United States (US) Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

United States (US) Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Summary

“United States (US) Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the US Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.

The US recorded annual nominal GDP per capita growth of 8.7% in 2022, fueled by the strong growth in private inventory investment, consumer spending, non-residential fixed investment, and government spending. The unemployment rate stood at 3.7% in 2022. The male labor force participation rate was 79.1%, whereas the female labor force participation rate was 69%. The US profit sector’s total revenue reached $1,087.1 billion in 2022, showing gradual growth with a compound annual growth rate (CAGR) of only 4% from 2017-22. The economic slowdown during 2021 and 2022, together with high inflation, impacted foodservice sales.

The report includes -

• Overview of the US's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the US foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, coffee & tea shop, and pub, club & bar) within the US foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the US population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

• The US profit sector’s total revenue reached $1,087.1 billion in 2022, showing gradual growth with a compound annual growth rate (CAGR) of only 4% from 2017-22. The economic slowdown during 2021 and 2022, together with high inflation, impacted foodservice sales.
• QSR was the largest channel in the US foodservice profit sector in 2022. Doorstep deliveries and takeout services helped operators and contributed to the value sales growth.
• Consumers visiting QSRs are influenced by the impact of menu items on their health and wellbeing, forcing QSR operators to prioritize on incorporating healthy items in their menus while also focusing on providing pocket-friendly offerings.
• Italian cuisine is the most popular, followed by steakhouse & grill, and Japanese. Consumers’ desire to experiment with different cuisines urges operators to design varied menus.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022-27) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar) will allow readers understand the wants and needs of their target demographics.