The Gross Value Added (GVA) for Food Services and Beverage Services in the US is projected to increase from 498.3 billion USD in 2024 to 582.99 billion USD in 2028. Comparing the year-on-year variations: from 2024 to 2025, an increase of 4.32% is expected; from 2025 to 2026, a rise of 4.08%; from 2026 to 2027, an increment of 3.89%; and from 2027 to 2028, an upward change of 3.70%. Analyzing the Compound Annual Growth Rate (CAGR) over these five years shows an average annual increase of 3.84%. In 2023, this value was notably lower, emphasizing strong forecasted growth.
Future trends to watch for include technological advancements in food service automation, shifts in consumer preferences towards sustainable and healthier food options, and the potential impact of economic fluctuations on consumer spending in the sector. Monitoring these factors will be crucial for understanding the trajectory of growth in the food and beverage service industry.
