The potential growth difference for the fast casual restaurants market between 2019 and 2024 is USD 150.10 Billion, as per the latest market analysis report by Technavio. The report also identifies the market to witness an accelerating growth momentum at a CAGR of 12% during the forecast period.
To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
- Market Driver: The rising demand for innovation and customization in food menus is one of the key drivers expected to influence the market positively during the forecast period. The demand for innovative and exotic flavored food is more prominent among millennials. In addition, they are looking for options to customize their food based on their calorie intake per day. The main impetus for customization is the growing importance of diet — whether it is a medical condition or nourishment confinement, a food allergy, or a weight-reduction plan.
- Market Challenge: The intense competition from quick-service restaurants will be a major challenge for the fast casual restaurants market during the forecast period. Quick service restaurants and fast-casual restaurants have millennials as their target customer segment who prefer healthier food prepared from fresh food ingredients with less processed food and fewer artificial ingredients as possible. In addition, the average meal price of food served at quick-service restaurants is comparatively lower than those served at fast-casual restaurants.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report!
Key Market Segment Highlights:
The fast casual restaurants market report is segmented by Type (North American, Italian, Mexican, and others) and Geography (North America, APAC, Europe, South America, and MEA).
- The North America type segment held the largest market share in 2019. The segment will continue to account for the largest share throughout the forecast period. Fast-casual restaurants in the US include many healthy meal options in their menu to cater to the daily nutritional requirements of children and teenagers. Around one-third of children and teenagers in the US have sandwiches, burgers, or other quick-serve foods on a daily basis. About one-fifth of them obtain more than half of their daily diet requirements from these foods
- North America will be the leading region with 44% of the market's growth during the forecast period. 44% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for fast casual restaurants in North America. Market growth in this region will be faster than the growth of the market in the South American and MEA regions. The constant innovations and redesigning of the food menu will facilitate the fast casual restaurants market growth in North America over the forecast period.
View our sample report for additional insights into the contribution of all the segments, and regional opportunities.
Some Companies Mentioned·
- Chipotle Mexican Grill Inc.
- Firehouse Restaurant Group Inc.
- Noodles & Co.
- Panda Restaurant Group Inc.
- Potbelly Corp.
- Shake Shack Inc.
- YUM! Brands Inc.
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
Related Reports:
Specialty Coffee Shops Market by Type and Geographic Landscape - Forecast and Analysis 2022-2026
Fast Casual Restaurants Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12% |
Market growth 2020-2024 |
$ 150.10 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.71 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
North America at 44% |
Key consumer countries |
US, China, UK, Germany, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Chipotle Mexican Grill Inc., Firehouse Restaurant Group Inc., Noodles & Co., Panda Restaurant Group Inc., Potbelly Corp., Shake Shack 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 future consumer dynamics, market condition analysis for 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. |
Key Topics Covered:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Cuisine Type
- Market segments
- Comparison by Cuisine Type
- North American - Market size and forecast 2019-2024
- Italian - Market size and forecast 2019-2024
- Mexican - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by Cuisine type
Customer Landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Chipotle Mexican Grill Inc.
- Firehouse Restaurant Group Inc.
- Godfather's Pizza Inc.
- McAlister's Franchisor SPV LLC
- Noodles & Co.
- Panda Restaurant Group Inc.
- Potbelly Corp.
- Shake Shack Inc.
- The Wendy's Co.
- YUM! Brands Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article