Technavio’s latest market research report on the quick service restaurants market in the US provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
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Technavio has published a new market research report on the quick service restaurants market in the US 2017-2021 under their food and beverage library. (Graphic: Business Wire)
One of the key factors resulting in the growth of the quick service restaurants market in the US is growing innovation and customization in the food menu. Customers at quick service outlets prefer fresh flavors and are willing to try existing food products with new exotic flavors. The millennials are the key consumers of fast food and are inclined to taste new cuisines.
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The three emerging market trends driving the quick service restaurants market in the US according to Technavio research analysts are:
- Increasing innovations in food packaging
- Growing use of mobile applications
- Increasing innovation and customization of menu
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Increasing innovations in food packaging
Owing to the growing focus on sustainability, vendors have started adopting new packaging designs. Environment-friendly productions and solutions ensure a reduction in global warming. Quick service restaurant owners develop innovative and sustainable packaging solutions for branding that is assisting in increasing footfall. Vendors in the corrugated packaging industry offer a wide range of packaging solutions for hot food, particularly for takeaways. These solutions combine innovative design with fine tuning for easy handling and consumption.
According to Manjunath Reddy, a lead analyst at Technavio for food service, “Pizza chains favor corrugated packaging due to their excellent insulation property. Recent developments include innovative pizza delivery cardboard container that compartmentalizes into four sections. Technological innovations in packaging are expected to drive the demand for fast food in the future. McDonald's and Starbucks use sustainable packaging and have increased the use of reusable and recyclable substances.”
Growing use of mobile applications
Technology is an integral growth strategy that is used by vendors to increase their market shares. Leading quick service restaurants chains integrate their services with technology to provide customer satisfaction. Numerous online and mobile third-party delivery platforms such as Postmates, UberEATS, and Amazon Restaurants function as full-service restaurants. In the US, an escalating number of consumers are embracing mobile technology for food services.
Most consumers use mobile applications for convenience. Mobile applications assist in locating nearby stores for drive-thru or takeaway. These apps also offer updated menu, offers, and discount coupons to attract customers. Online payment and assured quick service provided by vendors reduce the time and increase convenience. The point of sale (POS) technology provides hassle-free quick services to customers. These apps enable consumers to customize snacks based on the number of calories of each food item.
Increasing innovation and customization of menu
Consumers look for new flavors and a combination of foods that have bold flavors and premium alternatives. Their tastes and preferences are evolving, and they are demanding more exotic cuisines for their meals. Millennials are inclined toward innovative and exotic flavored fast food, and they seek options to customize their food based on their calorie intake per day. Considering this tendency among consumers, various foodservice operators are adding innovative food items to their menu
“The primary reason for increasing customization is the rising importance of diet, irrespective of medical condition or nourishment confinement, food allergy, or weight reduction plan. Consumers prefer customized food items, which match their taste. Many foodservice vendors provide customization options so that consumers can customize a range of ingredients including freshly baked bread and the preferred type of cheese and meats, jalapeño, bell peppers, spreads, and extra fillings,” says Manjunath.
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