The steakhouse industry in the U.S. is seeing a strong comeback, defying trends that have challenged casual dining establishments. According to market research from IBISWorld, revenue for premium steakhouses has grown by 5.4% annually since 2020, reaching an estimated $8.3 billion in 2025. The number of upscale steakhouses has also surged to 4,263 nationwide, showing Americans’ ongoing appetite for high-quality red meat.
Analysts credit this growth to increased consumer spending and a rise in high-earning households. However, the gains haven’t been across the board. Major chains like Outback Steakhouse have closed underperforming locations, while others such as Logan’s Roadhouse and Charlie Brown’s have shrunk considerably or filed for bankruptcy following the pandemic’s impact.
Despite these setbacks, many independent steakhouses are finding ways to flourish. Olivia Hurst, executive chef at Cattle Shed Wine & Steak Bar in Georgia, credits their success to customers who value an elevated dining experience, especially when paired with wine. Her restaurant blends premium wine service with affordable happy hour deals, a mix she calls the “barbell strategy,” which keeps diners returning without compromising quality.
Meanwhile, in New York, chef Sungchul Shim of Gui Steakhouse is tapping into a blend of tradition and innovation. With dishes like wagyu kimchi fried rice and USDA prime beef, he says guests are looking for meals that are both comforting and unexpected. Shim believes that modern diners want more than just food—they want a full experience that feels curated and intentional.
As delivery and home cooking continue to compete for attention, steakhouses that offer a memorable experience, consistency, and a touch of creativity are standing out. For many Americans, the steakhouse remains a symbol of value, indulgence, and a reason to dine out again.
