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 reason
for the valuation of food and beverage services market at $5 trillion in 2017 is
due to the impact of new cuisines, social media and busy lifestyle on the
market.
In the
report, the global food and beverage services market was divided into three
segments. Restaurant and mobile food services occupy the major share,
accounting for nearly three-fifth of the market. Catering services and food contractors
occupy over one-fourth of the market share and the remaining is occupied by the
bars and cafes segment.
China was
the largest country in the food and beverage services market in 2017,
accounting for more than one-fourth of the market share. The USA and Japan
followed China as the next largest countries in the market.
The top
five competitors in the market made up over 2% of the total market in 2017.
Compass Group PLC was the largest competitor of the market, followed by McDonald’s,
Starbucks, Marriott International and Subway. Compass Group PLC is headquartered in Chertsey, Surrey, UK and has operations in over 50 countries. The company
provides contract foodservice, cleaning, and property management and support services.
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