Market Size of united states full service restaurants Industry
| Icons | Lable | Value |
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 324.90 Billion |
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Market Size (2029) | USD 554.12 Billion |
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Largest Share by Cuisine | North American |
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CAGR (2024 - 2029) | 11.27 % |
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Fastest Growing by Cuisine | Middle Eastern |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
United States Full Service Restaurants Market Analysis
The United States Full Service Restaurants Market size is estimated at 324.90 billion USD in 2024, and is expected to reach 554.12 billion USD by 2029, growing at a CAGR of 11.27% during the forecast period (2024-2029).
324.90 Billion
Market Size in 2024 (USD)
554.12 Billion
Market Size in 2029 (USD)
6.67 %
CAGR (2017-2023)
11.27 %
CAGR (2024-2029)
Largest Segment by Outlet Type
73.68 %
value share, Independent Outlets, 2023
Consumers' heightened interest in restaurants focused on a specific cuisine and outlets focusing on particular food concepts have driven the market recently.
Largest Segment by Cuisine Type
38.06 %
value share, North American, 2023
Dishes like pancakes, burgers, sandwiches, chili, and fried chicken have continued to remain the most popular part of the restaurant industry in the United States.
Fastest-growing segment by Outlet Type
11.65 %
Projected CAGR, Chained Outlets, 2024-2029
Asian and Latin American restaurant chains are expected to grow their networks, and they are expected to observe significant market growth during the forecast period.
Fastest-growing segment by Cuisine Type
11.99 %
Projected CAGR, Middle Eastern, 2024-2029
The cuisine is expected to grow in demand with components like ethnic and locally-sourced ingredients and dishes with fresh vegetables and vegetarian appetizers.
Leading Market Player
3.33 %
market share, Darden Restaurants Inc., 2022
It has over 1,800 restaurants across the United States, with Olive Garden, LongHorn SH, and Capital Grille being the famous brands. High-quality food and customer service have made it a popular choice.
A significant rise in tourist arrivals is driving the market growth, capitalizing on the opportunities presented by the influx of visitors
- North American cuisine is projected to register a CAGR of 11.12% during the forecast period. With the rise in out-of-home consumption after COVID-19, 80% of US people prefer ethnic cuisines at least once a month in fine dining restaurants. In addition, as the number of tourists grew, the desire for American food surged. For instance, in 2022, overseas visitors numbered 51.35 million compared to 22.1 million in 2021.
- In the United States, Hawaii has the most diverse population, accounting for nearly 76% of the total. Therefore, Asian culture has grown significantly, with restaurants offering a range of Pan-Asian cuisines. However, due to the constant migration of Asian populations, particularly Chinese, Japanese, and Indians, their cultural impact has spread beyond territorial barriers. As of 2020, 5.1 million Chinese immigrants were in the United States. Thus, the preference for Chinese cuisine is more popular. With the rising demand for Asian foods, FSRs used to keep a wide assortment of Asian cuisines.
- By cuisine type, Latin American cuisine in full service restaurants is expected to register a CAGR of 10.92% during the forecast period. Mexican food remains the most popular ethnic eating trend among consumers, prompting establishments to focus on more genuine Mexican meals.
- In terms of consumption, nachos, salsa, tacos, and burritos were the most consumed Mexican food. In terms of consumption, in 2022, 79% of the people in the United States consumed nachos. As customer preferences shift toward Tex-Mex delicacies, most Texas-based fine dining restaurants, like Costa Pacifica, Rio Rio Cantina, and Rosario's Mexican Restaurant, offer a range of Mexican fusion cuisines.
Understand The Key Trends Shaping This Market
