Portland, OR, Oct. 20, 2020 (GLOBE NEWSWIRE) — According to the reportpublished by Allied Market Research, the global fast casual restaurant market generated $125.6 billion in 2019, and is expected to garner $209.1 billion by 2027, witnessing a CAGR of 10.6% from 2021 to 2027.The research provides anextensive analysis of changing market trends, top winning strategies, key segments, pricing strategies,product portfolio, and competitive scenario.
Rise in prominence of fast causal restaurants,fewerbarriers to entry, huge profits, and deliveryservices to door fuel the growth of the global fast casual restaurant market. However, expensive nature in comparison to quick service restaurants restrains the market growth. Contrarily, adoption of new technologies and hygienic environmentfor cooking are estimated to present new opportunities in the next few years.
In-depth analysis of the COVID-19 impact on the fast casual restaurant [email protected] https://www.alliedmarketresearch.com/request-for-customization/6673?reqfor=covid
- Owing to lockdown imposed by governments in many countries, the demand for food from fast casual restaurantsdeclined significantly as the dine-in mode of operation stopped entirely.
- Moreover, travel restrictions on local as well as international travel also affected the demand considerably as footfall of tourists rolled down.
- As lockdown restrictions lifted off, many restaurants began the takeaway services to ensure business continuity. Moreover, the dine-in services began by following hygienic and safety guidelines by governments.
The report offers a detailed segmentation of the global fast casual restaurant market based on food type, mode of operation, nature, and region.
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On the basis of food type, the burger/sandwich segment held nearly one-third of the total market share of the global fast casual restaurant market in 2019, and is projected to maintain its leadershipposition during the forecast period. However, the pizza/pasta is expected to witness the fastest CAGR of 13.6% from 2021 to 2027.
By mode of operation, the dine-in segment accounted for the highest share with nearly two-thirds of the total share in 2019, and is projected to maintain its lead throughout the forecast period. However, the takeaway segment is projected to garner the highest CAGR of 11.9% from 2021 to 2027.
Geographically, North America contributed to the highest market share in terms of revenue, accounting for nearly half of the global market in 2019, and is expected to maintain its dominant share throughout the forecast period. However, the Asia-Pacificis expected to manifest the highest CAGR of 13.7% from 2021 to 2027.
Key players analyzed in the report of the global fast casual restaurant market include Chipotle Mexican Grill, Panda Restaurant Group, Erbert&Gerbert’s Sandwich Shop, Zaxby’s corporate, EXKi SA, Roark Capital Group (Wingstop), Five Guys Holdings, Inc. (Five guys burger and fries), Firehouse Subs, Tortilla Mexican Grill, and Famous Brands (Gourmet)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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