Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. The Y-o-Y Growth in Revenue is Driving the Market. The value of the chain restaurant sector in the USA was $138 billion in 2019 which went down dramatically in 2020 due to the lockdowns (Lock, 2021). There are many roles one can take in the industry, and there are more opportunities for advancement than you might think. Market Size & Industry Statistics. The restaurant industry size has reached a whopping 15.3 million in terms of the number of employees. The global fast casual restaurant market attained a value of USD 135.6 billion in 2020, driven by the heightened deployment of innovative production strategies. $799 billion: Restaurant industry sales in 2021, down $65 billion from 2019's pre-pandemic levels ; 14.5 million: Restaurant industry employees at the end of 2021, down 1 million from pre-pandemic levels The United States’ beverage industry is valued at $146 billion. Restaurant Carry-Out is Losing Out to Delivery and Drive-Thru As More Convenient Ordering Options. There are many roles offered in this industry and more opportunities are available for advancement. The chain restaurant sector in the United States was valued at approximately 128.99 billion U.S. dollars in 2020, down from the previous year's total of 158.86 billion U.S. dollars. The National Restaurant Association projected that sales of the restaurant industry will hit a whopping $899 billion this year. Labour wages, rent, tax, food cost, and maintenance cost are sometimes very high particularly in countries such as the USA, the UK, and Canada. Food and beverage sales in the restaurant and foodservice industry are projected to total $789 billion in 2021, up 19.7 percent from 2020, ... Growth of New Business Models . Growing Opportunities for Plant-based Menu Items. ... Market Research Inc. ... “It is a … Embed this chart. Dublin, Nov. 13, 2019 (GLOBE NEWSWIRE) -- The "The US Quick Service Restaurant (QSR) Market with Focus on Pizza Market: Size, Trends & … (Marketline, 2018) Growth rate – market value. The NPD Group Announces 2022 Top 50 US Restaurant Chain Rankings. You also can contact the Office of Size Standards by email at sizestandards@sba.gov or by phone at 202-205-6618. (4) Number of jobs, in thousands, not seasonally adjusted. However, the organized segment is rapidly growing at an annual rate of 16%. Our support available to help you 24 hours a day, five days a week. The hospitality industry in the United States always managed to score a growing number, over the past few years. The US fast food industry market size (by revenue) is $296.6 billion as of 2021. Food technology industry report classifies global market by share, trend, and on the basis of technology type, service type, product type, and region Non-alcoholic drink sales in the U.S. amounted to $414.8 million in 2021. Even before the internet, technology was an important change agent in the food industry. Food Service Market size was valued at USD 3.1 Trillion in 2018 and is projected to reach USD 4.5 Trillion by 2026, growing at a CAGR of 3.2% from 2019 to 2026.. GDP by Industry. This is a 35% increase since 2010. ... San Francisco, CA 94105, United States +1-415-349-0058 or 1-888-202-9519 [email protected] Business Hours . The global Quick Service Restaurant (QSR) market size is projected to reach US$ 23480 million by 2027, from US$ 13260 million in 2020, at a CAGR of 8.5% during 2021-2027. Businesses registered in the System for Award Management (SAM.gov) must update their SAM registration in order to have their small business status updated based on the new size standards effective … Led by platform-to-consumer services, such as DoorDash and Uber Eats, food delivery has expanded from takeaways to anything and everything, adding billions of dollars in potential revenue capture. Moreover, running a restaurant is not cheap. Furthermore, average sales per establishment are $1.2 million. Industry at a Glance (IAG) tables are refreshed every time a source program releases new statistics. IAG pages may contain different tables or levels of data because BLS programs produce differing levels of industry detail. The U.S. has been the leader and founder of many modern-day fast food and quick service restaurant chains. Real gross domestic product (GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021, following an increase of 2.3 percent in the third quarter. ( Source) Projected annual sales in the restaurant industry are $863 billion – that’s 4% of the country’s gross domestic product. Restaurant Industry Facts at a Glance. The primary industry alone, if you just look at independent restaurants, it’s 11 to 12 million employees, and a trillion dollars. After the onset of the COVID -19 pandemic, the consumers in the market began to change their dining behavior and practice social distancing, which affected the revenues of the market studied. Quarter 2022 above average Revenue growth of 20.52 % year on year, Total Ranking #87 and ranking within sector #13. Sales at U.S. eating and drinking places will jump 10.2% in 2021 to an aggregate $548.3 billion as consumers indulge pent-up demand for restaurant