Global Fast Casual Restaurant Market Report and Forecast 2024-2032

Global Fast Casual Restaurant Market Outlook

The global fast casual restaurant market size reached USD 211.52 billion in 2023. The market is expected to grow at a CAGR of 11.5% between 2024 and 2032, reaching almost USD 563.41 billion by 2032.

Key Takeaways

• Subway® experienced a 9.2% increase in same-store sales compared to the previous year, and a notable 29.1% rise from 2020, thus, indicating a growth in the global fast casual restaurant market.

• Chipotle Mexican Grill, a fast-casual dining chain, announced $9.9 billion in total revenue for 2023, reflecting a 14.3% increase compared to the prior year.

• A fast-casual restaurant merges fast food with casual dining, providing quality at affordable prices, using fresh ingredients, refined techniques, and customization.

A fast-casual eatery sits at the crossroads of fast food and casual dining, offering a blend of affordable prices and elevated food and service standards. They emphasize the use of fresh ingredients and refined culinary techniques to enhance the dining experience. Customers appreciate the opportunity to personalize their meals.

These venues provide swifter service than traditional sit-down restaurants, creating welcoming environments for relaxed dining. The inclusion of healthier menu choices, reasonable pricing, a wide array of dishes, and the integration of technology all contribute to an enhanced customer experience, often with a focus on community engagement.

According to the global fast casual restaurant market report, Subway®, a major player in the global restaurant industry, concluded another exceptional year, achieving record-breaking results attributed to its ongoing transformation initiative. This strategy encompasses menu enhancements, restaurant modernization efforts, and overall improvements in guest satisfaction.

Globally, Subway® saw a 9.2% rise in same-store sales compared to 2021, along with a substantial 29.1% increase compared to 2020 thus boosting the global fast casual restaurant market growth.

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Key Trends and Developments

The expansion of the global fast casual restaurant market is fuelled by evolving consumer tastes, easy entry into the market with promising returns, increased affordability, and the growing impact of marketing and branding strategies.

February 2024

Popeyes, a well-known American fast-food brand, may enter Australia through its parent company, Restaurant Brands International, aiming to challenge local competitors.

November 2023

The Great Greek Mediterranean Grill, based in Florida, introduces three new dining styles: a to-go outlet, a digital kitchen, and venue-specific setups for airports, universities, and stadiums, facilitating expansion.

August 2023

Wendy's, an American fast-food chain, marked a significant achievement with the opening of its 100th location in India, situated in Ahmedabad, Gujarat.

May 2023

Odd Burger, a global vegan fast-food brand, planned an expansion with 145 new outlets in India within a decade. Partnering with Earthlings Canada, they also aimed to open 5 locations in Singapore.

Changing consumer preference

The rise of fast-casual dining establishments is linked to shifts in consumer tastes, favouring healthier lifestyles. The move towards fresh, natural, and freshly made meals is driving the growth of fast-casual restaurants. These venues feature menus with freshly made, minimally processed items, which are increasingly popular and contribute to the global fast casual restaurant market growth.

Accessible entry and lucrative returns

The global fast casual restaurant market developments are attributed to the emergence of cloud kitchens that minimizes initial investment, leading to greater profitability in fast-casual dining ventures. This, alongside kitchen automation and the rise of delivery services, fosters growth in the sector.

Rise in affordability

Fast casual dining, known for its affordability, presents a budget-friendly alternative to traditional restaurants. With competitive pricing and diverse menu options, it remains popular, particularly among students and the working class, thus, propelling the market growth.

Growing influence of marketing and branding

According to the global fast casual restaurant market analysis, strategic marketing and branding play a pivotal role in advancing the fast casual restaurant sector. Fast casual restaurant chains leverage advertising and promotions to establish robust brand identities, appealing to diverse demographics and fostering consumer loyalty, thus sustaining demand for their products.

Global Fast Casual Restaurant Market Trends

The increasing consumption of convenient and packaged food items, along with the uptake of fast-food options such as frozen ready meals in the food service sector, is driving global fast casual restaurant market growth.

Additionally, the rising prevalence of food delivery apps, providing convenient doorstep delivery, quick ordering, and promotional incentives, is fostering a favourable market trajectory.

