The increase in health consciousness has pushed the demand for fast-casual restaurants. A fast-casual restaurant is a combination of quick service and casual-dining restaurants and it is a fresh and rapidly growing concept, especially in the developed markets. They are characterized by fast food cuisines with high quality of food, minimal or no table service, and focused and customizable menu.
Technavio’s market research analysts predict that the Global Fast Casual Restaurant Market will grow rapidly during the forecast period from 2017 to 2021 at a CAGR of nearly 11 percent. Evolving consumer tastes and desire for healthy food, growing demand for customization and changing customer demographics are the major driving forces behind the growth of fast-casual restaurant market. So far, the US is leading among the other diverse geographic market segments with a market share of nearly 75 percent.
Fresh over stale fast-casual goes healthy
Fast service and high quality food are the two essential ingredients for the restaurants in the fast-casual segment. Fast-casual restaurants are designed to offer high-quality food along with fast service alongside clean, modern environment and social media interaction.
Within the fast-casual segment, there are subsections of restaurants that offer customizable food ordering, which helps the customers to pick their own choice of ingredients including flavors and toppings. This concept is growing fast these days owing to increasing customer preferences for the customized meals that suit their needs.
There is a significant rise in the number of restaurants offering a gluten-free menu owing to the growing awareness of celiac disease- it is a serious genetic autoimmune disorder where the ingestion of gluten leads to damage in the small intestine. Thus, it is a significant driving factor in the global fast-casual restaurant market.
Health and wellbeing are the most concerned factors for the consumers especially, the new-age consumers whilst selecting the food service choices, with the growing interest towards high quality, healthy and freshly prepared food comprising of healthier ingredients. Hence, this aspect leads to higher demand for the fast-casual premium restaurants.
The improved living standards and higher disposable income owing to increasing urbanization along with unhealthy eating habits has led to deteriorating health conditions and lifestyle disorders. This situation has created concern among consumers and they are looking for healthy food alternatives.
Prominent vendors in global fast-casual restaurants market
- Chipotle Mexican Grill
- Firehouse Restaurant Group (Firehouse Subs)
- Five Guys Holdings
- Panda Restaurant Group (Panda Express)
- Panera Bread
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We have completed a comprehensive research study on Global Fast Casual Restaurants market based on in-depth market analysis. Our report contains the detailed insights of industry including key drivers, emerging trends, as well as the challenges that the food service industry is currently experiencing.
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