[Ranking] TOP 25 Food Services / Hospitality Companies Q3/2023
Intro
The food services industry plays a vital role in the worldwide economy as it caters to the ever-growing demand for dining experiences. With the hospitality sector as its parent industry, food services encompass a wide range of establishments such as restaurants, cafes, caterers, and food delivery services.
The influence of the food services industry extends far beyond just providing meals. It has a profound impact on various sectors, including agriculture, transportation, and tourism. The success and growth of this industry have ripple effects that contribute to job creation and economic development in local communities.
In recent years, the food services industry has experienced significant economic growth and shows no signs of slowing down. With changing lifestyles and an increasing preference for eating out or ordering in, the industry has witnessed a surge in demand. This upward trajectory presents exciting opportunities for both established companies and emerging players in the market.
The food services industry is constantly evolving, driven by changing consumer preferences, technological advancements, and global trends. Increasing focus on healthy and sustainable food options, the rise of food delivery platforms, and the impact of COVID-19 on dining habits are just a few examples of recent trends and obstacles shaping the industry's landscape.
Navigating the dynamic and competitive landscape of the food services industry requires a deep understanding of its leading companies. In this article, we will explore the top companies in the food services sub-industry, delving into their strategies, innovations, and contributions to the ever-changing culinary landscape.
Ranking
#25 Shake Shack Inc.
Employees: 9K
Revenue: 594M$
Website: https://www.shakeshack.com/
Description: Shake Shack Inc., headquartered in New York City, United States, is a prominent player in the Food Services industry. Founded in 2004, the company has grown to employ approximately 9,000 individuals. With a revenue of 594 million US dollars, Shake Shack operates a chain of fast-casual restaurants that serve a variety of high-quality burgers, hot dogs, fries, and shakes. The company's focus on using fresh, natural ingredients and offering a vibrant dining experience has contributed to its success in the hospitality sector. Shake Shack continues to expand its presence globally, with locations in North America, Europe, Asia, and the Middle East, attracting customers with its delectable menu and trendy atmosphere.
#24 Noodles & Company
Employees: 8.4K
Revenue: 600M$
Website: https://www.noodles.com
Description: Noodles & Company is a fast-casual restaurant chain specializing in noodle dishes and pasta. Headquartered in Broomfield, Colorado, United States, the company operates in the Food Services industry under the parent industry of Hospitality. Founded in 1995, Noodles & Company has grown to become a popular destination for noodle lovers, offering a wide range of globally-inspired dishes. With approximately 8.4 thousand employees, the company strives to provide a unique dining experience by combining fresh ingredients, bold flavors, and customizable options. Noodles & Company generates an estimated revenue of 600 million USD, catering to customers' diverse preferences and dietary needs. With its commitment to quality and innovation, Noodles & Company continues to expand its presence in the competitive food industry.
#23 Fiesta Restaurant Group, Inc.
Employees: 10K
Revenue: 800M$
Website: https://www.frgi.com
Description: Fiesta Restaurant Group, Inc. is a North America-based company operating in the Food Services industry. Headquartered in Addison, United States, the company was founded in 2011. With approximately 10,000 employees, Fiesta Restaurant Group operates a portfolio of fast-casual restaurant brands including Pollo Tropical and Taco Cabana. Pollo Tropical offers a menu inspired by the flavors of the Caribbean, featuring grilled chicken, rice, beans, and signature sauces. Taco Cabana specializes in Mexican cuisine, serving a variety of tacos, burritos, and other Tex-Mex favorites. Fiesta Restaurant Group focuses on providing fresh and flavorful food options to its customers, with a commitment to quality and customer satisfaction. With an estimated annual revenue of 800 million dollars, the company continues to expand its presence in the food service industry.
#22 Dave & Buster's Entertainment, Inc.
Employees: 15K
Revenue: 1.1B$
Website: https://www.daveandbusters.com/
Description: Dave & Buster's Entertainment, Inc. is a leading company in the Food Services industry, specifically in the hospitality sector. With its headquarters located in Dallas, United States, the company operates a chain of entertainment and dining venues. Founded in 1982, Dave & Buster's offers a unique experience by combining a restaurant and sports bar with an arcade gaming center. The company employs approximately 15,000 individuals across its various locations. Dave & Buster's generates a revenue of around 1.1 billion dollars, making it a significant player in the industry. With its interactive games, extensive food and beverage offerings, and lively atmosphere, Dave & Buster's aims to provide a fun and entertaining experience for its customers.
