Technological Intervention are influencing Fast-casual Restaurants
Arizton’s recent market research report on the Europe fast-casual restaurants identifies JAB Holdings, Nando’s, Pizza Hut, and The Restaurant Group as the leading vendors in the market. This research report provides a comprehensive industry study, trend forecasts, and competitive analysis. The research study segments the market by dayparts (breakfast, lunch, dinner, and snacks), formats (independents and chains), channels (on-premise and off-premise), and geography (Germany, UK, France, Spain, Italy, and Rest of Europe).
The Europe fast-casual restaurants market is expected to generate revenues of around $17 billion by 2024, growing at a CAGR of approximately 6% during 2018–2024.
The concept of fast-causal restaurant, which is a fusion of fast food and casual dining, has been one of the strongest segments in the restaurant industry over the past decade. The growing per capita disposable income and the increasing demand and spending on dining out are expected to present growth opportunities for the fast-casual restaurants industry.
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The major trends and drivers witnessed in the Europe fast-casual restaurants industry are discussed below:
Evolving Dining Patterns
The culture of a sit-down, formal eating in the younger generation has been diluted in countries such as the UK and France. The increasingly fluid families, which include a major proportion of single occupant or single-parent homes, has driven the demand for convenient meal solutions. They are eating outside food often, which is leading to the growth of the overall foodservices market. Meal occasions have become less structured due to unconventional working hours and busy lifestyles. The stress accompanying a fast-paced lifestyle has led them to depend on quick service occasional pick-me-ups. Fast-casual vendors such as Itsu are stepping up their game by serving in as little as 60 seconds. There is also a demand for innovation that enables low-calorie foods with natural and fresh ingredients. Fast-casual restaurants are offering breakfast, lunch, and dinner to brunch and tea time menus; hence their appeal is more widespread.
Technology and Food Industry
Digital technology is changing the way food comes to the table. The intersection of technology and food is occurring in a monumental way. Routine practices at dining places are being revisited to arm customers with more information, personalized promotional offers, increased convenience, choice, customized orders, short waiting times, accessibility to the customer. All these factors help in creating customer loyalty and engagement for delivery restaurants. Vendors availing technology for delivery practices believe that it can help improve food quality through feedbacks and increase outlet footfall through deliveries. For the ease of customer usage, vendors have integrated an app functionality that allows customers to pay through their mobile via debit and credit cards, Apple Pay or PayPal. The Restaurant Group has rolled out a feedback app that can facilitate real-time customer comments, which can enhance understanding of customer needs and drive menu innovation while improving operations and employee training.
Improving Nutrition Literacy
According to the WHO, obesity rates in southern European children have crossed 40% mark. Several Mediterranean countries have leaned toward improving nutrition literacy in schools. Countries such as Portugal have introduced a soda tax. As a result, obesity rates in these countries among children witnessed a decline. Further, these factors are influencing the consumption behavior and driving healthier menu shifts. Green, superfoods, and proteins are becoming part of the major proposition in the foodservice industry. Since this concept of conscious consumption has both a good value proposition and allows purposeful consumption in a quick service environment, fast casual perfectly fits the current environment. The portions are usually decent and low calories allowing health-conscious consumers to stretch their food to a second meal as a leftover. All these factors have the reach of home-grown and international fast casual joints. Pho, a Vietnamese chain, introduced menu offerings such as salad rolls, rice bowls, and drinks under 500 calories.
100 Montaditos, Chipotle Mexican Grill, Five Guys, Francesca, Gourmet Burger Kitchen, Itsu, Leon, Marché Mövenpick, Mezzo Di Pasta, Paul, Smashburger, Shake Shack, Tossed, Tortilla Mexican Grill, Vapiano, von Allwörden, Patisserie Valerie, and Sushi Daily are identified as the other prominent vendors in the Europe fast-casual restaurants market.
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The complete overview of the latest market research report on the Europe fast-casual restaurants market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides market size and forecast for major geographical regions and key countries.
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