Fullservice and Fast-Food Restaurants
To find the growth rate for the full restaurant segment and the fast-food segment in the US and the main growth drivers for these two segments.
Fullservice Restaurants Growth Rate
- In 2019 fullservice restaurants U.S. sales have grown by 3.6% compared to 2018, increasing from $274.8 billion to reach $285.3 billion.
- Historically, between 1970 and 2019, the annual growth rate is 6.4%.
Fast-Food Restaurants Growth Rate
- In 2019, the growth rate for U.S. quick service restaurants was 3.2% compared to 2018, with sales growing from $239.1 billion to $246.7 billion in one year.
Drivers for Additional Restaurants Sales
- According to the Nation’s Restaurant Association’s senior vice president of the research and knowledge group Hudson Riehle, customers will be tempted to spend more in restaurants that have flexible pricing promoted through video menu boards.
- Another driver for the growth of the restaurant industry is the off-premise consumption which has reached 60%. It is predicted that by 2025, this number will be even higher with 80% of restaurant meals being consumed off-premise. This evolution will affect packaging and the selection of restaurants sites.
- As demographics will change in 10 years, with a more diverse population increasing, it will be crucial for restaurants to adapt their menus and campaigns towards multicultural customers.
PROPRIETARY RESEARCH AVAILABLE
- We found some proprietary research from one of our data partners which may be helpful:
- The US Restaurant Market (Limited Service & Full-service): Insights, Trends & Forecast (2019-2023) (Koncept Analytics, $1,800)
- Research section on The US Full-Service Restaurant Market Forecast by Value ($62.65)
- Research section on The US Limited Service Restaurant Market Forecast by Value ($69.91)
If you'd like us to purchase any of these reports on your behalf, just let us know!
Proposed next steps:
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During one hour of research, we managed to find the growth rate of the full-service and quick-service segments of the restaurant industry in the US for 2019, as well as some growth drivers. We propose to carry on the research by looking for forecast growth rates for the next 5-10 years.
In addition, we propose to provide 3-5 trends that will have an impact on US restaurants in the future.