The Fast Food Restaurants industry will continue to be one of the strongest U.S. industries, reaching $320 billion in the next five years.
The industry’s ability to provide convenient food at a low price will likely remain popular as consumers continue to seek affordable and convenient food options.
Fast food restaurants will benefit from a strong U.S. economy. The national unemployment rate is expected to decline while consumer sentiment is anticipated to strengthen. These trends are expected to bolster demand for the industry. Furthermore, consumer spending is estimated to increase at an annualized rate of 3.8%.
Additionally, fast food restaurants are expected to continue to expand menu options to cater to changing consumer preferences. Product innovation will likely play a large part in revenue growth moving forward.