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Fast-casual Dining Market- Introduction
A Fast-casual restaurants are mainly found in Canada and United States, and they don’t provide full table service but they promote higher quality food than a fast-food restaurant along with some processed or frozen food. It is in between the concept of casual dining and fast food.
However, the launch of the concept of cloud kitchens decreases the capital expenses, and the higher profit margins with less capital cost result in significant growth in casual restaurants. Moreover, growth in kitchen automation and emergency delivery to door creates new opportunities for kitchens like this, all over the world. In the upcoming few years, the enhancement of delivery at door services and cloud kitchens services improves the profit and also sales of fast-casual restaurants.
Although the fast-food companies are expanding and improving their food items to be in competition, the people are aligning towards the fast-casual restaurants as compared to the fast-food restaurants. However, fast-casual dining offers something interesting like high-quality meals at a fairly convenient cost.
Fast-casual Dining- Overview
The occurrence of fast-casual dining restaurants is explained as a cross among the fast-food and sit-down chain dining restaurants. However, fast-casual dining restaurants have expanded as a multi-billion-dollar market inside the fast-food industry.
Approximately 1/3rd of individuals in the region of Asia-Pacific uses the service of delivery to door for getting their food delivered at their doorsteps. Accordingly, the instant growth in the services of online delivery like Swiggy, Uber eats, Deliveroo, Zomato, and Door Dash has been experienced during the few previous years. By taking into consideration the convenience of the people, the technology-enabled the delivery to home services and few facilities are offered by the online services like customizations, per order and quick delivery at destination boosts the growth of fast-casual restaurants globally. However, the exposure of delivery to door services is predicted to provide growth continuously and drive the fast-casual restaurant market in the upcoming years.
The quick transformation in the foodservice industry is much influenced by the adoption of new technologies for efficient and better performances.
Fast-casual Dining Market – Economic growth
The fast-casual restaurant market, in 2019 was valued at $125.6 billion and the market is predicted to reach $209.1 billion by the year 2027, indicating a CAGR of 10.6 % during the year 2021 to 2027.
Fast-casual Dining Market Drivers-
For almost 20 years, fast-casual restaurants have been increasing constantly when it comes to restaurants. While it still holds accounts for less than 10 percent in the total market. The number of assortments of the fast-casual restaurants has been a break out around the country, but with an amazing growth of approximately 500% from the year 1999!
The concept of a creative restaurant and evolving taste of the customers are the driving factors behind the growth of the market. Currently, customers are looking for healthy food options and are active in choosing food alternatives. They are looking for more than a typical food but without changing convenience and speed. However, the fast-casual dining market is still evolving at a high rate and providing more opportunities for interested entrepreneurs.
Segmentation of Fast-casual Dining Market-
The Global Fast-casual Dining market is categorized on the basis of types, mode of operation, and region.
Segmentation by types- Burger/Sandwich, Pizza/Pasta, Asian/Latin American Food, Seafood, and others.
The segment of Pizza-Pasta would indicate the highest CAGR of 13.6% during the year 2021 to 2027, the forecast period.
Segmentation by means of operation- Dine-in and take away.
The takeaway sector exhibits a higher CAGR of 11.9% during the year 2021 to 2027, the forecast period.
Segmentation on the basis of the region- APAC, Europe, North America, and South America.
The sector of North America leads the market in terms of shares for the casual restaurant market.
Major Players in Fast-casual Dining Market-
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