Market Trends of united states full service restaurants Industry
Full service restaurants account for nearly one-third of foodservice outlets in the United States
- QSRs accounted for 48.23% of the total foodservice outlets in the United States in 2022, followed by FSRs with 32.9%, equivalent to around 0.32 million restaurants. Some of the popular full service restaurants in the United States in 2020 included Applebee's, with 1,577 outlets, out of which 107 stores were in California, Olive Garden, with 884 outlets, Texas Roadhouse, with 619 restaurants in the United States, IHOP, Chili's, and Red Lobster. The industry's average American Customer Satisfaction Index score for 2020 was just under 80.
- The number of outlets is expected to increase at an average rate of 0.40% Y-o-Y during the forecast period (2023-2029). There were 32,027 FSRs in the United States in 2021. Some of the most popular dishes served at FSRs are burritos, salmon rolls, tuna rolls, California rolls, edamame, menudo, rice, and chilaquiles.
- Owing to COVID-19, almost 1,000 FSRs were closed due to government regulations and reduced sales during the pandemic, negatively affecting overall market sales. The number of online orders has increased since the pandemic; in the last year, more than 60% of Americans ordered food online at least once a week. Online food ordering has grown 300% faster than dine-in since 2014, accounting for roughly 40% of total restaurant sales.
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North American and Latin American cuisines are the second and third most popular cuisines at full service restaurants
- The average order value of FSRs costs around 50.37% higher than that of QSRs. FSRs provide dine-in facilities and entertainment, such as music, to attract the customer’s interest, and employ skilled chefs for the preparation of food. These extra services raise the price value for FSRs. Under FSRs, Asian cuisine is the most popular cuisine, accounting for 47% of the market share in 2022, followed by North American and Latin American cuisine, with a 37% share.
- Different kinds of restaurant chains are available, such as family-style dining, casual dining, and fine dining. IHOP's sales amounted to around USD 3 billion in 2021, making it the leading family-style dining restaurant chain. Olive Garden was the leading casual dining restaurant chain, with sales amounting to around USD 4.18 billion in 2021. Ruth’s Chris Steak House's sales amounted to around USD 636 million in 2021, making it the leading fine-dining restaurant chain in the United States.
- In the United States, some of the popular dishes include burritos (around USD 10 per plate), huevos rancheros (around 12.5 per plate), salmon and tuna rolls (around USD 8 per plate), and edamame (around USD 7 per plate). Other popular dishes are rice (around USD 3.5 per plate), salads (around USD 13 per plate), and poke bowls (around USD 13.5 per plate).
- The average order value increased by 16.23% from 2017 to 2022. Owing to the rising inflation rate, which increased by an average of 6-7% from 2017 to 2022, the number of orders increased to more than 16,000 in 2022 per restaurant.
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