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This question is about restaurant industry statistics.
Is the restaurant industry growing or shrinking?
The restaurant industry is slowly growing back to what it once was. The restaurant industry has undoubtedly been hit hard by the COVID-19 pandemic - perhaps harder than any other type of business.
In 2020, restaurant sales dropped by 24%, or $205 billion. Additionally, 10% of all restaurants in the United States have closed their doors for good.
With this being said, the restaurant industry is growing in other ways. Restaurant technology and online ordering are becoming increasingly popular in recent years, especially under the influence of the pandemic.
By June of 2020, the presence of digital ordering had already increased by 135%. By 2025, the value of online food ordering is expected to grow to over $220 billion.
While COVID-19 has damaged the in-person restaurant industry, other facets of the business, like online ordering, have flourished.
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