Burger Restaurants in the US - Industry Market Research Report

Well Done: The Industry Will Likely Continue Approaching Market Saturation, Hurting Participation

The Burger Restaurants industry has performed well over the past five years as per capita disposable income increased, providing consumers will spend more money to eat away from home. Although the industry experienced increased competition from the broader foodservice market, burger restaurants still represent the market's largest segment, especially among limited-service restaurants. However, economic slowdowns caused by the COVID-19 pandemic have somewhat decreased burger demand. Nevertheless, burgers were highly demanded as a takeout food when a large share of the population stayed home. Industry revenue recovered in 2021 as the government eased COVID-19 restrictions. Consequently, industry revenue is anticipated to grow at a CAGR of 4.9% to $176.8 billion over the past five years, including an expected 0.1% decline in 2023 alone.

The industry comprises chain, independent and franchised restaurants that primarily sell burgers but may also sell alcoholic and other beverages. Burger restaurant formats range from fast food to full-service.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.