eight. AFPPaws for Thought: Get your buddies ready for the holidays
Lopetegui came into the game under pressure following some poor displays from the Hammers in recent weeks but they earned a hard-fought victory to end the Magpies’ three-game winning spell. Despite a promising opening from the hosts, Tomas Soucek headed West Ham in front before Aaron Wan-Bissaka’s first goal for the club after the break wrapped up victory. Lopetegui was pleased with his side’s display following a “tough match”. He said: “I am happy for the three points and am very happy against a good team like Newcastle, who have good players and a fantastic coach. “I think today was a tough match and we were able to compete as a team. “I think we deserved to win. Today they had many moments in the first half, but I think the second half we deserved to win and we are happy because you have to do these kind of matches against this type of team if you want to overcome them.” Newcastle started brightly and had plenty of chances in the first half especially, but the visitors responded after the break by retaining possession well. The win eases the pressure on Lopetegui, whose West Ham side face Arsenal on Saturday, and he believes the victory is an important feeling for his players. He said: “I think the only thing that is under our control is to play football, to improve, to defend well, to convince the players we are able to do better. “Today we did, but I think the only thing we can do is to do the things that are under our control, not today but every day. “So we had to keep with this mentality, but above all let me say we are happy for the players because they need this kind of feeling as a team to believe that we are able to do well as a team, to put the best for each player of the team.” Newcastle boss Eddie Howe admitted defeat was a missed opportunity for his side. The Magpies missed a series of chances in the first half, including efforts from Joe Willock and Sean Longstaff, before Alexander Isak blasted a chance off target. Anthony Gordon also rolled an effort just wide of the post after the break and Isak headed wide of goal. Three points could have seen Newcastle move into the top six and Howe admitted his side need to learn from the match. “Yes, massive because the league is so tight that a couple of wins and the whole picture looks very different,” Howe said. “We’ll kick ourselves tonight because we knew the opportunity we had, a home game, Monday night, a great moment for us potentially in our season, so we have to learn from that and come back stronger.”Broncos assistants could be drawing interest from other teamsPlain Talk: 'The good, the bad, the ugly' of artificial intelligence
Underperforming stars leave Tottenham with Europa League rescue mission
Patriots DL Christian Barmore tallies first sack since blood clots diagnosisKerala Chief Minister Pinarayi Vijayan on Sunday said, the ruling Left Democratic Front (LDF) performed remarkably well in the bypolls held in the state, despite the Congress-led UDF unleashing a false campaign against the government and joining hands with communal outfits to ensure their victory. He said the LDF achieved a significant victory in the Chelakkara assembly constituency and could increase its vote share in Palakkad segment in the bypolls, the results of which were announced on Saturday. Taking a dig at the opposition front, the CM asked what had happened even after the Congress-led UDF vigorously campaigned that the bypoll would be an evaluation of the state government. Addressing a party programme here, Vijayan said that the UDF made all attempts to wrest the Chelakkara constituency and gave utmost prominence for the constituency during the campaigning. He said the Congress tried to achieve a huge political victory by winning Chelakkara. "Then, what had happened when the results were announced?" Vijayan asked. He also accused the opposition front of joining hands with outfits like SDPI and Jamaat-e-Islami to defeat the LDF in the bypolls held to Palakkad and Chelakkara assembly seats and Wayanad Lok Sabha constituency. 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The UDF candidate could not retain her vote share in Chelakkara, when compared to the performance of the party in the segment in the last Lok Sabha polls. But the LDF candidate could ensure his victory by achieving a remarkable margin, the CM added. Both the LDF and the UDF retained the Chelakkara and Palakkad Assembly seats respectively with a comfortable margin in the bypolls. The Congress won the Wayanad Lok Sabha seat with a thumping margin. (You can now subscribe to our Economic Times WhatsApp channel )
