Restaurant and Foodservice Revenues to Total $990B in 2021
Ohio Ag Connection - 11/13/2017
U.S. restaurant and foodservice revenues are forecast to total $990 billion in 2021, according to Restaurants & Foodservice: United States, a report recently released by Freedonia Focus Reports, Cleveland. Increases in the population and disposable personal income will drive overall gains in restaurant and foodservice revenues. Consumers are expected to dine out more often and purchase higher-priced offerings as their incomes rise.
Revenues from fast casual restaurants, the fastest growing service segment, will see gains as millennials obtain higher incomes, supporting sales of higher-priced menu options. Additionally, new restaurant concepts will further drive sales among this key demographic.
These and other key insights are featured in Restaurants & Foodservice: United States. This report forecasts US restaurant and foodservice revenues in nominal US dollars to 2021.
To illustrate historical trends, total revenues and the various segments are provided in annual series from 2006 to 2016.