Global Quick Service Restaurant (QSR) Market Size By Type (Standalone, Chain And Franchises), By Business Model (Online, Offline), By Service Type (Dine-In, Takeaway), By Geographic Scope And Forecast
Global Quick Service Restaurant (QSR) Market Size By Type (Standalone, Chain And Franchises), By Business Model (Online, Offline), By Service Type (Dine-In, Takeaway), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Quick Service Restaurant (QSR) Market Size And Forecast
Quick Service Restaurant (QSR) Market size was estimated at USD 293.8 Billion in 2022 and is projected to reach USD 454.3 Billion by 2030, growing at a CAGR of 5.60% from 2023 to 2030.
Major factors which drive the market growth include changing lifestyles of the young adult and the adult population and the increasing number of quick service restaurants globally. Moreover, the growing demand for fast food among the population in developed and developing nations is a critical factor that is driving the growth of the market. The Global Quick Service Restaurant (QSR) Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Quick Service Restaurant (QSR) Market Definition
Quick Service Restaurants (QSR) offer food items that require the least preparation time and are delivered through quick services. These restaurants have modular, standardized, and efficient procedures that help to reduce the lead time required for fulfilling the orders of the customers. These restaurants offer with a limited menu as it is prepared with minimum variations in a much lesser time.
So, what's really fueling the market? Well, a big part of it is how quickly cities are growing in developing countries, mixed with the fact that people have more money to spend. Think about itTrading Economics reported that in the U.S., average disposable income jumped from USD 18,296.5 in April 2022 to 19,594.8 in January 2023! On top of that, more and more people are working, especially in places like the U.S., UK, India, and Germany, which gives the market another boost. For example, the European Commission said that Germany had a working population of 45.1 million in February 2022, a 1.5% increase from the year before.
What's inside a industry report?
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
Global Quick Service Restaurant (QSR) Market Overview
We all love Quick Service Restaurants, right? They're fast! And that's why they're so popular. Plus, with more and more people working, these restaurants are seeing a serious boost in demand – it just makes sense. But it's not just about speed anymore. People, especially younger folks, are also looking for healthier options. This switch to healthy eating is a big deal, and it's expected to really help the market grow. Why? Because eating well can actually prevent a lot of those nasty chronic diseases. For example, Barbecue Lab says that over 80% of chronic conditions can be avoided by eating a healthy diet and getting some exercise!
Plus, you know how many fast-food places are popping up everywhere? Well, that's expected to keep growing! Just look at McDonald's – they went from 2637 company-owned stores in early 2020 to 2676 by early 2021. To get even bigger, these companies are focusing on things like delivering right to your door. Delivery and takeaway have exploded since COVID, mainly because everyone wants that no-contact service. And get this, these restaurants are also diving into digital tech to make things smoother, automate stuff, cut down on waste, and generally give you a better experience. Learn more here.
Due to the increased consumer consciousness, there has been a considerably high demand for scan and-learn applications and freshness detectors, which provide customers with detailed nutritional contents of the food. The emergence of cloud kitchens in various countries is expected to boost the market growth. Cloud kitchens or ghost kitchens are commercial kitchens that prepare food only for delivery or takeout. Despite this, the market is anticipated to be negatively impacted due to the lack of staff and appropriate infrastructure required for the optimal functioning of the restaurants.
Global Quick Service Restaurant (QSR) MarketSegmentation Analysis
The Global Quick Service Restaurant (QSR) Market is Segmented on the basis of Type, Business Model, Service Type, And Geography.
Quick Service Restaurant (QSR) Market, By Type
Standalone
Chain & Franchises
Based on Type, The market is bifurcated into Standalone and Chain & Franchises. The Chain and Franchises segment dominated the market in 2022 due to the higher adoption of the chain and franchises model by several key players such as Domino’s, McDonald, Burger King, etc. The model offers several advantages, such as rapid brand expansion and higher revenues for the franchiser. Moreover, the failure rate of brands operating under this model is low; this is anticipated to further drive the adoption of the model, thereby positively impacting the growth of the market.
Quick Service Restaurant (QSR) Market, By Business Model
Online
Offline
Based on Business Model, The market is bifurcated into Online and Offline. The offline segment dominated the market in 2022. Several QSR restaurants have their presence through offline channels, which is a key factor driving the segment growth. Despite this, the online channel is expected to grow lucratively during the forecast period owing to the emergence of online food delivery partners.
Quick Service Restaurant (QSR) Market, By Service Type
Dine-in
Takeaway
Drive-Through
Home Delivery
Based on Service Type, the market is bifurcated into Dine-in, Takeaway, Drive-Through, and Home Delivery. Dine-in segment accounted for the largest market share in 2022. The major factor contributing to this is increasing consumer preference towards dining out in restaurants. Moreover, a significant proportion of customers go out for a complete dining experience which is expected to be an opportunity for the restaurants offering these services.
Quick Service Restaurant (QSR) Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Based on Regional Analysis, the Global Quick Service Restaurant (QSR) Market is classified into Asia Pacific, Latin America, North America, Europe, and Middle East & Africa. North America accounted for the largest market in the Global Quick Service Restaurant (QSR) Market; this is attributed to increasing demand for fast foods, growing consumer preferences towards multi-cuisine foods, and availability of easy and quick delivery options from restaurants and third-party dealers. Moreover, the presence of key players in the region, such as Burger King, McDonald’s, Dunkin Brands, etc., is anticipated to positively impact the market growth in the region.
Key Players
Want to get a handle on the worldwide Quick Service Restaurant (QSR) scene? Our study report, "Global Quick Service Restaurant (QSR) Market," gives you the inside scoop, focusing on the global market. We're talking about the big names like McDonald’s Corporation, Yum! Brands Inc., Domino’s Pizza Inc., Dunkin Brands Group, Burger King, Chick-fil-A, Starbucks Corporation, Subway, The Wendy’s Company, Restaurant Brands International Inc., Ark Restaurant Corp., Carrols Restaurant Group, Inc., Chipotle Mexican Grill, Darden Concepts, Inc., Quality Is Our Recipe, LLC, Inspire Brands Inc., Papa John’s International Inc., Wallace Fujian food co. Ltd., DEL TACO RESTAURANT, INC., Kotipizza Group Oyj. Plus, we break down the competition, looking at development strategies, market share, and how these players rank against each other globally.
Key Developments
In September 2022, Starbucks announced it had opened its 6000th store at Shanghai Lippoo in mainland China where the company opened its first store in China.
In May 2022, McDonald’s announced it had agreed to evolve its partnership with Deliveroo. With this partnership, the customers and the McDonald’s franchisees will benefit from the McDelivery business.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Quick Service Restaurant (QSR) Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Quick Service Restaurant (QSR) Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
For a single, multi and corporate client license, the report will be available in PDF format.
Sample report would be given you in excel format. For more questions please contact:
Sample Report for Global Quick Service Restaurant (QSR) Market Size By Type (Standalone, Chain And Franchises), By Business Model (Online, Offline), By Service Type (Dine-In, Takeaway), By Geographic Scope And Forecast