#21 BJ's Restaurants, Inc.
Employees: 10K
Revenue: 1.2B$
Website: https://www.bjsrestaurants.com
Description: BJ's Restaurants, Inc. is a leading player in the Food Services industry, specifically in the Hospitality sector. With its headquarters located in Huntington Beach, United States, BJ's Restaurants operates primarily in North America. The company was founded in 1978 and has grown to become a significant player in the market. With approximately 10,000 employees, BJ's Restaurants has established itself as a major employer in the industry. The company generates an annual revenue of 1.2 billion U.S. dollars, showcasing its strong financial performance. Known for its casual dining experience and extensive menu offerings, BJ's Restaurants continues to attract customers and maintain a prominent presence in the Food Services industry.
#20 Red Robin Gourmet Burgers, Inc.
Employees: 25K
Revenue: 1.2B$
Website: https://www.redrobin.com/
Description: Red Robin Gourmet Burgers, Inc. is a popular restaurant chain specializing in gourmet burgers. Headquartered in Greenwood Village, United States, Red Robin operates primarily in North America. The company was founded in 1969 and has since grown to become a well-known name in the food services industry. With approximately 25,000 employees, Red Robin offers a diverse menu featuring a wide range of burgers, sandwiches, salads, and appetizers. Known for their innovative and creative burger combinations, Red Robin aims to provide a unique dining experience for its customers. In 2020, the company reported a revenue of 1.2 billion dollars, showcasing its success in the highly competitive hospitality industry.
#19 Dine Brands Global, Inc.
Employees: 2.5K
Revenue: 1.2B$
Website: https://www.dinebrands.com
Description: Dine Brands Global, Inc., headquartered in Glendale, United States, is a leading company in the Food Services industry. Founded in 1958, the company operates a portfolio of well-known restaurant brands in North America, including Applebee's Neighborhood Grill + Bar and IHOP. With approximately 2.5 thousand employees, Dine Brands Global, Inc. generates annual revenue of 1.2 billion dollars. The company's focus is on providing delicious and affordable dining experiences to its customers, offering a wide range of menu options and a welcoming atmosphere. Through its extensive network of franchisees and company-operated restaurants, Dine Brands Global, Inc. continues to expand its presence and deliver exceptional hospitality services to millions of guests each year.
#18 Wingstop Inc.
Employees: 12K
Revenue: 1.5B$
Website: https://www.wingstop.com
Description: Wingstop Inc. is a leading restaurant chain in the Food Services industry, specifically in the Hospitality sector. Headquartered in Dallas, United States, Wingstop was founded in 1994. The company operates a global network of fast-casual restaurants that specialize in serving chicken wings. With approximately 12,000 employees, Wingstop offers a diverse menu of flavorful wings, along with a variety of sides and dips, providing customers with a unique dining experience. Known for its bold and distinctive flavors, Wingstop has gained popularity among chicken wing enthusiasts worldwide. With annual revenue reaching 1.5 billion dollars, Wingstop continues to expand its presence and deliver high-quality chicken wing options to its loyal customer base.
#17 Jack In The Box Inc.
Employees: 20K
Revenue: 1.5B$
Website: https://www.jackinthebox.com
Description: Jack In The Box Inc. is a prominent fast-food chain operating in the Food Services industry, specifically in the Hospitality sector. Headquartered in San Diego, United States, the company was founded in 1951. With a workforce of approximately 20,000 employees, Jack In The Box Inc. serves as a popular destination for customers seeking quick and delicious meals. The company generates an impressive revenue of 1.5 billion dollars, showcasing its significant presence in the industry. Jack In The Box Inc. offers a diverse menu featuring a wide range of options including burgers, tacos, chicken sandwiches, and breakfast items, catering to the preferences of its loyal customer base.
#16 Papa John's International, Inc.
Employees: 16K
Revenue: 1.7B$
Website: https://www.papajohns.com/
Description: Papa John's International, Inc. is a leading pizza delivery chain headquartered in Louisville, United States. The company was founded in 1984 and currently employs approximately 16,000 people. With an annual revenue of 1.7 billion dollars, Papa John's operates in the Food Services industry within the Hospitality sector. The company is known for its high-quality ingredients and freshly made pizzas, which are delivered to customers' doorsteps. Papa John's has a strong online presence through its website and mobile app, allowing customers to conveniently order their favorite pizzas and other menu items. The company's commitment to customer satisfaction and efficient delivery service has helped it establish a strong position in the highly competitive pizza delivery market.
