The food and beverage services industry comprises businesses that provide meals, snacks, and beverages to customers. This industry includes restaurants and mobile food services, catering, beverage serving providers and other food and beverage services. Companies in this industry are mainly restaurants, cafes, coffee shops, fast food outlets, catering services, pubs and bars, food service contractors and mobile food services.
The top five companies covered are Compass Group PLC, McDonald's, Starbucks, Marriott International and Subway. Compass Group PLC was the largest company in the food and beverage services market in 2017.
The countries covered are USA, China, Germany, Brazil, Japan, UK, Spain, Russia, France, Australia, Italy, India and rest of the world.
Food and Beverage Services Global Market Size
The global food and beverage services market was valued at around $5 trillion in 2017. Asia Pacific was the largest region in the food and beverage services market in 2017, accounting for around 49% market share. China was the largest country in the market in 2017, accounting for above 27% market share.
Food and Beverage Services Global Market Trend
Organic and locally produced food is becoming increasingly popular. Consumers are willing to pay more at restaurants and cafes that serve organic and locally grown food items. Almost 45% of Americans actively try to involve organic food in their diets. In 2013, the global sales of organic food and drink reached $72 billion, with Europe and the United States driving 90 percent of the world’s sales. Companies in the food and beverage services industry are seeking to differentiate themselves by upgrading their ingredients and experimenting with healthier dishes.
Food and Beverage Services Global Market Segmentation
The food and beverage services market is segmented into Restaurants And Mobile Food Services, Catering And Food Contractors, and Bars And Cafés.
Restaurants And Mobile Food Services segment includes businesses that provide food services through full service restaurants, limited service restaurants, cafeterias, grill buffets and buffets, as well as mobile food services. The major products in this industry include appetizers, entrées/main dishes, desserts, and beverages.
Catering And Food Contractors segment covers providing food services on contractual arrangements with customers for events at a specified location, and providing food services at institutional, governmental, commercial, or industrial locations of others based on contractual arrangements with these types of organizations for a specified period of time.
Bars And Cafés’ businesses prepare and serve beverages for immediate consumption on the premises. These activities are carried out at places like pubs, bars, taverns, fruit juice stalls, coffee shops and mobile beverage vendors.