Number of Restaurants in The US: A Comprehensive Industry Overview in 2024

As of 2024, the United States has over a million restaurants. This shows the nation’s love for dining out. From big cities to small towns, the dining scene is diverse and lively.

People spent $895.1 billion on food and drinks in 2024. This number is expected to grow to $921.7 billion by 2025. But what makes this industry so vibrant? What are the main trends and factors shaping the US restaurant scene?

Key Takeaways

• The US restaurant industry has over a million establishments as of 2024.
• 70% of restaurants in the US are single-unit operations, while 9 out of 10 are small businesses with less than 50 staff members.
• The industry is facing challenges from the pandemic but is showing signs of recovery, with 137,513 chain restaurants as of 2023.
• Consumers are increasingly embracing convenience, with 60% ordering delivery or takeout at least once per week.
• The restaurant industry is a significant contributor to the US economy, employing around 9.2 million individuals.

Current Restaurant Industry Landscape

The United States restaurant industry is full of life and variety. It ranges from fast-food chains to fancy fine dining places. By 2023, there were about 749,000 restaurants in the US. This includes both big chain restaurants and small, independent ones.

Total Restaurant Count and Distribution

Chain restaurants are big in the US, with around 349,000 of them. There are also 156,715 single-location full-service restaurants. This shows the mix of big and small in the industry.

Chain vs Independent Operations

Chain restaurants are a big part of the US dining scene, with 137,513 of them in 2023. They share the space with many independent restaurants. Chain restaurants have big advantages, but independent ones offer special experiences and new ideas.

Market Segmentation

The US restaurant industry meets many different tastes and budgets. It has everything from fast food to fancy dining. This variety shows how the industry adapts to what Americans want to eat.

The US restaurant scene is complex and varied. It has both chain and independent restaurants. And it caters to many different tastes, making dining in America exciting and diverse.

What is the Revenue and Economic Impact of Restaurants in the US?

The US restaurant and foodservice industry is a key part of the national economy. It adds a lot to economic output, employment, and tax revenue. In 2024, it’s expected to make $1.4 trillion, which is about 6% of the country’s real GDP.

This impact goes beyond just restaurants. The industry is set to contribute $3.5 trillion to the economy, making up 15.6% of real GDP.

The industry’s importance is clear in its job numbers. In 2022, it had 14.2 million workers, earning $472.4 billion. By 2024, it’s expected to have 22.9 million employees and earn $1.1 trillion, making it the second-largest private employer.

The restaurant industry’s impact isn’t just in jobs and money. It’s also a big tax payer. In 2024, it’s expected to pay $490.4 billion in taxes, helping fund public services and infrastructure.

Different types of restaurants also play a big role in the economy. Full-service restaurants are expected to have a direct output of $545.12 billion. They will employ 5.65 million people and earn $198.78 billion in labor income in 2024. Limited-service restaurants are expected to contribute $568.27 billion in output, employ 5.56 million people, and earn $160.79 billion in labor income.

The US restaurant industry is very important. It has a big economic impact, creates a lot of jobs, and pays a lot in taxes. As it grows, its role in the American economy will keep being a focus for everyone involved.

What is the Most Popular Type of Restaurant in US?

In the United States, fast food and casual dining are top choices for many. Chain restaurants, especially quick-service and fast-casual ones, have seen a big increase. This is shown by the 164,000 more jobs in the industry in 2024 compared to before the pandemic.

French fries are the favorite online food order in America, followed by chicken quesadillas and mozzarella sticks. This shows a love for comfort foods, which fits well with the popularity of fast food and casual dining. Fast food chains also lead in social media engagement, especially on Instagram, showing their broad appeal.

Dining preferences vary by region and culture, but fast food and casual dining are clear winners. They offer convenience, affordability, and familiar tastes that many Americans enjoy. As the restaurant scene keeps changing, these trends are expected to grow even stronger in the future.

How Many US Restaurants are There?

The US restaurant industry is booming, with a huge number of places to eat all over the country. By 2023, there were about 749,404 restaurants in the United States. This includes both big chains and small, independent spots. This number shows how big the restaurant industry is, which is key to the US economy.

Before the COVID-19 pandemic, the National Restaurant Association thought there were over 1 million restaurants in the US. But the pandemic hit hard, closing over 110,000 restaurants for good. Now, with 749,404 restaurants, the industry shows it can bounce back and adapt.

The restaurant industry has a big impact on the economy, with $898 billion in sales in 2022. It’s also expected to create 15.5 million jobs by 2023. Keeping track of how many restaurants there are and their economic role is key to understanding this important sector.

Restaurant Industry Demographics and Employment

The US restaurant and food service industry employs about 9.2 million people. It has a diverse and dynamic workforce. This reflects the broader demographic trends in the country.

Workforce Demographics

The restaurant industry has a more diverse workforce than the US labor force. Minorities own 41.2% of restaurant firms. Also, 50% of employees are from minority backgrounds, compared to 41% in the total US workforce.

Hispanic individuals make up 26% of the industry’s employees. Black or African American people are 12%, and Asian people are 7%. The industry employs a younger demographic, with 40% of workers under 25 and 60% under 35.

Employment Growth Projections

The restaurant industry is expected to grow its employment. It will see an average annual increase of 150,000 jobs from 2024 to 2032. By 2032, the total number of employees is expected to reach 16.9 million.

Wage Statistics and Trends

As of October 2024, the typical hourly wage for a restaurant worker is $17.11. Wage levels vary by position and location. The industry offers a range of jobs, from entry-level to management roles, for diverse workforce demographics and career aspirations.

Digital Transformation in Restaurant Operations

The restaurant industry is changing fast, thanks to digital technology. Now, restaurants can take orders online and use contactless payments. This makes the dining experience better and helps them work more efficiently.

Many customers, 76%, want restaurants to use more technology for better service. Also, 49% like using Apple Pay, and 47% prefer making reservations online. It’s clear that people want a digital dining experience, with 80% saying they’d order through a restaurant app.

Technology is changing how restaurants work behind the scenes too. 100% of restaurant owners use tech to fill staffing gaps. And 80% say having a website or social media is crucial for survival. This year, 54% plan to invest more in technology, seeing it as a way to stay competitive.

The digital revolution in restaurants is just starting. With trends like online ordering, mobile payments, and personalized services through tools like this HubSpot review, the future looks bright. Restaurants that adopt these restaurant technology trends and offer a smooth digital dining experience will likely do well.

Conclusion

The US restaurant industry has shown great strength and flexibility. With over a million places to eat across the country, it plays a big role in the economy. As things change, restaurants are using new tech and listening to what customers want.

Even with tough times like finding workers and high costs, things are looking up. More people are spending money at restaurants, and jobs are growing. The outlook is good, with more growth expected. Restaurants are now offering better pay and using tech to work smarter.

The industry is changing to meet different tastes and needs. People want local food, eco-friendly choices, and special dining experiences. By keeping up with these trends, restaurants can thrive and serve their customers better.