The average cost of a restaurant meal increased 14 percent over the last five years, and U.S. restaurants experienced 700 million fewer visits between 2014 and 2019. But among a general decline in the restaurant business, there are bright spots and opportunities for growth, according to David Portalatin, a vice president at The NPD Group, a market research firm.
Speaking at the Global Seafood Market Conference in Orlando, Florida, U.S.A. on Tuesday, 21 January, Portalatin said big changes are underway in the U.S. foodservice sector, with a heavy trend toward food consumption at home rather than in dedicated dining establishments. However, that doesn’t always mean Americans are cooking at home – frequently, they’re either ordering in or grabbing take-out, Portalatin said.
The trend is not directly linked to economic factors, as overall, U.S. consumer spending grew 1.8 percent in 2019 to reach USD 2 trillion (EUR 1.8 trillion). Instead, Portalatin said, it reflects a growing desire on behalf of the consumer for convenience from the foodservice establishments they patronize…