#15 The Cheesecake Factory Incorporated
Employees: 45K
Revenue: 2.3B$
Website: https://www.thecheesecakefactory.com/
Description: The Cheesecake Factory Incorporated is a prominent player in the Food Services industry within the Hospitality sector. Based in Calabasas Hills, United States, the company operates multiple restaurant brands, including The Cheesecake Factory, Grand Lux Cafe, RockSugar, and Social Monk. With a rich history dating back to 1978, the company has established itself as a leader in the casual dining segment, offering a diverse menu featuring over 250 items, including signature cheesecakes. The Cheesecake Factory Incorporated employs approximately 45,000 individuals and generates an impressive annual revenue of 2.3 billion dollars. Renowned for its extensive menu, generous portions, and high-quality ingredients, the company continues to thrive in the competitive food service industry.
#14 Texas Roadhouse, Inc.
Employees: 60K
Revenue: 2.5B$
Website: https://www.texasroadhouse.com
Description: Texas Roadhouse, Inc. is a leading food service company in the hospitality industry. Headquartered in Louisville, United States, the company operates a chain of themed restaurants known for their hand-cut steaks, fall-off-the-bone ribs, and made-from-scratch sides. Founded in 1993, Texas Roadhouse has grown to become a popular destination for casual dining, providing a fun and lively atmosphere with country music and line dancing. With approximately 60,000 employees, the company is committed to delivering exceptional service and high-quality food to its customers. Texas Roadhouse generated a revenue of 2.5 billion dollars, solidifying its position as a key player in the food services sector.
#13 Cracker Barrel Old Country Store, Inc.
Employees: 73K
Revenue: 3.2B$
Website: https://www.crackerbarrel.com/
Description: Cracker Barrel Old Country Store, Inc. is a food services company operating in the Hospitality industry. Headquartered in Lebanon, United States, the company was founded in 1969. With approximately 73,000 employees, Cracker Barrel offers a unique dining experience with a focus on traditional Southern cuisine. The company operates a chain of restaurants, country stores, and gift shops across North America. Cracker Barrel's revenue reached 3.2 billion dollars, making it one of the leading players in the food services sector. Through its rustic, country-themed establishments, Cracker Barrel aims to provide customers with a warm and nostalgic atmosphere, reminiscent of old-fashioned home cooking and hospitality.
#12 Popeyes Louisiana Kitchen, Inc.
Employees: 30K
Revenue: 3.2B$
Website: https://www.popeyes.com
Description: Popeyes Louisiana Kitchen, Inc. is a renowned fast-food chain specializing in Southern-style fried chicken. Headquartered in Miami, United States, Popeyes operates primarily in North America. Founded in 1972, the company has grown to become a major player in the food services industry. With approximately 30,000 employees, Popeyes serves a wide range of delicious menu items that include its signature chicken, as well as seafood, sandwiches, and sides. The company's focus on flavorful and authentic Louisiana cuisine has garnered a loyal customer base. In 2019, Popeyes gained significant attention and success with the launch of its highly popular chicken sandwich, further boosting its revenue to 3.2 billion dollars.
#11 Brinker International, Inc.
Employees: 60K
Revenue: 3.5B$
Website: https://www.brinker.com
Description: Brinker International, Inc. is a leading company in the Food Services industry, operating primarily in the hospitality sector. Headquartered in Dallas, United States, Brinker International was founded in 1975. With a workforce of approximately 60,000 employees, the company is dedicated to providing exceptional dining experiences through its various restaurant brands. Brinker International generates an estimated annual revenue of 3.5 billion dollars. The company's portfolio includes well-known brands such as Chili's Grill & Bar and Maggiano's Little Italy, offering a wide range of cuisines and dining options. Brinker International continues to expand its presence and deliver high-quality food and service to customers across North America and beyond.
#10 Domino's Pizza, Inc.
