F&B: Hot And Tasty

Key Summary:
- China case study: Haidilao
- Industry comparable and valuation
- Indonesian market
The F&B (Food and Beverages) business is an interesting sector to analyze. Globally, there have been many players over the past decades. The old guards of F&B in the world had been McDonalds, KFC and Starbucks, whose market capitalization are USD200bn, USD64bn and USD100bn, respectively. These are mostly US companies, the nation whose influence had been followed in the past decades.
However, cultural and lifestyle influence led by the East have been growing rapidly all around the world such as the rise of Asian F&B (i.e. Bubble tea). One Chinese F&B player that has marked its name globally is Haidilao Hot Pot, a household name known for its the famous Chinese hotpot. It has a market cap of USD12bn, though was valued over USD53bn at one point in 2021.