The global foodservice industry experienced a 23% decline in patent filings in Q3 2023 compared with the previous quarter. The total number of grants dropped by 8%, resulting in overall patent publications decreasing by 23.3%, according to GlobalData’s Patent Analytics. GlobalData’s databook Foodservice: Patents Trends Q3 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 214 in Q3 2023, versus 279 in the prior quarter. Filings were down 44% year-on-year and decrease 23% quarter-on-quarter. This compares to a 44% year-on-year decrease in patent grants and 23% decline in quarter-on-quarter.
The top five companies accounted for 15% 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 10, followed by Anheuser-Busch InBev with 10 and Panasonic with 5.
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 Q3 2023 was in the US with 50%, followed by China (9%) and South Korea (9%). The share represented by the US was 11% higher than the 39% share it accounted for in Q2 2023.
For further understanding of GlobalData's Foodservice: Patents Trends Q3 2023, buy the databook here.