|Study Period:||2016 - 2026|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The US foodservice market is projected to witness a CAGR of 3.7% during the forecast period, 2021-2026.
After the onset of the COVID -19 pandemic, the consumers in the market have begun to change their dining behavior and practice social distancing, which had affected the revenues of the market studied. As per the survey conducted by the market experts, since the start of the lockdown effort, foot traffic to fast food and casual dining restaurants has decreased by 45% and 67%, respectively.
Increased digitalization of food service is among the primary factors driving the market, as consumers find it comfortable to book prior and make payments online.
Fast food restaurants focusing on organic produce and healthy food are expected to be the focus of the market in the future. In the United States, the demand for organic food is rapidly rising.
However, factors like rising obesity and health awareness among consumers affect market growth, as most fast food products are unhealthy.
Scope of the Report
The foodservice industry encompasses all of the activities, services, and business functions involved in preparing and serving food to people eating away from home. The scope of the US foodservice market includes segmentation of food service providers in the country by types such as full-service restaurant, self-service restaurant, fast food, street stall and kiosk, cafe and bar, and 100% home delivery restaurant. Further segmentation is done based on a foodservice structure such that into independent consumer foodservice and chained consumer foodservice. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|Full Service Restaurant|
|Self Service Restaurant|
|Street Stall and Kiosk|
|Cafe and Bar|
|100% Home Delivery Restaurant|
|Independent Consumer Foodservice|
|Chained Consumer Foodservice|
Key Market Trends
Increased Consumer Spending in Quick Service Restaurants (QSR)
Quick service restaurants (QSRs) are fast food restaurants, set apart from full service or table restaurants by their limited menus, minimal table service, and, as their name implies, fast service. QSRs are popular in the United States; it was estimated that there were 194,723 quick-service restaurant franchise establishments in 2018. Quick service restaurants include limited-service eating places, cafeterias, fast-food restaurants, beverage bars, ice cream parlors, pizza-delivery establishments, carryout sandwich shops, and carry out service shops with on-premises baking of doughnuts, cookies, and bagels. Contemplating the ease of food consumption in QSRs has led people in the United States to spend in these restaurants, therefore, driving the country's foodservice market.
To understand key trends, Download Sample Report
Growing Online Food Delivery Services
The online food delivery services by restaurants, as well as various platforms, have surged the foodservice market in the United States. Restaurants and other foodservice providers have been actively engaging in digitalizing their operations. There has been a rise in the number of consumers who prefer to order food online, and the number is expected to grow. The home delivery system, mainly in the case of pizza, has been another primary driver for the market. Online platforms to order food for delivery have been successful concepts due to the ease of choosing food items and convenient payment procedures. Notably, in 2018, more than 70 million consumers in the United States were engaged in ordering food online from restaurants.
The US foodservice market is a highly fragmented market due to the presence of various giant players and local players such as Mcdonald's Corp., Yum! Brands Inc., Starbucks Corp., Inspire Brands, and other companies. The chained consumer foodservice segment is growing rapidly due to the increased investments by international brands. Introducing new exotic flavors and mixes is the strategy adopted by the companies to gain a competitive advantage in the market. According to the latest consumer trend, the introduction of organic food products in the market is likely to raise the prospects of the companies in the same.
In 2020, Yum Brands announced the agreement to acquire The Habit Burger Grill, America’s fast-casual concept, for approximately USD 375 million.
In 2019, McDonald's Corporation announced the transition of US McCafe restaurants to 100% sustainably sourced outlets. The ground and whole bean coffee of the company achieved sustainability.
In 2019, Subway relaunched its Ultimate Cheesy Garlic Bread, owing to the high demand from consumers. The product was made available in three flavors.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Full Service Restaurant
5.1.2 Self Service Restaurant
5.1.3 Fast Food
5.1.4 Street Stall and Kiosk
5.1.5 Cafe and Bar
5.1.6 100% Home Delivery Restaurant
5.2 By Structure
5.2.1 Independent Consumer Foodservice
5.2.2 Chained Consumer Foodservice
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 McDonald's Corp.
6.4.2 Yum! Brands Inc.
6.4.3 Doctor's Associates Inc.
6.4.4 The Wendy's Company
6.4.5 Restaurant Brands International
6.4.6 Starbucks Corp.
6.4.7 Chipotle Mexican Grill Inc.
6.4.8 Papa John's
6.4.9 Inspire Brands
6.4.10 Domino‘s Pizza Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The United States Foodservice Market market is studied from 2016 - 2026.
What is the growth rate of United States Foodservice Market?
The United States Foodservice Market is growing at a CAGR of 3.7% over the next 5 years.
Who are the key players in United States Foodservice Market?
McDonald's Corp., Yum! Brands Inc., Starbucks Corp., Doctor's Associates Inc., Restaurant Brands International are the major companies operating in United States Foodservice Market.