Fast casual restaurants market size to grow by USD 186.27 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio

NEW YORK, Jan. 16, 2023 /PRNewswire/ -- The global fast casual restaurants market size is estimated to increase by USD 186.27 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 12.41% during the forecast period, according to Technavio - Request a sample report

Vendor offerings -

• Chipotle Mexican Grill Inc. – The company offers burritos, burrito bowls, quesadillas, salads, tacos, sides, and drinks.
• Firehouse Restaurant Group Inc. - The company offers subs, salads, and drinks. It also provides catering services.
• Godfathers Pizza Inc. - The company offers pizzas in sizes such as mini, individual, small, medium, large, and jumbo.
• Shake Shack Inc. - The company offers various types of snacks such as hot dogs, burgers, noodles, pizzas, and pasta.
• For details on vendors and their offerings – Buy the report!

Vendor landscape –

The global fast casual restaurants market is fragmented, with the presence of several vendors. The vendors are deploying growth strategies such as business expansion and promotional campaigns on social media platforms to compete in the market.

A few prominent vendors that offer fast casual restaurants in the market are Chipotle Mexican Grill Inc., DICKEYS BARBECUE RESTAURANTS Inc., Erbert and Gerberts Sandwich Shop, EXKi SA, Famous Brands Ltd., Firehouse Restaurant Group Inc., Five Guys Enterprises LLC, Godfathers Pizza Inc., LYKE Kitchen, McAlisters Franchisor SPV LLC, MOD Super Fast Pizza LLC, Noodles and Co., Panda Restaurant Group Inc., PORTILLOS Inc., Potbelly Corp., Shake Shack Inc., Smashburger Servicing LLC, The Wendy's Co., Wingstop Inc., and YUM Brands Inc. and others.
Global fast casual restaurants market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity

Segment overview

Technavio has segmented the market based on product (North American, Italian, Mexican, and others). 

• The North American segment will grow at a significant rate during the forecast period. About one-third of the population of children and teenagers in the US have sandwiches, burgers, or other quick-serve foods regularly. However, many fast-casual restaurants in the US have started to include healthy meal options to cater to the daily nutritional requirements of consumers. These factors will drive the growth of the segment during the forecast period.

Geography overview

Based on geography, the global fast casual restaurants market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fast casual restaurants market.

• North America will account for 44% of the market's growth during the forecast period. The US and Canada are the key countries for the fast-casual restaurants market in the region. Moreover, market growth in this region will be faster than the growth of the market in South America and MEA. The high demand for fast foods and constant innovations and redesigning of food menus will drive the fast-casual restaurants market growth in North America during the forecast period.

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Leading drivers - The demand for innovation and customization in food menus is driving the growth of the market. Many customers prefer new and bold flavors. They also prefer the option to customize their menu choices. Thus, several market players are offering innovative and customizable food menus to attract customers. Therefore, with the growing demand for innovative and customizable foods, the market is expected to grow significantly during the forecast period.

Key trends – The rise in popularity of chef-driven fast-casual restaurant franchises is a key trend in the market. Chef-driven fast-casual restaurants have professionally trained chefs or celebrity chefs. Therefore, the popularity of chef-driven fast-casual restaurant franchises is expected to increase during the forecast period. This, in turn, will support the market's growth.

Major challenges - The intense competition from quick-service restaurants is challenging the market growth. The average meal price at quick-service restaurants is less when compared to fast-casual restaurants. Moreover, quick-service restaurants are focusing on lowering order and payment time durations. Consumers in developing economies of APAC, such as China and India, prefer on-the-go food owing to hectic lifestyles and the growing need for convenience. Hence, the rising inclination toward quick-service restaurants may hinder the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find some insights from a sample report!

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the fast casual restaurants market between 2022 and 2026
• Precise estimation of the size of the fast casual restaurants market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the fast casual restaurants market across North America, APAC, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of fast casual restaurants market vendors

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Related Reports:

The fast food market is estimated to grow at a CAGR of 3.28% between 2022 and 2027. The size of the market is forecasted to increase by USD 123.43 billion. This report extensively covers market segmentation by product (non-vegetarian fast food and vegetarian fast food), service type (eat-in, take away, home delivery, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

The quick service restaurants market size is expected to increase by USD 107.69 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.62%. This report extensively covers segmentation by service (eat-in service, takeaway service, drive-thru service, and home delivery service) and geography (North America, APAC, Europe, South America, and the Middle East and Africa).

