December 2, 2021

Fast Casual Restaurants Market size to grow by USD 150.10 Bn | Market Research Insights highlight demand for innovation and customization in food menus as key driver | Technavio

NEW YORK, Nov. 22, 2021 /PRNewswire/ — “Fast Casual Restaurants Market by Cuisine Type and Geography – Forecast and Analysis…

NEW YORK, Nov. 22, 2021 /PRNewswire/ — “Fast Casual Restaurants Market by Cuisine Type and Geography – Forecast and Analysis Report 2020-2024” has been added to Technavio’s offering. The report features Chipotle Mexican Grill Inc., Firehouse Restaurant Group Inc., and Noodles & Co. among others as dominant players in the market.

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).

View FREE Sample: to know additional highlights and key points on various market segments and their impact in coming years. 

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. 

Customize Your Report 

Don’t miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.  

We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now! 

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.

About Us: 

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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: media@technavio.com

Website: www.technavio.com/

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/fast-casual-restaurants-market-size-to-grow-by-usd-150-10-bn–market-research-insights-highlight-demand-for-innovation-and-customization-in-food-menus-as-key-driver–technavio-301428319.html

SOURCE Technavio