The full-service restaurants market size has grown strongly in recent years, increasing 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 during the historical period can be attributed to the 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 increasing demand for ready-to-eat foods. The market is expected to continue to grow robustly in the coming years, projected to reach $1,868.46 billion in 2028 at a CAGR of 5.4%. This anticipated growth is driven by factors such as the increasing popularity of online food ordering, organic food options, the rising number of tourists, and the growing demand for convenience foods, alongside an increase in cardiovascular diseases. Key trends in the forecast period include the development of well-established online platforms, the implementation of digital inventory tracking systems, advancements in quick-service restaurant technology, innovative dining concepts, and the emergence of new operational software.
Global Full Service Restaurants Market Key Driver
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.
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Global Full Service Restaurants Market Segments
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
By Geography:The regions covered in the full service restaurants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the full service restaurants market in 2023.
Major Full Service Restaurants Industry Players
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
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Full Service Restaurants Market Overview
A full-service restaurant is an establishment where customers are provided with a comprehensive dining experience, where guests are typically greeted and seated by a host or hostess, and their meals are ordered and served by waitstaff. Full-service restaurants often emphasize ambiance and customer experience, offering a more leisurely dining atmosphere than fast food or quick-service restaurants.
Full Service Restaurants Global Market Report 2023 provides data on the global full service restaurants market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The full service restaurants market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
