Fast Casual Restaurants Market size in the US to grow by USD 55.4 billion from 2022 to 2027, Driven by the demand for innovation and customization in food menus - Technavio

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Mar 31, 2023, 10:30 ET

NEW YORK, March 31, 2023 /PRNewswire/ -- The size of the fast-casual restaurants market in the US is estimated to grow by USD 55.4 billion from 2022 to 2027, progressing at a CAGR of 11.56% during the forecast period, according to Technavio Research. This study identifies the increasing focus on the digitalization of services as one of the prime reasons driving the fast-casual restaurant market growth in the US during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Discover some insights on market size historic period (2017 to 2021) and forecast market data (2023-2027) before buying the full report - Request a sample report   

Technavio has announced its latest market research report titled US Fast Casual Restaurants Market 2023-2027

Fast Casual Restaurants Market in the US 2023-2027: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The fast-casual restaurants market in the US report covers the following areas:

Fast Casual Restaurants Market in the US 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Amergent Hospitality Group Inc., BurgerFi International Inc., Chipotle Mexican Grill Inc., Five Guys Enterprises LLC, Focus Brands LLC, Godfathers Pizza Inc., Jimmy Johns Franchisor SPV LLC, McAlisters Franchisor SPV LLC, MOD Super Fast Pizza LLC, Noodles and Co., Panda Restaurant Group Inc., Panera Bread Co., PORTILLOS Inc., Qdoba Restaurant Corp., Restaurant Brands International Inc., Shake Shack Inc., The Wendys Co., Uncle Maddios Pizza, Wingstop Inc., and YUM Brands Inc. are some of the major market participants.

Frequently Asked Questions:

What are the major trends in the market?
The growing focus on the digitalization of services is a factor supporting the US fast-casual restaurants' market share growth.
Who are the top players in the market?z
Amergent Hospitality Group Inc., BurgerFi International Inc., Chipotle Mexican Grill Inc. are some of the top players in the market.
What are the key market drivers and challenges?
The demand for innovation and customization in food menus is driving the market growth significantly, although factors such as intense competition from quick-service restaurants may impede the market growth.

Fast Casual Restaurants Market in the US 2023-2027: Segmentation

The fast casual restaurants market in the US is segmented based on channel (dine-in and takeaway) and product (North American, Italian, Mexican, and Others).

The market share growth of the dine-in segment will be significant for the fast-casual restaurants market growth during the forecast period. Many consumers are looking for a balance between the convenience of fast food and the experience of dining in a casual restaurant. Dine-in operations at fast casual restaurants in the US usually involve customers ordering and paying at a counter or kiosk. Various fast-casual restaurants also have outdoor seating or patio areas and are known for their fast service, casual atmosphere, and healthier menu options compared with traditional fast-food restaurants. Some restaurants may have a self-service beverage station and offer table service for refills or additional items. These advances in dine-in are expected to contribute to the growth of the fast-casual restaurant market in the US during the forecast period.

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Fast Casual Restaurants Market in the US 2023-2027: Challenge

The intense competition from quick-service restaurants is a major challenge for the fast-casual restaurant market in the US during the forecast period. Options such as dining in, drive-thru ordering, delivery services, and quick-service restaurants (QSRs) offer the fastest dining experience. A fast-casual restaurant is considered to be faster than a traditional one but slower than a QSR. Unlike fast-casual restaurants, QSRs generally offer the same menu options with seasonal updates, and the average meal price of food served at QSRs is comparatively lower than that of fast-casual restaurants. QSRs are highly preferred for on-the-go food, as they generally take less time for food delivery. They also collaborate with third-party delivery service providers to increase their market reach. Hence, the services provided by QSRs are restricting the growth of the fast casual restaurants market in the US.

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Fast Casual Restaurants Market in the US 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist the fast-casual restaurants growth market in the US during the next five years
Estimation of the fast-casual restaurants market size in the US and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the fast-casual restaurants market across the US
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of the fast-casual restaurants market vendors in the US

