U.S. Fast Casual Restaurant Market
The U.S. fast casual restaurant market was valued at $50.6 billion in 2022 and is projected to reach $121.3 billion by 2032, growing at a CAGR of 9% from 2023 to 2032.
A fast casual restaurant combines the convenience of quick-service food with the quality and experience of casual dining. The key highlights of fast casual restaurants include instant service, use of fresh ingredients, and customizable menu options. In addition, these restaurants gain advantages over other dining establishments owing to their broad demographic appeal and market adaptability.
Increase in demand for quick, good-quality meals among individuals that aligns with their busy lifestyles has been a key driver of the U.S. fast casual restaurant market. In addition, the availability of multiple options and customizations on the basis of dietary requirements of individuals has enhanced their preference for fast casual restaurants, which has augmented the development of the market. Shift toward sustainability is becoming a prominent trend among fast causal restaurants in the U.S.
as several restaurants are making local ingredient sourcing, waste reduction, and use of eco-friendly utensils & cutlery as their key highlights to garner a large base of customers. Furthermore, to align with the sustainability trend, restaurant owners are focusing on transparency by sharing stories of their workflow and supply chains with their diners.
However, increase in industry saturation and competition owing to the advent of multiple food service segments such as fast-food chains, cloud kitchens, and meal kit providers is hampering the development of the U.S. fast casual restaurant market. Moreover, rise in the prices of raw materials and ingredients in the U.S. impacts the profitability of fast casual restaurant owners, thereby restraining the market growth notably. According to CNN Business - a financial news website - grocery prices in the U.S. in 2024 were up by 27% in comparison to February 2020.
Furthermore, the latest Consumer Price Index report states that grocery prices in November 2024 were 1.6% higher in the U.S. as compared to November 2023. On the contrary, several fast casual restaurant owners are focusing on expanding their delivery services and establishing ghost kitchens, which is anticipated to present remunerative opportunities for market growth.
Segment Review
The U.S. fast casual restaurant market is segmented into food type, mode of operation, and nature. On the basis of food type, the market is divided into burger/sandwich, pizza/pasta, Asian/Latin American food, chicken, and others. According to mode of operation, it is bifurcated into dine-in and takeaway. By nature, it is classified into franchised and standalone.Key Findings
On the basis of food type, the burger/sandwich segment held the highest market share in 2023.According to mode of operation, the dine-in segment dominated the market in 2023.
By nature, the franchised segment was the highest shareholder in 2023.
Competition Analysis
The major players in the U.S. fast casual restaurant market include Chipotle Mexican Grill, Panera Bread, Shake Shack, Blaze Pizza, MOD Pizza, Sweetgreen, Noodles & Company, Five Guys, Qdoba Mexican Eats, and Zoe's Kitchen. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.Additional benefits you will get with this purchase are:
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Key Market Segments
By Food Type
- Burger/Sandwich
- Pizza/Pasta
- Asian/Latin American Food
- Chicken
- Others
By Mode Of Operation
- Dine-in
- Takeaway
By Nature
- Franchised
- Standalone
Key Market Players
- Chipotle Mexican Grill
- Panera Bread
- Shake Shack
- Blaze Pizza
- MOD Pizza
- Sweetgreen
- Noodles & Company
- Five Guys
- Qdoba Mexican Eats
- Zoe's Kitchen
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: U.S. FAST CASUAL RESTAURANT MARKET, BY FOOD TYPE
CHAPTER 5: U.S. FAST CASUAL RESTAURANT MARKET, BY MODE OF OPERATION
CHAPTER 6: U.S. FAST CASUAL RESTAURANT MARKET, BY NATURE
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
LIST OF TABLES
LIST OF FIGURES
Companies Mentioned
- Chipotle Mexican Grill
- Panera Bread
- Shake Shack
- Blaze Pizza
- MOD Pizza
- Sweetgreen
- Noodles & Company
- Five Guys
- Qdoba Mexican Eats
- Zoe's Kitchen
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 70 |
| Published | November 2024 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 50.6 billion |
| Forecasted Market Value ( USD | $ 121.3 billion |
| Compound Annual Growth Rate | 9.0% |
| Regions Covered | United States |
| No. of Companies Mentioned | 10 |
