Fast Casual Restaurants Market: Drivers and Challenges
Factors such as the demand for innovation and customization in food menus will drive the growth of the fast casual restaurants market. However, intense competition from quick service restaurants will challenge the market growth during the forecast period.
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Fast Casual Restaurants Market: Segmentation Analysis
By cuisine type, the fast casual restaurants market has been segmented into North American, Italian, Mexican, and others. The North American segment will have significant market share growth during the forecast period. According to industry research, 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. Therefore, 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. Millennials are the major consumers of sandwiches in the US as they seek fast, fresh, and convenient meal options.
By geography, the fast casual restaurants market has been segmented by North America, APAC, Europe, South America, and MEA. 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. Customization is a key element that numerous consumers in North America look for, especially millennials.
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Fast Casual Restaurants Market: Vendor Analysis
The fast casual restaurants market is fragmented, and the vendors are deploying various growth strategies to compete in the market. The key offerings of some of the vendors are listed below:
- Chipotle Mexican Grill Inc. - The company operates a chain of fast casual restaurants, such as Pizzeria Locale, a fast casual pizza restaurant that has two restaurants in Denver, Colorado.
- Firehouse Restaurant Group Inc. - The company offers a wide variety of food products, such as subs, salads, sides, and others, through its franchises, located in more than a thousand locations across the US and Canada.
- Noodles & Co. - The company offers lunch and dinner menu, which includes high quality dishes, such as noodles, pasta, soups, salads, and appetizers.
- Panda Restaurant Group Inc. - The company offers a wide variety of Chinese cuisines through its brands PANDA EXPRESS, PANDA INN, and HIBACHI SAN.
- Potbelly Corp. - The company offers sandwiches, signature salads, hand-dipped shakes, and other fresh menu items through its franchises, located globally.
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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 |
USD 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 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. |
Table of Contents
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
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SOURCE Technavio
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