The USA food service industry size is expected to reach USD 1995.0 billion by 2033. It is anticipated to cross a valuation of around USD 985.5 billion by 2023.
The market is likely to exhibit considerable growth at a CAGR of 7.3% from 2023 to 2033.
In 1970, around 26.3% of all food expenditures went toward eating out. By 2012, that percentage had risen to 43%.
Growing trends in the USA include increasing number of two-earner households, high earnings, small-sized families, easy accessibly, and emergence of inexpensive food options. These factors combined are expected to drive food service demand in the USA.
Apart from that, rising investments by leading food service companies in the country on advertising and promotions would also propel demand.
Several USA-based restaurants were compelled to close or operate at reduced capacity during the pandemic back in 2020. It was due to supply-chain disruption brought on by stay-at-home orders, business closures, and social distance mandates.
These considerations might have influenced customers' food acquisition behaviors, making food at home a more favored option than food away from home. Millennials’ deliberate avoidance of dining out due to the perceived danger of virus infection and rise of online grocery shopping are also contributing to growth.
In 2021, food-away-from-home spending accounted for 55% of total food expenses, returning to pre-pandemic levels, according to the USA Department of Agriculture.
Due to their hectic schedules, modern customers are increasingly deciding not to take meal or dine on the move. Various significant market trends such as the expanding popularity of food trucks, are anticipated to have a favorable impact on the food truck sector during the forecast period.
Vegetarianism is growing in terms of acceptance in the USA. It is nowadays becoming a popular eating trend among Americans, which helps increase demand for food and hospitality services.
Growth of the restaurant and food service sector has also been aided by rising popularity of eating out.
A key driver pushing the industry is rising digitization of food services, as customers find it convenient to make reservations and payments online.
Online takeaway and delivery services are also becoming increasingly popular and are in high demand today. This is in addition to online payments.
It is anticipated that fast food restaurants that serve wholesome cuisine and organic products would remain at the forefront. Need for food that is organic is increasing quickly in the USA.
Given that numerous fast food items are harmful, it has led to increased obesity and health consciousness among today’s customers. This might have a negative impact on market expansion.
| Attributes | Key Insights |
|---|---|
| USA Food Service Industry Estimated Size (2023E) | USD 985.5 billion |
| Projected Market Valuation (2033F) | USD 1995.0 billion |
| Value-based CAGR (2023 to 2033) | 7.3% |
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 8.9% |
| Jul to Dec (H2), 2021 (A) | 10.7% |
| Jan to Jun (H1), 2022 Projected (P) | 6.7% |
| Jan to Jun (H1), 2022 Outlook (O) | 26.2% |
| Jul to Dec (H2), 2022 Outlook (O) | 18.6% |
| Jul to Dec (H2), 2022 Projected (P) | 7.1% |
| Jan to Jun (H1), 2023 Projected (P) | 6.9% |
| BPS Change : H1,2022 (O) to H1,2022 (P) | 1,951 |
| BPS Change : H1,2022 (O) to H1,2021 (A) | 1,730 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | 1,148 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | 788 |
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Future Market Insights (FMI) projects the USA food service market to remain lucrative, exhibiting growth at 7.3% CAGR between 2023 and 2033. The restaurant and food service industry in the USA is a multibillion-dollar market.
Given the establishment of restaurants and other food service businesses, half of all adults have worked in food service in a few capacities at certain time in their lives.
The food service sector includes any business that serves meals to customers outside of their homes. This includes restaurants, takeout establishments, cafeterias, university dining halls, catering & vending companies, inns & motels.
It has also grown to include rehabilitation & retirement facilities.
Wait staff, hosts, busboys, and bartenders are a few examples of front-of-house employees. Their training and performance directly correlates to sales in this industry. On the other hand, cooks, dishwashers, chefs, and supervisors are examples of back-of-house employees.
Fast food restaurants employ only food preparation workers, cashiers, and supervisors. The food truck trend brings a mobility component to food service. Only a few people are needed to operate the truck, prepare food, and serve it from a window counter, which makes business easier.
Due to the difficulty of cooking at home as a result of Americans' increasingly busy lifestyles, restaurant and food businesses have expanded steadily.
