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Global Fast Casual Restaurant Market to Grow at a CAGR of 11.5% During 2023-2028, Aided by the Heightened Deployment of Innovative Production Strategies

According to a new report by EMR titled, ‘Global Fast Casual Restaurant Market Report and Forecast 2023-2028’, the market attained a value of around USD 189.7 billion in 2022. The market is further expected to grow at a CAGR of 11.5% between 2023 and 2028 to attain an estimated value of USD 364.52 billion by 2028.

The heightened investments in the food and beverage sector are expected to drive the global fast casual restaurant industry. In addition, the development of creative menus with the adoption of innovative food production strategies is also anticipated to aid the market growth in the coming years. For instance, the growing preference for fusion cuisines and healthy and fresh ingredients is being observed among the population. In addition, the growing demand for online food delivery and takeaways among the gen Z and working population is anticipated to support the market growth. The improved living standards and the increasing disposable incomes are leading to increased consumer interests in dining out, thereby aiding the market.


The growing emphasis of key market players in the development of innovative flavours to attract more consumers, with the use of creative cooking methods and promotional strategies, is predicted to bolster the industry growth in the forecast period. For instance, in August 2021, Chipotle Mexican Grill, Inc. (NYSE: CMG) announced to introduce its new plant-based chorizo, the company’s latest menu innovation that would be available in selected branches in Denver and Indianapolis. The offering provides the deep flavours of chorizo and is made exclusively using fresh farm produce. Furthermore, in June 2021, Thighstop, a new virtual restaurant concept initiated by Wingstop Restaurants, Inc. (NASDAQ: WING), announced the launch of new flavour options for consumers on their online website and through its delivery partner DoorDash. Such developments are expected to positively impact the market for fast casual restaurant in the forecast period.


Market Breakup by Food Type, Mode of Operation, Nature, and Region:

  • The market is divided, based on food type, into burger/sandwich, pizza/pasta, Asian/Latin American food, and chicken, among others.
  • On the basis of mode of operation, the market can be categorised into dine-in and takeaway.
  • Based on nature, the market can be segmented into franchised and standalone.
  • Region-wise, the global market for fast casual restaurant can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.


Key Findings of the Report:

  • The global market for fast casual restaurant is being driven by the increased investments by the market players in the expansion of their restaurant chains.
  • The growing emphasis of the market players in the development of innovative strategies to offer creative menus has significantly contributed to the market expansion.
  • The rising disposable incomes and improved living standards of consumers are also aiding the industry growth.
  • The rising demand for quick and quality food services, especially among the emerging working and gen Z population, is further propelling the market growth.


Key Offerings of the Report:

  • The EMR report gives an overview of the global market for fast casual restaurant for the periods (2018-2022) and (2023-2028).
  • The report also offers historical (2018-2022) and forecast (2023-2028) market information for the food types, modes of operation, nature, and regions of fast casual restaurant.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.


The major players in the global fast casual restaurant market are Chipotle Mexican Grill, Inc, Qdoba Restaurant Corporation, BurgerFi International, Inc., DMI, Inc. (Jason's Deli), The Halal Guys, Success Foods Management Group LLC, Greek Xpress, Panera Bread, Jersey Mike's Franchise Systems, Inc, and Schlotzskys, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.


*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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