By the end of 2023, the restaurant industry is primed to disclose a remarkable annual sales figure of $997 billion, prompting an exploration of restaurant industry statistics.
In the 2021 post-pandemic period, the food and beverage sales in the U.S. food service industry saw a remarkable 19.7% growth. It also reached a substantial $789 billion, underlining the industry’s robustness and adaptability.
Thus, today we will delve into the restaurant industry’s statistics, providing insight into the key trends and factors that are shaping its fascinating journey.
Table of Contents
- Restaurant Industry Overview
- General Restaurant Industry Statistics
- Restaurant Industry Statistics: Revenue and Sales
3.1. Average Restaurant Sales and Growth Rate
3.2. Full-Service Restaurants Market Forecast 2023
- Number of Restaurants By State (2023)
- Restaurant Industry Statistics By Cuisines
- Restaurant Industry Trends
6.2. Rise in Instant Gratification
6.3. Personalized Offers are the New Norm
6.4. Demand for Healthy Options
7.1. Number of Restaurant Workers in 2023
7.2. Restaurant Industry Statistics by Employee Size
7.3. Hourly Wage of Restaurant Workers
7.4. Restaurant Industry Statistics: Percentage of Females
7.5. Restaurant Industry Workers According To Ethnicity
8.1. Restaurant Industry Customer Demographics
- Restaurant Industry Statistics: Technology
- Restaurant Industry Statistics: Online Ordering
- Restaurant Industry Statistics: Pandemic Effect
- Number of Restaurants Opening Each Year
- FAQs
13.1. How many restaurants are there in the US?
13.2. How big is the restaurant industry?
13.3. How many customers does a restaurant serve per day?
13.4. What percentage of US restaurants are considered fine dining?
1. Restaurant Industry Overview
- Growth in 2023: The food service industry is expected to maintain its growth trajectory, with sales projected to reach $997 billion in 2023, fueled partly by increased menu pricing.
- Industry Growth: The U.S. full-service restaurant industry experienced substantial growth, reaching an estimated total output of over 76.5 billion U.S. dollars in 2022.
- Global value: The global foodservice market achieved a value of 2.52 trillion U.S. dollars in 2021, with a projected increase to 4.43 trillion U.S. dollars by 2028.
- CAGR of the Restaurant Industry: The industry has a compound annual growth rate (CAGR) of 9.9% from 2021 to 2028.
2. General Restaurant Industry Statistics
- Contribution to GDP: In 2020, restaurants accounted for 4% of the United States’ GDP.
- Chain Restaurants in 2021: In 2021, 103,323 chain restaurants were operating in the United States.
- Independent Restaurants in 2019: There were a total of 490,000 independent restaurants in the United States as of December 2019.
- 2023 Sales Forecast: The projected total annual sales for 2023 are expected to reach $997 billion.
- Employment in Restaurants: An overwhelming majority, 90%, of restaurants in the United States employ fewer than 50 individuals.
- Profit Margins: The average profit margin for full-service restaurants typically falls within the range of 3% to 5%. Fast-casual restaurants tend to achieve profit margins between 6% and 9% while catering services typically see profit margins of 7% to 8%.
3. Restaurant Industry Statistics: Revenue and Sales
- Sales in 2021: In 2021, food and beverage sales within the U.S. food service industry reached an impressive $789 billion, reflecting a substantial 19.7% growth compared to the previous year.
- Segment Breakdown in 2021: Within the U.S. food service industry, the limited-service restaurant segment generated a substantial $339 billion in revenue, while the full-service segment garnered $255 billion.
- Sales Projection for Eating and Drinking Places: Sales in the eating and drinking places category saw a notable increase, rising from $548 billion in 2020 to $609 billion in 2021.
- Forecasted Sales for 2022: The U.S. food service industry was anticipated to achieve sales of $898 billion in 2022.
- Restaurant Profit Margins: Restaurant profit margins can vary widely, ranging from 0% to 15%, with the average typically falling within the 3% to 5% range.
