Explore how brands like Fulton, Elix, and Blume are turning to guerrilla marketing to cut through the noise and connect directly with consumers.
We know from Technomic’s 2023 America’s Favorite Chains data that Americans love steak and smoothies. But of course, they still eat plenty of burgers, chicken, sandwiches, and other foods. So who are the winners of those various categories? And why?
The fast casual restaurant market size was valued at $125.6 billion in 2019, and is expected to reach $209.1 billion by 2027, registering a CAGR of 10.6% from 2021 to 2027.
The demand for innovation and customization in food menus is notably driving market growth. The demand for new flavors, combination food infused with bold flavors, and premium alternatives is on the rise in the US. Customers with constantly evolving tastes demand exotic cuisine. This demand for innovative and exotic-flavored fast food is most prominent among millennials. The millennials seek options that allow customization of food based on their calorie intake per day.
This comprehensive research identifies crucial trends for anyone in the restaurant industry looking to adapt and thrive.
This trend is further complicated by the diverse reactions of different income groups, with higher-income consumers maintaining their spending habits, while lower-income groups exhibit more caution.
Curious about what else is in store for the restaurant world this year? Check out the comprehensive "2023 State of the Restaurant Industry" report by the National Restaurant Association, your go-to source for industry sales projections and trends.
