In September 2023, the U.S. restaurant industry received a performance index score of 100.4. One year prior, the industry received an index score of 101. The restaurant industry performance index is a statistical barometer measuring the overall health of the U.S. restaurant industry. The index is based on the results of the monthly Restaurant Industry Tracking Survey composed of a variety of indicators including sales, traffic, labor and capital expenditures. A value above 100 indicates a period of expansion while a value below 100 indicates a period of contraction.

This statistic shows the restaurant industry food and drink sales in the United States from 1970 to 2017. In 2016, food and drink sales of the U.S. restaurant industry amounted to approximately 766 billion U.S. dollars.

More statistics and facts on fast food, the U.S. restaurant industry and the pizza (delivery) market.

U.S. restaurant industry - additional information

In 2016, food and drink sales in the United States restaurant industry amounted to 766 billion U.S. dollars, up from 798.7 billion U.S. dollars in the previous year. Restaurants in the United States have created a booming industry that employed more than 14 million people nationwide in 2015.

Unsurprisingly, the majority of food and drink sales in the U.S. restaurant industry take place in commercial restaurants. In 2016, full-service restaurant sales amounted to 254 billion U.S. dollars and limited-service sales were 222 U.S. dollars. The second largest contributor in 2015 was retail, vending, recreation and mobile vendors with sales of 70.82 billion U.S. dollars. The smallest proportion came from came from bars and taverns.

As of December 2016, things were still looking up for the U.S. restaurant industry: the monthly Restaurant Industry Tracking Survey, conducted by the National Restaurant Association, recorded a performance index score of 100.5 – any score over 100 indicates a period of expansion. The lowest performance index score between 2011 and 2017, 99.4, was recorded in August 2011. In November 2016, 49 percent of U.S. consumers reported that cheaper restaurants would make them dine out more often.

According to Cognitive Market Research, the global Commercial Cooking Equipment market size was USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 5.33% from 2024 to 2031.

The global Commercial Cooking Equipment market will expand significantly by 5.33% CAGR between 2024 to 2031.
North America held the major market of more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Europe accounted for a share of over XX% of the global market size of USD XX million.
Asia Pacific held a market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Latin America's market will have more than XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
Middle East and Africa held the major market of around XX% of the global revenue with a market size of USD XX million in 2023 and will grow at a compound annual growth rate (CAGR) of XX% from 2024 to 2031.
The oven product segment is set to rise due to a rise in fast-food establishments. Cooking has become more popular in the food service industry because of new oven features that make it easier.
The Commercial Cooking Equipment market is driven by the expansion of the food service industry, an increase in quick-service restaurant numbers, and technological advancements.
Quick Service Restaurants held the highest Commercial Cooking Equipment market revenue share in 2023.

Market dynamics of Commercial Cooking Equipment

Key drivers of the Commercial Cooking Equipment Market

The market is being driven forward by the expansion of the food service industry-

The market for commercial cooking equipment is expanding as a result of an increase in business travel and the number of lodging and dining establishments. According to the National Restaurant Association's Restaurant Performance Index, The RPI, a monthly composite index that monitors the state of the restaurant business in the United States, increased by 0.3% to 99.0 in February from 98.7 in January.

The United States is home to over a million restaurants, which is a major factor in the market's expansion for commercial cooking equipment. Additionally, as more people eat out, the need for commercial cooking equipment has expanded due to the growth of the food service business. Thus, the market is anticipated to expand throughout the course of the forecast period as a result of rising cross-border investments, more experimentation and fresh concepts in a variety of cuisines, and the rapidly expanding travel and tourism sector.

The market is expanding due to the increase in quick-service restaurant numbers-

The goal of a quick-service restaurant is to serve food to patrons as quickly as possible in an efficient manner. This typically indicates that the food is prepared promptly after you place your order and that you can serve yourself. In addition, a lot of quick-service restaurants provide additional options like takeout, drive-thru, and home delivery, which are ideal for the modern lifestyle. For instance, according to a press release published by Jollibee, a prominent quick-service restaurant, the network of stores expanded by 9.2% in 2022 compared to 2021, with a total of 542 new stores opening worldwide. Source- https://bucketeer-3eb16243-2c1c-43d2-be4e-1c2b3664d293.s3.amazonaws.com/2023%2F06%2FPClMDNJ1-JFC-Annual-Report-2022.pdf

The number of quick-service restaurants has increased due to changes in consumer behavior and busy schedules, as well as increases in disposable income, the number of working women, and rapid digitalization. This has increased demand for kitchenware such as fryers and ovens. Thus, each of these factors has a significant effect on the expansion of the commercial cooking equipment market.

