The global fast food and quick service restaurant market size reached US$ 255.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 370.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.2% during 2023-2032.
A food and quick service restaurant (QSR) refers to a casual dining setup, in which pre-prepared fast food is assembled and served to the customers. These outlets usually offer a limited menu and the food is prepared in advance in bulk quantities, which is further heated and packaged for take away or dine-in. They provide a wide variety of economical foods and beverages, such as burgers, sandwiches, pizzas, pastas, soft and alcoholic drinks, desserts, cakes, pastries, chicken, seafood, etc., and which are inspired by the local ingredients and cuisine. Apart from this, these restaurants are usually a part of an existing restaurant chain or franchise operation that provides standardized ingredients and/or partially prepared foods to the restaurants through controlled supply channels.
Significant growth in the food and beverage industry, along with the widespread adoption of franchise business models by popular restaurant chains, is one of the key factors creating a positive outlook for the market. Furthermore, the increasing working population and improving consumer lifestyles across the globe have enhanced the consumption of fast food products. Also, due to the hectic schedules, there is widespread adoption of on-the-go food products that can be readily purchased and consumed while traveling. This, consequently, is creating a positive outlook for the market. Additionally, the emerging café culture, coupled with the availability of healthier fast food alternatives, is acting as another growth-inducing factor. QSRs are developing innovative and exotic recipes using natural, organic and plant-based ingredients, instead of artificial and processed substitutes, and are gaining immense traction among health-conscious consumers. Other factors, including modernization and digitization of the restaurants, coupled with the utilization of touchscreen kiosks, kitchen-display screens and digital sales terminal, are anticipated to drive the market further.
2. What is the expected growth rate of the global fast food and quick service restaurant market during 2024-2032?
3. What has been the impact of COVID-19 on the global fast food and quick service restaurant market?
4. What are the key factors driving the global fast food and quick service restaurant market?
5. What is the breakup of the global fast food and quick service restaurant market based on the business model?
6. What is the breakup of the global fast food and quick service restaurant market based on cuisine?
7. What is the breakup of the global fast food and quick service restaurant market based on the product type?
8. What is the breakup of the global fast food and quick service restaurant market based on the service type?
9. What are the key regions in the global fast food and quick service restaurant market?
10. Who are the key players/companies in the global fast food and quick service restaurant market?
A food and quick service restaurant (QSR) refers to a casual dining setup, in which pre-prepared fast food is assembled and served to the customers. These outlets usually offer a limited menu and the food is prepared in advance in bulk quantities, which is further heated and packaged for take away or dine-in. They provide a wide variety of economical foods and beverages, such as burgers, sandwiches, pizzas, pastas, soft and alcoholic drinks, desserts, cakes, pastries, chicken, seafood, etc., and which are inspired by the local ingredients and cuisine. Apart from this, these restaurants are usually a part of an existing restaurant chain or franchise operation that provides standardized ingredients and/or partially prepared foods to the restaurants through controlled supply channels.
Significant growth in the food and beverage industry, along with the widespread adoption of franchise business models by popular restaurant chains, is one of the key factors creating a positive outlook for the market. Furthermore, the increasing working population and improving consumer lifestyles across the globe have enhanced the consumption of fast food products. Also, due to the hectic schedules, there is widespread adoption of on-the-go food products that can be readily purchased and consumed while traveling. This, consequently, is creating a positive outlook for the market. Additionally, the emerging café culture, coupled with the availability of healthier fast food alternatives, is acting as another growth-inducing factor. QSRs are developing innovative and exotic recipes using natural, organic and plant-based ingredients, instead of artificial and processed substitutes, and are gaining immense traction among health-conscious consumers. Other factors, including modernization and digitization of the restaurants, coupled with the utilization of touchscreen kiosks, kitchen-display screens and digital sales terminal, are anticipated to drive the market further.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global fast food and quick service restaurant market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on business model, cuisine, product type and service type.Breakup by Business Model:
- Independent
- Chain and Franchise
Breakup by Cuisine:
- American
- Chinese
- Italian
- Mexican
- Japanese
- Turkish and Lebanese
- Others
Breakup by Product Type:
- Burger and Sandwiches
- Pizzas and Pastas
- Drinks and Desserts
- Chicken and Seafood
- Others
Breakup by Service Type:
- Online Service
- Offline Service
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
- The report has also analysed the competitive landscape of the market with some of the key players being Ark Restaurants Corp., Carrols Restaurant Group Inc., Chipotle Mexican Grill Inc., Del Taco Restaurants Inc., Jack in The Box Inc., Kotipizza Group Oyj (Orkla ASA), McDonald's Corporation, Restaurant Brands International Inc., The Wendy's Company and Yum Brands Inc
Key Questions Answered in This Report
1. What was the size of the global fast food and quick service restaurant market in 2023?2. What is the expected growth rate of the global fast food and quick service restaurant market during 2024-2032?
3. What has been the impact of COVID-19 on the global fast food and quick service restaurant market?
4. What are the key factors driving the global fast food and quick service restaurant market?
5. What is the breakup of the global fast food and quick service restaurant market based on the business model?
6. What is the breakup of the global fast food and quick service restaurant market based on cuisine?
7. What is the breakup of the global fast food and quick service restaurant market based on the product type?
8. What is the breakup of the global fast food and quick service restaurant market based on the service type?
9. What are the key regions in the global fast food and quick service restaurant market?
10. Who are the key players/companies in the global fast food and quick service restaurant market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Fast Food and Quick Service Restaurant Market
6 Market Breakup by Business Model
7 Market Breakup by Cuisine
8 Market Breakup by Product Type
9 Market Breakup by Service Type
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Ark Restaurants Corp.
- Carrols Restaurant Group Inc.
- Chipotle Mexican Grill Inc.
- Del Taco Restaurants Inc.
- Jack in The Box Inc.
- Kotipizza Group Oyj (Orkla ASA)
- McDonald's Corporation
- Restaurant Brands International Inc.
- The Wendy's Company and Yum Brands Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 141 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 255.4 Billion |
| Forecasted Market Value ( USD | $ 370.8 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
