Dining out and eating in restaurants has become an essential part of the American people’s lifestyle. According to the Bureau of Labor Statistics survey in 2018, families with an annual income of at least US$ 70,000 were accountable for 63 percent of total restaurant spending. In the United States, people with higher household’s income have risen steadily over the years and has also contributed partially to the rise of restaurant industry sales. According to this research report, United States Restaurant Market will be US$ 1,064 Million by 2026.
COVID-19 Impact on the Restaurant Industry of the United States
Due to the COVID-19 pandemic, the government had to close the restaurants to stop the spread of the disease. This had a cascading effect on the restaurant sector of the United States. It led to staff layoffs, a sharp decline in income for QSR chains, and the closure of many independent restaurants. However, according to the research, the publisher feels that the worst is behind us, and in the second half of the 2020 restaurant industry will revive. Once the vaccine will come into the market from October to November than the USA restaurant industry will grow at a much faster rate in 2021.
Factors Driving the Market
- There has been significant growth in online ordering due to the increased digitalization of foodservice.
- Demand for organic food is growing in United States homes, so it’s imperative that healthy and organic food will be the focus of restaurants.
- The use of robots in the hospitality industry is rising, thus solving the issue of high labor costs.
In this report, the publisher has done complete assessments of the United States Restaurant market by its segment as Commercial Restaurant Services, Non-commercial Restaurant Services, and Military Restaurant Services market. In addition to this how people in the United States dine out with their family, friends, acquaintances, and contribute to the development of this industry.
This report titled “United States Restaurants Market by Segment (Commercial Restaurant Services, Non-commercial Restaurant Services, and Military Restaurant Services), Commercial Restaurant Services Market by Sub-segment (Full-service Restaurants, Limited-Service Restaurant, Snack, and Non-alcoholic Beverage Bars, Cafeterias, Grill-buffets, and Buffets, Social Caterers, Bars and Taverns and Others), Non-commercial Restaurant Services Market by Sub-segment (Hospitals, Recreation and Sports Centers, Nursing Homes, Colleges and Universities, Primary and Secondary Schools, Community Centers, Transportation, and Others) Restaurant Expenditures (Full-service Restaurants and Limited-service restaurants) Key Players (Mcdonald's Corp., Yum! Brands Inc., Restaurant Brands International Inc., Starbucks Corp., Chipotle Mexican Grill Inc.)” provides an all-encompassing analysis on the United States Restaurants Industry.
By Segment: USA Restaurant Market has been divided into 3 Segments which is further divided into Sub-segments
- Commercial Restaurant Services
- Noncommercial Restaurant Services
- Military Restaurant Services
Sub-segment - Commercial Restaurant Market is divided into 7 Sub-segments
1. Full-service Restaurants
2. Limited-Service Restaurant
3. Snack and Non-alcoholic Beverage Bars
4. Cafeterias, Grill-buffets, and Buffets
5. Social Caterers
6. Bars and Taverns
7. Others
Sub-Segment - Non-commercial Restaurant Market is divided into 8 Sub-segments
1. Hospitals
2. Recreation and Sports Centers
3. Nursing Homes
4. Colleges and Universities
5. Primary and Secondary Schools
6. Community Centers
7. Transportation
8. Others
Restaurant Expenditures: This section covers Restaurant Expenditure Breakup for both the Restaurants
- Full-service Restaurants
- Limited-service Restaurants
All the Restaurant Brands have been covered from 3 Viewpoints
- Overview
- Recent Initiatives
- Revenue Analysis
Company Analysis
- Starbucks
- YUM! Brands, Inc
- McDonald's
- Restaurant Brands International Inc
- Chipotle
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary
Companies Mentioned
- Starbucks
- YUM! Brands, Inc
- McDonald's
- Restaurant Brands International Inc
- Chipotle
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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