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Premium Steak Restaurants in the US - Industry Market Research Report

Publisher IBISWorld
Published Dec 30, 2024
Length 80 Pages
SKU # IBSS19493667

Description

Premium Steak Restaurants in the US - Industry Market Research Report


Premium Steak Restaurants in the US

The Premium Steak Restaurants industry has fared relatively well most of the past five years, following similarly positive trends in the domestic economy. The industry is characterized by high-end dining establishments, with average customer checks totaling $50.00 or more. As a result, growth in per capita disposable income, consumer confidence and spending and the prevalence of households earning more than $100,000 in annual income has benefited the industry, enabling consumers to opt for premium steak establishments for dining experiences. However, the industry suffered significant revenue losses in 2020 due to the nonessential business closure order from the COVID-19 outbreak. Fortunately, the restrictions were eased in 2021 as the coronavirus vaccine has been rolled out, enabling premium steak restaurants to reopen for dine-in services. Although industry revenue recovered, rising inflation pressured industry revenue as customers reduced discretionary expenses. Over the five years to 2023, IBISWorld expects industry revenue to fall an annualized 1.6% to $6.7 billion, including a decline of 0.5% in 2023 alone.

The industry includes chain, franchised and single-location restaurants that provide premium steak to consumers. Customers order and are served by waiters or waitresses while seated, and they pay after eating. These establishments may provide food services in combination with selling alcoholic and other beverages.

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.

Table of Contents

80 Pages
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

Pricing

Currency Rates
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