The global foodservice industry experienced a 34% decline in patent filings in Q1 2024 compared with the previous quarter. The total number of grants dropped by 16%, resulting in overall patent publications decreasing by 34.9%, according to GlobalData’s Patent Analytics. GlobalData’s databook Foodservice: Patents Trends Q1 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.
Smarter leaders trust GlobalData
Notably, the number of patent applications in the foodservice industry was 185 in Q1 2024, versus 284 in the prior quarter. Filings were down 38% year-on-year and decrease 34% quarter-on-quarter. This compares to a 38% year-on-year decrease in patent grants and 34% decline in quarter-on-quarter.
The top five companies accounted for 23% 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 12, followed by Anheuser-Busch InBev with 12 and DoorDash with 8.
See Also:
Patenting activity was driven by the US with a 50% share of total patent filings
The largest share of patent filings in the foodservice industry in Q1 2024 was in the US with 50%, followed by China (8%) and Brazil (5%). The share represented by the US was 0.08% lower than the 50% share it accounted for in Q4 2023.
For further understanding of GlobalData's Foodservice: Patents Trends Q1 2024, buy the databook here.
Premium Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