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Market Segmentation

Global Fast Casual Restaurant Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Food Type

• Burger and Sandwich

• Pizza and Pasta

• Asian and Latin American Food

• Chicken

• Others

Market Breakup by Mode of Operation

• Dine-in

• Takeaway

Market Breakup by Nature 

• Franchised

• Standalone

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Burgers and sandwiches contribute to the global fast casual restaurant market due to their versatility in ingredients and toppings, as well as their quick preparation and service

Burgers and sandwiches offer customization to suit personal preferences, ideal for quick, on-the-go meals, with various choices of bread, meats, and vegetables. They are also easily prepared for busy schedules.

Pizza and pasta cater to diverse dietary needs, providing a range of sauces and toppings for variety. They are quick to cook and serve and adaptable to different flavours and culinary styles.

Based on the mode of operations, the global fast casual restaurant market share is led by takeaways services due to their appeal for on-the-go consumption and accessibility, catering to busy individuals

Takeaway services offer affordability compared to dining in, eliminating the need for tipping or paying for table service and reducing overhead costs for restaurants.

Dine-in provides a complete dining experience with ambience, opportunities for social gatherings, and meals made fresh to order. Customers can request specific cooking methods or ingredient changes, and receive personalized service for special occasions, ensuring a satisfying dining experience.

Competitive Landscape

Market players are driving the growth of the global fast casual restaurant market through diverse menu offerings, which encompass vegetarian and gluten-sensitive selections.

Chipotle Mexican Grill, Inc., established in 1993 in the U.S., is a renowned American fast-casual restaurant chain recognized for its Mexican-inspired offerings. The eatery is popular for its sustainably sourced, high-quality burritos, tacos, and bowls. Chipotle stands out for its commitment to "Food with Integrity," focusing on responsibly sourced ingredients.

QDOBA Restaurant Corporation, founded in 1995 in the U.S., is an American fast-casual dining franchise specializing in Mexican cuisine. Originating from Denver, Colorado, Qdoba is known for its customizable burritos, tacos, and bowls, providing customers with a diverse selection of ingredients. The company takes pride in its fresh ingredients, vibrant flavours, and made-to-order meals.

BurgerFi International, Inc., established in 2011 in the U.S., is an American fast-casual restaurant brand renowned for its premium burgers made from all-natural, hormone-free Angus beef. Founded in Florida, BurgerFi offers a menu featuring gourmet burgers, hot dogs, fries, and milkshakes, emphasizing sustainable practices and environmentally friendly packaging. The company aims to deliver a modern, upscale burger dining experience.

Deli Management Inc. (Jason's Deli), founded in 1976 in the U.S., is a family-operated American fast-casual restaurant chain specializing in deli-style dishes like sandwiches, salads, soups, and pasta. Jason's Deli is famous for its wide-ranging menu options, including vegetarian and gluten-sensitive choices. The company focuses on using top-notch, natural ingredients to offer a nourishing dining experience for its customers.

Other key players in the global fast casual restaurant market are The Halal Guys, Sweetgreen, Inc, Greek Xpress, Panera Bread (JAB Holding Company), Shake Shack Enterprises, LLC, and Schlotzsky’s (GOTO Food) among others.

Global Fast Casual Restaurant Market by Region

Based on the region, global fast casual restaurant market share is driven by Asia Pacific. This rise is linked to rapid urbanization, a rising need for convenient dining options, and ongoing innovations in the food and beverage sector, particularly in countries such as India, China, and Japan.

In North America and Europe, the increasing desire for flavourful cuisine paired with prompt, high-quality services are projected to drive market expansion. Additionally, the growing presence of key market players in these regions is expected to create lucrative opportunities for industry growth.

Chipotle Mexican Grill, a fast casual restaurant establishment, reported total revenue of $9.9 billion for the year 2023, marking a 14.3% growth from the previous year.

Key Highlights of the Report

Fast Casual Restaurant Market Report Snapshots

Fast Casual Restaurant Market Size

Fast Casual Restaurant Market Trends

Fast Casual Restaurant Market Regional Analysis

Fast Casual Restaurant Companies