Full-Service Restaurants Market Report 2024: Industry Trends and Global Expansion Opportunities

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The new report published by The Business Research Company, titled Full Service Restaurants Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the full service restaurants market size has grown strongly in recent years. It will grow from $1,441.25 billion in 2023 to $1,514.23 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The full service restaurants market size is expected to see strong growth in the next few years. It will grow to $1,868.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.

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What Is Driving The Growth Of The Global Full Service Restaurants Market?

Rising Demand For Convenience Foods Drives Full-Service Restaurant Market Growth
The increasing demand for convenience foods is expected to propel the growth of the full-service restaurant market going forward. Convenience foods are pre-packaged or pre-prepared foods designed for quick and easy consumption with minimal preparation time. They are typically ready-to-eat or require simple steps like heating or mixing, catering to busy lifestyles. The growing demand for convenience foods is due to busy lifestyles, lack of time for cooking, and the desire for quick, easy meal solutions. Full-service restaurants offer a variety of ready-to-eat meals that cater to consumers seeking quality dining experiences without the effort of cooking at home, and easy takeout or delivery options make enjoying gourmet meals convenient and accessible. For instance, in 2023, according to the United States Department of Agriculture, a US-based federal agency, the total value of US processed food products exported from the country increased to $36.59 billion in 2023, an increase of 1.7% compared to previous years. Therefore, the increasing demand for convenience foods drives the full-service restaurant market.

What Is The Key Trend In The Global Full Service Restaurants Market?

Innovative Solutions In Full-Service Restaurants Embracing Automated Ordering Systems For Market Growth
Major companies operating in the full-service restaurants market are focusing on adopting advanced solutions in the restaurant such as, automated ordering systems to enhance operational efficiency in the restaurant industry. Automated ordering systems streamline ordering by allowing customers to place and make payments directly, reducing wait times and improving order accuracy. For instance, in April 2024, Fiserv, a US-based financial technology company, introduced Clover Kiosk and Clover Kitchen Display System, a self-service kiosk technology for restaurants. This innovative solution features intuitive touchscreens, integrated payment systems, and real-time order tracking. The Clover Kiosk streamlines the ordering process for restaurant customers with its 24-inch touch screen and 8-inch payment terminal. Customers can browse menus, customize orders, and complete transactions without waiting in line. The Clover Kitchen Display System (KDS) is complementing the kiosk, which enhances communication between front-of-house and back-of-house operations. The KDS displays orders in real-time, enabling kitchen staff to view orders, track their status, and prioritize tasks efficiently, thereby improving kitchen efficiency and reducing errors.

How Is The Global Full Service Restaurants Market Segmented?
The full service restaurants market covered in this report is segmented -

1) By Service: Casual Dining Restaurants, Fine Dining Restaurants
2) By Model: Independent Consumer Foodservice, Chained Consumer Foodservice
3) By Location: Standalone, Retail, Travel, Leisure, Hotels

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How Is The Competitive Landscape Of The Global Full Service Restaurants Market?
Major companies operating in the full service restaurants market are Darden Restaurant Inc., Sizzler USA, Bloomin' Brands Inc., Brinker International Inc., Texas Roadhouse Inc., Red Lobster Hospitality LLC, Cheesecake Factory Incorporated, Cracker Barrel Old Country Store Inc., Red Robin Gourmet Burgers Inc., Cheddar's Scratch Kitchen, Yard House USA Inc., MOD Super Fast Pizza Holdings LLC, Hillstone Restaurant Group, Fogo de Chao Inc., The ONE Group Hospitality Inc., Cooper's Hawk Winery & Restaurants, Maggiano's Little Italy, Bahama Breeze, J. Alexander's Holdings Inc., Firebirds International LLC

Contents Of The Global Full Service Restaurants Market
1. Executive Summary
2. Full Service Restaurants Market Report Structure
3. Full Service Restaurants Market Trends And Strategies
4. Full Service Restaurants Market - Macro Economic Scenario
5. Full Service Restaurants Market Size And Growth
…..
27. Full Service Restaurants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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