The food services and drinking places tourism output in the US saw a fluctuating trend from 2013 to 2023, with significant decreases during 2015 and 2020. The value in 2023 stood at 154.6 billion USD, marking a year-on-year increase of 1.65%. The last 5-year period indicates a modest CAGR of 1.78%. Looking ahead, the forecasted average growth rate over the next five years shows a CAGR of 1.31%, reaching up to 166.84 billion USD by 2028, representing overall growth of 6.74%.

Future trends to watch for include:

The impact of technological advancements on food services
The influence of health and wellness trends on consumer preferences
Post-pandemic recovery and its effect on tourism and dining out habits
Potential economic fluctuations and their impact on discretionary spending
The role of sustainability and eco-friendly practices in the food service industry