As glasses clink and kitchens hum across the globe, a staggering $1.0 trillion flowed through U.S. restaurants in 2023 alone, signaling a powerful resurgence for an industry that continues to shape economies, cultures, and how we connect.
Key Takeaways
- In 2023, the U.S. restaurant industry generated total sales of $1.0 trillion, marking a 5.4% increase from 2022
- Globally, the foodservice market was valued at $3.5 trillion in 2023 and is projected to grow to $5.3 trillion by 2030 at a CAGR of 6.2%
- The bar and tavern segment in the U.S. saw sales of $42 billion in 2023, up 7.1% year-over-year
- Average U.S. restaurant sales reached $1.2 million per unit in 2023, up 6% from 2022
- Food costs for U.S. restaurants averaged 30.5% of sales in 2023, highest in five years
- U.S. bar alcohol sales per outlet averaged $450,000 annually in 2023
- U.S. restaurant industry employed 15.9 million people in 2023, representing 9.6% of private sector jobs
- U.S. bars and drinking places employed 430,000 workers in 2023, up 4.2% YoY
- Restaurants added 200,000 net new jobs in the U.S. in 2023, reaching pre-pandemic levels
- 68% of U.S. consumers visited a restaurant at least once a week in 2023
- 55% of U.S. diners used mobile apps for ordering in 2023, up 20% from 2022
- Alcohol consumption at bars declined 3% among millennials in 2023, favoring mocktails
- Average U.S. full-service restaurant table turnover 2.8 times/night 2023
- Kitchen ticket times averaged 12.5 minutes in U.S. QSR 2023
- U.S. bar inventory waste averaged 2.5% of stock value monthly 2023
The bar and restaurant industry saw strong global sales growth in 2023 despite facing significant operational challenges.
Consumer Trends and Behavior
- 68% of U.S. consumers visited a restaurant at least once a week in 2023
- 55% of U.S. diners used mobile apps for ordering in 2023, up 20% from 2022
- Alcohol consumption at bars declined 3% among millennials in 2023, favoring mocktails
- 42% of U.S. consumers prioritized sustainability in restaurant choices 2023
- Delivery orders surged 12% YoY to 25 billion in U.S. 2023
- Plant-based menu items ordered 28% more in U.S. restaurants 2023
- 76% of Gen Z dined out for social media content in 2023
- Average U.S. diner frequency 4.5 times/month in 2023, up from 4.1
- 61% of consumers tipped via app/digital in 2023 U.S. bars/restaurants
- Craft cocktail orders up 18% in U.S. bars 2023
- 35% of U.S. meals consumed away from home in 2023, highest ever
- Low/no-alcohol beverages sales +25% in U.S. restaurants 2023
- 49% of diners sought local/seasonal ingredients in 2023 U.S.
- U.K. consumers dined out 2.8 times/week avg in 2023
- 72% of U.S. parents took kids to casual restaurants weekly 2023
- Experiential dining (themed) visited by 38% of millennials 2023
- 54% reduced spending due to inflation but prioritized dining 2023 U.S.
- Wine by the glass outsold bottles 3:1 in U.S. bars 2023
- 67% used loyalty apps for discounts in 2023 U.S. restaurants
- Solo dining up 22% post-pandemic in U.S. 2023
- 44% preferred outdoor seating in 2023 U.S. surveys
- Spicy food orders +15% in U.S. 2023
- 51% of boomers dined early bird specials 2023
- Contactless payment used 88% of transactions U.S. restaurants 2023
- Global avg restaurant visit spend $25/person in 2023
- U.S. brunch visits +10% YoY in 2023
- 39% chose restaurants based on reviews/apps 2023 U.S.
Consumer Trends and Behavior Interpretation
The American appetite for dining out remains voracious, but the modern feast is a complex blend of seeking convenience via apps, curating social media moments, and making conscientious choices—from plant-based plates and mocktails to sustainable sourcing—all while navigating inflation with strategic loyalty discounts and a stubborn refusal to sacrifice the communal table.
