Growing trend of digitalization of food service and increasing purchasing power to drive the United States foodservice market during the forecast period.
According to TechSci Research report, “United States Foodservice Market By Type QSR (Quick Service Restaurants), Dining Service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others (Cafeteria, Ghost Kitchens, Catering and Vending Companies)), By Ownership (Chained Outlets vs. Independent Outlets), By Region, Competition, Forecast & Opportunities, 2026”, the United States foodservice market had grown to approximately USD520 billion in the year 2020 and it is further anticipated to grow with the CAGR of 4.10% by 2026F. United States foodservice industry is said to be the largest foodservice industry at the global level, which includes all those businesses that deal in the meals which are prepared outside the home. United States foodservice industry contributes to approximately 10% of total employment within the United States. In the year 2019, the people working in this foodservice sector were counted to be around 2 million within California state alone, with the largest share of waiters and waitresses in terms of employment. It has also been analyzed that the market of foodservice has retained the market growth despite many challenges, due to the driving factors like takeout, delivery, and food trucks.
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The COVID-19 pandemic has impacted the foodservice business. Fast food businesses were forced to close momentarily due to the lockout of several eateries. People working in the foodservice industry experienced challenges due to mismanagement of operations, supply chains, business model recreation, digitization, and other unforeseen consequences. It was due to pandemic as well as the pressure of rising labor costs and high rate of turnover, most of the service providers are now opting for new technology (such as mobile ordering, delivery apps, and self-ordering kiosks) to meet the customer demand. Companies like Dunkin’ Brands Group, Inc., through its Dunkin’ Donuts brand last year in August, announced a USD100 million investment to strengthen its capacity to provide service to consumers who order from mobile devices. The firm aimed to establish 50 pilot locations as a part of the initiative, that would have dedicated pickup areas, digital kiosks, and enlarged drive-thru windows that prioritize orders placed through the company’s mobile app.
The United States Foodservice market consists of the following segments, type, ownership, region, and company. In terms of Type, the United States foodservice market is segmented into QSR (Quick Service Restaurants), dining service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafe, and Lounges), and others (Cafeteria, Ghost Kitchens, Catering and Vending Companies). Among which, it is the QSR segment that holds the prominent share of around 35% in the United States foodservice market followed by dining service (hotels, restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and others which includes cafeteria, ghost kitchens, catering and vending companies. Quick service restaurants segment is also the only segment that records the largest number of outlets within the United States market owing to the consumption pattern in the United States, which is highly dependent upon the instant service restaurants.
In terms of region, the United States foodservice market is segmented into south, west, mid-west, and north-east. Among these, the west region of the United States is the fastest growing within the United States foodservice market, with a CAGR of around 4.40% and is expected to maintain its dominance throughout the forecast period.
Major Companies operating in the United States foodservice market are Performance Food Group Company, Compass Group USA, Inc., McDonald’s USA, LLC, Aramark Corporation, Sodexo, Inc., YUM! BRANDS, INC. (KFC, Pizza Hut, Taco Bell), Starbucks Corporation, Restaurant Brands International Inc., Domino’s Pizza, Inc., and HMSHOST CORP. (USA). To remain competitive in the United States foodservice market companies are continuously launching new services and changing marketing strategies to capture the majority of the consumer base across the country.
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“The rising demand for online food ordering channels is contributing to the growth of the foodservice market. The foodservice market is highly fragmented due to the presence of various giant players and local players such as McDonald’s Corporation, YUM! BRANDS, INC. (KFC, Pizza Hut, Taco Bell), Starbucks Corporation, Domino’s Pizza, Inc., and other companies. The market experts must be updated with the changing consumer taste & preferences and satisfy their needs and due to factors the foodservice providers may have to face difficulty in staying on top in the market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Foodservice Market By Type QSR (Quick Service Restaurants), Dining Service (Hotels, Restaurants), PBCL (Pubs, Bars, Cafe and Lounges), and Others (Cafeteria, Ghost Kitchens, Catering and Vending Companies)), By Ownership (Chained Outlets vs. Independent Outlets), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of foodservice market in the United States and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the United States foodservice market.
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