U.S. Foodservice Revenues to Decline 25% from 2019, But are Expected to Rebound by 2024
Although full-service restaurants have slowly been losing share of restaurant spending to less expensive and more convenient fast food and fast casual restaurants, they still made up the largest share of revenues from eating and drinking places in 2019, according to Food Carryout & Delivery, a recently published report market research firm Packaged Facts.
As the coronavirus pandemic sweeps the nation in 2020, foodservice revenues are forecast to decline more than 25% from 2019 as dine-in service shuts down amid decreased consumer spending on restaurants as people stay at home and cook more even as some states slowly begin reopening. Revenues will...
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