Employment and Workforce
- U.S. restaurant industry employed 15.9 million people in 2023, representing 9.6% of private sector jobs
- U.S. bars and drinking places employed 430,000 workers in 2023, up 4.2% YoY
- Restaurants added 200,000 net new jobs in the U.S. in 2023, reaching pre-pandemic levels
- Women comprised 52% of U.S. restaurant workforce in 2023, but only 25% of ownership
- Average U.S. restaurant hourly wage rose to $17.50 in 2023, up 6.5% from 2022
- Turnover rate for U.S. restaurant frontline staff was 73% in 2023, down from 130% peak
- U.S. full-service restaurants employed 5.2 million in 2023, 33% of industry total
- 1 in 3 U.S. adults worked in restaurants at some point in their career by 2023
- Bartenders in U.S. averaged $14.50/hour plus tips, total $35,000 annual in 2023
- U.S. restaurant managers numbered 550,000 in 2023, with 12% vacancy rate
- Immigrants made up 22% of U.S. restaurant workforce in 2023
- Part-time workers were 65% of U.S. restaurant employees in 2023
- Chefs and head cooks employment grew 2.5% to 240,000 in U.S. 2023
- U.K. hospitality sector employed 3.7 million in 2023, 10% of workforce
- U.S. quick-service jobs totaled 4.8 million in 2023
- Servers/waitstaff turnover hit 80% in U.S. fine dining 2023
- Global restaurant industry employs 200 million people as of 2023
- U.S. restaurant job openings averaged 1 million per month in 2023
- Cooks employment in U.S. restaurants 1.8 million in 2023, 5% growth
- 45% of U.S. restaurant workers under 30 in 2023
- Barbacks and bussers jobs grew 7% to 150,000 in U.S. 2023
- Australia hospitality employed 900,000 in 2023
- U.S. dishwashers and kitchen helpers 450,000 employed in 2023
- Training hours per new hire averaged 40 in U.S. restaurants 2023
- Canada restaurants employed 1.3 million in 2023, 6% of jobs
- U.S. sommeliers and mixologists jobs up 15% to 25,000 in 2023
- Host/hostess positions had 18% vacancy in U.S. 2023
- 62% of U.S. Gen Z entered workforce via restaurants in 2023
- U.S. 65% of restaurant employees receive health benefits in 2023, up from 50%
Employment and Workforce Interpretation
The restaurant industry, which serves as the nation's largest revolving door for launching careers, now spins with a bit less chaotic energy, as it finally reaches pre-pandemic staffing levels but still struggles to keep its seasoned professionals or elevate its majority-female workforce into ownership roles.
Market Size and Growth
- In 2023, the U.S. restaurant industry generated total sales of $1.0 trillion, marking a 5.4% increase from 2022
- Globally, the foodservice market was valued at $3.5 trillion in 2023 and is projected to grow to $5.3 trillion by 2030 at a CAGR of 6.2%
- The bar and tavern segment in the U.S. saw sales of $42 billion in 2023, up 7.1% year-over-year
- U.S. full-service restaurants accounted for 45% of total industry sales in 2023, totaling approximately $450 billion
- The Asia-Pacific region dominated the global restaurant market with a 38% share in 2023, valued at over $1.3 trillion
- U.S. limited-service restaurants grew by 8.2% in sales to $570 billion in 2023, driven by quick-service chains
- The craft beer bar segment expanded by 12% in the U.S. from 2022 to 2023, contributing $15 billion to bar revenues
- Global bar industry revenue reached $1.2 trillion in 2023, with a projected CAGR of 5.8% through 2028
- In Europe, the restaurant sector grew 6.5% in 2023 to €600 billion, led by casual dining
- U.S. restaurant industry sales per capita reached $2,959 in 2023, up from $2,800 in 2022
- The fast-casual segment in the U.S. hit $38.4 billion in sales in 2023, growing 10.5%
- Latin America restaurant market valued at $450 billion in 2023, expected to grow at 7.2% CAGR to 2030
- U.S. bars and nightclubs generated $28 billion in 2023, recovering 85% from pre-pandemic levels
- Independent restaurants in the U.S. represented 72% of total outlets but only 45% of sales at $450 billion in 2023
- Middle East & Africa foodservice market grew to $250 billion in 2023 at 5.9% YoY
- U.S. drinking places (bars) sales increased 9.3% to $40.2 billion in 2023
