(I-BusinessNews.Com, November 24, 2020 ) 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. A larger percentage of Americans eat out, with increased frequency. 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. Because of the adoption of third-party food delivery services and the declining percentage of casual diners, the industry faces some challenges, such as rising prices. The industry is expected to pursue such innovations, such as following the trend of plant-based goods, the distribution of drones and the sustainable method of food preparation, to overcome these challenges.
Few Points for Growing Market
Â The increased digitalization of food services is one of the key factors driving the United States Restaurant Market, as customers find it convenient to pre-book and make online payments.
Â In the future, the target of the market is projected to be fast food restaurants based on organic produce and nutritious food. In the country, organic food demand is growing rapidly.
Â 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 industry
The government had to close the restaurants because of the COVID-19 pandemic to avoid the spread of the disease. That had a cascading impact on the United States’ restaurant market. This resulted in the layoffs of workers, a sharp drop in profits for Restaurants chains and the closing of several independent restaurants. 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.
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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.
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