The doomers have it wrong. AI is not going to end the world—but it is going to end the web as we've known it. AI is already upending the economic covenant of the internet that's existed since the advent of search: A few companies (mostly Google) bring demand, and creators bring supply (and get some ad revenue or recognition from it). AI tools are already generating and summarizing content, obviating the need for users to click through to the sites of content providers, and thereby upsetting the balance. Meanwhile, an ocean of AI-powered deepfakes and bots will make us question what's real and will degrade people's trust in the online world. And as big tech companies—who can afford the most data and compute—continue to invest in AI, they will become even more powerful, further closing off what remains of the open internet. The march of technology is inevitable. I'm not calling attention to this to cry that the sky is falling or to hold back progress. We need to help individual users gain some control of their digital lives. Thoughtful government regulation could help, but it often slows innovation. Attempting a one-size-fits-all solution can create as many problems as it solves. And, let's face it, users are not going to retreat... Chris DixonNEW YORK , Dec. 12, 2024 /PRNewswire/ -- Report on how AI is driving market transformation - The global food service market size is estimated to grow by USD 1.07 trillion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.66% during the forecast period. For comprehensive forecast and historic data on regions,market segments, customer landscape, and companies- Click for the snapshot of this report Report Attribute Details Base Year 2023 Forecast period 2024-2028 Historic Data for 2018 - 2022 Segments Covered Service (Conventional, Centralized, Ready-prepared, and Assembly-serve), Sector (Commercial and Non-commercial), and Geography (APAC, North America, Europe, South America, and Middle East and Africa) Key Companies Covered Abela and Co. LLC, Aramark, Chick fil A Inc., Compass Group Plc, Dominos Pizza Inc., FOOD and LIFE Co. Ltd., Inspire Brands Inc., Jack in the Box Inc., Jollibee Foods Corp., Little Caesar Enterprises Inc., McDonald Corp., MOS Food Services Inc., Papa Johns International Inc., Performance Food Group Co., Restaurant Brands International Inc., Sodexo SA, Starbucks Corp., Sysco Corp., The Wendys Co., and YUM Brands Inc, Regions Covered APAC, North America, Europe, South America, and Middle East and Africa Region Outlook 1. APAC - APAC is estimated to contribute 50%. To the growth of the global market. The Food Service Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. The APAC region emerged as the largest geographical segment of the global food service market in 2023, accounting for a significant market share. This trend is projected to continue, with APAC expected to grow faster than the overall market during the forecast period 2024-2028. The region's dominance can be attributed to the rising employment and income levels, leading to changing consumer lifestyles. The increasing number of time-pressed consumers and the convenience factor are driving the demand for quick and easy food options. Additionally, urbanization is fueling the dependency on fast food as consumers find less time for cooking. For more insights on APAC's significant contribution along with the market share of rest of the regions and countries - Download a FREE Sample Segmentation Overview Get a glance at the market contribution of rest of the segments - Download a FREE Sample Report in minutes! 1.1 Fastest growing segment: The conventional food service system is a time-tested approach used by many vendors in the food industry. In this system, ingredients are prepared and served on the same premises, ensuring customers freshly made meals tailored to their preferences. Depending on the food type, it is kept heated or chilled until served. This system is widely used in schools, universities, restaurants, and cafeterias, where consumers value freshly prepared food and flexible menu options. Skilled labor is employed to produce the food, and the conventional system's high-quality offerings continue to attract customers. The preference for freshly prepared meals in dining establishments is expected to fuel the growth of the conventional segment in the global food service market during the forecast period. Research Analysis The Food Service Market encompasses a wide range of establishments and services, including child care centers, restaurants, hotels, cafés, and more. Third-party providers play a crucial role in the industry, offering services such as storage, preparation, and serving to help businesses streamline their operations. Facilities must adhere to strict health and safety regulations for food handling and preparation. Distribution is another essential component, with both traditional and online options available. Restaurant operators and hotel chains partner with food delivery services like Deliveroo and strategic partnerships such as McDelivery to expand their reach. Service types vary, with full-service restaurants offering a more extensive menu and table service, while quick service restaurants focus on speed and convenience. Institutes and educational