US The Future of Foodservice Market Report 2020
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Providing the most comprehensive and up-to-date information and analysis of U.S Future of Foodservice: 2021 market including the behaviors, preferences and habits of the consumer.
Many Americans traded from restaurants to retailers for their food and beverage needs during the COVID-19 crisis; as the consequent recession continues, retailers remain a fierce competitor and barrier to restaurants’ recovery in 2021. Limited-service restaurants will recover much faster than their full-service counterparts due to their affordability and off-premise convenience. Restaurants of all types must find new and exciting ways to engage consumers at home and improve their value perceptions in 2021 in order to survive the rocky road to recovery.
Read on to discover more details or take a look at all of our U.S Food and U.S Drinks market research.
Definitions used: Quick service restaurants – Used interchangeably with “fast food,” QSRs specialize in inexpensive, convenient meals with no waiter service, no alcoholic beverages and a low price point. Examples include: McDonald’s, KFC, Taco Bell, Wendy’s and Pizza Hut.
Fast casual restaurants – These establishments are characterized by a higher price point than QSRs, though not as high as full-service restaurants. Fast casuals do not offer waiter service and may or may not serve alcohol. Examples include: Chipotle Mexican Grill, Panera Bread, Shake Shack and Blaze Pizza.
Limited-service restaurants – LSRs provide food services and customers usually select and order items and pay before dining. Food/drink may be consumed on the premises, offered as carryout or delivered to the customer’s location. These may also sell alcoholic beverages. LSRs include both QSRs and fast casual restaurants. The other category within LSRs (as seen in the Market Size and Forecast) includes snacks and non-alcoholic beverage bars, cafeterias, grills and grill buffets.
Full-service restaurants – FSRs have waiter/waitress service and customers order and are served while seated. These may also sell alcoholic beverages and offer carryout services. They include the restaurant segments: family midscale, casual dining and fine dining.
Written by Jill Failla, a leading analyst in the Foodservice sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The US foodservice industry saw unprecedented challenges in 2020 due to the pandemic and recession. These challenges will continue to plague restaurants in 2021, especially full-service ones, delaying a full sales recovery until 2023. To survive the ongoing crisis, restaurants must become off-premise business experts, engaging consumers in new and exciting ways at home, all while making value a priority.
Jill Failla
Senior Foodservice Analyst
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