- Global fine dining market size was $120 billion in 2023, projected to $180 billion by 2030
- Canada restaurant industry sales hit CAD 120 billion in 2023, up 6.8%
- U.S. casual dining sales recovered to $290 billion in 2023, 92% of 2019 levels
- Australia bar and restaurant sector valued at AUD 50 billion in 2023, growing 4.5%
- U.S. restaurant industry expected to add $110 billion in sales in 2024, reaching $1.1 trillion
- Cloud kitchen market, impacting restaurants, reached $70 billion globally in 2023, CAGR 11.5%
- U.K. eating out market grew 7.2% to £100 billion in 2023
- India restaurant industry valued at $65 billion in 2023, projected 10% CAGR to 2028
- U.S. sports bar segment sales at $12 billion in 2023, up 8%
- Global wine bar market size $25 billion in 2023, growing 6.8%
- Brazil foodservice market $90 billion in 2023, 5.5% growth
- U.S. ghost kitchens contributed $5 billion to delivery sales in 2023
- China restaurant market $800 billion in 2023, largest globally
- U.S. restaurant sales growth forecasted at 4% for 2024, adding 200,000 jobs
Market Size and Growth Interpretation
The world is drinking and dining its way to a staggering economic recovery, with America's bars and restaurants leading a global charge that proves our appetite for experience is as resilient as it is expensive.
Operational Metrics
- Average U.S. full-service restaurant table turnover 2.8 times/night 2023
- Kitchen ticket times averaged 12.5 minutes in U.S. QSR 2023
- U.S. bar inventory waste averaged 2.5% of stock value monthly 2023
- Seat turnover rate in U.S. casual dining 2.2/hour peak 2023
- Average U.S. restaurant POS system uptime 99.2% in 2023
- Food waste in U.S. restaurants 4-10% of purchases, 22 million tons annually 2023
- U.S. full-service labor productivity $85/sales per labor hour 2023
- Drive-thru avg service time 3:45 min U.S. QSR 2023
- U.S. bar prime cost (labor+food) averaged 62% of sales 2023
- Reservation no-show rate 15% avg U.S. restaurants 2023
- U.S. restaurant energy costs $3,000/unit/month avg 2023
- Table utilization 75% peak hours U.S. casual 2023
- Inventory turnover 12 times/year avg U.S. restaurants 2023
- U.K. pub avg covers/day 250 in 2023
- U.S. fine dining avg covers/night 120 per 100 seats 2023
- Delivery fulfillment time avg 32 min U.S. 2023
- U.S. bar pour accuracy 92% with tech in 2023
- Kitchen labor scheduling efficiency 88% U.S. 2023
- Avg U.S. restaurant utility costs 4.5% of sales 2023
- Peak hour revenue 55% of daily U.S. casual restaurants 2023
- U.S. QSR avg transactions/hour 150 peak 2023
- Spoilage rate 1.8% avg U.S. bars produce 2023
- U.S. restaurant avg check processing time 45 sec digital 2023
- Banquet event setup time avg 2 hours U.S. 2023
- U.S. sports bar TV screens avg 25 per venue 2023
- Online order abandonment rate 65% U.S. restaurants 2023
- U.S. full-service avg party size 2.7 persons 2023
- Bar happy hour sales boost 30% avg U.S. 2023
- U.S. restaurant cybersecurity incidents up 22% in 2023, affecting 15% of ops
- Avg U.S. casual dining occupancy 68% 2023
Operational Metrics Interpretation
The modern restaurant is a high-stakes ballet where the kitchen's 12.5-minute sprint, the bar's 92% precise pour, and the front-of-house's 2.8 table turns per night all dance on the knife's edge of a 62% prime cost, constantly threatened by a 15% no-show rate, 4-10% food waste, and the silent chaos of a 65% online cart abandonment.
Operations and Challenges
- 27% of U.S. restaurants closed permanently due to pandemic by end-2023
- Supply chain disruptions affected 78% of U.S. restaurants in 2023
- Labor shortages led to 45% of U.S. restaurants reducing hours in 2023
- Inflation drove 62% menu price hikes avg 5.2% U.S. 2023
- 35% of U.S. bars reported theft losses over $10k in 2023
- Tech adoption: 52% U.S. restaurants used AI scheduling 2023
- Energy costs rose 15% for U.S. restaurants in 2023
- 41% faced insurance premium increases >20% U.S. 2023
- Regulatory compliance costs avg $25k/year U.S. restaurant 2023
- 29% U.S. independents at risk of closure due to debt 2023
- Food allergen incidents up 12% U.S. restaurants 2023
- 67% struggled with delivery platform fees 15-30% commissions 2023 U.S.
