Key Takeaways
- In 2023, the U.S. restaurant industry generated total sales of $1.1 trillion, marking a 5.4% increase from 2022.
- Global bar and restaurant market size reached $3.5 trillion in 2023, projected to grow at a CAGR of 7.2% through 2030.
- Full-service restaurants in the U.S. accounted for 45% of industry sales in 2023, totaling $495 billion.
- 65% of U.S. adults dined out at least once per week in 2023.
- 42% of consumers prefer quick-service restaurants for lunch in 2023.
- Delivery orders accounted for 15% of restaurant sales in U.S. 2023.
- U.S. restaurant industry employs 15.9 million people in 2023.
- Bars and taverns employ 600,000 workers in U.S. 2023.
- Average restaurant employee wage $18.50/hour in 2023.
- 62% of restaurants raised prices due to labor costs in 2023.
- Supply chain disruptions affected 78% of operators 2023.
- Inflation drove 15% food cost increase 2023.
- U.S. restaurant sales projected to reach $1.5 trillion by 2028.
- Bar industry CAGR 6.8% to 2030 globally.
- Delivery market to grow 12% annually to $500 billion by 2027.
The global restaurant and bar industry saw strong growth and shifting consumer trends in 2023.
Challenges and Economic Impact
- 62% of restaurants raised prices due to labor costs in 2023.
- Supply chain disruptions affected 78% of operators 2023.
- Inflation drove 15% food cost increase 2023.
- 35% of independent restaurants reported losses 2023.
- Energy costs up 20% for bars 2023.
- Cyberattacks hit 12% of restaurants 2023.
- Regulatory compliance costs $50,000 avg per restaurant 2023.
- 48% cite labor shortages as top challenge 2023.
- Food waste averages 4-10% of purchases 2023.
- Insurance premiums rose 18% for hospitality 2023.
- 22% of bars faced licensing issues 2023.
- Traffic accidents from DUIs down 5% due to bar policies 2023.
- Health code violations in 15% of inspections 2023.
- Rising rents forced 10% closures 2023.
- Credit card fees 3.5% of sales avg 2023.
- Weather events impacted 8% of seasonal revenue 2023.
- Menu price sensitivity caused 20% sales drop for some 2023.
- Utility costs 8% of operating expenses 2023.
- Theft and shrinkage 2% of inventory 2023.
- Pandemic recovery debt $100 billion industry-wide 2023.
- 30% operators delay expansions due to economy 2023.
- Customer complaints up 12% on wait times 2023.
- Equipment breakdowns cost $5,000 avg per incident 2023.
- Franchise fees 6% of revenue for chains 2023.
Challenges and Economic Impact Interpretation
Consumer Behavior and Trends
- 65% of U.S. adults dined out at least once per week in 2023.
- 42% of consumers prefer quick-service restaurants for lunch in 2023.
- Delivery orders accounted for 15% of restaurant sales in U.S. 2023.
- 78% of millennials visit bars monthly in 2023.
- Plant-based menu items ordered by 30% of diners in 2023.
- Average check size in U.S. full-service restaurants $25 in 2023.
- 55% of consumers use mobile apps for restaurant orders 2023.
- Craft beer preferences rose to 62% among bar patrons 2023.
- 37% of diners seek sustainable sourcing info in 2023.
- Weekend brunch visits up 20% post-pandemic in 2023.
- 49% of Gen Z prefers bars with non-alcoholic options 2023.
- Loyalty program participation 68% among frequent diners 2023.
- Outdoor dining preferred by 72% in summer 2023.
- Alcohol-free drinks sales up 25% in bars 2023.
- 61% of consumers check online reviews before dining 2023.
- Family dining out frequency 2.3 times per month 2023.
- Health-conscious orders 40% of fast-casual sales 2023.
- Late-night bar visits 35% higher on Fridays 2023.
- 52% prefer contactless payments in restaurants 2023.
- Vegetarian options influence 45% of menu choices 2023.
- Happy hour attendance 58% weekly among adults 2023.
- Social media influences 67% of restaurant visits 2023.
- Average bar visit spend $35 per person 2023.
- 70% of diners value speed of service in QSR 2023.
- Experiential dining sought by 48% of consumers 2023.
- 41% avoid restaurants without diverse menus 2023.
- Coffee to-go 55% of morning purchases 2023.
Consumer Behavior and Trends Interpretation
Employment and Operations
- U.S. restaurant industry employs 15.9 million people in 2023.
- Bars and taverns employ 600,000 workers in U.S. 2023.
- Average restaurant employee wage $18.50/hour in 2023.
- 10.5 million restaurant jobs added since 2010.
- Turnover rate in restaurants 73% annually 2023.
- Front-of-house staff 55% of total employment 2023.
- Kitchen staff shortages affect 82% of operators 2023.
- Average full-service restaurant has 45 employees 2023.
- 65% of bars use part-time staff 2023.
