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Healthy Eating is a Free Choice of Consumers.

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 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 food and beverage services market includes the following services –

Restaurants And Mobile Food Services 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. Companies may specialize in particular cuisines or may provide a range of cuisines.

Catering Services covers providing food services on contractual arrangements with customers for events at a specified location. Food catering services include mobile catering, event catering and airline catering. They are often sold on a per-person basis.

Beverage Service 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.

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Other Food And Beverage Services include businesses providing food services at institutional, governmental, commercial, or industrial locations of others based on contractual arrangements for a specified period of time. It also includes food and beverage services offered in different modes of transportation like airplanes, trains, and cruise.

According to The Business Research Company’s Hospitality Consultant, Ramesh Yelugoila, cookery shows have a notable impact on people’s eating, cooking and shopping habits. The skills and cultural knowledge that audiences acquire from television shows encourage international brands and celebrity chefs in setting up restaurants in different geographies and encourage people to try new cuisines and dishes. Restaurants introducing a variety of global cuisines are having a positive impact on the food and beverage services market. Customers are willing to experiment with different cuisines because they are now easily accessible in their cities.

Among a lot of big and small players in the market McDonald’s emerged as the largest company in the food and beverage services market with revenues of $25.4 billion for the financial year 2015. Its growth strategy involves restructuring its franchised business model as the company plans to re-franchise almost 4000 outlets by 2018, aiming to increase annual savings by $500 million. McDonald’s also seeks to modernize and automate its services. The company introduced its mobile app in 2015 to capture the additional demand from the US market. In the International Lead and High Growth markets, McDonald’s plans to focus on changing consumer demands with the help of data analysis and mobile solutions. It is also introducing food items with regional tastes and pursuing refranchising opportunities to get a foothold in the Foundational Markets.

Asia was the largest region in the food and beverage services market in 2016, accounting for a bit more than $1 trillion 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.

The chart below shows the year-on-year growth of the global food and beverage services market during 2016 - 2020.

Food And Beverage Services Global Market Briefing is a detailed report giving a unique insight into this market. The report is priced at $750 for an individual user. To use across your office the price is $1500 and $2000 if you wish to use across a multinational company.

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