NEW YORK, March 9, 2022 /PRNewswire/ -- The fast casual restaurants market is estimated to grow by USD 150.10 bn from 2019 to 2024. In addition, the growth momentum of the market is expected to progress at a CAGR of 12% during the forecast period, according to Technavio.
Find additional highlights related to the fast casual restaurants market. Download Free Sample Report
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.
Get lifetime access to our Technavio Insights. Subscribe now to our most popular "Lite Plan" billed annually at USD 3000. View 3 reports monthly and Download 3 Reports Annually!
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.
Know more about the contribution of each segment of the market. Download Free Sample Report
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.
Fast Casual Restaurants Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 12%
Market growth 2020-2024
USD 150.10 billion
YoY growth (%)
North America, APAC, Europe, South America, and MEA
Performing market contribution
North America at 44%
Key consumer countries
US, China, UK, Germany, and Canada
Leading companies, competitive strategies, consumer engagement scope
Chipotle Mexican Grill Inc., Firehouse Restaurant Group Inc., Noodles & Co., Panda Restaurant Group Inc., Potbelly Corp., Shake Shack Inc., and YUM! Brands Inc.
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,
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
Value chain analysis
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 Segmentation by Cuisine Type
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
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 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.
Shake Shack Inc.
The Wendy's Co.
YUM! Brands Inc.
Scope of the report
Currency conversion rates for US$
List of abbreviations
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 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/fast-casual-restaurants-market-to-grow-by-usd-150-10-bn--technavio-301498826.html