Food & Drink Services

The food and drink services industry 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. Food and drink service providers 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 – solidified their place in the market. 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 the online food delivery market

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

While the coronavirus pandemic caused a decline in revenue across many of the food and drink services segments, figures have begun to reach pre-pandemic levels again and forecasts are predicting future growth, including that of the overall industry. 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 stay on top

Market size of the quick service restaurant industry worldwide from 2012 to 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 2022 (in billion U.S. dollars)

Quick services restaurants (QSRs) are some of the largest food and drink service companies in the world. This did not change during or after the pandemic, in fact, many QSRs already offered online ordering and delivery services prior to the 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, also proved resilient. Meanwhile, bars and nightclubs suffered greatly.

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

Cities with the highest share of vegan-friendly restaurants worldwide as of April 2021

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Consumer needs changed significantly because of the pandemic. These days, exceptional hygiene standards, online ordering, and home delivery have become essential requirements for many food and drink establishments. However, now consumers are back to in-person dining, companies are focusing again on trends like sustainability, vegetarian and vegan cuisine, and technological innovation like augmented reality (AR) menus and restaurant tours.

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

Leading food and drink services companies worldwide in 2023, sales (in billion U.S. dollars)

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Further details: Visit original statistic Leading food and drink services companies worldwide in 2023, sales (in billion U.S. dollars)

When it comes to food and drink service industry leaders, U.S. quick service restaurant (QSR) companies hold the most top spots. Coffee shop behemoth, Starbucks, has been the largest coffee shop chain in the world for many years, while world-famous QSR McDonald's is always high in the rankings. Meanwhile, when looking outside of North America, Yum China Holdings, Inc. accounted for the highest sales of any food service company in Asia.

Fast food restaurants in the U.S.
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
  • Quick service restaurants in the U.S.
  • Online food delivery in Europe
  • Online food delivery in Latin America
  • Online food delivery in China
  • Coffee shops and cafes in the U.S.
  • Food service industry in the U.S.
  • Pizza restaurants in the U.S.

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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