institutions also contribute significantly to the market. Market Overview The food service market encompasses a wide range of establishments and services, including third-party providers for storage, preparation, and serving in various facilities such as child care centers, restaurants, hotels, cafes, and more. Distribution plays a crucial role in ensuring the timely delivery of ingredients and finished meals. Urban areas with high population density and rising incomes have seen significant growth in the food service industry, driven by changing consumer lifestyles, digitization, and the increasing popularity of online delivery options. The market caters to various cuisines and dietary trends, such as veganism, which has led to the rise of vegan fast food and specialized food courts and malls. The industry is influenced by factors such as productivity, safety, technology, employment, health, hygiene, and e-commerce systems. Strategic partnerships between restaurant operators, hotel chains, independent business owners, and food delivery services like Deliveroo and McDelivery have become commonplace. The market is diverse, with offerings ranging from full-service restaurants to quick service establishments, and includes institutes, retailers, providers, and franchising opportunities. The hospitality sector, including the HRI sector and tourist spending, also plays a significant role in the food service market's financial growth. The quality of food, punctuality of delivery, and plastic packaging are key concerns for consumers, while the rising trend of out-of-home food consumption and the influence of foreign investment and border closures continue to shape the industry landscape. Start exploring market insights by Download a FREE Sample Report in minutes! Key Topics Covered: 1 Executive Summary 2 Market Landscape 3 Market Sizing 4 Historic Market Size 5 Five Forces Analysis 6 Market Segmentation 7 Customer Landscape 8 Geographic Landscape 9 Drivers, Challenges, and Trends 10 Venodr Landscape 11 Vendor Analysis 11.1 McDonald's 11.2 Starbucks 11.3 Restaurant Brands International Inc 11.4 Costa Limited 11.5 Tim Hortons 11.6 Dominos 11.7 KFC Corporation 11.8 Supermac's 11.9 Jollibee 11.10 Baskin Robbins 12 Appendix About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/ View original content to download multimedia: https://www.prnewswire.com/news-releases/food-service-market-50-growth-to-stem-from-apac-report-highlights-ai-powered-market-evolution---technavio-302328800.html SOURCE Technavio
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AP Sports SummaryBrief at 5:21 p.m. ESTNo. 22 Xavier unbeaten but looking for more effort vs. South Carolina
Adele has opened up about how her two-year Las Vegas residency got off to a "rocky" start. or signup to continue reading The Chasing Pavements singer, 36, mounted the gigs after a traumatic time in 2022 which saw her cancel the shows less than a day before the first one was set to kick off – and wrapped them up on Saturday night with an emotional performance at Caesars Palace that saw her kiss her 12-year-old son Angelo and fiancée Rich Paul, 43, after making a speech to fans about her battle to put them on. She told the crowd in a video shared on social media: "I am so sad that this residency is over and I am so glad that it happened – I really, really am. "It got off to such a f****** rocky, rocky way. It was one of the worst years of my life. "I was being punched around, it was horrible and I was told it was career suicide and Vegas would never forgive me for (cancelling) so last minute." Ahead of her last show on Saturday, Adele told how she was looking forward to enjoying red wine and resting in bed. She told fans at one of her recent shows in Sin City, she said: "Doing four hours a weekend of completely live singing is a lot. "And I chat a lot, and I'm very, very sensitive and I'm emotional. I am battered after these shows. And I take every single person on in this room into my soul, I take you home with me. She added she's been on "full recovery" between shows and was ready for them to be over. Adele went on: "It's a big deal to me because it's very, very bittersweet. But (my residency) has been in my mind for four years... four years for one f****** idea. "So I'm looking forward to having loads of spare time to love on my kids, to love on my man and to love on another kid. To love on my house. "Saturday night (when the residency ends), I'm probably going to have a (lot) of red wine. "So that's the most exciting thing for when the show ends! Then after that I think I'm just going to really, really veg until the end of the year. I feel like I'm early hibernating already." Advertisement Sign up for our newsletter to stay up to date. We care about the protection of your data. Read our . AdvertisementWhy is this ASX 300 battery tech stock jumping 11% today?Panthers' close call against Chiefs has coach Dave Canales excited about the direction of the team