How Has the Full Service Restaurants Market Evolved Historically and What is its Current Size?
The full service restaurants market has seen considerable growth due to a variety of factors.
• The full service restaurants market has experienced substantial growth in recent years. It is expected to increase from $1514.23 billion in 2024 to $1599.97 billion in 2025, with a compound annual growth rate (CAGR) of 5.7%.
The growth has been fueled by the expansion of delivery and takeout services, the rise of international food chains and franchises, the growing food and beverage industry, and the increased demand for ready-to-eat foods.
What is the Forecasted Market Size and CAGR for the Full Service Restaurants Market?
The full service restaurants market is expected to maintain its strong growth trajectory in upcoming years.
• The full service restaurants market is projected to reach $1964.94 billion by 2029 at a CAGR of 5.3%.
Growth drivers include the rise of online food ordering, popularity of organic foods, increased tourism, demand for convenience foods, and growing cardiovascular disease prevalence. Trends include the development of online platforms, digital inventory tracking, advanced restaurant equipment, new dining concepts, and software solutions for operations.
What Key Factors and Trends Are Driving The Growth Full Service Restaurants Market?
The increasing demand for convenience foods is expected to drive the full-service restaurant market. Convenience foods cater to busy consumers by offering easy-to-prepare, ready-to-eat meals. Full-service restaurants provide a variety of ready-to-eat meals, making dining out or ordering takeout more convenient. According to the U.S. Department of Agriculture, processed food exports from the U.S. increased to $36.59 billion in 2023, signaling a rise in consumer demand for convenient food options. This trend is expected to continue to support the growth of the full-service restaurant market.
What Are The Market Segments In The Full Service Restaurants Market?
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
Subsegments:
1) By Casual Dining Restaurants: Family Style Restaurants, Bistro And Brasserie, Pub-Style Restaurants, Fast Casual Dining, Ethnic Cuisine Restaurants (Italian, Mexican, Chinese), American And Regional Casual Dining
2) By Fine Dining Restaurants: Luxury Or Michelin-Star Restaurants, Contemporary Fine Dining, Specialty Restaurants (Seafood, Steakhouse, Fusion), Exclusive Chef’s Table And Tasting Menus, Wine And Dine Experiences, Private Dining Rooms And Exclusive Venues
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Which Emerging Market Trends Are Altering The Full Service Restaurants Industry?
In the full-service restaurant market, companies are implementing automated ordering systems to enhance operational efficiency. For instance, in April 2024, Fiserv introduced Clover Kiosk and Clover Kitchen Display System for restaurants. The self-service kiosks allow customers to place and pay for orders directly, reducing wait times and improving order accuracy, while the Kitchen Display System helps streamline kitchen operations and communication.
Who Are the Key Players In The Full Service Restaurants Market?
Major companies operating in the full service restaurants 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
What Are The Regional Insights Into The Full Service Restaurants Market?
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.