According to the National Restaurant Association, restaurants employ approximately 15.6 million people in the USA, with an additional 1.6 million restaurant jobs anticipated to be created by 2030.
| Market Statistics | Details |
|---|---|
| Jan to Jun (H1), 2021 (A) | 9.1% |
| Jul to Dec (H2), 2021 (A) | 10.6% |
| Jan to Jun (H1), 2022 Projected (P) | 5.7% |
| Jan to Jun (H1), 2022 Outlook (O) | 23.3% |
| Jul to Dec (H2), 2022 Outlook (O) | 17.6% |
| Jul to Dec (H2), 2022 Projected (P) | 6.7% |
| Jan to Jun (H1), 2023 Projected (P) | 6.2% |
| BPS Change : H1,2022 (O) to H1,2022 (P) | 1,760 |
| BPS Change : H1,2022 (O) to H1,2021 (A) | 1,420 |
| BPS Change: H2, 2022 (O) to H2, 2022 (P) | 1,090 |
| BPS Change: H2, 2022 (O) to H2, 2022 (A) | 700 |
Principal Consultant
Fast Food Outlets to Exhibit High Demand for Food Service Equipment in the USA
Based on service type, the fast food outlet segment is projected to remain at the forefront throughout the estimated time frame. One of the primary reasons for expansion of fast food outlets is their high convenience.
Fast food restaurants are typically located in convenient, high-traffic areas such as busy intersections and shopping centers. They offer quick and easy access to food for busy consumers who are on-the-go and do not have a lot of time to spend on meals.
Brand recognition is also contributing to the expansion of fast food outlets in the USA.
Fast food chains such as McDonald's, Burger King, and Wendy's have become household names. These command strong brand recognition and loyal customer bases. This makes it easier for these chains to expand into new markets and attract a large client base.
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During the projected period, the USA catering service industry is expected to flourish at aCAGR of 6.1%.The market value is projected to increase fromUSD 76.7 billionin 2023 toUSD 138.2 billionby 2033.
The industry was valued atUSD 70.5 billionat the end of 2022. It exhibited a CAGR of 1.2% during the historical period from 2018 to 2022.
Rise of events and celebrations across the USA is projected to fuel catering service demand. Weddings, corporate events, and other social gatherings often require catering services to provide food & beverages for large groups of people.
As these events become more frequent and elaborate, need for catering services is expected to continue to rise.
The convenience offered by catering services is also contributing to their surging demand. Modern consumers are nowadays looking for ways to save time and reduce stress, for which catering services provide convenient solutions.
Caterers can handle all aspects of food preparation, delivery, and service.This frees up time and resources for clients to focus on other aspects of their events or celebrations.
Outdoor Catering Services to Showcase Immense Popularity by 2033 in the USA
Demand for outdoor catering is rising in the USA due to several factors. One of the significant reasons is growing popularity of outdoor events.
Outdoor events have become increasingly popular in recent years as they offer unique and memorable experiences. These include weddings, corporate events, and social and family gatherings.
Outdoor catering services are well-suited for these events, as they can provide customized menus and services that cater to the unique needs and preferences of the event.
Desire for unique dining experiences is another factor augmenting the need for outdoor catering. Millennials are increasingly interested in unique and memorable dining experiences, and outdoor catering services provide just that.
From themed events to unique venues, outdoor catering services offer a wide range of options that can create a truly memorable dining experience.
Earlier, service portfolios were less diverse, but as time has passed and service demand has increased, leading players are focusing on new service formation.
Companies such as Uber Eats, Zipline, UPS, Matternet, Wing, Flytrex, Zing, Amazon, Wingcopter, Elroy Air, Joby Aviation, Volkswagen, and Wisk Aero are starting to broaden their service range and increase their market reach.
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| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 985.5 billion |
| Projected Market Valuation (2033) | USD 1995.0 billion |
| Value-based CAGR (2023 to 2033) | 7.3% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value (USD billion) |
| Key Region Covered | North America |
| Key Country Covered | The USA |
| Key Segments Covered | Service Type, Delivery Method, Catering Type, End User |
| Key Companies Profiled | McDonald’s Corporation; Subway IP Inc.; Restaurant Brands International, Inc.; Starbucks Corporation; Papa John's International, Inc.; Dunkin Brands Group Inc.; Krispy Kreme Doughnuts, Inc.; Little Caesar Enterprises Inc.; Yum! Brands Inc.; CKE Restaurants Holdings, Inc.; Focus Brands Inc.; Brinker International; Hard Rock Cafe Inc.; Dairy Queen, Inc.; The Wendys Co. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Section 1: USA Restaurant and Food Service Industry
Section 2: USA Catering Service Industry
The industry is valued at USD 985.5 billion in 2023.
McDonald's, Starbucks, and Subway are key industry players.
The key consumer of the USA Food Service Industry market is the household sector.
The industry is estimated to reach USD 1995.0 billion by 2033.