3.1. Average Restaurant Sales and Growth Rate
The projected total annual sales for 2023 are estimated to reach $997 billion.
| Segment | 2019 | 2020 | 2021 |
| Full-service segment | $285 billion | $199.5 billion | $220.8 billion |
| Limited service segment | $308.9 billion | $290.4 billion | $313.6 billion |
| Bars and taverns | $22 billion | $7.7 billion | $13.9 billion |
| Other food establishments | $248.4 billion | $161.5 billion | $183.2 billion |
| Total | $864.3 billion | $659 billion | $731.5 billion |
3.2. Full-Service Restaurants Market Forecast 2023
Aspect | Details |
Full-Service Restaurant Market Size (2023) | $1.51 trillion |
Full-Service Restaurant Market CAGR (2023 – 2033) | 2.5% |
Full-Service Restaurant Market Size (2033) | $1.93 trillion |
Source: Future Market Insights
4. Number of Restaurants By State (2023)
State | Total Number of Restaurants |
Alabama | 6,969 |
Alaska | 1,041 |
Arizona | 9,170 |
Arkansas | 3,996 |
California | 68,189 |
Colorado | 8,846 |
Connecticut | 6,325 |
Delaware | 1,567 |
Florida | 34,901 |
Georgia | 15,864 |
Hawaii | 2,586 |
Idaho | 2,107 |
Illinois | 19,337 |
Indiana | 9,044 |
Iowa | 3,982 |
Kansas | 4,112 |
Kentucky | 5,790 |
Louisiana | 7,592 |
Maine | 1,908 |
Maryland | 8,657 |
Massachusetts | 10,562 |
Michigan | 13,083 |
Minnesota | 6,398 |
Mississippi | 4,155 |
Missouri | 8,298 |
Montana | 1,567 |
Nebraska | 2,550 |
Nevada | 4,953 |
New Hampshire | 2,061 |
New Jersey | 14,374 |
New Mexico | 2,892 |
New York | 34,359 |
North Carolina | 14,455 |
North Dakota | 939 |
Ohio | 15,230 |
Oklahoma | 5,69 |
Oregon | 6,712 |
Pennsylvania | 18,076 |
Rhode Island | 1,831 |
South Carolina | 7,828 |
South Dakota | 1,071 |
Tennessee | 10,118 |
Texas | 44,177 |
Utah | 3,588 |
Vermont | 900 |
Virginia | 12,166 |
Washington | 10,841 |
West Virginia | 2,071 |
Wisconsin | 8,076 |
Wyoming | 841 |
Source: Data Axle Usa
5. Restaurant Industry Statistics By Cuisines (2023)
Cuisine | Total number of Restaurants |
Family dining restaurant | 4,965 |
American Restaurants | 51,178 |
Steak Houses | 10,387 |
Italian Restaurant | 12,292 |
Barbeque | 8,952 |
Greek Restaurants | 2,824 |
Deli Restaurants | 45,516 |
Source: Data Axle Usa
6. Restaurant Industry Trends 2023
6.1. Payment methods
Although cash is preferred globally, restaurants need to add more payment options.
6.2. Rise in Instant Gratification
Nowadays, customers are less inclined to accept sluggish service, whether they’re dining in, ordering at a counter, or using a drive-thru.
6.3. Personalized Offers are the New Norm
Consumers have become accustomed to encountering customized advertising at every turn. They have also developed a fondness for proactive brand recommendations.
Below is the number of people who would like getting personalized offers from their favorite restaurants.
6.4. Demand for Healthy Options
In the past year and a half, heightened attention to public health has made consumers increasingly mindful of their dietary decisions and their effects on personal well-being.
They now expect restaurants to assist them in making healthier choices through clear menu labeling.
7. Restaurant Industry Statistics: Employees
As of Sept 2023, the hospitality sector, including restaurants, employs millions of Americans, with 12.5 million employees in the U.S. restaurant industry.
- Workforce Expansion: The restaurant industry is anticipated to see an expansion in its workforce, adding 500,000 jobs, resulting in total industry employment of 15.5 million by the conclusion of 2023.
- Industry Employment Share: The restaurant industry employs approximately 7.1% of the total workforce in the United States.
- Employee Satisfaction and Training: According to a survey on restaurant employee satisfaction, 50% believed that additional training would enhance their job satisfaction. 70% of those individuals expressed a preference for hands-on training provided by a manager.
- Gender Distribution: In terms of gender distribution within the restaurant workforce, 54.5% are women, while 45.5% are men.
- Average Age: The average age of restaurant workers stands at 27 years.
- Average Salary: On average, restaurant employees earn an annual salary of $25,504.
