Fast-casual restaurant market growing

The global fast-casual restaurants market size will increase by US$150 billion between 2019 and 2024, progressing at a compound annual growth (CAGR) of over 12% during the forecast period.
According to research firm Technavio, urbanisation, changing lifestyles, and rising working population means less time to cook at home. These trends are driving more diners to fast-casual eateries. The global market growth is also due to increasing demand for innovation and customisation in food menus and a growing preference for gluten-free dining and healthy meals.
These factors, coupled with more purchasing power and growing consumer expenditure on dining out, create several growth opportunities for vendors in the market.
By cuisine type, the market is witnessing high growth in North America, attributed to the increasing consumption of sandwiches, burgers, and other quick-serve foods among children and adults. Also, the rising demand for grab-and-go sandwiches from the millennial population contributes to the segment's growth.
However, there is a downside. Intense competition from quick-service restaurants may also reduce their growth potential in the market, findings revealed.

(Image from Unsplash)

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