The USA Food Service Industry CAGR for 2033 is 7.3%.
1. Executive Summary 2. Market Overview 3. Market Dynamics Section 1 4. USA Restaurant & Food Service Industry Demand (in Value (USD Million) Analysis 2018 to 2023 and Forecast, 2023 to 2033 5. USA Restaurant & Food Service Industry Analysis 2018 to 2023 and Forecast 2023 to 2033, by Service Type 5.1. Full-service Restaurants (including casual dining, fine dining, family dining, etc.) 5.2. Street/Kiosk 5.3. Cafes and Bars 5.4. Self Service Restaurants 5.5. Fast Food Outlet 5.6. Delivery/Takeaway 5.7. Recreational Places 6. USA Restaurant & Food Service Industry Analysis 2018 to 2023 and Forecast 2023 to 2033, By Delivery Method 6.1. Dine-in 6.2. Delivery 6.2.1. Online 6.2.2. Drive Thru 6.3. Takeout 6.3.1. Online 6.3.2. Drive Thru 7. USA Restaurant & Food Service Industry Analysis 2018 to 2023 and Forecast 2023 to 2033, By Region 7.1. Northeast 7.2. Southeast Exc. Florida 7.3. Midwest 7.4. Florida 7.5. Rest of USA 8. Regional Restaurant & Food Service Market Share Analysis 9. Market Structure Analysis 10. Competition Analysis 10.1. USA Restaurant & Food Service Players 10.1.1. McDonald’s Corporation 10.1.2. Subway IP Inc. 10.1.3. Burger King Corporation 10.1.4. Starbucks Corporation 10.1.5. Papa John's International, Inc. 10.1.6. Baskin Robbins 10.1.7. Krispy Kreme Doughnuts, Inc. 10.1.8. Little Caesar Enterprises Inc. 10.1.9. Yum! Brands Inc. 10.1.10. CKE Restaurants Holdings, Inc. 10.1.11. Cinnabon 10.1.12. Brinker International 10.1.13. Hard Rock Cafe Inc. 10.1.14. Dairy Queen, Inc. 10.1.15. Wendy's Company 10.1.16. Tim Hortons Inc. 10.1.17. Darden Restaurants, Inc. 10.1.18. Boston Market 10.1.19. Five Guys 10.1.20. Jimmy John’s Sandwiches 10.1.21. Jersey Mike’s Subs 10.1.22. Burgerfi 10.1.23. Panera Bread 10.1.24. Chipotle Mexican Grill 10.1.25. Buffalo Wild Wings 10.1.26. Chick-fil-A Section 2 11. USA Catering Service Industry Demand (in Value (US$ Million) Analysis 2018 to 2023 and Forecast, 2023 to 2033 12. USA Catering Service Industry Analysis 2018 to 2023 and Forecast 2023 to 2033, by Catering 12.1. Outdoor Catering (Away-from-home) 12.2. Industrial Catering (Canteen, Cafeteria) 12.3. Club Catering (Turf Clubs, Polo Clubs, Golf Clubs, etc.) 12.4. Welfare Catering (NGO, Charity, etc.) 12.5. Leisure Linked Catering (Kiosk, Zoo, Park, Stadium, etc.) 12.6. Retail Store Catering 12.7. Transport Catering (Airline, Railway, Cruise, Surface) 13. USA Catering Service Industry Analysis 2018 to 2023 and Forecast 2023 to 2033, By End User 13.1. Corporate 13.2. Education 13.3. Healthcare 13.4. Defense & Offshore 13.5. Mining & EPC 13.6. Sports & Leisure 13.7. Event Management 13.8. Others (Retail, Manufacturing, Aviation, etc.) 14. USA Catering Service Industry Analysis 2018 to 2023 and Forecast 2023 to 2033, By Region 14.1. Northeast 14.2. Southeast Exc. Florida 14.3. Midwest 14.4. Florida 15. Regional Catering Service Market Share Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Ann Sather Catering 17.2. Aramark Corporation 17.3. Aria Catering 17.4. AVI Foodsystems, Inc. 17.5. Bartlett mitchell Ltd. 17.6. BLACK OLIVE CATERING 17.7. Blue Plate Catering 17.8. Compass Group plc 17.9. Delaware North Companies Inc. 17.10. DO & CO Aktiengesellschaft 17.11. Elior Group SA 17.12. Sodexo S.A 17.13. The Emirates Group 17.14. Habit Burger Grill 17.15. Jersey Mike’s Subs 17.16. ezCater, Inc. 18. Assumptions and Acronyms Used 19. Research Methodology
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