Staking claim: Fast recovering high-end customers will boost industry revenue growth

The Premium Steak Restaurants industry has benefited from a rise in demand over the past five years. Although consumer spending primarily drives industry sales, steakhouses have long been a client-friendly dining option for business travelers as well. As the economy improves and corporate profit rises, many businesses will increase their travel expenditure, indirectly improving this industry's sales. Over the next five years, industry revenue will continue to grow, albeit at a slower rate. Demand for steak restaurants will increase as consumers with greater incomes continue to recover from the recession and businesses expand their spending on eating out. Furthermore, the price of beef is expected to continue falling, contributing to widening profit margins among industry consumers...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Companies may have to adjust business models in response to increased competition and changing consumer preferences
  • The shift in consumer eating habits has been a boon to the industry
  • Healthy options and responsibly produced beef will become greater priorities for consumers
  • Industry Report - Industry Investment Chapter

    The industry's capital intensity level is determined by the ratio of capital to labor costs. This implies that in 2017 for every dollar spent on wages, about $0.07 is spent to use and replace buildings and equipment. As a result, this industry is deemed to have a moderate level of capitol intensity. The Premium Steak Restaurant industry's capital intensity has remained consistent over the past five years. Some restaurants have invested in new equipment and restaurant fittings, however, due to the low growth environment of the industry many owners have held back on capital investments...purchase to read more.

    Additional Insights for the Premium Steak Restaurants Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Premium Steak Restaurants Industry are

  • Access to multi-skilled and flexible workforce
  • Attractive product presentation
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Consumer spending and Consumer Confidence Index in the Premium Steak Restaurants industry impact industry performance..

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    What's in this report

    What is the Premium Steak Restaurants Industry?

    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.

    Industry Products
  • Classic steak restaurants
  • Steak and seafood restaurants
  • Premium Brazilian steak restaurants
  • Other premium steak restaurants
  • Industry Activities
  • Independent (non-chain or franchised) operated premium steak restaurants
  • Franchised premium steak restaurants
  • Chain fine dining steak restaurant operation (directly owned and operated by owners)
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Consumer Confidence Index
  • Households earning more than $100,000
  • Corporate profit
  • Healthy eating index

  • Current Performance
  • Changing consumer preferences
  • Shifting costs
  • Chart: Revenue Growth

  • Industry Outlook
  • Consumers and businesses return
  • Beef prices
  • Table: Premium Steak Restaurants Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Premium Steak Restaurants Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Beef & Pork Wholesaling
  • Beef Cattle Production
  • Beer Wholesaling
  • Dairy Wholesaling
  • Egg & Poultry Wholesaling
  • Fish & Seafood Wholesaling
  • Fruit & Vegetable Wholesaling
  • Wine & Spirits Wholesaling

  • Products & Services
  • Classic steak restaurants
  • Steak and seafood restaurants
  • Other premium steak restaurants
  • Premium Brazilian steak restaurants
  • Chart: Premium Steak Restaurants Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Households with incomes above $75,000
  • Corporate-expense diners
  • Households with incomes from $50,000 to $75,000
  • Households with incomes below $50,000
  • Chart: Major Market Segmentation for the Premium Steak Restaurants Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Chart: Cost Structure Benchmarking – Sector vs Premium Steak Restaurants

  • Basis of Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Premium Steak Restaurants Industry

  • Industry Globalization
    Ruth's Hospitality Group, Inc., Darden Restaurants Inc.,
  • Table: Ruth's Hospitality Group, Inc. - financial performance
  • Table: Darden Restaurants Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Premium Steak Restaurants Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Premium Steak Restaurants Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Consumer Spending (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Traditional Brazilian-style steakhouse
  • Full-Service Restaurant
  • A restaurant that provides guests with sit-down meals that include table service by waitstaff.
  • Single-Location Restaurant
  • Usually an owner-operated restaurant with significant and direct input by the owners into the business.
  • Usda Prime
  • Highest quality beef on the market and limited supply. Currently, about 2.9% of carcasses grade as Prime.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Premium Steak Restaurants provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Premium Steak Restaurants:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Premium Steak Restaurants market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Premium Steak Restaurants, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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