Source: Zippia
7.1. Number of Restaurant Workers in 2023
|
Year |
Number of Employees |
|
2012 |
9.9 million |
|
2013 |
10.3 million |
|
2015 |
11 million |
|
2019 |
12.1 million |
|
2020 |
6.4 million |
|
2021 |
10.3 million |
|
2023 |
12 million |
Source: The Small Business Blog
7.2. Restaurant Industry Statistics by Employee Size
| Number of Employees | Total number of restaurants |
| Restaurants with 1-4 Employees | 81,867 |
| Restaurants with 5-9 Employees | 190,700 |
| Restaurants with 10-19 Employees | 92,427 |
| Restaurants with 20-49 Employees | 93,394 |
| Restaurants with 50-99 Employees | 27,880 |
| Restaurants with 100-249 Employees | 6,621 |
| Restaurants with 250-499 Employees | 282 |
| Restaurants with 500-999 Employees | 31 |
| Restaurants with 1,000-4,999 Employees | 26 |
| Restaurants with 5,000-9,999 Employees | 5 |
| Restaurants with over 10,000 Employees | 7 |
7.3. Hourly Wage of Restaurant Workers
Occupation | Median Hourly Wage |
Food servers | $12.46 |
Bartenders, helpers, cafeteria, and dining room attendants. | $12.3 |
Host and Hostesses in restaurants, cafes, and lounges. | $11.48 |
Counter workers in fast food chains | $11.47 |
Note: Approximately 90% of restaurant managers began their careers in a starting-level role.
Source: Zippia
7.4. Restaurant Industry Statistics: Percentage of Females in 2023
|
Job category |
Percentage of Females |
|
Overall restaurant workers |
54.5% |
|
Chef |
15% |
|
Waiting Staff |
70% |
|
Bartenders |
57% |
|
Management positions |
49.3% |
|
Supervisor positions |
56% |
Source: The Small Business Blog
7.5. Restaurant Industry Workers According To Ethnicity in 2023
Approximately 51% of restaurant workers are white, with their presence spanning various roles.
Interestingly, this figure stands in contrast to the estimated 71% white population in the United States, indicating greater ethnic diversity within the restaurant industry.
Ethnicity | Percentage |
White | 51% |
Hispanic | 25.1% |
Black or African-American | 13.1% |
Asian | 6.7% |
Native American | 0.6% |
Source: The Small Business Blog
8. Restaurant Industry Statistics Based On Consumers
The restaurant industry is intrinsically shaped by its consumer base, responding to their evolving preferences and demands.
- Delivery Preference: 51% of Americans prefer restaurant meal delivery services.
- Weekly Food Delivery Users: As of 2023, 50% of Americans rely on food delivery, with 26% ordering weekly.
- Average Order Spending: Around 34% of consumers spend about $50 on online food orders.
- Spending Range: 26% of consumers spend up to $25, while 14% spend over $100.
- Dining Frequency: 56% dine out 2-3 times per week, and 10% dine out 4-6 times weekly.
- Income Group Spending: $40,000-$50,000 earners spend $117.82 weekly (12.25-15.31% of income).
- Annual Dining Budget: The average American spends $2,994 annually on dining out (12.8% less than the previous year).
- Website Influence: 77% visit restaurant websites before deciding; 30% dislike hard-to-read menus or outdated websites.
Source: Zippia
8.1. Restaurant Industry Customer Demographics
- Approximately two out of three Gen Z individuals consider takeout and delivery services to be essential components of their lifestyle.
- According to the NRA, 85% of Gen Zers have placed delivery orders within the past six months.
- The NRA reports that 72% of millennials regard takeout as an essential aspect of their lifestyle.
- Furthermore, 81% of millennials express interest in healthy food options.
- Nearly half of Gen Xers, specifically 47%, are open to purchasing meal kits from restaurants.
- In contrast, a mere 3% of Baby Boomers would consider buying a meal kit from a restaurant.
Source: Seven Rooms
9. Restaurant Industry Statistics: Technology
The advent of digital ordering and automation has the potential to usher in a transformative era within the restaurant industry, and numerous innovative technologies have already begun reshaping it.
- Contactless Ordering and Payment: 75% of restaurants have intentions to introduce contactless ordering and payment options. Additionally, 61% of establishments are already equipped to accept contactless payments.
- Kitchen Automation Adoption: Post 2021, 91% of restaurants have embraced kitchen automation technology as part of their operations.
