What is in Store for the Restaurant Industry

The National Restaurant Association, in partnership with American Express and Nestlé Professional, took a deep dive into the Future of the restaurant industry. They released their report, Restaurant Industry 2030: Actionable Insights for the Future, which examines the industry’s current state and key indicators shaping the next several years. The findings in this report reflect input from various restaurant sector experts, futurists, and government statistics. 

Below are a few highlights from the report. Off-premise dining continues to grow, and customer expectations increasingly reflect demands for a seamless experience with complete transparency. Restaurants will be turning to technology and data solutions more than ever as they adapt to growing consumer expectations in the on-demand world.  

A factor in the off-premise growth is the consistent decrease in meals being cooked at home, lending to the continued rise in delivery, virtual restaurants, subscription services, and grab-and-go at retail locations.  

Consumers may grow increasingly loyal to third-party delivery apps. On the same note, governments are likely to impose further regulations on third-party delivery.  

On-premise dining is increasing, while consumers place a heightened importance on experiential dining for on-premises occasions. Live music, seating around a fire, and new creative concepts and events are just a few things attracting attention. Restaurant kitchens are getting smaller, leading to more purchases of ventless equipment, automated and multi-functional equipment, stackable equipment, mobile equipment, and vertical kitchen layouts.  

As restaurants open or expand to new locations, they will use data analytics to determine the area’s best menu items and price points. It’s essential to know the local demographics, financial averages, and personality to determine the best strategies for the restaurant.  

Restaurants will utilize AI and data solutions to improve profits, increase operational efficiencies, and reduce overall costs.  

Restaurants will continue to compete against other industries for talent, making recruitment and retention vital to success in the coming decade. Restaurant employers will adopt career-focused mentalities as operators enhance retention by offering benefits and long-term career paths to success. With more technology entering the restaurant space, a need for technologically advanced team members will become increasingly essential. 

Charcuterie boards are listed as the top ranked appetizer of the year, according to the National Restaurant Association 2023 culinary trends report. Specialty salts gained popularity with chefs. The gourmet salt market is projected to grow at a CAGR of 6.17% over the next five years to reach a total valuation of more than $477 million. Global cuisines are still at the top of the favorites list for adults, and international cuisine options will also be appearing on more kids’ menus. 

Restaurant industry sales are expected to reach $1.2 trillion by 2030. The industry workforce will likely exceed 17 million by 2030. Total U.S. employment is projected to increase at an annual rate of 0.5% during the next decade.  

Plant-based menu options continue to top the list of consumer cravings, with high growth projections. Locally-sourced, fresh ingredients and sustainability continues to grow in importance for consumers. Food that offers specific health benefits will be a high-demand option.  

Vertical Farming will have a projected $19.86 billion market valuation by 2026. The global market for functional beverages are expected to reach $173.23 billion in 2025 at a CAGR of 7% Popular beverages with health benefits include Turmeric latte, kombucha, adaptogen infused drinks, and more. Plant-based milk varieties like almond, oat, and pea are also on the rise. 

View the National Restaurant Association’s full 2024 Forecast by clicking here.