Top 10: Largest Restaurant Chains
The global restaurant landscape is undergoing significant transformation, as the largest chains are facing challenges as well as opportunities.
The restaurant industry, in particular, is grappling with issues including staffing shortages – with many operators struggling to attract and retain talent – and rising operational costs, particularly for ingredients and energy that are squeezing margins.
The industry is also facing pressure to adopt sustainable practices, including reducing food waste and energy consumption and is having to cater to evolving consumer preferences for healthier, plant-based options.
To address these issues, restaurants are innovating with technology, including AI-driven ordering systems and kitchen automation to improve efficiency.
Many are also simplifying menus and adjusting operating hours to manage costs. Efforts to improve staff retention, meanwhile, include raising wages and enhancing benefits.
Yet despite these challenges, the industry is showing resilience, with sales rebounding to pre-pandemic levels and continued growth in off-premise dining options. The following are 10 restaurant chains who are thriving, despite all of these issues. They are ranked by market capitalisation.
10. HaiDiLao Hot Pot
Headquarters: Jianyang, China
CEO: Zhang Yong
Market cap: US$9.78bn
HaiDiLao, founded in 1994, is a Chinese hot pot restaurant chain with over 1,300 outlets across the world.
It employs around 60,000 staff and serves over 100 million customers annually. The company utilises robotic automation and AI for operations and site selection, partnering with Panasonic for smart restaurant technology and Alibaba Cloud for data analytics.
HaiDiLao offers unique services like free manicures and massages to waiting customers and is currently focusing on international expansion through its overseas unit, Super Hi International.
9. Wingstop Restaurants
Headquarters: Texas, USA
CEO: Michael J. Skipworth
Market cap: US$11.23bn
With 2,279 locations globally, Wingstop employs around 500 staff and specialises in chicken wings.
Founded in 1994, the company has developed to now utilise digital ordering platforms and also partners with DoorDash, the technology company that connects consumers and restaurants for delivery services.
Wingstop is expanding internationally, with recent development deals in the UK, France and Australia. The company is currently focusing on its digital initiatives and exploring virtual brands like ThighStop to diversify its menu offerings.
8. Texas Roadhouse
Headquarters: Kentucky, USA
CEO: Jerry Morgan
Market cap: US$11.68bn
Known for its Texan-style cuisine, Texas Roadhouse is innovating with digital ordering platforms, mobile apps, and drive-thru windows.
The company is developing a two-way texting system for curbside pickup and exploring retail opportunities. The chain is also expanding its fast-casual concept, Jaggers.
Founded in 1993, the American steakhouse chain has 600 locations globally and employs thousands of staff.
The company is also currently focusing on enhancing its to-go services and outdoor dining options.
7. Yum China
Headquarters: Shanghai, China
CEO: Joey Wat
Market cap: US$12.20bn
Yum China, founded in 2016 as a spin-off from Yum! Brands, operates over 15,000 restaurants across China, including KFC, Pizza Hut and Taco Bell.
The company employs over 400,000 people and serves millions of customers through its loyalty programmes, with KFC boasting 185 million members and Pizza Hut 60 million.
Yum China is innovating with digital ordering platforms, AI-driven menu personalisation, and a delivery subscription service. The company is expanding its presence in petrol stations through partnerships with CNPC and Sinopec, while also developing its fast-food brand Taco Bell in the Chinese market.
6. Domino’s Pizza
Headquarters: Michigan, USA
CEO: Russell J. Weiner
Market cap: US$16.94bn
Founded in 1960, Domino’s is a multinational pizza restaurant chain with over 18,800 locations in 90 countries, employing thousands globally and operates primarily through franchises.
It is currently developing its international presence and expanding its digital capabilities, and serves millions of customers through its loyalty programmes.
Domino's is innovating with digital ordering platforms, AI-driven menu personalisation, autonomous delivery solutions and driver development programmes.
5. Darden Restaurants
Headquarters: Florida, USA
CEO: Ricardo Cardenas
Market cap: US$17.51bn
Darden Restaurants, founded in 1995 as a spin-off from General Mills, operates over 1,900 restaurants across North America, including Olive Garden, LongHorn Steakhouse, and The Capital Grille.
The company employs 190,000 staff and serves 410 million guests annually. Darden is innovating with digital ordering platforms and data-driven customer relationship marketing. It partners with the National Cattlemen's Beef Association that provides news affecting the beef industry and is currently expanding its specialty brands.
Darden is developing carryout options and focusing on attracting millennial customers through menu revamps, particularly at Olive Garden.
4. Restaurant Brands International
Headquarters: Toronto, Canada
CEO: Joshua Kobza
Market cap: US$33.28bn
Founded in 2014, Restaurant Brands International (RBI) operates over 30,000 restaurants across 100 countries, including Burger King, Tim Hortons, Popeyes and Firehouse Subs.
RBI employs 9,000 staff and serves 410 million customers annually.
Innovating with digital ordering platforms and data-driven customer relationship marketing, the company is adapting to digitalisation.
RBI is expanding its presence in China, by acquiring Popeyes China and Tims China.
RBI’s sustainability initiatives include its Restaurant Brands for Good initiative.
3. Yum! Brands
Headquarters: Kentucky, USA
CEO: David Gibbs
Market cap: US$36.45bn
Yum! Brands employs over one million people through its franchisees.
The company is innovating with AI-driven digital platforms and data analytics, generating nearly $30 billion in digital sales. The firm is expanding its global footprint, focusing on China and developing sustainability initiatives.
Founded in 1997, the company operates over 59,000 restaurants across 155 countries, including KFC, Taco Bell, Pizza Hut, and The Habit Burger Grill.
Yum! collaborates with Cartesian Capital Group and was recognised by TIME Magazine as one of the "Best Companies for Future Leaders" in 2023.
2. Chipotle Mexican Grill
Headquarters: California, USA
CEO: Brian Nicco
Market cap: US$77.12bn
Chipotle Mexican Grill, founded in 1993, operates over 3,200 fast-casual restaurants specialising in customisable burritos, bowls, and tacos.
The company employs approximately 100,000 people and generated $9.872B in revenues in 2023. Chipotle is innovating with AI-driven robotic food assembly and expanding its digital ordering platforms, which accounted for 37.4% of sales in 2023.
The company is developing its Chipotlane drive-thru and investing in sustainability initiatives. Chipotle partners with DoorDash for delivery services and was recognised by Forbes and Fortune for its employer practices.
1. McDonald’s
Headquarters: Chicago, USA
CEO: Chris Kempczinski
Market cap: US$187.65bn
McDonald's operates over 38,000 restaurants in 120 countries, serving 69 million customers daily.
The company employs 205,000 people worldwide and generates revenue through franchise fees and company-operated restaurants.
McDonald's is innovating with AI-driven menu personalisation, digital ordering platforms and drive-thru automation. The firm partners with DoorDash for delivery and collaborates with Chevrolet on custom delivery vehicles.
Founded in 1940, the company is currently expanding its digital capabilities, and focusing on sustainability initiatives and is also enhancing its McCafé brand and exploring new menu items to attract millennial customers.
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