(I-BusinessNews.Com, September 25, 2020 ) 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.
Renub Research 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.
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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:
• 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
Industry Related Opportunity:
Turkey Hotel Market: https://www.renub.com/turkey-hotel-market-p.php
Japan Hotel Market: https://www.renub.com/japan-hotel-market-p.php
About Company:
Renub Research is a Market Research and Consulting Company. We have more than 10 years of experience especially in international Business-to-Business Researches, Surveys and Consulting. We provide wide range of business research solutions that helps companies in making better business decisions. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Our wide clientele comprises of major players in Life Sciences, Information Technology, Telecom, Travel & Tourism, Financial Services (Banking, Insurance), Energy, Retail, Manufacturing, Automotive, and Social sector. Our clients rely on our market analysis and data to make informed knowledgeable decisions. We are regarded as one of the best providers of knowledge. Our pertinent analysis helps consultants, bankers and executives to make informed and correct decisions.
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Rajat Gupta
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