Quick service restaurants and take away are the growing trends in the food service restaurant (FSR) sector. The US food service restaurant market is expected to grow at a CAGR of 10% during the forecast period of 2017–2022. The market, estimated at USD XX billion as of 2016, is projected to reach USD XX billion by 2022. The US is the second largest market for foodservice restaurants, globally, due to the increased dining-out culture.
Primary factors driving the market for food service restaurants includes the increased digitalisation of food service; thus, consumers find it comfortable to book prior and make an online payment. The 100% home delivery system, mainly in the case of pizza delivery, has been another major driver for the market. There is an increased cultural influx due to multinational work culture, which has influenced the growing exotic food taste of consumers. The high coffee consumption in the US is a major driver for the huge café market in the country. However, the increased obesity and health awareness among consumers is affecting the market growth, as most of the fast food is unhealthy. The increasing cost of ingredients, quality and safety are other restraining factors.
The market has been segmented into food service sector type, type, and distribution channel. The total consumer foodservice market is divided into full service restaurants, fast food restaurants, cafes/bars, pizza foodservice, street stalks and kiosks, self-service restaurants, and 100% home delivery restaurants. Full service restaurants hold the largest market share, followed by fast food restaurants. Cafes and bars are growing at a fast rate due to the increased coffee consumption in the US. As per the type of restaurant, the market is segmented as independent consumer foodservice and chained consumer foodservice. The chained consumer food service market is growing at a faster rate due to the increased investments by international brands such as the UK, Chinese restaurants in the US. By distribution type, the market is categorised into eat-in restaurants, take away, home delivery and drive-through restaurants.
Some of the major players capturing the food service restaurant in the US include -
Fast food service restaurants focus on organic produce and healthy food dishes, which is the future spotlight for the market. The organic food demand is growing at fast rate in the US as it is free from any pesticide and chemicals. Many domestic FSRs offer franchise to promote their company, as well as, providing a good opportunity for the market.
Key Deliverables in the Study
China Food Service Restaurant Market - Segmented by Type and Service (2017 - 2022)