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Study: QSR, pizza delivery drive US restaurant growth through 2023

October 15, 2018

QSR and take-out lead the way for U.S. food service sector growth in the immediate future, according to the latest study by ResearchAndMarkets.com. In fact, the American foodservice restaurant market is expected to grow at a CAGR of 10 percent by 2023, putting the U.S. at the No. 2 slot in size for the restaurant industry globally, due to what the company said is an increased dining-out culture, according to a news release said.

QSRs focused on organic produce and healthy food are the biggest area of future growth, the company said, with U.S. organic food demand growing at breakneck speed.

Primary growth factors in the restaurant industry include increased digitalization of food service, where customers can order ahead and pay online. Likewise, home delivery — mainly in the case of pizza —  has been another major driver for the market.

The nation's increasing cultural mix and the multinational workforce is also driving a growing love for exotic foods and flavors among all customers while skyrocketing U.S. coffee consumption is driving growth in the café sector of the industry. 

Nonetheless, increasing rates of obesity, as well as overall healthful eating awareness, is also affecting the industry in the U.S., particularly as it pertains to QSR fare, which has grown to have a reputation for being unhealthful. That is restraining some growth, along with the rising cost of quality ingredients and food safety protection. 

The report includes information about key trends, market dynamics, segmentation, competition and company profiles for brands like McDonald's, Yum Brands, Burger King, Dunkin' Donuts, Sonic and Papa John's.