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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 Global Market Characteristics 

Exhibit 04: Executive Summary – Chart on Market by Geography 

Exhibit 05: Executive Summary – Chart on Market Segmentation by Product

Exhibit 06: Executive Summary – Chart on Incremental Growth 

Exhibit 07: Executive Summary – Data Table on Incremental Growth 

Exhibit 08: Executive Summary – Chart on Vendor Market Positioning 

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market 

Exhibit 10: Market Characteristics 

3 Market Sizing 

3.1 Market definition 

Exhibit 11: Offerings of vendors included in the market definition 

3.2 Market segment analysis 

Exhibit 12: Market segments 

3.3 Market size 2021 

3.4 Market outlook: Forecast for 2021-2026 

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)

Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion) 

Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)

Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%) 

4 Five Forces Analysis 

4.1 Five forces summary 

Exhibit 17: Five forces analysis - Comparison between2021 and 2026 

4.2 Bargaining power of buyers 

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026 

4.3 Bargaining power of suppliers 

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026 

4.4 Threat of new entrants 

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes 

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026 

4.6 Threat of rivalry 

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026 

4.7 Market condition 

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026 

5 Market Segmentation by Product 

5.1 Market segments 

Exhibit 24: Chart on Product - Market share 2021-2026 (%)

Exhibit 25: Data Table on Product - Market share 2021-2026 (%) 

5.2 Comparison by Product 

Exhibit 26: Chart on Comparison by Product

Exhibit 27: Data Table on Comparison by Product 

5.3 North American  - Market size and forecast 2021-2026 

Exhibit 28: Chart on North American  - Market size and forecast 2021-2026 ($ billion)

Exhibit 29: Data Table on North American  - Market size and forecast 2021-2026 ($ billion) 

Exhibit 30: Chart on North American  - Year-over-year growth 2021-2026 (%)

Exhibit 31: Data Table on North American  - Year-over-year growth 2021-2026 (%) 

5.4 Italian - Market size and forecast 2021-2026 

Exhibit 32: Chart on Italian - Market size and forecast 2021-2026 ($ billion)

Exhibit 33: Data Table on Italian - Market size and forecast 2021-2026 ($ billion) 

Exhibit 34: Chart on Italian - Year-over-year growth 2021-2026 (%)

Exhibit 35: Data Table on Italian - Year-over-year growth 2021-2026 (%) 

5.5 Mexican - Market size and forecast 2021-2026 

Exhibit 36: Chart on Mexican - Market size and forecast 2021-2026 ($ billion)

Exhibit 37: Data Table on Mexican - Market size and forecast 2021-2026 ($ billion) 

Exhibit 38: Chart on Mexican - Year-over-year growth 2021-2026 (%) 

Exhibit 39: Data Table on Mexican - Year-over-year growth 2021-2026 (%) 

5.6 Others - Market size and forecast 2021-2026 

Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ billion)

Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ billion) 

Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%) 

Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%) 

5.7 Market opportunity by Product 

Exhibit 44: Market opportunity by Product ($ billion) 

6 Customer Landscape 

6.1 Customer landscape overview 

Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria 

7 Geographic Landscape 

7.1 Geographic segmentation 

Exhibit 46: Chart on Market share by geography 2021-2026 (%) 

Exhibit 47: Data Table on Market share by geography 2021-2026 (%) 

7.2 Geographic comparison 

Exhibit 48: Chart on Geographic comparison 

Exhibit 49: Data Table on Geographic comparison 

7.3 North America - Market size and forecast 2021-2026 

Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ billion) 

Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ billion)

Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)

Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%) 

7.4 APAC - Market size and forecast 2021-2026 

Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ billion)

Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ billion) 

Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%) 

Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%) 

7.5 Europe - Market size and forecast 2021-2026 

Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ billion)

Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)

Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%) 

Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026 

Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ billion) 

Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ billion)

Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)

Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026 

Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion) 

Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion) 

Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%) 

Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%) 

7.8 US - Market size and forecast 2021-2026 

Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ billion) 

Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ billion)

Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%) 

Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%) 

7.9 China - Market size and forecast 2021-2026 

Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ billion)

Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ billion) 

Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)

Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%) 

7.10 UK - Market size and forecast 2021-2026 

Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ billion) 

Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ billion)

Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%) 

Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%) 

