
The U.S. foodservice industry is expected to reach $898 billion in sales this year, returning to pre-COVID pandemic trajectory, the National Restaurant Association said in its 2022 State of the Restaurant Industry report released Tuesday.
The association released a mid-year report in August last year that projected sales to reach $789 billion in 2021, up nearly 20% from 2020. The increase was bolstered by increased consumer confidence, pent-up desire and people returning to work.
2022 sales will be better than 2021, even though the last half of the past year saw consumers retrench, a trend that spilled into January.
The foodservice industry workforce is projected to grow by 400,000 jobs, for total industry employment of 14.9 million by the end of 2022.
- More than half of surveyed restaurant operators said it would be a year or more before businesses conditions return to normal. They also expect food, labor and occupancy costs to remain elevated and continue to impact profit margins in 2022.
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