After Steep Declines, U.S. Foodservice Industry Set to Rebound to Pre-Pandemic Levels by 2023
The latest research from Mintel shows that after several years of growth, the foodservice industry is expected to decline by up to 30% from 2019-2020, following nationwide dine-in bans/restrictions, restaurant closures, job losses, and lowered consumer confidence.
Looking ahead though, Mintel predicts total market sales to rebound to pre-pandemic levels by 2023, with limited-service restaurants (LSRs) including fast food and fast casual restaurants, bouncing back more quickly and representing a notably larger share of the market.
While sales declines will be felt across both LSRs and full service restaurants (FSRs), the majority of these declines will be driven by the FSR segment which has been hit the hardest by...
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