Technological advancements will propel market growth in the commercial cooking equipment market-

Commercial kitchens are investing in technologically advanced culinary equipment, such as energy-efficient models, smart kitchen appliances, and IoT-enabled gadgets. The new SkyLine combi ovens from Electrolux Professional were unveiled in October 2023 at th...

Restaurant Accounting Software Market Outlook

The global restaurant accounting software market size was valued at approximately USD 2.5 billion in 2023 and is projected to reach around USD 5.3 billion by 2032, registering a compound annual growth rate (CAGR) of 9.1% during the forecast period. This significant growth can be attributed to the increasing digitization of restaurant operations and the growing need for efficient financial management tools in the hospitality sector. The market is driven by a robust demand for solutions that streamline accounting processes, improve financial accuracy, and enhance overall operational efficiency. Additionally, the rise of cloud-based technologies and the increasing adoption of mobile devices are further propelling the market forward.

One of the primary growth factors for the restaurant accounting software market is the escalating complexity of financial operations within the restaurant industry. As restaurants continue to expand their operations both locally and globally, managing multiple revenue streams, diverse supplier contracts, and varying tax regulations has become increasingly challenging. This complexity necessitates advanced accounting solutions that can automate financial processes, reduce errors, and provide real-time insights into financial performance. Consequently, restaurant owners and managers are increasingly investing in sophisticated accounting software to gain a competitive edge, ensuring compliance and optimizing their financial management practices.

Another significant growth driver is the rising demand for data-driven decision-making in the restaurant industry. With the advent of big data and analytics, restaurant owners are placing greater emphasis on leveraging financial data to drive strategic business decisions. Restaurant accounting software provides comprehensive reporting and analytics capabilities that allow businesses to track key performance indicators, analyze trends, and forecast financial outcomes. This data-driven approach enables restaurants to make informed decisions regarding menu pricing, cost control, and resource allocation, ultimately leading to improved profitability and business sustainability. The growing recognition of the value of data analytics is fueling the adoption of restaurant accounting software across the industry.

Moreover, the increasing focus on enhancing customer experiences is indirectly contributing to the growth of the restaurant accounting software market. Today's consumers expect personalized, efficient, and seamless dining experiences, prompting restaurants to invest in technologies that improve service delivery and customer engagement. Accounting software solutions integrate with point-of-sale systems and other customer-facing technologies, enabling restaurants to offer faster transactions, accurate billing, and loyalty program integration. By providing these enhanced customer experiences, restaurants can attract and retain more customers, thereby driving revenue growth and necessitating advanced accounting software to manage the associated financial transactions efficiently.

The regional outlook for the restaurant accounting software market reveals a diverse landscape with varying growth trajectories across different regions. North America currently holds a significant share of the market, driven by the presence of a large number of restaurant chains and the early adoption of advanced technologies. The region's mature market is characterized by a high level of digital literacy and a strong focus on operational efficiency, contributing to the widespread implementation of restaurant accounting software. In contrast, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to the rapid expansion of the foodservice industry and increasing investments in digital infrastructure. The growing middle-class population and rising disposable incomes in countries like China and India are further fueling the demand for restaurant accounting solutions.

In the broader landscape of financial management within the hospitality industry, tools such as the Retail Accounting Tool have emerged as vital resources for businesses seeking to optimize their financial operations. This tool is particularly beneficial for retail-oriented restaurant chains that require precise tracking of sales, inventory, and customer transactions. By integrating with existing point-of-sale systems, the Retail Accounting Tool provides real-time data analytics, enabling restaurant managers to make infor

