Summary
A little fishy: Growth will be somewhat tempered due to heightening external competition
Abstract
Sushi Restaurants in the US
Revenue for the Sushi Restaurants industry trended upward over most of the current five-year period. The industry, which is highly fragmented and consists mainly of small, owner-operator establishments, performed well despite heightened competition from other retailers. Sushi establishments have grown in popularity as a result of consumers’ increased health consciousness and disposable income levels. Industry growth has been further supported by the expanding palates of US consumers, increasingly seeking diverse ethnic cuisines. Nevertheless, the industry contended with challenges stemming from the COVID-19 outbreak. IBISWorld expects industry revenue to grow at a CAGR of 1.4% to $28.4 billion over the past five years, including a 6.6% recovery growth in 2023.
The industry is composed of restaurants primarily engaged in providing sushi-style foodstuffs to patrons who order and are served while seated by waitstaff or via conveyor belt-style delivery systems and pay after eating. These establishments may also sell alcoholic and other beverages to patrons.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
