The market witnessed a YOY growth rate of 10.71% in 2020 and will progress at a CAGR of over 12% during the forecast period. The report segments the market by cuisine type (North American, Italian, Mexican, and others) and Geography (North America, APAC, Europe, South America, and MEA).
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Vendor Insights
- The global fast casual restaurants market is fragmented due to the presence of several global and regional players.
- Vendors are adopting various growth strategies to compete in the market. Some of the strategies include mergers and acquisitions and introduction of new and innovative products.
- For instance, in October 2019, Potbelly Corp. announced a nationwide partnership with Grubhub, a leading online and mobile food-ordering and delivery marketplace of the US, to support its delivery service expansion in more than 450 locations.
- In January 2020, Chipotle Mexican Grill Inc. launched Supergreens salad mix, which is made of hand-cut romaine, antioxidant-rich baby kale, and crisp baby spinach.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
- Chipotle Mexican Grill Inc.
- Firehouse Restaurant Group Inc.
- Noodles & Co.
- Panda Restaurant Group Inc.
- Potbelly Corp.
- Shake Shack Inc.
- YUM! Brands Inc.
Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Free Sample Report.
Geographical Market Analysis
- North America is the largest market for fast casual restaurants, holding 44% of the global market share.
- The market in Canada is observing constant innovations and redesigning of the food menus across fast casual restaurants as consumers are becoming more aware of the benefits of consuming natural and fresh food ingredients.
- This is encouraging vendors in the region to focus on adding healthy and gluten-free food options, including vegetarian and vegan foods to their food menus.
- Countries such as the US, China, the UK, Germany, and Canada are expected to emerge as prominent markets for fast casual restaurants during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/fast-casual-restaurants-market-industry-analysis
Key Market Drivers & Challenges:
Key driver:
- The market is driven by the rising demand for innovation and customization in food menus.
- In addition, factors such as increase in demand for gluten-free dining and the introduction of healthy meals in food menus will have a positive impact on the growth of the market during the forecast period.
Key challenge:
- The increasing competition from quick service restaurants will be a major challenge for the growth of vendors.
- Also, the need to adhere to stringent regulations and guidelines and fluctuations in food commodities prices will reduce the growth opportunity.
View free sample for highlights on market Trends & Challenges affecting the fast casual restaurants market.
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Fast casual restaurants Market Value Chain Analysis
It includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovations
Related Reports:
Quick Service Restaurants Market by Service and Geography - Forecast and Analysis 2021-2025
Fast Food Market by Product and Geography - Forecast and Analysis 2021-2025
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 over 12% |
Market growth 2019-2024 |
USD 150.10 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.71% in 2020 |
Regional analysis |
North America, Europe, APAC, 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. |
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