- Surge in Digital Food Ordering: The prevalence of digital food ordering has surged by an impressive 135% since June 2020.
- Importance of Restaurant Websites: Notably, 81% of diners have utilized a restaurant’s website to place online orders, reflecting the increasing importance of digital channels.
- Self-Service Kiosks Impact: 65% of customers expressed their likelihood to visit a restaurant more frequently if self-service kiosks were made available.
- Technology’s Role in Enhancing Experience: A substantial 79% of consumers concur that technology plays a pivotal role in enhancing their overall restaurant experience.
Source: Zippia
10. Restaurant Industry Statistics: Online Ordering
The emergence of new trends in the restaurant industry was catalyzed by the COVID-19 pandemic, with one enduring trend being the prominence of online ordering.
- Online Food Ordering Growth: Online food ordering is poised to exceed $220 billion in value by 2025, constituting roughly 40% of all restaurant sales.
- Consumer Expectations: A significant 46% of consumers now anticipate restaurants to offer online ordering options.
- Preference for Restaurant Channels: When opting for online food orders, approximately 67% of diners express a preference for utilizing a restaurant’s website or dedicated app for food delivery.
- Market Share: Online ordering commands a substantial share, accounting for approximately 42% of the entire food ordering market.
- Remarkable Growth Rate: In stark contrast to the relatively steady growth rate of the broader food industry at 3.7%, online ordering has demonstrated remarkable annual growth rates ranging between 15% to 20%.
Source: Zippia
11. Restaurant Industry Statistics: Pandemic Effect
The COVID-19 pandemic dealt a devastating blow to the restaurant industry, resulting in widespread closures and severe job losses for millions of restaurant employees.
- Pandemic Job Loss: A staggering 2.4 million restaurant employees saw their jobs disappear throughout the pandemic.
- Holiday Season Unemployment: In the 2020 holiday season, a concerning 372,000 workers employed in restaurants and bars found themselves unemployed.
- Decline in Restaurant Sales: Restaurant sales experienced a substantial decline of $205.3 billion in 2020, marking a 23.8% decrease compared to the preceding year.
- Permanent Restaurant Closures: In March 2021, approximately 10% of all restaurants in the United States have permanently closed their doors since the onset of the pandemic.
- Total Restaurant Closures: At the outset of the pandemic, a total of 778,807 food establishments were operating in the United States. However, 79,438 of these restaurants have succumbed to permanent closure since then.
Source: Zippia
12. Number of Restaurants Opening Each Year
- United States: Each year, approximately 50,000 new restaurants emerge in the United States. Furthermore, in recent times, this figure has exhibited consistent growth, highlighting the industry’s robustness and its potential for further expansion.
- Europe: Throughout Europe, an estimated 25,000 new restaurants are believed to open each year. Among the favored culinary destinations are Italy, France, and Spain.
13. FAQs
13.1. How many restaurants are there in the US?
As of 2023, there are an estimated 15 million restaurants worldwide, with the United States alone having a total of 749,404 restaurants.
13.2. How big is the restaurant industry?
The food service market worldwide is expected to increase from $2,646.99 billion in 2023 to $5,423.59 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.79% throughout the forecast period.
13.3. How many customers does a restaurant serve per day?
The average number of restaurant customers per day depends on the type of restaurant.
Fast food establishments, usually situated in bustling locations, can serve hundreds or even thousands of customers daily. In contrast, independent restaurants typically receive a range of 8 to 60 online orders per day.
13.4. What percentage of US restaurants are considered fine dining?
In the United States, fine dining restaurants represent 1.4% of the Full Service Restaurant sector, accounting for just 0.73% of the overall restaurant industry encompassing both Full Service Restaurants (FSR) and Limited-Service Restaurants (LSR).
Conclusion
In conclusion, the restaurant industry’s robust growth, as indicated by its impressive CAGR of 9.9% from 2021 to 2028, underscores its vital role in the global economy.
The market’s value is set to surge from 2.52 trillion U.S. dollars in 2021 to an estimated 4.43 trillion U.S. dollars by 2028. Thus, it is clear that the restaurant industry will continue to be a thriving and dynamic sector with immense potential for innovation and expansion.
This growth trajectory signifies opportunities for entrepreneurs, job creation, and a diverse range of dining experiences for people worldwide. The restaurant industry’s enduring appeal and upward trajectory make it a promising sector for investment and continued evolution.
