The gross output of Food and Beverage Stores in the US demonstrated a steady upward trend from 2013 to 2019, with notable year-on-year increases ranging from 1.24% to 4.64%. The exception was in 2020, where there was a sharp decline of -15.39%, primarily due to the COVID-19 pandemic. Recovery began in 2021 with a significant rebound of 16.59% and continued growth up to 2023, where the value stood at 273.93 billion USD.
For the period from 2024 to 2028, a moderate but consistent growth trend is projected, with a forecasted 5-year CAGR of 1.35% and a total growth rate of 6.95% from 2024. This suggests a stable and resilient industry despite prior disruptions.
Future trends to watch for include:
- Increasing consumer demand for organic and healthy food options.
- The impact of technological advancements such as online grocery shopping and automated stores.
- Potential supply chain disruptions and their effects on store output.
- Changing regulatory environments and their impact on business operations.
