Restaurant Buildings Global Market Report 2024

The restaurant buildings market size has grown strongly in recent years. It will grow from $238.87 billion in 2023 to $253.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historical period can be attributed to factors such as consumer dining trends, urbanization and population density, economic growth and disposable income, culinary diversity and trends, and the influence of the tourism and hospitality industry.

The restaurant buildings market size is expected to see strong growth in the next few years. It will grow to $324.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to health and wellness trends, sustainability practices, technology integration, adaptation to changing consumer habits, and urban redevelopment. Major trends expected in the forecast period include flexible seating arrangements, health and safety measures, incorporation of biophilic design elements, the creation of culinary experience spaces, and a focus on community-oriented design in restaurant buildings.

The restaurant buildings market is poised for growth, driven by an increasing demand for restaurants. This expansion is attributed to the rising popularity of family food outings, convenience foods, ready meals, and cold cuts. The dining preferences of millennials and the global surge in working populations have led to a surge in restaurant visits, contributing to the global expansion of the restaurant building sector. A case in point is the UK, where, according to the Office for National Statistics report, the total number of restaurants increased from 95,060 in 2021 to 101,785 in 2022, underscoring the growing demand for restaurants and fueling the growth of the restaurant buildings market.

The restaurant buildings market is further expected to benefit from the increasing demand within malls. Malls, as large enclosed shopping centers, provide a diverse range of shopping, dining, and entertainment options under one roof. Restaurants within malls experience heightened foot traffic, leverage synergy with other retailers, enhance convenience and accessibility, tap into a diverse customer base, and boost revenue potential and brand exposure. Notably, a report from Connected Real Estate Magazine highlighted a 2.1% increase in monthly visits to outdoor shopping malls in July 2021, emphasizing the role of malls in driving the growth of the restaurant buildings market.

Innovations in building construction technologies represent a significant trend in the restaurant buildings market. Leading companies are actively engaged in developing cutting-edge technologies to fortify their positions in the market. For instance, Luyten 3D, an Australia-based commercial building and construction company specializing in 3D printing technology, introduced the Platypus X12 concrete printer in October 2022. This AI-powered mobile concrete 3D printer, one of the world's largest, seamlessly transforms into a 12 x 6 mobile crane within 20 minutes, facilitating the efficient printing of large-scale structures. The printer incorporates artificial intelligence based on optical and acoustic inputs, contributing to data-driven concrete printing in the restaurant buildings market.

Major players in the restaurant buildings market are concentrating on innovative products such as global next-gen restaurants to drive market revenues. In August 2023, The Wendy's Company, a US-based fast-food restaurant chain, launched global next-gen restaurants. This design incorporates performance data from layout simulations and insights from cross-functional teams, franchisees, and crew members to ensure an enhanced experience for everyone involved. The design standard of Global Next Gen provides increased kitchen output capacity by over 50% for restaurants with the highest customer demand. Additionally, it significantly enhances digital capacity, streamlining the experience for digital and delivery customers.

In July 2021, HGC Construction, a US-based construction company, acquired Luken Construction for an undisclosed amount. This acquisition expands HGC’s self-perform capabilities, delivering immediate value to its clients. Luken Construction, specializing in commercial and restaurant buildings construction, further strengthens HGC's position in the construction market.

Major companies operating in the restaurant buildings market report are Construction One Inc., DESCCO Design & Construction Inc., Stovall Construction Inc., Tech 24 Construction Inc., Hilbers Inc., Hencken & Gaines Inc., RCA Contractors Inc., Shingobee Builders Inc., The Beam Team Inc., GCM Construction Inc., Prodigy Construction Company, BnK Construction LLC, Woodbine Construction Company, Power Construction Inc., China Pacific Construction Group Co. Ltd., AECOM Inc., Balfour Beatty plc, Bouygues Construction SA, China State Construction Engineering Corporation Limited, Fluor Corporation, Hochtief AG, Kier Group plc, Laing O'Rourke plc, Lendlease Group, Skanska AB, Turner Construction Company, Wates Group Limited, Whiting-Turner Contracting Company, Clark Construction Group LLC, Gilbane Building Company.

Asia-Pacific was the largest region in the restaurant buildings market in 2023. The regions covered in the restaurant buildings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the restaurant buildings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of restaurant buildings include limited-service restaurants, cafeterias, buffets, full-service restaurants, and ghost restaurants. Limited-service restaurants are establishments where the interaction between patrons and staff is minimal and concludes once the patron receives their food. The equipment used for restaurant building constructions includes earthmoving equipment, material handling equipment, heavy construction vehicles, and other relevant machinery. These constructions encompass activities such as new construction, reconstruction, and renovation of restaurant spaces.

The restaurant buildings market research report is one of a series of new reports that provides restaurant buildings market statistics, including restaurant buildings industry global market size, regional shares, competitors with a restaurant buildings market share, detailed restaurant buildings market segments, market trends, and opportunities, and any further data you may need to thrive in the restaurant buildings industry. This restaurant buildings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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