Restaurants, Bars & Food Services Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/20/2017
SIC Codes: 5812, 5813
NAICS Codes: 722
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Restaurants, Bars & Food Services Industry Profile

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, Centerplate, and Delaware North, as well as Autogrill (Italy), Compass Group (UK), Sodexo (France), and SSP Group (UK).

The global consumer food services industry, including restaurants, generates about $2.7 trillion in annual sales, according to Euromonitor International and Nation's Restaurant News. Most industry growth is expected to come from the Asia/Pacific region and Latin America. Slower growth is projected for Western Europe and North America due to intense competition and market saturation.

The US restaurant, bar, and food services industry includes about 700,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $600 billion.

COMPETITIVE LANDSCAPE

Demand is driven by consumer tastes and personal income. The profitability of individual companies depends on efficient operations, food quality, and effective marketing. Large companies have advantages in economies of scale in food and equipment purchasing, and greater marketing resources. Small companies can compete effectively by providing superior customer service and specialized food products, and serving local markets. The industry is highly fragmented: the top 50 companies account for about 20% of industry revenue.

Restaurants and bars compete ...

 
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