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Fast Casual Restaurants Market Scope in the US
Report Coverage	Details
Historic period	2017-2021
Base Year	2022
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 11.56%
Market growth 2023-2027	USD 55.4 billion
Market structure	Fragmented
YoY growth 2022-2023 (%)	10.66
Regional analysis	US
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Amergent Hospitality Group Inc., BurgerFi International Inc., Chipotle Mexican Grill Inc., Five Guys Enterprises LLC, Focus Brands LLC, Godfathers Pizza Inc., Jimmy Johns Franchisor SPV LLC, McAlisters Franchisor SPV LLC, MOD Super Fast Pizza LLC, Noodles and Co., Panda Restaurant Group Inc., Panera Bread Co., PORTILLOS Inc., Qdoba Restaurant Corp., Restaurant Brands International Inc., Shake Shack Inc., The Wendys Co., Uncle Maddios Pizza, Wingstop Inc., and YUM Brands Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Country Market Characteristics
Exhibit 04: Executive Summary – Chart on Market Segmentation by Channel
Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 07: Parent market
Exhibit 08: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 09: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 10: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 11: Chart on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 12: Data Table on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 13: Chart on US: Year-over-year growth 2022-2027 (%)
Exhibit 14: Data Table on US: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Fast casual restaurants market in US 2017 - 2021

Exhibit 15: Historic Market Size – Data Table on Fast casual restaurants market in US 2017 - 2021 ($ billion)

4.2 Channel Segment Analysis 2017 - 2021

Exhibit 16: Historic Market Size – Channel Segment 2017 - 2021 ($ billion)

4.3 Product Segment Analysis 2017 - 2021

Exhibit 17: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Channel

6.1 Market segments

Exhibit 25: Chart on Channel - Market share 2022-2027 (%)
Exhibit 26: Data Table on Channel - Market share 2022-2027 (%)

6.2 Comparison by Channel

Exhibit 27: Chart on Comparison by Channel
Exhibit 28: Data Table on Comparison by Channel

6.3 Dine-in - Market size and forecast 2022-2027

Exhibit 29: Chart on Dine-in - Market size and forecast 2022-2027 ($ billion)
Exhibit 30: Data Table on Dine-in - Market size and forecast 2022-2027 ($ billion)
Exhibit 31: Chart on Dine-in - Year-over-year growth 2022-2027 (%)
Exhibit 32: Data Table on Dine-in - Year-over-year growth 2022-2027 (%)

6.4 Takeaway - Market size and forecast 2022-2027

Exhibit 33: Chart on Takeaway - Market size and forecast 2022-2027 ($ billion)
Exhibit 34: Data Table on Takeaway - Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Chart on Takeaway - Year-over-year growth 2022-2027 (%)
Exhibit 36: Data Table on Takeaway - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Channel

Exhibit 37: Market opportunity by Channel ($ billion)

7 Market Segmentation by Product

7.1 Market segments

Exhibit 38: Chart on Product - Market share 2022-2027 (%)
Exhibit 39: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product

Exhibit 40: Chart on Comparison by Product
Exhibit 41: Data Table on Comparison by Product

7.3 North American - Market size and forecast 2022-2027

Exhibit 42: Chart on North American - Market size and forecast 2022-2027 ($ billion)
Exhibit 43: Data Table on North American - Market size and forecast 2022-2027 ($ billion)
Exhibit 44: Chart on North American - Year-over-year growth 2022-2027 (%)
Exhibit 45: Data Table on North American - Year-over-year growth 2022-2027 (%)

7.4 Italian - Market size and forecast 2022-2027

Exhibit 46: Chart on Italian - Market size and forecast 2022-2027 ($ billion)
Exhibit 47: Data Table on Italian - Market size and forecast 2022-2027 ($ billion)
Exhibit 48: Chart on Italian - Year-over-year growth 2022-2027 (%)
Exhibit 49: Data Table on Italian - Year-over-year growth 2022-2027 (%)

7.5 Mexican - Market size and forecast 2022-2027

Exhibit 50: Chart on Mexican - Market size and forecast 2022-2027 ($ billion)
Exhibit 51: Data Table on Mexican - Market size and forecast 2022-2027 ($ billion)
Exhibit 52: Chart on Mexican - Year-over-year growth 2022-2027 (%)
Exhibit 53: Data Table on Mexican - Year-over-year growth 2022-2027 (%)

7.6 Others - Market size and forecast 2022-2027

Exhibit 54: Chart on Others - Market size and forecast 2022-2027 ($ billion)
Exhibit 55: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
Exhibit 56: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 57: Data Table on Others - Year-over-year growth 2022-2027 (%)

7.7 Market opportunity by Product

Exhibit 58: Market opportunity by Product ($ billion)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

