Italy's Osteria Francescana took the top spot at the World's 50 Best Restaurants awards ceremony on Tuesday, garnering praise for playful use of local ingredients in dishes including "Five Ages of Parmigiano Reggiano.

It was the second time in three years the restaurant, which serves up modern Italian fare in Modena, in Italy's northern gastronomic heartland, has headed the list, entries on which are now as coveted as Michelin stars.

Organizers said Osteria Francescana combines "nods to tradition with fierce modernity, philosophical conceptions with old-fashioned flavour, warmth with daring.