- Cyberattack recovery cost avg $250k U.S. hospitality 2023
- 38% reported vendor shortages key ingredients 2023 U.S.
- Wage pressure: min wage hikes in 25 states 2023 U.S.
- 22% cut menu items due to costs 2023 U.S. restaurants
- Sustainability mandates challenged 48% ops Europe 2023
- U.S. restaurant bankruptcy filings up 18% in 2023
- Health code violations avg 2.3/site U.S. inspections 2023
- 55% faced rising natural gas prices impacting cooking 2023 U.S.
- Franchise compliance issues 14% higher 2023 U.S.
- 31% reported HVAC breakdowns costing $15k avg 2023 U.S.
- POS system failures disrupted 28% sales days 2023 U.S.
- 46% challenged by multi-generational workforce training 2023
- Waste management costs up 11% U.S. restaurants 2023
- 19% experienced major equipment failure 2023 U.S., avg repair $8k
- ADA compliance upgrades needed by 37% U.S. venues 2023
Operations and Challenges Interpretation
It's a statistical marvel that a U.S. restaurant can still set a table when it's simultaneously being buffeted by a hurricane of closures, costs, and compliance, all while trying to teach five generations how to use the new AI scheduler that just crashed.
Revenue and Sales
- Average U.S. restaurant sales reached $1.2 million per unit in 2023, up 6% from 2022
- Food costs for U.S. restaurants averaged 30.5% of sales in 2023, highest in five years
- U.S. bar alcohol sales per outlet averaged $450,000 annually in 2023
- Delivery sales accounted for 15% of total restaurant revenue in the U.S. in 2023, equating to $150 billion
- Profit margins for full-service U.S. restaurants averaged 4.2% in 2023, down from 6% pre-pandemic
- Off-premise sales (takeout/delivery) generated $280 billion for U.S. restaurants in 2023, 28% of total
- Average check size in U.S. casual dining rose 7.5% to $22.50 in 2023
- Beverage revenue contributed 25% to full-service restaurant sales in 2023, averaging $300,000 per unit
- U.S. independent restaurants saw average revenue growth of 5.8% in 2023 to $950,000 per location
- Labor costs consumed 32.4% of U.S. restaurant sales in 2023, up 2 points from 2021
- Quick-service restaurants in U.S. had average annual sales of $2.8 million per unit in 2023
- U.S. bar profit margins averaged 8.5% in 2023, driven by high-margin cocktails
- Catering sales for U.S. restaurants reached $40 billion in 2023, 10% growth
- U.S. restaurant same-store sales growth was 3.2% in 2023, per Black Box Intelligence
- Food-away-from-home expenditures hit $1.1 trillion in U.S. 2023, 53% of food spending
- Average U.S. fine dining check $85 per person in 2023, up 9%
- U.K. restaurants saw 6.1% sales growth in 2023, average £1.2 million per site
- U.S. chain restaurants average sales $3.5 million per unit in 2023
- Pour cost for U.S. bars averaged 20.1% of beverage sales in 2023
- Online ordering direct from restaurants captured 12% of U.S. digital sales in 2023, $50 billion
- U.S. sports bar average revenue $1.8 million in 2023, up 11%
- Global restaurant average profit margin 5-7% in 2023, varying by region
- U.S. pizzeria sales $46 billion in 2023, average $1.1 million per store
- Banquet/event revenue for U.S. restaurants $25 billion in 2023
- U.S. fast-casual average sales $2.2 million per unit in 2023
- Loyalty program revenue boost averaged 15% for U.S. restaurants in 2023
Revenue and Sales Interpretation
The restaurant industry ran a precarious, high-volume sprint in 2023, where record sales were chased by soaring costs, leaving owners to find their slim profits somewhere between a stiff drink, a delivered pizza, and a carefully tracked loyalty point.
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