The Restaurant Industry Could Be One of the Biggest and Most Profitable Industries in the Near Future

There’s a new industry giant in town—and it’s looking like it’s here to stay. Experts are predicting the restaurant industry to reach $1.2 trillion by 2030, representing a growth of nearly 50% from 2018’s $833 million, according to Restaurant Business, citing data from the National Restaurant Association (NRA). 

The Association predicts the industry will add almost two million employees over the next 10 years as it tries to keep up with the ever-increasing consumer demand for prepared food, Restaurant Business says. The industry has evolved immensely over recent years, as it shifts to a larger focus around takeout and quickly getting food to consumers’ doors. It also evolved in the sense that food trucks have become increasingly popular, along with in-store kiosks and other nontraditional locations, according to Restaurant Business. 

The NRA expects several large-scale industry trends including more third-party delivery, virtual restaurants, subscription services and grab-and-go locations. It also expects “ghost” kitchens to become more popular as delivery-only brands begin to pop up. 

The restaurant industry is bound for some significant changes and this writer (who doubles as a food connoisseur) is pretty amped to see where it’s heading. As Kansas sings, “Carry on my wayward son.” 

Read the full Restaurant Business article here.