The full service restaurants global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Full Service Restaurants Market, 2024The full service restaurants global market report 2024
Market Size – The full service restaurants market size has grown strongly in recent years. It will grow from $1,441.25 billion in 2023 to $1,514.23 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to expansion of delivery and takeout services, the rise of international food chains and franchises, the growing food and beverage industry, the rising outdoor food services, and the growing demand for ready-to-eat foods.
The full service restaurants market size is expected to see strong growth in the next few years. It will grow to $1,868.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing online food ordering, increasing popularity of organic food, increasing number of tourists, increasing demand for convenience foods, and increasing cardiovascular heart diseases. Major trends in the forecast period include development of well-established online platforms, implementing digital inventory tracking systems, technologically advanced equipment in quick-service restaurants, new innovative dining concepts, and the developing new software handling operations.
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Scope Of Full Service Restaurants MarketThe Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Full Service Restaurants Market Overview
Market Drivers -The demand for convenience foods is driving the full-service restaurant market. Convenience foods, which are pre-packaged or pre-prepared for quick consumption, cater to busy lifestyles and the desire for simple meal solutions. Full-service restaurants capitalize on this trend by offering ready-to-eat meals for dining in, takeout, or delivery. In 2023, the US Department of Agriculture reported an increase in the total value of US processed food exports to $36.59 billion, a 1.7% rise compared to previous years. This growth will continue to influence the full-service restaurant market in 2024 and into 2028 as consumer preferences evolve.
Market Trends – Major companies operating in the full-service restaurants market are focusing on adopting advanced solutions in the restaurant such as, automated ordering systems to enhance operational efficiency in the restaurant industry. Automated ordering systems streamline ordering by allowing customers to place and make payments directly, reducing wait times and improving order accuracy. For instance, in April 2024, Fiserv, a US-based financial technology company, introduced Clover Kiosk and Clover Kitchen Display System, a self-service kiosk technology for restaurants. This innovative solution features intuitive touchscreens, integrated payment systems, and real-time order tracking. The Clover Kiosk streamlines the ordering process for restaurant customers with its 24-inch touch screen and 8-inch payment terminal. Customers can browse menus, customize orders, and complete transactions without waiting in line. The Clover Kitchen Display System (KDS) is complementing the kiosk, which enhances communication between front-of-house and back-of-house operations. The KDS displays orders in real-time, enabling kitchen staff to view orders, track their status, and prioritize tasks efficiently, thereby improving kitchen efficiency and reducing errors.
The full service restaurants market covered in this report is segmented –
1) By Service: Casual Dining Restaurants, Fine Dining Restaurants
2) By Model: Independent Consumer Foodservice, Chained Consumer Foodservice
3) By Location: Standalone, Retail, Travel, Leisure, Hotels
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Regional Insights – Asia-Pacific was the largest region in the full service restaurants market in 2023. The regions covered in the full service restaurants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Darden Restaurant Inc., Sizzler USA, Bloomin’ Brands Inc., Brinker International Inc., Texas Roadhouse Inc., Red Lobster Hospitality LLC, Cheesecake Factory Incorporated, Cracker Barrel Old Country Store Inc., Red Robin Gourmet Burgers Inc., Cheddar’s Scratch Kitchen, Yard House USA Inc., MOD Super Fast Pizza Holdings LLC, Hillstone Restaurant Group, Fogo de Chao Inc., The ONE Group Hospitality Inc., Cooper’s Hawk Winery & Restaurants, Maggiano’s Little Italy, Bahama Breeze, J. Alexander’s Holdings Inc., Firebirds International LLC
Table of Contents 1. Executive Summary2. Full Service Restaurants Market Report Structure3. Full Service Restaurants Market Trends And Strategies4. Full Service Restaurants Market – Macro Economic Scenario5. Full Service Restaurants Market Size And Growth…..27. Full Service Restaurants Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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