Overview

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

The Premium Steak Restaurants industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

REPORT SNAPSHOT

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
  • As the higher class recovers strongly, purchases of high end goods increase

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    Industry Analysis & Industry Trends

    This industry experienced volatile revenue performance over the five years to 2011. Strong economic growth prior to the recession resulted in thriving revenue and an expanding industry as consumers flocked to restaurants to purchase premium dinners. During the recession, however, the number of customers dwindled as their incomes declined and corporate spending subsided. As the economy recovers, consumers are returning to restaurants, such as premium steakhouses, to purchase high-end meals...

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    Industry Report - Industry SWOT Analysis Chapter

    This industry is currently entering a long-term slow-growth phase, which indicates that it is approaching market saturation. The limits on the number of higher-income households, urban density and growth within a city or town that can support a number of competing high-end restaurants are being reached. Competition for prime operating sites is also significant. Over the 10 years to 2021, industry value added (which measures an industry's contribution to GDP) is expected to grow at an annualized rate of 2.1%, compared with an annualized 2.1% GDP growth over the same period.

    This industry is also experiencing significant market and consumer changes, with increasing demand for healthy foods and locally grown ingredients. Sig..

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    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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    Industry Products

    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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    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

  • Products & Markets
    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
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWages
  • 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
    Major Companies
    Ruth's Hospitality Group, Inc.Darden Restaurants Inc.
  • Table: Ruth's Hospitality Group, Inc. - financial performance
  • Table: Darden Restaurants Inc. - financial performance

  • Operating Conditions
    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
    Key Statistics
    Table: Industry Data for the Premium Steak Restaurants Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Consumer Spending (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Churrascaria
  • 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.
  • Why buy this report?

    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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