Restaurant industry sales are expected to reach $1.2 trillion by the end of the next decade, according to the “Restaurant Industry 2030: Actionable Insights for the Future” report released Tuesday by the National Restaurant Association.
That trillion-dollar forecast springboards from industry sales estimated at $863 billion for 2019 and comes with expected changes in what actually defines a “restaurant.”
“The basic paradigm of what constitutes a restaurant is rapidly changing,” said Hudson Riehle, senior vice president of the association’s research and knowledge group, in an interview. And many of those anticipated changes are linked to technological advances, he said.
The “Restaurant Industry 2030” report, on which the association partnered with American Express and Nestlé Professional, examined the key indicators shaping the future of the industry. The findings were based on input restaurant sector experts, futurists and government statistics.