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The US - fast casual restaurants market is projected to reach a value of USD 149.96 billion in 2028 CAGR of 12.09% between 2023 and 2028.
The report includes a comprehensive outlook on the US Fast Casual Restaurants Market, offering forecasts for the industry segmented by Channel, which comprises dine-in and takeaway. Additionally, it categorizes Product into North American, Italian, Mexican, and Others, and covers Application, including franchised, standalone. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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The demand for innovation and customization in food menus is notably driving market growth. The demand for new flavors, combination food infused with bold flavors, and premium alternatives is on the rise in the US. Customers with constantly evolving tastes demand exotic cuisine. This demand for innovative and exotic-flavored fast food is most prominent among millennials. The millennials seek options that allow customization of food based on their calorie intake per day.
Moreover, the main impetus for customization is growing awareness of nutritious and low-calorie diets. Consumers also customize meals to suit their needs irrespective of the time of day or what is on the menu. Getting the exact flavor helps fast-casual restaurant players increase the probability of repeat customer visits. Hence, the demand for innovation and customization of food menus will drive the growth of the US fast-casual restaurant market.
The rise in popularity of chef-driven fast-casual restaurant franchises is a challenge that affects market growth. Chef-driven fast-casual restaurants are on the rise, as more and more professionally trained chefs, as well as celebrity chefs, are now focusing on leveraging the rising demand for fast-casual formats and franchising. Furthermore, professionally trained chefs offer more innovative menus and proprietary recipes to customize and innovate product offerings. Chef-driven restaurants also put efforts into bringing a seasoned chain management team for continuous growth and development.
In addition, several established chefs are entering the US - fast casual restaurants market. For example, in 2018, chef Mark Ladner of Del Posto joined the fast-casual pasta restaurant Pasta Flyer, which opened its first franchise in New York City location in Greenwich Village. Thus, owing to the growing popularity of chef-driven fast-casual restaurant franchises, the market is expected to grow significantly during the forecast period.
The need to adhere to stringent regulations and guidelines is a challenge that affects market growth. Stringent rules and regulations about access, entry of new players, residual management issues, and food quality and safety. The USDA and the Food and Drug Administration (FDA) in the US play crucial roles in regulating the fast-casual restaurant industry. The FDA has state-based retail and food service codes and regulations, which are responsible for conducting the quality check of food products offered by restaurants.
Moreover, menu classification has also prompted restaurants to increase the nutritional quality of their menu items. Complying with these regulations is an uphill task for fast-casual restaurants, which is hindering the entry of new players and creating roadblocks for market players to introduce innovative products in their food menu, which, in turn, impeding the growth of the US fast casual restaurants market during the forecast period.
The dine-in segment is estimated to witness significant growth 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. The restaurant may have a self-service beverage station and may also offer table service for refills or additional items.
Fast Casual Restaurants Market in US
By Channel
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The dine-in segment was the largest segment and was valued at USD 44.71 billion in 2018. Dine-in mode in fast-casual restaurants has been growing in recent years as more consumers are looking for a balance between the convenience of fast food and the experience of dining in a casual restaurant. The growth of the fast-casual concept has also been driven by the increasing demand for healthier menu options and a more sustainable approach to food service. Thus, such developments in dine-in are expected to contribute to the growth of the US - fast casual restaurants market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The fast casual restaurants market in US report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Fast Casual Restaurants Market In US Scope |
|
Report Coverage |
Details |
Page number |
142 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.09% |
Market growth 2024-2028 |
USD 65.2 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
11.02 |
Regional analysis |
US |
Performing market contribution |
North America at 100% |
Key countries |
US and North America |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Amergent Hospitality Group Inc., BurgerFi International Inc., Chipotle Mexican Grill Inc., Dominos Pizza Inc., Five Guys Enterprises LLC, Godfathers Pizza Inc., Inspire Brands Inc., Focus Brands 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. |
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 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. |
We can help! Our analysts can customize this market research report to meet your requirements.
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 Market Segmentation by Application
9 Customer Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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