U.S. restaurant and foodservice revenues will total $990 billion in 2021, representing annual increases of 3.9 percent from $819 billion in 2016, per forecast data from The Freedonia Group.

Population growth will add to the customer base for these businesses, and rising disposable income levels will support on-premise consumption of beverages and foods, as well as spending on higher-priced food offerings, The Freedonia Group reports. In addition, the Freedonia Group projects the number of restaurants and foodservice establishments will rise during the forecast period to meet increasing demand. However, the growing availability of prepared foods in grocery stores and other retail outlets will restrain faster gains.

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