7.11 Germany - Market size and forecast 2021-2026 

Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ billion)

Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)  7

Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%) 

Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%) 

7.12 Canada - Market size and forecast 2021-2026 

Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ billion)

Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ billion) 

Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%) 

Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography 

Exhibit 90: Market opportunity by geography ($ billion) 

8 Drivers, Challenges, and Trends

8.1 Market drivers 

8.2 Market challenges

8.3 Impact of drivers and challenges 

Exhibit 91: Impact of drivers and challenges in 2021 and 2026 

8.4 Market trends 

9 Vendor Landscape

9.1 Overview 

9.2 Vendor landscape

Exhibit 92: Overview on Criticality of inputs and Factors of differentiation 

9.3 Landscape disruption 

Exhibit 93: Overview on factors of disruption

9.4 Industry risks 

Exhibit 94: Impact of key risks on business 

10 Vendor Analysis 

10.1 Vendors covered

Exhibit 95: Vendors covered 

10.2 Market positioning of vendors 

Exhibit 96: Matrix on vendor position and classification 

10.3 Chipotle Mexican Grill Inc. 

Exhibit 97: Chipotle Mexican Grill Inc. - Overview 

Exhibit 98: Chipotle Mexican Grill Inc. - Product / Service 

Exhibit 99: Chipotle Mexican Grill Inc. - Key news 

Exhibit 100: Chipotle Mexican Grill Inc. - Key offerings 

10.4 Firehouse Restaurant Group Inc. 

Exhibit 101: Firehouse Restaurant Group Inc. - Overview 

Exhibit 102: Firehouse Restaurant Group Inc. - Product / Service 

Exhibit 103: Firehouse Restaurant Group Inc. - Key offerings 

10.5 Godfathers Pizza Inc. 

Exhibit 104: Godfathers Pizza Inc. - Overview 

Exhibit 105: Godfathers Pizza Inc. - Product / Service 

Exhibit 106: Godfathers Pizza Inc. - Key offerings 

10.6 McAlisters Franchisor SPV LLC

Exhibit 107: McAlisters Franchisor SPV LLC - Overview 

Exhibit 108: McAlisters Franchisor SPV LLC - Product / Service 

Exhibit 109: McAlisters Franchisor SPV LLC - Key offerings 

10.7 Noodles and Co.

Exhibit 110: Noodles and Co. - Overview 

Exhibit 111: Noodles and Co. - Product / Service 

Exhibit 112: Noodles and Co. - Key offerings 

10.8 Panda Restaurant Group Inc. 

Exhibit 113: Panda Restaurant Group Inc. - Overview 

Exhibit 114: Panda Restaurant Group Inc. - Product / Service 

Exhibit 115: Panda Restaurant Group Inc. - Key offerings 

10.9 Potbelly Corp. 

Exhibit 116: Potbelly Corp. - Overview 

Exhibit 117: Potbelly Corp. - Product / Service 

Exhibit 118: Potbelly Corp. - Key offerings 

10.10 Shake Shack Inc. 

Exhibit 119: Shake Shack Inc. - Overview 

Exhibit 120: Shake Shack Inc. - Product / Service 

Exhibit 121: Shake Shack Inc. - Key offerings 

10.11 The Wendy's Co. 

Exhibit 122: The Wendy's Co. - Overview 

Exhibit 123: The Wendy's Co. - Business segments

Exhibit 124: The Wendy's Co. - Key offerings 

Exhibit 125: The Wendy's Co. - Segment focus 

10.12 YUM Brands Inc. 

Exhibit 126: YUM Brands Inc. - Overview 

Exhibit 127: YUM Brands Inc. - Business segments

Exhibit 128: YUM Brands Inc. - Key news 

Exhibit 129: YUM Brands Inc. - Key offerings 

Exhibit 130: YUM Brands Inc. - Segment focus 

11 Appendix 

11.1 Scope of the report 

11.2 Inclusions and exclusions checklist 

Exhibit 131: Inclusions checklist 

Exhibit 132: Exclusions checklist 

11.3 Currency conversion rates for US$ 

Exhibit 133: Currency conversion rates for US$ 

11.4 Research methodology 

Exhibit 134: Research methodology 

Exhibit 135: Validation techniques employed for market sizing 

Exhibit 136: Information sources 

11.5 List of abbreviations 

Exhibit 137: List of abbreviations 

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