In 2023, the number of food service establishments in the US was 682,000. The forecast for 2024 marks a 1.16% increase, expected to reach 689.91 thousand. The subsequent years show a steady annual growth at approximately 1.11%, with numbers escalating to 720.17 thousand by 2028. Over the five-year period, the compound annual growth rate (CAGR) is estimated at about 1.16%. These figures suggest a stable expansion trend within the industry.
Future trends to watch for include technological advancements in service efficiency, shifts towards sustainable and health-conscious offerings, and potential impacts from economic fluctuations and policy changes. Staying attuned to consumer preferences and market innovations will be essential for growth.