experiences they were denied during the pandemic, according to a forecast released by the National Restaurant Association. Growth of the overall the US fast casual restaurant market has also been forecasted for the years 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. McDonald's Corporation Headquarters Type Public company Traded as NYSE: MCD DJIA component S&P 100 component S&P 500 component ISIN US5801351017 Industry Restaurants, real estate Genre Fast food restaurant Founded May 15, 1940 ; 82 years ago (1940-05-15) in San Bernardino, California Founders Richard and Maurice McDonald Ray Kroc Headquarters … How many people work in the restaurant industry in the US? Published April 15, 2022 at 7:02 am. What is the market size of the Quick Service Restaurant (QSR) Ecosystem Market? The quick service restaurant market worldwide is expected to grow with a CAGR of 5.5% during the forecast period from 2019 to 2027, starting from US$ 1.34 Tn in 2018. The size, scope and impact of the U.S. restaurant industry. Chicago, May 11, 2021 — Digital ordering was a lifeline for consumers and U.S. restaurants, particularly full service restaurants, during the pandemic, reports The NPD Group. For safety reasons and to allow for the free flow of traffic for diners and servers, the traffic path between occupied chairs should be at least 18 inches wide. Innovative restaurant water solutions that enhance food and beverage quality. Based on our analysis, the global market exhibited a decrease in sales, registering a 31.46% year on year (YOY) dip in 2020. Revenue Growth Y / Y Revenue Growth Q / Q -5 0 5 10 15 20 25 30 JS chart by amCharts. As a leading contributor to the global restaurant market, the U.S. quick service restaurant (QSR) industry's output has increased by over … The market is projected to grow from USD 2,525.4 billion in 2021 to USD 5,027.9 billion in 2028 at a CAGR of 10.34% during the 2021-2028 period. The rise in the millennial working population with changing preferences to ready to eat foods and change in the taste preferences coupled with the growing need of customized and … On the other hand, higher ROA worsened the negative impact of COVID-19 on stock returns in the U.S. restaurant industry. Table Service, Hotel/Club: 15–18 Square Feet. In scenario A1, full recovery to pre-COVID-19 sales takes three years longer. The National Restaurant Association’s (NRA) 2016 Restaurant Industry Forecast predicts that restaurant industry sales will reach $783 billion this year. Technomic’s Take on 2021. Provides Market Size information to … This particular market was valued at $125.6 billion in 2019 and is expected to reach $209.1 billion by 2026, a CACR of 10.6 percent from 2021 to 2027. The restaurant industry currently has an estimated market value of approximately $384 billion. Pest elimination solutions. The industry is highly fragmented with 1.5 million eating outlets, of which a little more than 3,000 outlets form the organized segment. Quick Service Restaurant (QSR) Ecosystem Market (Digital Signage, Kiosks, Drive through terminals, Point of Sales, Handheld devices, Digital menu cards) - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019. US fast food and quick service restaurants market is expected to grow with a considerable CAGR of 4.7% during the forecast period (2020-2026). Published April 26, 2022 at 12:50 pm. Restaurant Market Statistics. This growth is fueling investors and job seekers looking for an opportunity, while also driving restaurant sale transactions higher. The global beverage market is valued at $1.5 trillion as of 2019. Banquet, Minimum: 10–11 Square Feet. Author: Kevin. Important Notices: 1. And there’s no question this coming decade carries a different feel than the previous one. The global fast food and quick service restaurant market size was valued at USD 257.19 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027. ... San Francisco, CA 94105, United States +1-415-349-0058 or 1-888-202-9519 [email protected] Business Hours . In the year ending March 2021, which covers a full year since the start of the pandemic, restaurant digital orders grew +124% compared to prior year. On average, American adults consume 341.1 drink calories, and American children consume 312.6 drink calories every day. Though the occupancy rates fluctuate from month to month, the overall revenue generated from the segment keeps increasing. Restaurants have replaced physical menus with QR codes, a change that many in the industry believe is likely permanent. In terms of employees, the restaurant industry size fell to 9.9 million in 2020, although it employed 12.3 million people by the end of 2019. Published April 19, 2022 at 8:50 am. According to the National Restaurant Association, restaurants are the Nation’s second-largest private-sector employer, providing jobs for 1 in 10 workers in the U.S. Full-service and fast food restaurants—the two largest segments of the commercial foodservice … China’s Restaurant Industry. Market size of the U.S. quick service restaurant (QSR) industry Press release from: ORION MARKET RESEARCH. 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