Fast Casual Restaurants Market to grow by USD 150.10 bn | Technavio

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.

Technavio has announced its latest market research report titled Global Fast Casual Restaurants Market 2020-2024
Technavio has announced its latest market research report titled Global Fast Casual Restaurants Market 2020-2024

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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

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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