Europe has demonstrated high potential for casual dining as consumers across the region are as short on time as those in the US and are seeking out entirely new dining experiences. The study considers the present scenario of the Europe fast-casual dining market and its market dynamics for the period 2019 - 2024. Image: ThorstenF, Pixabay NEW YORK -- The Europe fast-casual dining market is likely to reach revenues of around $17 billion by 2024, growing at a CAGR of approximately 6% during 2018–2024.
Also read, Shifting Definitions of Value Increasingly Include Food Quality and Service, New Report Finds. The Europe fast-casual dining market is expected to be driven by factors such as change in dining patterns, flexibility of fast casual, cultural influences, and evolution of digital technology. A lot of the growth and innovation is being fueled in the fast-casual dining market by small and regional chains similar to the relationship between Instagram generation and strong marketing of small brands. This has shifted expectations around restaurant designs, ingredient sourcing, services, and food. Europe has demonstrated high potential for casual dining as consumers across the region are as short on time as those in the US and are seeking out entirely new dining experiences. Cross-referencing is a tactic that is gaining traction in fast casual kitchens so as to not stress workers working in the quick service environment, and the kitchen in general. Moreover, authenticity in the dining experience is being given a lot of attention. Good value meals, ease of ordering, decent customer services, and high-quality food and taste have provided momentum to the Europe fast-casual dining market. The study considers the present scenario of the Europe fast-casual dining market and its market dynamics for the period 2019?2024. The report covers a detailed overview of several market growth enablers, restraints, and trends. It covers both the demand and supply aspect of the market. It profiles and examines leading and prominent companies operating in the Europe fast-casual dining market. The research report on the Europe fast-casual dining market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by daypart (lunch, dinner, breakfast, and snacks), channel (on-premise and off-premise), format (independents and chains), and geography (Germany, UK, France, Spain, Italy, and Rest of Europe). Europe Fast-casual Dining Market: Dynamics Over the years, fast-casual dining has evolved in terms of dining patterns. Factors such as cultural influence, the flexibility of fast casual dining, and increased technological innovations are driving the Europe fast-casual dining market. The advent of digital technology is changing the food industry significantly. It helps to customize orders, gather the customer's data, and create lucrative rewards and discounts. Prominent vendors have integrated applications that allow customers to make the payment via debit and credit cards, Apple Pay, or PayPal. For instance, Firejacks offers Pay My Bill, which enables diners to pay their bills electronically via a compatible mobile device at the restaurant. Similarly, Chipotle has created a tech-enabled second make line – i.e., a second burrito assembly line where all online orders are assembled. It has fitted stores with visual screens that show which ingredients are added into each burrito, thereby improving accuracy. Digital advancements are bolstering the franchise development model. It helps to improve communication by enabling franchisors to monitor everything in real-time. Europe Fast-casual Dining Market: Segmentation The market research report includes a detailed segmentation of the market by daypart, channel, format, and geography. The Europe fast-casual dining market by dayparts can be segmented into lunch, dinner, breakfast, and snacks. The lunch segment grew gradually and was valued at around $5 billion in 2018. Increased lunch outings by office goers have significantly contributed to the segment growth. Most casual restaurants are trying to leverage upon healthy food, combo options, and competitive pricing. Vendors are slowly including beverages as part of the portfolios from signature hot beverages to alcohol. The diner segment is the second most developing sub-segment of the Europe fast-casual dining market. It is witnessing high popularity among customers, especially the family segment and serves high-quality food under the quick service model. The Europe fast-casual dining market by channels can be segmented into on-premises and off-premises. The on-premise casual dining segment is developing and is expected to grow at a CAGR of around 5% during the forecast period. Increased outings and the rise in disposable income have given momentum to the on-premise casual dining segment. Further, to make fast-casual restaurants more millennial-friendly and increase dwell time, vendors are adding elements that are likely to fuel conversation, spread fun and frolic, and increase community interactions. The Europe fast-casual dining market by format can be segmented into independents and chains. Independent units dominated the market and are expected to grow at a CAGR of around 6% during the forecast period. High responsiveness toward customer needs and the element of freshness and surprise are the key factors for market growth. The independent segment has further been fast-tracked as a lot of internationally-recognized professional chefs have been attracted to the market. For instance, Paul Bocuse's Ouest Express, Ferran Adria's Fastfood, and Marcus Samuelsson's Street Food in Western Europe are offering high-quality food and quick service together. These chef-driven concepts have rendered a level of creativity to independent fast casuals, thereby propelling the Europe fast-casual dining market. Market Segmentation by Daypart: • Lunch • Dinner • Breakfast • Snacks Market Segmentation by Channel: • On-premise • Off-premise Market Segmentation by Format: • Independents • Chains Europe Fast-casual Dining Market by Geography The Europe fast-casual dining market by geography is segmented into Germany, UK, France, Spain, Italy, and Rest of Europe. Germany has dominated the market and is expected to grow at a CAGR of around 6% during the forecast period. Fast-casual players are fueling the growth by expanding in areas of transit. The rise of Germany as a favorite destination for multiple fast-food joints is fueling the Europe fast-casual dining market. The fast-casual dining market in UK has created a conducive environment. Food diversity and the evolving high-street landscape have paved the path for the Europe fast-casual dining market growth. Key Countries Profiled: • Germany • UK • France • Spain • Italy • Rest of Europe Key Vendor Analysis The fast-casual dining market in Europe has moderate concentration of leading players. It is dominated by both regional chains and small single-location establishments. The fast-casual dining market is focusing on quality, brand value, customer services, and consistency. Vendors are introducing new concepts to gain customers such as offering fast-casual dining on rooftops, introducing make-your-own dishes, creating innovative kitchens among others. The combination of such new concepts and technological advancements is expected to drive the fast-casual dining market in Europe. Leading Vendors: • JAB Holdings • Nando's • Pizza Hut • The Restaurant Group 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, vonAllwörden, Patisserie Valerie, and Sushi Daily. Key Market Insights: • Offers market sizing and growth prospects of the Europe fast-casual dining market for the forecast period 2019–2024 • Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the Europe fast-casual dining market • Includes a detailed analysis of market growth drivers, challenges, and investment opportunities • Delivers a complete overview of market segments and the regional outlook Europe fast-casual dining market • Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the Europe fast-casual dining market SOURCE Reportlinker
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