Exhibit 60: Impact of drivers and challenges in 2022 and 2027

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

Exhibit 61: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption

Exhibit 62: Overview on factors of disruption

10.4 Industry risks

Exhibit 63: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered

Exhibit 64: Vendors covered

11.2 Market positioning of vendors

Exhibit 65: Matrix on vendor position and classification

11.3 Amergent Hospitality Group Inc.

Exhibit 66: Amergent Hospitality Group Inc. - Overview
Exhibit 67: Amergent Hospitality Group Inc. - Product / Service
Exhibit 68: Amergent Hospitality Group Inc. - Key offerings

11.4 BurgerFi International Inc.

Exhibit 69: BurgerFi International Inc. - Overview
Exhibit 70: BurgerFi International Inc. - Business segments
Exhibit 71: BurgerFi International Inc. - Key offerings
Exhibit 72: BurgerFi International Inc. - Segment focus

11.5 Five Guys Enterprises LLC

Exhibit 73: Five Guys Enterprises LLC - Overview
Exhibit 74: Five Guys Enterprises LLC - Product / Service
Exhibit 75: Five Guys Enterprises LLC - Key offerings

11.6 Focus Brands LLC

Exhibit 76: Focus Brands LLC - Overview
Exhibit 77: Focus Brands LLC - Product / Service
Exhibit 78: Focus Brands LLC - Key offerings

11.7 Godfathers Pizza Inc.

Exhibit 79: Godfathers Pizza Inc. - Overview
Exhibit 80: Godfathers Pizza Inc. - Product / Service
Exhibit 81: Godfathers Pizza Inc. - Key offerings

11.8 Jimmy Johns Franchisor SPV LLC

Exhibit 82: Jimmy Johns Franchisor SPV LLC - Overview
Exhibit 83: Jimmy Johns Franchisor SPV LLC - Product / Service
Exhibit 84: Jimmy Johns Franchisor SPV LLC - Key offerings

11.9 MOD Super Fast Pizza LLC

Exhibit 85: MOD Super Fast Pizza LLC - Overview
Exhibit 86: MOD Super Fast Pizza LLC - Product / Service
Exhibit 87: MOD Super Fast Pizza LLC - Key offerings

11.10 Noodles and Co.

Exhibit 88: Noodles and Co. - Overview
Exhibit 89: Noodles and Co. - Product / Service
Exhibit 90: Noodles and Co. - Key offerings

11.11 Panda Restaurant Group Inc.

Exhibit 91: Panda Restaurant Group Inc. - Overview
Exhibit 92: Panda Restaurant Group Inc. - Product / Service
Exhibit 93: Panda Restaurant Group Inc. - Key offerings

11.12 Panera Bread Co.

Exhibit 94: Panera Bread Co. - Overview
Exhibit 95: Panera Bread Co. - Product / Service
Exhibit 96: Panera Bread Co. - Key offerings

11.13 PORTILLOS Inc.

Exhibit 97: PORTILLOS Inc. - Overview
Exhibit 98: PORTILLOS Inc. - Product / Service
Exhibit 99: PORTILLOS Inc. - Key offerings

11.14 Qdoba Restaurant Corp.

Exhibit 100: Qdoba Restaurant Corp. - Overview
Exhibit 101: Qdoba Restaurant Corp. - Product / Service
Exhibit 102: Qdoba Restaurant Corp. - Key offerings

11.15 Restaurant Brands International Inc.

Exhibit 103: Restaurant Brands International Inc. - Overview
Exhibit 104: Restaurant Brands International Inc. - Business segments
Exhibit 105: Restaurant Brands International Inc. - Key news
Exhibit 106: Restaurant Brands International Inc. - Key offerings
Exhibit 107: Restaurant Brands International Inc. - Segment focus

11.16 Shake Shack Inc.

Exhibit 108: Shake Shack Inc. - Overview
Exhibit 109: Shake Shack Inc. - Product / Service
Exhibit 110: Shake Shack Inc. - Key offerings

11.17 Uncle Maddios Pizza

Exhibit 111: Uncle Maddios Pizza - Overview
Exhibit 112: Uncle Maddios Pizza - Product / Service
Exhibit 113: Uncle Maddios Pizza - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

Exhibit 114: Inclusions checklist
Exhibit 115: Exclusions checklist

12.3 Currency conversion rates for US$

Exhibit 116: Currency conversion rates for US$

12.4 Research methodology

Exhibit 117: Research methodology
Exhibit 118: Validation techniques employed for market sizing
Exhibit 119: Information sources

12.5 List of abbreviations

Exhibit 120: List of abbreviations

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