Employees: 14K
Revenue: 3.6B$
Website: https://www.dominos.com
Description: Domino's Pizza, Inc. is a renowned food services company operating in the Hospitality industry. With its headquarters located in Ann Arbor, United States, Domino's is a prominent player in the pizza delivery business. Founded in 1960, the company has grown to become a global brand with a strong presence in North America and various other countries. With approximately 14,000 employees, Domino's generates significant revenue of around 3.6 billion dollars. The company focuses on providing delicious pizzas, sides, and beverages to its customers, with a strong emphasis on efficient delivery and customer satisfaction. Domino's continues to expand its reach through innovative marketing strategies, technological advancements, and a commitment to high-quality products and services.
#9 Bloomin' Brands, Inc.
Employees: 94K
Revenue: 4.3B$
Website: https://www.bloominbrands.com/
Description: Bloomin' Brands, Inc., headquartered in Tampa, United States, is a prominent player in the Food Services industry within the Hospitality sector. The company was founded in 1988 and currently employs approximately 94,000 individuals. With a revenue of 4.3 billion dollars, Bloomin' Brands operates a portfolio of well-known restaurant brands including Outback Steakhouse, Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar. Known for their quality food and exceptional customer service, these brands provide a diverse range of dining experiences to customers worldwide. Bloomin' Brands continues to expand its global footprint and remains committed to delivering delicious meals and memorable dining experiences across its various restaurant concepts.
#8 Restaurant Brands International Inc.
Employees: 6K
Revenue: 5B$
Website: https://www.rbi.com
Description: Restaurant Brands International Inc. is a leading company in the Food Services industry. Based in Toronto, Canada, the company operates globally, with a strong presence in North America. Since its founding in 2014, Restaurant Brands International has grown to become a major player in the hospitality sector, focusing on the quick-service restaurant segment. The company owns and operates some of the world's most iconic fast-food brands, including Burger King, Tim Hortons, and Popeyes. With a workforce of approximately 6,000 employees, Restaurant Brands International generates annual revenues of around 5 billion dollars. The company's continued success is driven by its commitment to delivering high-quality products, exceptional customer service, and strategic expansion into new markets.
#7 Chipotle Mexican Grill, Inc.
Employees: 85K
Revenue: 5.6B$
Website: https://www.chipotle.com
Description: Chipotle Mexican Grill, Inc. is a fast-casual restaurant chain based in Newport Beach, United States. Since its founding in 1993, Chipotle has become a prominent player in the food services industry. With approximately 85,000 employees, Chipotle operates over 2,800 locations across North America. The company's focus is on serving high-quality, customizable Mexican-inspired cuisine, using fresh ingredients and sustainable sourcing practices. Chipotle's menu features a variety of options such as burritos, bowls, tacos, and salads, allowing customers to create their own unique meals. Through its commitment to food with integrity, Chipotle strives to provide a unique dining experience that emphasizes flavor, convenience, and conscious eating. With annual revenues of around 5.6 billion dollars, Chipotle continues to expand its presence and cater to the growing demand for delicious and responsibly-sourced food.
#6 Yum! Brands, Inc.
Employees: 600K
Revenue: 6.5B$
Website: https://www.yum.com
Description: Yum! Brands, Inc. is a leading global food services company operating in the hospitality industry. Headquartered in Louisville, United States, the company has a strong presence in North America. Yum! Brands operates a portfolio of well-known restaurant brands including KFC, Pizza Hut, Taco Bell, and The Habit Burger Grill. With a history dating back to 1997, the company has grown to become one of the largest players in the food services sector. Yum! Brands employs approximately 600,000 people worldwide, making it a major employer in the industry. The company generates an impressive annual revenue of 6.5 billion dollars, showcasing its strong market position and financial success.
#5 Darden Restaurants, Inc.
Employees: 180K
Revenue: 8.5B$
Website: https://www.darden.com
Description: Darden Restaurants, Inc. is a leading food service company operating in the Hospitality industry. Headquartered in Orlando, United States, Darden Restaurants owns and operates a variety of well-known restaurant brands including Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, and Bahama Breeze. Founded in 1968, the company has grown to become one of the largest full-service restaurant companies in the world. With approximately 180,000 employees, Darden Restaurants serves millions of guests annually across its diverse portfolio of restaurants. In the fiscal year 2020, the company reported a revenue of 8.5 billion dollars, showcasing its strong presence and success in the industry.
#4 Yum China Holdings, Inc.
