The global foodservice industry experienced a 17% decline in patent filings in Q4 2023 compared with the previous quarter. The total number of grants dropped by 10%, resulting in overall patent publications decreasing by 17.8%, according to GlobalData’s Patent Analytics. GlobalData’s databook Foodservice: Patents Trends Q4 2023 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Notably, the number of patent applications in the foodservice industry was 227 in Q4 2023, versus 276 in the prior quarter. Filings were down 34% year-on-year and decrease 17% quarter-on-quarter. This compares to a 34% year-on-year decrease in patent grants and 17% decline in quarter-on-quarter.
The top five companies accounted for 20% of patenting activity
Analysis of patenting activity by companies shows that the largest number of patents filed over the last quarter was by Starbucks with 16, followed by Anheuser-Busch InBev with 14 and maxingvest with 7.
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Patenting activity was driven by the US with a 63% share of total patent filings
The largest share of patent filings in the foodservice industry in Q4 2023 was in the US with 63%, followed by China (6%) and Australia (3%). The share represented by the US was 24% higher than the 39% share it accounted for in Q3 2023.
For further understanding of GlobalData's Foodservice: Patents Trends Q4 2023, buy the databook here.
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