The Food and Beverage industry is a significant contributor within regional economies and to the U.S. economy. It is a stable industry in terms of employment and labor income due to the consistent demand for food. In addition, it employs 14.6 million workers and accounts for about 13% of all U.S. service employment. It is an industry that has developed important innovations over time, quickly responding to the changes in consumer demand and meeting the needs of 330 million American consumers.
The food sector accounts for about 5% of gross domestic product (GDP), 10% of total U.S. employment, and 10% of U.S. consumers’ disposable personal income (DPI). It has total sales of $1.4 trillion, of which $164 billion in value added is generated by the Food and Beverage industry alone.
Entering a new decade, the Food and Beverage industry continues to change. From flexible menu types of delivery and takeout playing a huge part in the industry, customers are becoming more demanding. With that said, the public is requesting several new types of dining experiences, including customization, dietary options, global foods, sustainability, ethical sourcing, value, and convenience. The solution is for businesses in the industry to adapt and always innovate together with the trends positioned by the consumers.
The main competitors of Saladworks in the market include Just Salad, Subway, Panera Bread, and so on.