- Training costs average $2,000 per new hire 2023.
- Servers earn $15.50/hour including tips 2023.
- Bartenders median wage $14.00/hour 2023.
- 40% of operators report labor cost increases 2023.
- Multi-unit operators employ 70% of workforce 2023.
- Female employees 52% in restaurants 2023.
- Hispanic workers 22% of industry employment 2023.
- Weekend staffing 20% higher than weekdays 2023.
- Automation reduces staff needs by 10% in QSR 2023.
- Benefits offered to 45% of hourly workers 2023.
- Overtime hours average 5 per week per employee 2023.
- Chefs and head cooks 400,000 employed 2023.
- Hosts/hostesses 250,000 jobs 2023.
- Dishwashers 500,000 employed 2023.
- Managers 1.2 million in industry 2023.
- Labor costs 30% of total expenses 2023.
- Shift scheduling software used by 60% 2023.
- Average restaurant operates 12 hours/day 2023.
- Food costs average 28% of sales 2023.
- 25% of restaurants closed temporarily due to staffing 2023.
Employment and Operations Interpretation
Future Projections and Innovations
- U.S. restaurant sales projected to reach $1.5 trillion by 2028.
- Bar industry CAGR 6.8% to 2030 globally.
- Delivery market to grow 12% annually to $500 billion by 2027.
- AI menu optimization adoption 40% by 2025.
- Ghost kitchens to represent 20% of sales by 2027.
- Sustainable packaging 80% standard by 2030.
- Contactless tech in 90% of restaurants by 2025.
- Plant-based sales to double to $20 billion by 2027.
- Robotics in kitchens 25% adoption by 2028.
- Global restaurant market $4.2 trillion by 2027.
- Non-alcoholic beverages 30% of bar sales by 2030.
- VR dining experiences in 10% of upscale by 2028.
- Labor force to stabilize with 5% growth to 2028.
- Off-premise sales 25% of total by 2027.
- Craft spirits market $25 billion by 2028.
- Personalization via apps 70% consumer expectation 2027.
- Energy-efficient tech saves 15% costs by 2025.
- Multi-concept venues 35% growth by 2030.
- Blockchain for supply chain 50% by 2028.
- Experiential bars 40% market share growth 2027.
- U.S. sales CAGR 4.5% to $1.6 trillion 2030.
- Voice ordering 20% of transactions by 2027.
- Zero-waste kitchens 60% by 2030.
- AR menus in 30% of casual dining 2028.
- Franchise growth 7% annually to 2028.
- Health tech integrations 50% by 2027.
Future Projections and Innovations Interpretation
Market Size and Revenue
- In 2023, the U.S. restaurant industry generated total sales of $1.1 trillion, marking a 5.4% increase from 2022.
- Global bar and restaurant market size reached $3.5 trillion in 2023, projected to grow at a CAGR of 7.2% through 2030.
- Full-service restaurants in the U.S. accounted for 45% of industry sales in 2023, totaling $495 billion.
- Quick-service restaurants generated $428 billion in sales in 2023, representing 39% of total U.S. restaurant revenue.
- Bar and tavern segment sales in the U.S. hit $42 billion in 2023, up 8% year-over-year.
- Independent restaurants contributed 52% of U.S. restaurant sales in 2023, amounting to $572 billion.
- Alcohol sales in U.S. restaurants and bars reached $37 billion on-premise in 2023.
- Fine dining segment revenue grew 12% to $120 billion globally in 2023.
- U.S. limited-service eating places industry revenue was $413.2 billion in 2023.
- Casual dining chains saw $250 billion in U.S. sales for 2023.
- Bar revenue from craft cocktails increased 15% to $8.5 billion in U.S. in 2023.
- Total U.S. foodservice sales including bars reached $1.4 trillion in 2023.
- European restaurant market valued at €550 billion in 2023.
- U.S. drinkery and bar industry revenue $48.7 billion in 2023.
- Fast-casual segment sales hit $32 billion in U.S. 2023.
- Global nightlife and bar market $1.2 trillion in 2023.
- U.S. restaurant industry off-premise sales $300 billion in 2023.
- Chain restaurants 48% of sales, $528 billion U.S. 2023.
- Beer sales in U.S. bars $22 billion in 2023.
- Wine by the glass sales $12 billion in U.S. restaurants 2023.
- U.S. pizzeria sales $46 billion in 2023.
- Steakhouse revenue $28 billion U.S. 2023.
- Seafood restaurant sales $18 billion U.S. 2023.
- Asian cuisine restaurants $150 billion U.S. sales 2023.
- Mexican restaurants $60 billion sales U.S. 2023.
- U.S. bar food sales $15 billion in 2023.
- Global fast food market $800 billion 2023.
- U.S. coffee shop sales $48 billion 2023.
- Pub revenue U.K. £25 billion 2023.
- U.S. buffet restaurants $10 billion 2023.
Market Size and Revenue Interpretation
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