Fast casual restaurants market size to grow at a CAGR of 12.41% from 2021 to 2026, Demand for innovation and customization in food menus to drive growth – Technavio

Date:

NEW YORK, May 12, 2023 /PRNewswire/ — The “Fast Casual Restaurants Market – Competitive Analysis, Impact of COVID-19, Five Force Analysis” report has been added to Technavio’s offering. The fast casual restaurants market is estimated to grow by USD 186.27 billion from 2021 to 2026 at a CAGR of 12.41%. North America will account for 44% of the market’s growth during the forecast period. The US and Canada are the key contributors to the fast-casual restaurants market in North America. Moreover, market growth in this region will be faster than the growth of the market in South America and MEA. Therefore, 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 over the forecast period. For comprehensive details on the market size and forecast period (2022-2026) – View a sample report

Vendor landscape
The fast casual restaurants market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning, technological advances, and the price of the products. The report provides a full list of key vendors, their strategies, and the latest developments – Buy Now

Market dynamics

Major drivers & challenges

The market is driven by factors such as the demand for innovation and customization in food menus. Customers prefer a combination of food infused with new and bold flavors. The main growing importance of diet is increasing the demand for customized food menus. Thus, several market players are offering innovative and customizable food menus to attract customers. With the growing demand for innovative and customizable foods, the global fast-casual restaurants market is expected to grow significantly during the forecast period.

Intense competition from quick-service restaurants is challenging market growth. The average meal price of food served at quick-service restaurants is comparatively lower than those served at fast-casual restaurants. Many quick-service restaurants focus on lowering order time and payment durations. Due to the rise in consumer purchasing power, people often prefer on-the-go food owing to the hectic lifestyle and the growing preference for convenience. Hence, the rising inclination of consumers toward quick-service restaurants may limit the market growth during the forecast period.

Key trends – The rise in popularity of chef-driven fast-casual restaurant franchises is driving market growth. Professionally trained chefs as well as celebrity chefs are focusing on leveraging this growth. Some of the popular Chef-driven fast-casual restaurants in North America are The Chickery and Fransmart, Slapfish, Bobby Burger Palace, and Carla Hall Southern Kitchen. Therefore, the growing popularity of chef-driven fast-casual restaurant franchises is expected to drive the growth of the market during the forecast period

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View a sample report

Company profiles

The fast casual restaurants market report includes information on the product launches, sustainability, and prospects of leading vendors, including 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 Wendys Co., Wingstop Inc., and YUM Brands Inc.

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Competitive analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, among others.

 Market segmentation

  • By product, the market is classified into North American, Italian, Mexican, and others 
  • By geography, the market is classified into North America, APAC, Europe, South America, and Middle East and Africa.

Related Reports

The fast fashion market is expected to grow at a CAGR of 8.55%, and the market share is expected to grow by USD 49.13 billion during the forecast period 2021 to 2026. Furthermore, this report extensively market segmentation by gender (female and male), distribution channel (offline and online), and geography (North America, Europe, APAC, the Middle East and Africa, and South America).

The US fast-casual restaurants market is estimated to grow at a CAGR of 11.56% between 2022 and 2027. The size of the market is forecasted to increase by USD 55.40 billion . Furthermore, this report extensively covers the fast fashion market segmentation by gender (female and male), distribution channel (offline and online), and geography (North America, Europe, APAC, the Middle East and Africa, and South America).

Fast Casual Restaurants Market Scope

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 12.41%

Market growth 2022-2026

USD 186.27 billion

Market structure

Fragmented

YoY growth 2021-2022 (%)

11.39

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

North America at 44%

Key countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

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 Wendys Co., Wingstop 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 recovery analysis 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

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) 

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 Wendys Co. 

Exhibit 122: The Wendys Co. – Overview 

Exhibit 123: The Wendys Co. – Business segments 

Exhibit 124: The Wendys Co. – Key offerings 

Exhibit 125: The Wendys 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 

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Fast casual restaurants market size to grow at a CAGR of 12.41% from 2021 to 2026, Demand for innovation and customization in food menus to drive growth – Technavio

Originally published at https://www.prnewswire.com/news-releases/fast-casual-restaurants-market-size-to-grow-at-a-cagr-of-12-41-from-2021-to-2026–demand-for-innovation-and-customization-in-food-menus-to-drive-growth—technavio-301822457.html
Images courtesy of https://pixabay.com

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