US Fast Casual Restaurants Market is to grow by USD 55.4 billion from 2022 to 2027, Presence of companies like Amergent Hospitality Group Inc., BurgerFi International Inc. and Chipotle Mexican Grill Inc., and more makes the market fragmented- Technavio
NEW YORK, Sept. 29, 2023 /PRNewswire/ -- The fast casual restaurants market in US is estimated to grow by USD 55.4 billion from 2022 to 2027, growing at a CAGR of 11.56%. The fast-casual restaurant market in US is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer fast casual restaurants market in US are Amergent Hospitality Group Inc., BurgerFi International Inc., Chipotle Mexican Grill Inc., Five Guys Enterprises LLC, Focus Brands LLC, Godfathers Pizza Inc., Jimmy Johns Franchisor SPV LLC, McAlisters Franchisor SPV LLC, MOD Super Fast Pizza LLC, Noodles and Co., Panda Restaurant Group Inc., Panera Bread Co., PORTILLOS Inc., Qdoba Restaurant Corp., Restaurant Brands International Inc., Shake Shack Inc., The Wendys Co., Uncle Maddios Pizza, Wingstop Inc., and YUM Brands Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download a FREE Sample before buying
Company Offering:
Amergent Hospitality Group Inc. - The company owns, operates, and franchises fast casual and full-service restaurant brands such as Little Big Burger, Hooters, and BGR among others.
Chipotle Mexican Grill Inc.: - The company operates fast casual restaurants through its subsidiary Pizzeria Locale.
Five Guys Enterprises LLC - The company operates a fast-casual restaurant chain offering sandwiches, hot dogs, and French fries among others.
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Key Driver
The demand for innovation and customization in food menus is a key factor driving market growth. Demand for new flavors, bold flavor combinations, and premium alternatives is growing in the US. A group of customers with ever-changing tastes demand mouth-watering dishes. The demand for this innovative fast food with novel flavors is greatest among Millennials. Furthermore, millennials are looking for options to personalize food based on their daily calorie intake. The main driver for personalization is the growing awareness of nutrient-dense, low-calorie diets. In addition, consumers also personalize meals to their needs, regardless of the time of day or menu content. Getting the flavor right helps fast-casual food companies increase the likelihood of repeat visits. Hence, these factors are expected to drive market growth during the forecast period.
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Key Trend - Increasing focus on digitalization of services
Major Challenges - Intense competition from quick-service restaurants
Market Segmentation
By Product, the market is classified into dine-in and takeaway. The market share growth of the dine-in segment will be significant during the forecast period. Dine-in operations at fast casual restaurants in the US typically involve customers ordering and paying at a counter or kiosk and then being seated at a table to enjoy their meal. These restaurants are famous for serving quickly, offering a casual atmosphere and the option to order food in many cases it's very healthy compared with traditional Fast-Food outlets. Restaurant dining in fast-casual restaurants has increased over the past years, as a growing number of consumers are seeking to balance convenience from fast food with an authentic restaurant experience. In addition, many fast-casual restaurants are also designed to create a more welcoming and comfortable dining experience with features like comfortable seating, free Wi-Fi, and modern décor. The increasing demand for healthy menu choices, as well as the shift from a more unsustainable approach to food service, have also contributed to the growth of fast casual concepts. Hence, these factors are expected to drive market growth during the forecast period.
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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