The Buffet Restaurants industry has had a mixed performance over the five years to 2019. Industry revenue has increased during the period along with rising consumer spending and per capita disposable income, which has incentivized consumers to eat out more often. However, most buffets operate on an all-you-can-eat model, in which customers pay a fixed fee and are then able to consume as much food as they would like, which encourages overeating. Both of these general aspects of buffet restaurants are unappealing to consumers that are dieting or are otherwise conscious of their food consumption habits. Rising health consciousness and changing consumer preferences are anticipated to continue to reduce demand for the Buffet Restaurants industry over the five years to 2024. However, countervailing trends and industry innovations are forecast to stifle this decline in upcoming years. Industry operators are anticipated to increase their focus on making their restaurants more appealing to changing consumer preferences by increasing their offerings of low-fat foods and using social media and other innovative marketing techniques to increase their exposure and bring in new customers.
This industry comprises chain and franchised restaurants with buffet-style services where patrons pay, serve themselves and eat within the restaurant. These establishments may also sell alcoholic and other beverages. This industry does not include buffet-style food service contractors, which are included in IBISWorld reports 72231 and 72232.
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.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook