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. For example, Panera Bread and Starbucks, each known for their
seasonal pumpkin spice lattes, changed their recipes in order to eliminate
undesirable ingredients and meet consumer demand for healthy dishes.
THE BUSINESS RESEARCH COMPANY EXPECTS THE FOOD AND
BEVERAGE SERVICES MARKET
TO GROW TO $5 TRILLION BY 2021
Asia Pacific was the largest region
in the food and beverage services market in 2017, accounting for half of the
market share. This was mainly due to increasing economic activity,
urbanization, busy lifestyles, rising disposable income and the growing
middle-class population in the region led to increase in the demand for
restaurants, cafes and bars.
Read report: https://www.thebusinessresearchcompany.com/report/food-and-beverage-services-global-market-report-2018
According to The Business Research Company’s Consultant, Nitin Gianchandani, modernizing technologies in restaurants improves customer satisfaction, thereby boosting restaurant sales. Many restaurants have recently begun introducing tablets on their tabletops to automate the process of ordering food as well as tipping. Apart from improving the overall dining experience, it also provides valuable data for restaurants. For example, Chili’s, an American casual dining restaurant chain, made a big change to its in-store ordering system by installing more than 45,000 tablets across 823 Chili’s restaurants. Bars and nightclubs are also increasingly offering technology-driven solutions and services. Establishments in the industry are introducing self-ordering touchscreen kiosks, mobile apps for customizable orders and quick payment and digital entertainment such as gaming and graffiti.
Compass Group PLC was the largest company in the food
and beverage services market, with revenues
of $26.4 billion for the financial year 2017. Compass Group’s growth strategy is to focus on organic growth and its operating efficiency. The
company plans to increase its B2B brand portfolio by partnering with more
industries, healthcare and educational institutions. The company partnered with
Thompson Hospitality Corporation in USA as part of its expansion strategy. The
company also introduced interactive websites and apps to serve students in
educational institutions.
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.
Food
And Beverage Services Global Market Report 2018 is a detailed report giving a unique
insight into this market. The report is priced at $6000 for an individual user.
To use across your office, the price is $9000 and $12000 if you wish to use
across a multinational company.
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