The Mexican food service market presents a dynamic landscape with significant growth potential. While precise market size figures for 2025 are unavailable, a reasonable estimate can be derived based on available data. Assuming a consistent CAGR (let's assume a conservative 5% for illustrative purposes, though this would need verification with actual data) and a starting point extrapolated from historical data, the Mexican food service market could be valued at approximately $XXX million USD in 2025. This robust market is driven by factors such as rising disposable incomes, a burgeoning middle class with increasing spending power on dining out, and the growing popularity of international cuisines alongside traditional Mexican fare. The quick service restaurant (QSR) segment, particularly within the pizza and burger categories, is likely experiencing rapid growth due to convenience and affordability. However, the full-service restaurant (FSR) segment, encompassing diverse cuisines, also contributes significantly. The growth of cafes and bars, particularly those specializing in coffee, tea, and desserts, points to changing consumer preferences towards experiences and specialized offerings. Expansion into cloud kitchens caters to the rising demand for food delivery services, while the presence of both chained and independent outlets indicates a diverse competitive environment. Challenges remain, including inflation affecting food costs and consumer spending, potential economic fluctuations, and competition amongst various food service types. The geographic distribution of growth may vary, with larger metropolitan areas likely experiencing faster expansion than smaller cities. Nonetheless, strategic investments in infrastructure, technology, and diversified food offerings are crucial for sustained growth in this sector. The market is segmented by foodservice type (cafes, bars, cloud kitchens, FSRs, QSRs), outlet type (chained, independent), and location (leisure, lodging, retail, standalone, travel). Analyzing regional differences within Mexico (e.g., urban vs. rural) is key for a comprehensive understanding. The success of major players like Alsea, Arcos Dorados, and Grupo Gigante highlights the competitiveness and potential for continued expansion within this thriving market. Further detailed market research is needed to refine these estimates and uncover specific regional trends and performance indicators. Recent developments include: November 2022: Alsea partnered with Uber Direct to deliver purchases made through the Alsea WOW+ platform and Starbucks Rewards in 30 minutes in Mexico.September 2022: Papa John's launched its new Chorizo range of pizza that features flavors inspired by the taste of space. The space-inspired pizza range combines Chorizo's stratospherically delicious flavors with Papa John's signature Pizzas, Papadias, and Rolls.September 2022: Alsea SAB announced its plans to invest USD 225 million to open 200 new Starbucks stores across Mexico by 2026.. Notable trends are: Quick service restaurants are dominating the market due to their affordable price ranges.

This analysis presents a rigorous exploration of financial data, incorporating a diverse range of statistical features. By providing a robust foundation, it facilitates advanced research and innovative modeling techniques within the field of finance.

RCI Hospitality (RICK): Will Restaurant and Casino Chain's Performance Impress Investors in 2023?

Financial data:

• Historical daily stock prices (open, high, low, close, volume)

• Fundamental data (e.g., market capitalization, price to earnings P/E ratio, dividend yield, earnings per share EPS, price to earnings growth, debt-to-equity ratio, price-to-book ratio, current ratio, free cash flow, projected earnings growth, return on equity, dividend payout ratio, price to sales ratio, credit rating)

• Technical indicators (e.g., moving averages, RSI, MACD, average directional index, aroon oscillator, stochastic oscillator, on-balance volume, accumulation/distribution A/D line, parabolic SAR indicator, bollinger bands indicators, fibonacci, williams percent range, commodity channel index)

Machine learning features:

• Feature engineering based on financial data and technical indicators

• Sentiment analysis data from social media and news articles

• Macroeconomic data (e.g., GDP, unemployment rate, interest rates, consumer spending, building permits, consumer confidence, inflation, producer price index, money supply, home sales, retail sales, bond yields)

Potential Applications:

• Stock price prediction

• Portfolio optimization

• Algorithmic trading

• Market sentiment analysis

• Risk management

Use Cases:

• Researchers investigating the effectiveness of machine learning in stock market prediction

• Analysts developing quantitative trading Buy/Sell strategies

• Individuals interested in building their own stock market prediction models

• Students learning about machine learning and financial applications

Additional Notes:

• The dataset may include different levels of granularity (e.g., daily, hourly)

• Data cleaning and preprocessing are essential before model training

• Regular updates are recommended to maintain the accuracy and relevance of the data

This statistic presents the monthly performance of chained volume index of gross value added of hotels and restaurants in the hospitality services in the United Kingdom (UK) between January 2019 and August 2020. The monthly chained volume index of GVA in hospitality oscillated between 102 and 103.4 index points from January 2019 until February 2020. However, in spring 2020 it plummeted until reaching 53.3 points in March. Since then, it steadily increased until reaching 100.1 index points in August 2020.

In 2022, the turnover of restaurants and mobile food services in the United Kingdom amounted to over 50 million British pounds. Based on figures reaching back to 2008, this was an all-time high. Number of outlets on the rise While turnover in the restaurants and mobile food industries increased between 2021 and 2022, the number of enterprises in these industries declined slightly in 2022 over the previous year. Meanwhile, the number of food and drink premises in Great Britain has been on a general trend of decline since 2019. How much money do consumers spend on eating out in the UK? In 2020/21, the average expenditure per person on eating and drinking outside the home in the UK decreased dramatically to less than four British pounds. While this recovered somewhat in 2021/22, rising to nearly nine British pounds, expenditure remained significantly lower than in 2019/20, when it amounted to over 15 British pounds.

Spending on restaurants and cafes in the United Kingdom increased in 2023 compared to the previous year. During this period, consumer spending rose to 132.59 billion British pounds, denoting an increase of around seven percent from the previous year.