(Food-Beverage-News.Com, September 25, 2020 ) Dining out and eating in restaurants has become an essential part of the American people’s lifestyle. According to the Bureau of Labor Statistics survey in 2018, families with an annual income of at least US$ 70,000 were accountable for 63 percent of total restaurant spending. In the United States, people with higher household’s income have risen steadily over the years and has also contributed partially for the rise of restaurant industry sales. According to Renub Research report, United States Restaurant Market will be US$ 1,064 Million by 2026.
COVID Impact on Restaurant Industry of the United States
Due to COVID-19 pandemic, the government had to close the restaurants to stop the spread of disease. This had a cascading effect on the restaurant sector of the United States. It led to staff layoffs, a sharp decline in income for QSR chains and closure of many independent restaurants. However, according to our research, we feel that the worst is behind us and in the second half of the 2020 restaurant industry will revive. Once the vaccine will come into the market in October to November than USA restaurant industry will grow at a much faster rate in 2021.
Factors Driving the Market
• There has been significant growth in online ordering due to increased digitalization of foodservice. • Demand for organic food is growing in United States homes, so it’s imperative that healthy and organic food will be the focus of restaurants. • The use of robots in the hospitality industry is rising, thus solving the issue of high labour cost.
In this report, we have done complete assessments on United States Restaurant market by its segment as Commercial Restaurant Services, Non-commercial Restaurant Services, and Military Restaurant Services market. In addition to this how people in the United States dine out with their family, friends, acquaintances and contribute to the development of this industry.
Renub Research report titled “United States Restaurants Market by Segment (Commercial Restaurant Services, Non-commercial Restaurant Services and Military Restaurant Services), Commercial Restaurant Services Market by Sub-segment (Full-service Restaurants , Limited-Service Restaurant , Snack and Non-alcoholic Beverage Bars ,Cafeterias, Grill-buffets, and Buffets, Social Caterers, Bars and Taverns and Others), Non-commercial Restaurant Services Market by Sub-segment (Hospitals, Recreation and Sports Centers, Nursing Homes, Colleges and Universities, Primary and Secondary Schools, Community Centers, Transportation and Others) Restaurant Expenditures (Full-service Restaurants and Limited-service restaurants) Key Players (Mcdonald's Corp., Yum! Brands Inc., Restaurant Brands International Inc., Starbucks Corp., Chipotle Mexican Grill Inc.) ” provides an all-encompassing analysis on the United States Restaurants Industry.
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