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.”