Food & Drink Services

The food and drink services industry has faced unprecedented change due to the coronavirus (COVID-19) pandemic. Social distancing requirements and a range of ensuing safety measures meant that, across the globe, it was no longer possible to dine or drink in-house at food and drink locations. This forced the already established trend of digitalization to accelerate in the industry. In order to survive, food and drink service providers have expanded their digital presence by introducing online ordering and delivery services to stay afloat. Furthermore, virtual concepts, or “ghost kitchens” - restaurants in which only cooking is done, but no guests are served - have proved their viability during this crisis. Today, the marketplace for food delivery and takeout is soaring, a trend that will likely continue to influence restaurant operations and reshape the dining experience for years to come.

Market size

Growth in food and drink services sees dip amidst COVID-19 pandemic

Market size of the global food service industry in 2021, with a forecast for 2028 (in billion U.S. dollars)

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Further details: Visit original statistic Market size of the global food service industry in 2021, with a forecast for 2028 (in billion U.S. dollars)

Up until the coronavirus (COVID-19) pandemic, the food and drink services industry had been seeing consistent year-over-year growth in all of its sectors. Yet, while the pandemic has proved to be a difficult time for the industry, it is still predicted to see growth. In particular, the online food delivery market size is forecast to grow more than was expected prior to the pandemic in the upcoming years.

Online food delivery market size worldwide
Countries with the highest restaurant and hotel spending

Market segments

Quick service restaurants prove the most resilient

Market size of the quick service restaurant industry worldwide from 2012 to 2021, with a forecast for 2022 (in billion U.S. dollars)

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Further details: Visit original statistic Market size of the quick service restaurant industry worldwide from 2012 to 2021, with a forecast for 2022 (in billion U.S. dollars)

Many quick service restaurant (QSR) companies already offered online ordering and delivery services prior to the COVID-19 pandemic. As a result, they were far more prepared for the crisis than their full service restaurant (FSR) counterparts. Coffeehouses, having a similar business model to QSRs, have also proved resilient. Meanwhile, bars and nightclubs have suffered greatly, as it has proved difficult to recreate their services in a home or virtual setting.

Coffeehouse industry worldwide
Fast food industry in the U.S.
Bar and nightclub industry

Industry trends

Food and drink services adapt to changing consumer demands

Year-over-year daily change in seated restaurant diners due to the coronavirus (COVID-19) pandemic worldwide from February 24, 2020 to August 1, 2022

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Further details: Visit original statistic Year-over-year daily change in seated restaurant diners due to the coronavirus (COVID-19) pandemic worldwide from February 24, 2020 to August 1, 2022

Consumer needs have changed significantly as a result of the coronavirus pandemic. These days, exceptional hygiene standards, online ordering, and home delivery have become essential requirements. Food and drink establishments have had to adapt quickly to these changing trends in order to survive. Even after adapting, many businesses are still facing difficulties due to changing restrictions in their regions forcing them to close their doors at short notice.

Online food delivery services in the U.S.
Online food delivery services in Europe
Online food delivery services in Latin America

Industry leaders

Quick service restaurant companies dominate the market

Brand value of the 10 most valuable quick service restaurant brands worldwide in 2021 (in million U.S. dollars)

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Further details: Visit original statistic Brand value of the 10 most valuable quick service restaurant brands worldwide in 2021 (in million U.S. dollars)

When it comes to food and drink service industry leaders, quick service restaurant companies take the top spots. U.S.-based, quick service behemoth, McDonald’s, has been the largest food service chain in the world for many years, with Starbucks holding the second spot. Meanwhile, when looking outside of North America, 7-Eleven in Japan accounted for the highest sales of any food service provider, with the country being home to more 7-Elevens than anywhere else in the world.

Biggest food service chains outside of North America
McDonald's
Starbucks

State of the industry

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  • Restaurants & Nightlife in the U.S. 2022 - Industry Insights & Data Analysis
  • Restaurants & Nightlife in the UK - Industry Insights & Data Analysis
  • Restaurants & Nightlife in Germany 2021
  • Quick service restaurants in the U.S.
  • Online restaurant delivery services in the U.S.
  • Online food delivery in Western Europe
  • Online food delivery in Latin America
  • Online food delivery in China

Industry Definition

The food and drink services industry can be broadly defined as the process of preparing, presenting, and serving food and drink to customers. It incorporates many different sectors, including quick service and causal dining restaurants, full service restaurants, cafes and coffee shops, bars, clubs, nightclubs, catering services, canteens, and more. Additionally, these individual sectors are subject to different trends, one example that is relevant to all of them is the rise of digitization and the online market. However, trend topics can also be more specific, for example, the demand for ethically sourced coffee in cafes and coffeeshops. New trends will continue to transform the outlook of this industry, the most notable of which being the coronavirus pandemic which is predicted to change food and drink services for years to come.

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