Restaurants Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 9/18/2017
SIC Codes: 5812
NAICS Codes: 7225
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Restaurants Industry Profile

Companies in this industry operate restaurants and other eating places, including full-service restaurants (FSRs), quick-service restaurants (QSRs), cafeterias and buffets, and snack bars. Major companies include Bloomin' Brands, Darden Restaurants, McDonald’s, Starbucks, and YUM! Brands (all based in the US), as well as Greggs (the UK), Jollibee Foods (the Philippines), Skylark (Japan), and Restaurant Brands International (Canada).

The global food service industry, which includes restaurants as well as catering services, generates about $2.7 trillion in annual revenue, according to Euromonitor. Cross-border franchising of restaurants has helped boost growth in recent years. The largest restaurant markets are Asia/Pacific, North America, and Western Europe. Latin America and the Middle East/Africa region are the industry’s fastest-growing markets.

The US restaurant industry includes about 620,000 restaurants with combined annual revenue of about $550 billion.

COMPETITIVE LANDSCAPE

Restaurants are adopting new technologies and services to compete for consumers who increasingly value convenience. Mobile payments, online ordering, and home delivery are becoming more commonplace in both the full-service and limited-service segments of the industry. Pricing is also becoming a more important issue as customers are able to choose from a growing variety of dining options, including pre-packaged meals from outlets such as grocery stores, convenience stores, and coffee shops. Emerging competitors such as providers of subscription meal kits could further disrupt the industry in the future.

Factors that can influence global competition in the restaurant industry include ...

 
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