Market Trends

🍽 Bret Thorn, Senior Food & Beverage Editor for Nation’s Restaurant News since 1999 and Restaurant Hospitality since 2016, previously wrote for The New York Sun (2005-2008), Asia Times, and Manager magazine in Thailand. He graduated magna cum laude from Tufts University in 1990 and studied at Le Cordon Bleu in 1986. Thorn won the 2006 Jesse H. Neal Award, was president of IFEC in 2005, and was inducted into the Disciples d’Escoffier in 2014. Contact: [email protected]

🍜 Sesame balls, a Chinese snack with rice flour dough and sweet fillings, have increased in popularity on restaurant menus by 36% in the past four years. Datassential's Menucast predicts a further 25% growth over the next four years, as American consumers develop a taste for Asian-inspired treats like mochi and boba. The snack's appeal lies in its crispy, sesame-coated exterior and chewy interior.

🍕 Boka Restaurant Group, founded in 2002, is launching Valley Goat in Sunnyvale, California, at the Treehouse Hotel Silicon Valley, marking its first Northern California venture. The new 250-seat restaurant, headed by famed chefs Stephanie Izard—a "Top Chef" and "Iron Chef" winner—will open early 2025, offering lunch, dinner, and later brunch. The menu will feature shareable dishes highlighting local produce and globally-inspired flavors, alongside a bar with seasonal cocktails, local brewery and winery selections, and an extensive wine list.

🌱 Furikake, a Japanese seasoning blend containing seaweed, sesame seeds, and dried fish, is witnessing a 36% growth on restaurant menus over four years, with a forecasted rise of 52% in the upcoming four years, according to Datassential’s Menucast. The seasoning, which appeals to Asian consumers and those interested in global flavors, is increasingly used by chefs in the United States to enhance various dishes due to its umami-rich taste and minimal cost implications for restaurants.

🏆 The Gold Service Scholarship 2025 semi-finals featured high-caliber candidates from the hospitality industry, including renowned venues like Trinity and Core by Clare Smyth. The quarter finals occurred in October at London's Langham and Hotel Café Royal, where 50 semi-finalists were chosen for the next round on November 29, 2024, at Rosewood London. The final takes place on January 13, 2025, at Corinthia London, with the award ceremony on February 10 at Claridge’s. The scholarship began in 2012.

💸 Inflationary pressures persist with 9 out of 10 foodservice categories experiencing month-on-month price increases. CEO of Prestige Purchasing, Shaun Allen, emphasizes the need for proactive and adaptable procurement strategies due to market volatility. Vegetables, particularly potatoes, remain highly inflated, while the largest month-on-month increase is in the oils and fats category, influenced by rising butter prices. The sugar, jam, syrups, chocolate, and vegetable categories show the highest year-on-year inflation, with ongoing pressure on revenue and margins expected through 2024 and into the next year, according to Reuben Pullan, senior insight consultant at CGA by NIQ.

📝 In October, the U.S. national unemployment rate held steady at 4.1%, consistent since May 2024 and higher than the pre-pandemic rate of 3.5%. The restaurant and bar industries saw a slowdown in job growth, adding just 3,700 jobs with an employment rate of 3.7%. This was a stark contrast to September's initially reported 70,000 jobs, which was later adjusted to 39,300. Overall, August and September's job growth was revised down by nearly 65,000 jobs. Despite these adjustments, the National Restaurant Association indicates the employment trend remains positive, with industry employment above the pre-pandemic peak of 12.3 million jobs. Full-service restaurants are still 4% below February 2020 employment levels, while limited-service and snack/non-alcoholic beverage sectors are 3% and 17% above, respectively.

🏨 STAAH, a hospitality service provider, offers weekly hotel industry quizzes to keep hoteliers informed and sharp on the latest trends. The latest quiz touches on luxury hotel brands and essential hotel software. Participation is encouraged to test knowledge and stay updated, with previous quizzes available for those who missed out.

🎉 Denise Tran, CEO of San Francisco-based Bun Mee, founded the five-unit Vietnamese sandwich concept in 2011. Bun Mee announced national franchising and opened its fifth location in San Francisco's Marina District after traditional stores grossed over $1 million annually since 2021. Its two airport units at San Francisco International Airport reported over $4.6 million and $3.6 million in 2023 sales. With a trimmed menu and upgraded equipment, Bun Mee aims for 5 new franchises in the first year and 50 units in five years, focusing first on Colorado expansion.

🍷 Demerara sugar, with its rich, caramel-like flavor, is now on 3.1% of U.S. restaurant menus, marking a 31% increase over four years, according to Datassential. This sugar is popular among vegetarian, vegan, and Asian consumers and is mostly used in independent and fine-dining establishments. It's favored for its minimal refinement and natural qualities, finding its way into cocktails, coffee drinks, and baked goods for added crunch and sweetness.