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 for the rise of restaurant industry sales. According to Renub Research report, United States Restaurant Market will be US$ 1,064 Million by 2026.
COVID Impact on Restaurant Industry of the United States
Due to COVID-19 pandemic, the government had to close the restaurants to stop the spread of 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 closure of many independent restaurants. However, according to our research, we feel 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 in October to November than 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 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 labour cost.
In this report, we have done complete assessments on 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.
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According to the latest report by Renub Research, titled "United States Restaurants Market, Forecast by Segment, Commercial Services by Sub-segment, Non-commercial Services by Sub-segment, Restaurant Expenditures, Key Players" Consequently, restaurants are standard in the United States; they are now part of every developed country.
The food dollar proportion of the restaurant industry has increased from 25 per cent in 1955 to 51 per cent in 2019.
According to Renub Research analysis, the United States Restaurant Market will be US$ 1,064 Million by the end of the year 2026.Various factors are driving the growth of the U.S. restaurant industry, such as an increasing proportion of single-person households, a rising percentage of adults living away from home, increasing urbanization and increasing disposable personal income.
In the country, organic food demand is growing rapidly.• Factors such as growing obesity and public health consciousness, however, impact the growth of the industry, as most fast food items are considered unhealthy.COVID's effect on the U.S. restaurant industryThe government had to close the restaurants because of the COVID-19 pandemic to avoid the spread of the disease.
The market will grow once the vaccine is available in the market from November to December, the restaurant industry in the United States will expand at a much faster pace in 2021.Request a free Brochure copy of the report: https://www.renub.com/request-brochure-page.php?gturl=united-states-restaurant-market-p.phpMarket Summary:By Segment: This research report provides the market and market share of Commercial Restaurant Services, Non-commercial Restaurant Services and Military Restaurant Services.By Sub-segment for Commercial Restaurant Services: The market and market share of Full-service Restaurants, Limited-Service Restaurant, Snack and Non-alcoholic Beverage Bars, Cafeterias, Grill-buffets, and Buffets, Social Caterers, Bars and Taverns and Others)By Sub-segment for Non-commercial Restaurant Services: Hospitals, Recreation and Sports Centers, Nursing Homes, Colleges and Universities, Primary and Secondary Schools, Community Centers, Transportation and Others are covered with market and market share in this report.By Company Analysis: Mcdonald's Corp., Yum!
Brands Inc., Restaurant Brands International Inc., Starbucks Corp., Chipotle Mexican Grill Inc. are covered with Overview, Recent Development and Initiatives and Sales Analysis.About the Company:Renub Research is a Market Research and Consulting Company.
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