The United
States foodservice market was valued around USD521 billion in 2020 and is
projected to grow at a CAGR of 4.10% in the coming years to reach around USD660
billion by the end of 2026. The constant change in consumer tastes,
increasing innovation in existing services, rapid urbanization, attractive
packaging of the food offered, hectic lifestyle, changing routine, and
availability of different flavors are some of the trends that are expected to
drive the market's growth through 2026.
The
foodservice sector is currently focused on the study and production of
functional and sustainable food items, rather than only tastes. Some of the
major expectations by the customers include preference for organic and specific
diets, more nutritious snacks within their meals, and the offered product must
be “real” and fresh (not processed). These alternatives simply acknowledge the
existence of what is feasible in terms of providing quick, convenient, and
appealing options to meet rising customer demand.
The
United States foodservice market is segmented into type, ownership, region, and
company. In terms of ownership, the United States foodservice market is
segmented into chained outlets and independent outlets. Among them, the chained
outlet has dominated the United States foodservice market with a market share
of around 58% in the year 2020 as most of the chained outlets are operating in
the form of the quick-service restaurants and it is the quick-service
restaurant that holds the largest portion of the market.
In
terms of region, the United States foodservice market is categorized into
South, West, North-East, and Mid-West. Within the United States, the South region
captures the largest market share due to increased population and large number
of restaurants and cafes found
in this region. In the year 2019, the number of jobs in restaurant and
foodservice sector in the United States reached approximately two million in
California alone. Waiters and waitresses accounted for the biggest share of
employment in the US foodservice industry as of 2019, while private cooks
accounted for the smallest share. Also, the South region is expected capture almost
32% of the total market share in the United States foodservice market in the estimated
year 2026, followed by the Mid-West region.
In
the year 2020, United States held the largest market share in foodservice
industry and is expected to maintain its dominance in the foodservice market in
the forecast year considering GDP (Gross Domestic Products) and the food
consumption pattern. One of the major factors responsible for the growth of
foodservice industry is immigration which has resulted in the fusion of cuisine
in the American culture. The large varieties of food offered in the American
restaurants is anticipated to boost the United States foodservice market.
Foodservice
market has become an attractive destination for investment. Hence, several
large multinational companies are entering into this market. Some of the major companies
operating in the 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). The United
States foodservice market is highly fragmented due to the presence of many
local and international players.
Years
considered for this report:
·
Historical
Years: 2016-2019
·
Base
Year: 2020
·
Estimated
Year: 2021E
·
Forecast
Period: 2022F–2026F
Objective of the Study:
- To analyze the historical growth in the market
size of United States foodservice market from 2016 to 2020.
- To estimate and forecast the market size of United
States foodservice market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast United States foodservice
market based on type,
ownership, region, and company.
- To identify dominant region or segment in the United
States foodservice market.
- To identify drivers and challenges for United
States foodservice market.
- To examine competitive developments such as
expansions, new services launch, mergers & acquisitions, etc., in the United
States foodservice market.
- To identify and analyze the profile of leading
players operating in United States foodservice market.
- To identify key sustainable strategies adopted
by market players in the United States foodservice market.

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TechSci
Research performed both primary as well as exhaustive secondary research for
this study. Initially, TechSci Research sourced a list of foodservice providers
across the country. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
could include the foodservice providers which could not be identified due to
the limitations of secondary research. TechSci Research analyzed the service
providers and presence of all major players across the country.
TechSci
Research calculated the market size of the United States foodservice market
using a bottom-up approach, wherein data for the various segment was recorded
and forecast for the future years. TechSci Research sourced these values from
the industry experts and company representatives and externally validated them
through analyzing historical data of these services for getting an appropriate,
overall market size. Various secondary sources such as company websites, news
articles, press releases, company annual reports, investor presentations, and
financial reports were also studied by TechSci Research.
Key
Target Audience:
- Manufacturers, and distributors
- Market research and consulting
firms
- Government bodies such as
regulating authorities and policymakers.
- Organizations, forums, and
alliances related to foodservice market.
The
study is useful in providing answers to several critical questions that are
important for the industry stakeholders such as foodservice providers, distributors,
etc., besides allowing them in strategizing investments and capitalizing on
market opportunities.
Report Scope:
In this report, United States
foodservice market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
·
United States Foodservice Market, By Type:
o QSR (Quick
Service Restaurants)
o Dining Service
(Hotels, Restaurants)
o PBCL (Pubs,
Bars, Cafe and Lounges)
- Others (Cafeteria, Ghost Kitchens, Catering
and Vending Companies)
·
United States Foodservice Market, By
Ownership:
- Chained
Outlets
- Independent
Outlets
·
United States Foodservice Market, By
Region:
- South
- Mid-West
- West
- North-East
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in United States foodservice market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following customization
options are available for the report:
Company Information
Detailed analysis and
profiling of additional market players (up to five).
In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]