Companies in this industry provide meals, snacks, and beverages to customers for on-site or off-site consumption. Major companies include restaurant operators such as Darden Restaurants, McDonald's, Starbucks, and Yum! Brands (all based in the US), as well as Greggs (the UK), Skylark (Japan), and Restaurant Brands International (Canada). Major food service contractors include US-based ARAMARK and Delaware North, as well as Autogrill (Italy), Compass Group (UK), Sodexo (France), and SSP Group (UK).
Restaurants and bars are benefiting from rising consumer interest in gourmet foods, craft beers, and premium spirits, which can be sold at higher margins than traditional fare. Many establishments have expanded their food and beverage selections to compete for patrons who are willing to pay more to try something new and unique. Some operators work closely with local farms, breweries, and distilleries to keep up with the latest trends. Dining and bar culture varies considerably from region to region, making it difficult for all but the largest companies to operate internationally.
Products, Operations & Technology
Companies in this industry include full service restaurants (more than 40% of sales), limited service eating places (more than 40%), special food services (10%), and drinking places (about 5%). At full service restaurants (FSRs), waiters take orders, serve beverages and meals, present the check, and process payment. Limited service establishments include fast-food restaurants as well as fast-casual restaurants that offer higher quality, more expensive food without table service. Special food services include food service contractors, caterers, and mobile food companies. Drinking places serve alcoholic beverages and include bars (such as microbreweries, taverns, pubs, wine bars, and cocktail lounges) and nightclubs.