The concept of fast casual restaurants came into existence in the late 90’s, however it gained much of the traction in 2009. The fast casual restaurants prepare fresh food rather than assembling them as in the case of fast food restaurant. High quality ingredients, locally sourced, fresh, and organic are the some of the many characteristics of the fast food restaurants. Furthermore, the prices of fast casual restaurants are higher than that of fast food restaurants but considerably lower than that for fine dining.
The introduction of concept of cloud kitchens reduces the capital expenditure. Low capital costs and higher profit margins result into significant investment on fast casual restaurants. Furthermore, increased automation in kitchen and emergence of deliver to door companies further create new growth opportunities for such kitchens around the world. Expansion of deliver to door services along with cloud kitchens boost the sales and profits of fast casual restaurants in the coming few years.
Uncertainties about current and future economic conditions might dissuade foot fall amongst such restaurants. The COVID-19 outbreak results in widespread economic crisis around the world. Rise in unemployment and high prices are expected to act as major challenges for the engaged stakeholders. Fast casual restaurants provide fresh and healthy food coupled with natural offerings, which make way for additional cost. High cost as compared to its counterparts such as quick service restaurants might limit the target audience.
The fast casual restaurant market is segmented into food type, mode of operation, nature and region. By food type, the fast casual restaurant market is classified into burger/sandwich, pizza/pasta, Asian/Latin American Food, chicken, and others. By mode of operation, it is bifurcated into dine in and takeaway. By nature, the market is divided into franchised and standalone. By region, the fast casual restaurant market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the key players analyzed in this market are Chipotle Mexican Grill, Erbert & Gerbert’s Sandwich Shop, Panda Restaurant Group, EXKi SA, Zaxby’s corporate, Five Guys Holdings, Inc. (Five guys burger and fries), Roark Capital Group (Wingstop), Tortilla Mexican Grill, Firehouse Subs, and Famous Brands (Gourmet Burger Kitchen).
Fast Casual Restaurant Market Segments
- Asian/Latin American Food
By Mode of Operation
- North America
- ·Rest of Europe
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
Key Market Players
- Chipotle Mexican Grill
- Erbert & Gerbert’s Sandwich Shop
- Panda Restaurant Group
- EXKi SA
- Zaxby’s corporate
- Five Guys Holdings, Inc. (Five guys burger and fries)
- Roark Capital Group (Wingstop)
- Tortilla Mexican Grill
- Firehouse Subs
- Famous Brands (Gourmet Burger Kitchen)