The report forecasts the fast casual restaurants market in the US to grow at a CAGR of 10.38% during the period 2016-2020.
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According to the report, a fast casual pizza restaurant is a fresh and rapidly growing concept. It is a combination of fast food and casual dining restaurants. It serves healthier pizza that is fresh but costs more than the ones served in quick service pizza restaurants. The increase in health consciousness has pushed the demand for this segment. Consumers are willing to pay more for the healthy, fresh, and low-calorie pizza served at fast casual restaurants. In 2013, Chipotle Mexican Grill partnered with restaurateurs Bobby Stuckey and Lachlan Mackinnon-Patterson to launch a fast casual pizza concept called Pizzeria Locale, which cooks pizzas in around two minutes in customized 900°F oven. MOD Pizza, Blaze Fast-Fire'd Pizza, Pie Five Pizza, PizzaRev, Uncle Maddio's Pizza, and Live Basil Pizza are the top pizza restaurants in this category in the US.
Further, the report states that a major challenge for almost all the types of restaurants including fast casual restaurants is the fluctuation in the prices of food commodities such as sugar, grains, meat, and dairy products, which are vital for the preparation of food. In 2015, the prices of meat and vegetables shot up considerably by 3%-5% compared to 2014.