Dublin, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The "Italian Restaurants in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
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.
Italian cuisine, a perennial favorite among consumers, has powered the Italian restaurant industry to a healthy annualized growth rate of 3.5% over the five years to 2024. Favorable economic conditions and a climb in disposable income have assisted this recovery, particularly following a challenging year in 2020, where social distancing measures hit capacity. It's predicted that in 2024 alone, the industry will see a revenue growth of 1.7%, reaching $94.8 billion.
Trends and Insights
- Inflation's hit to disposable income has dented Italian restaurants' demand. The escalating cost of living has strained disposable income, resulting in slower demand for Italian cuisine.
- Italian eateries are flourishing amid growing food establishment demands. They've adapted to consumer tastes via a diverse range of offerings, paving the way for continuous expansion.
- Staying close to cities can be advantageous for Italian restaurants. Cities often have a higher cost of living, usually leading to higher consumer income and a greater demand for such establishments.
- Rising inflation boosts internal rivalry due to consumer price consciousness. Increased inflation prompts consumers to select affordable alternatives, escalating competition among businesses.
Macroeconomic changes and supply chain disruptions shape the industry
Italian restaurants, often categorized as luxury dining, witness a downtrend in demand during periods of economic uncertainty and decreased disposable income. Recent disturbances in the supply chain, along with rising inflation, have directly increased food costs, compelling restaurants to escalate their pricing structure, which in turn constrains revenue growth.
Economic surge propels optimism in the Italian restaurant industry
The drawn-out conflicts, especially the war in Ukraine, have raised supply chain complications, increasing the instability in input prices. The expected resolution of these issues may stabilize these costs, an imperative component to the potential success of Italian restaurants. Once the effects of the conflicts are mitigated, a more predictable and controlled supply chain can be achieved.
Biggest companies in the Italian Restaurants in the US:
- Olive Garden Italian Kitchen:
- Revenue ($m) 2024: 4,971.1
- Profit ($m) 2024: 121.3
- Profit Margin (%) 2024: 2.4
- Papa John's International, Inc.:
- Revenue ($m) 2024: 813.6
- Profit ($m) 2024: 19.9
- Profit Margin (%) 2024: 2.4
- Dominos Pizza Inc.:
- Revenue ($m) 2024: 517.7
- Profit ($m) 2024: 54.4
- Profit Margin (%) 2024: 10.5
Key Topics Covered:
ABOUT THIS INDUSTRY
- Industry Definition
- Main Activities
- Similar Industries
- Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
- Executive Summary
- Key External Drivers
- Current Performance
- Industry Outlook
- Industry Life Cycle
PRODUCTS & MARKETS
- Supply Chain
- Products & Services
- Demand Determinants
- Major Markets
- International Trade
- Business Locations
COMPETITIVE LANDSCAPE
- Market Share Concentration
- Key Success Factors
- Cost Structure Benchmarks
- Basis of Competition
- Barriers to Entry
- Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
- Capital Intensity
- Technology & Systems
- Revenue Volatility
- Regulation & Policy
- Industry Assistance
KEY STATISTICS
- Industry Data
- Annual Change
- Key Ratios
JARGON & GLOSSARY
For more information about this report visit https://www.researchandmarkets.com/r/7cdr1x
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