Quick service restaurants, and take away are the growing trends in the food service restaurant (FSR) sector in the US. The US food service restaurant market is expected to register a CAGR of 10%, during the forecast period of 2018–2023. The US is the second largest market for foodservice restaurants, globally, due to the increased dining-out culture.
Fast food service restaurants focusing on organic produce, and healthy food is the future spotlight for the market. The organic food demand is growing at a fast rate in the US. Many domestic FSRs offer franchise to promote their company, as well as, provide a good opportunity in the market.
Primary factors driving the market for food service restaurants in the US include the increased digitalization of food service, thus, consumers find it comfortable to book prior, and make an online payment. The home delivery system, mainly in the case of pizza, 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 are 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, 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 home delivery restaurants. Full service restaurants hold the largest market share of 26%, followed by fast food restaurants in the US. 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 restaurants.
Major Players: Mcdonald's Corp., Yum! Brands Inc., Burger King Worldwide Inc., Starbucks Corp., Chipotle Mexican Grill Inc., Doctor's Associates Inc., Seven & I Holdings Co. Ltd., Dunkin' Donuts, Sonic Drive-In, Papa John's. The chained consumer food service market is growing at a faster rate due to the increased investments by international brands, such as the UK, China, and restaurants in the US. By distribution type, the market is categorized into eat-in restaurants, take away, home delivery, and drive-through restaurants.
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