Employees: 450K
Revenue: 8.5B$
Website: https://www.yumchina.com/
Description: Yum China Holdings, Inc. is a prominent player in the Food Services industry, operating primarily in China. Headquartered in Shanghai, China, Yum China is one of the largest restaurant companies in the country. With a strong focus on the hospitality sector, the company manages a wide portfolio of well-known brands, including KFC, Pizza Hut, and Taco Bell. Yum China aims to provide high-quality dining experiences to its customers through its extensive network of restaurants across China. In 2019, the company reported revenues of 8.5 billion U.S. dollars, showcasing its significant presence and financial success in the industry. With a workforce of approximately 450,000 employees, Yum China continues to contribute to the growth and development of the food services sector in China.
#3 McDonald's Corporation
Employees: 210K
Revenue: 21.1B$
Website: https://www.mcdonalds.com
Description: McDonald's Corporation, headquartered in Chicago, United States, is a leading fast food restaurant chain operating in the Food Services industry. Founded in 1955, the company has grown to become one of the most recognized and iconic brands globally. With approximately 210,000 employees, McDonald's serves millions of customers daily across its vast network of restaurants. The company's focus is on providing convenient and affordable food options, offering a diverse menu that includes burgers, chicken, breakfast items, salads, and more. McDonald's generates substantial revenue, with an annual revenue of 21.1 billion U.S. dollars. Through its continuous innovation, marketing strategies, and commitment to quality, McDonald's remains a dominant force in the fast food industry.
#2 Starbucks Corporation
Employees: 346K
Revenue: 26.5B$
Website: https://www.starbucks.com
Description: Starbucks Corporation, headquartered in Seattle, United States, is a prominent player in the Food Services industry. Founded in 1971, the company operates thousands of coffeehouses globally, offering a variety of hot and cold beverages, snacks, and other food items. With approximately 346,000 employees, Starbucks is renowned for its premium coffee and customer experience. The company has seen impressive revenue growth, generating 26.5 billion dollars in sales. Starbucks continues to expand its presence in the hospitality industry, maintaining its position as a leader in the global coffee market.
#1 Sysco Corporation
Employees: 69K
Revenue: 52B$
Website: https://www.sysco.com
Description: Sysco Corporation, headquartered in Houston, United States, is a leading player in the Food Services industry. Founded in 1969, the company has grown to become a major distributor of food and related products to restaurants, healthcare facilities, educational institutions, and other hospitality businesses. With a workforce of approximately 69,000 employees, Sysco operates across North America and serves as a reliable partner for its customers in the foodservice sector. The company generates an impressive annual revenue of 52 billion dollars, showcasing its strong market presence and financial success. Through its extensive distribution network, Sysco ensures the timely delivery of quality products, enabling its customers to meet the demands of their own clientele in the dynamic hospitality industry.
Summary
The food services sub-industry within the hospitality sector is a highly competitive market, with several top companies vying for dominance. Based on our analysis, the top companies in this sub-industry include McDonald's, Starbucks, Yum! Brands, Subway, and Dunkin' Brands.
One unexpected finding is the continued success of fast food chains like McDonald's and Subway, despite increasing consumer interest in healthier eating options. These companies have managed to adapt to changing consumer preferences by offering healthier menu items and promoting transparency in their sourcing and ingredient lists.
McDonald's is the largest fast food chain in the world, known for its iconic Big Mac and Happy Meal. Starbucks is the leading coffee chain globally, offering a wide range of coffee beverages and snacks. Yum! Brands is the parent company of popular fast food chains like KFC, Pizza Hut, and Taco Bell. Subway is known for its customizable sandwiches and fresh ingredients. Dunkin' Brands operates Dunkin' Donuts and Baskin-Robbins, offering a variety of donuts, coffee, and ice cream.
Despite their differences, these top companies share several common elements that contribute to their success. They all prioritize customer experience by providing quick service, convenience, and consistency across their locations. These companies also invest heavily in marketing and branding to maintain their strong presence in the market. Additionally, they have embraced technology to enhance their operations, such as mobile ordering and digital payment systems.
What sets these top companies apart from their industry rivals is their ability to innovate and adapt to changing consumer demands. They constantly introduce new menu items, flavors, and promotions to keep customers engaged and attract new ones. Furthermore, these companies have a strong focus on sustainability and corporate social responsibility, implementing initiatives to reduce waste, promote responsible sourcing, and support local communities.