US Food Service Restaurant Market Outlook 2031
The US food service restaurant market size is was valued at USD 824.61 Billion in 2022 and is likely reach to USD 1.94 Trillion by 2031, expanding at a CAGR of 5.4% during the forecast period, between 2023 and 2031. The food service sector includes all activities, services, and business operations involved in preparing and providing meals for people who dine out of their homes.
Food service distributors are businesses that supply food operator services. This market includes school and hospital cafeterias, restaurant operations, and a variety of other restaurant forms. Certain corporations produce consumer and restaurant versions of their items.
Small items (kitchen utensils) and food are sold by food service distributors. The catering version is typically packaged in a bigger size and lacks the labeling found on the consumer version. The consumer version is typically sold in individual-size containers with an elaborate retail label design.
US Food Service Restaurant Market Trends, Drivers, Restraints, and Opportunities
- Rising emphasis on organic products and nutritious food is a key trend among fast food restaurants.
- Rising millennial working population and growing need for ready-to-eat foods are driving the market.
- Increasing digitalization of food service, as consumers find it more convenient to schedule ahead of time and make payments online drives the market.
- Growing demand for individualized and unique food options fuels the market.
- Most fast foods are unhealthy, and are believed to cause obesity. Rising consumer awareness regarding health is hindering the market.
Scope of The Food Service Market Report
The report on the US food service restaurant market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Food Service Restaurant Market - US Industry Analysis, Size, Share, Growth, Trends And Forecast
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Base Year
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2022
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Historic Data
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2016 - 2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Full-service Restaurant, 100% Home Delivery Restaurant [Online], Fast Food, Street Stall and Kiosk, Cafe & Bar, and Self Service Restaurant), Structures (Chained Consumer Foodservice and Independent Consumer Foodservice), End-users (Educational Premises, Commercial & Offices, In-transit Food Service, Sports Centers, Hospital & Nursing Homes, Malls, and Industrial Premises)
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Country Scope
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US
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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Burger King Worldwide Inc.; Starbucks Corp.; Subway IP LLC; Chipotle Mexican Grill Inc.; McDonald's Corp.; Jubilant FoodWorks; Sonic Drive-In; Papa John's; Yum! Brands Inc.; and Sodexo
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US Food Service Restaurant Market Segment Insights
Online segment is projected to hold a significant market share
Based on types, the US food service restaurant market is segregated into a full-service restaurant, 100% home delivery restaurant, fast food, street stall and kiosk, cafe & bar, and self-service restaurant. The 100% home delivery restaurant segment is categorized as online. This segment is projected to hold a significant share of the market.
The expansion of e-commerce/online platforms, on-the-go food services, packaging innovations, gluten-free items, and introduction of low-fat beverages, among others, are boosting segment growth. Increasing digitalization of food service, as consumers find it convenient to schedule ahead of time and make payments online fuels the 100% home delivery restaurant segment. Growing demand for mobile eateries, such as food trucks, is boost the full-service restaurants segment.
Chained consumer foodservice segment is anticipated to account for a substantial share
On the basis of structures, the market is bifurcated into chained consumer foodservice and independent consumer foodservice. The chained consumer foodservice segment is anticipated to account for a substantial share. The segment is rapidly expanding due to high investments by companies worldwide.
These companies gain a competitive advantage in the market by providing unique flavors and mixtures. According to the recent consumer trend, the introduction of organic food goods into the market is likely to fuel the segment.
Commercial & Offices segment to expand at a robust pace
In terms of end-users, the US food service restaurant market is fragmented into educational premises, commercial & offices, in-transit food service, sports centers, hospital & nursing homes, malls, and industrial premises.
The commercial & offices segment is estimated to expand at a rapid pace during the forecast period due to the increase in the number of restaurants, cafés, and dine-out establishments, that provide a unique experience, food menu, taste, and cuisines that contribute to the value supplied by these services. The young generation has a greater propensity to attend these venues to mingle, connect, and spend time, thus fueling the segment growth.
Segments
By Types
- Full-Service Restaurant
- 100% Home Delivery Restaurant
- Fast Food
- Street Stall and Kiosk
- Cafe & Bar
- Self Service Restaurant
By Structures
- Chained Consumer Foodservice
- Independent Consumer Foodservice
By End-users
- Educational Premises
- Commercial & Offices
- In-transit Food Service
- Sports Centres
- Hospital & Nursing Homes
- Malls
- Industrial Premises
By Country
By Key Players
Competitive Landscape
Key players in the US food service restaurant market are Burger King Worldwide Inc.; Starbucks Corp.; Subway IP LLC; Chipotle Mexican Grill Inc.; McDonald's Corp.; Jubilant FoodWorks; Sonic Drive-In; Papa John's; Yum! Brands Inc.; and Sodexo.
These players are actively engaged in several market development activities such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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