The US restaurant market is expected to grow at a CAGR of 3.96% during the period spanning 2019-2023. The market is predicted to reach US$708.9 billion in 2023. The growth in the US restaurant market is driven by numerous factors such as an increasing proportion of single person household, growing percentage of adults living away from home, growing urbanization and rising personal disposable income. The market faces certain challenges such as increasing cost due to the adoption of third-party food delivery services and the falling percentage of casual diners. To overcome these challenges, the market is expected to undertake certain developments like following the trend of plant-based products, drone delivery and sustainable food preparation process.
The US restaurant market can be segmented into following two categories: limited service restaurant and full-service restaurant. In 2018, limited service restaurant held a greater share of the market and the remaining share was held by full-service restaurant. The limited service restaurant market is forecasted to continue growing and is expected to capture a greater share of the market in 2023, than full-service restaurant market. Growth in limited service market is predicted due to the changing dietary habits of consumers and expansion in product portfolios.
The US restaurant market by product can be segmented into following: burger, pizza, coffee, sandwiches, Mexican food and others. In 2018, the largest share of the market was held by burger segment. This was followed by pizza, coffee, sandwiches and Mexican food segment.
Scope of the report:
• The report provides a comprehensive analysis of the US restaurant industry, segmented into limited service restaurant and full-service restaurant.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Yum! Brands, Brinker International Inc., Chipotle Mexican Grill Inc., Texas Roadhouse Inc., McDonald’s Corporation and Dine Brands Global Inc.) are also presented in detail.
Key Target Audience:
• Restaurant Owners
• Supply Chain Partners
• End Users (Businesses/ Consumers)
• Consulting Firms
• Investment Banks
• Government Bodies & Regulating Authorities