Fast Food and Quick Service Restaurant Market Growth, Size, Trends, Revenue and Future Outlook
Fast Food and Quick Service Restaurant Market Size- By Type, By Cuisine, By Service- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Dec-2023 | Report ID: FOOD23101 | Pages: 1 - 155 | Formats*: |
| Category : Food & Beverages | |||
Fast Food and Quick Service Restaurant Market Introduction and Overview
According to SPER Market Research, the Global Fast Food and Quick Service Restaurant Market is estimated to reach USD 423.01 billion by 2033 with a CAGR of 5.76%.
The report includes an in-depth analysis of the Global Fast Food and Quick Service Restaurant Market, including market size and trends, product mix, Applications, and supplier analysis. A quick service restaurant, or QSR, is a type of casual dining establishment where patrons are served pre-made fast food. These establishments typically have a small menu and prepare food in large batches ahead of time, then reheat and package it for takeout or dining in. They serve a broad range of reasonably priced dishes and drinks that are influenced by regional ingredients and cuisine, including burgers, sandwiches, pizzas, pastas, soft and alcoholic drinks, desserts, cakes, pastries, chicken, seafood, etc. Aside from this, these eateries are typically a part of an established restaurant chain or franchise that supplies its members with standardized ingredients and/or partially prepared foods via regulated supply chains.
- 2023: McDonald's and Glovo signed a long-term strategic partnership in May 2023 to enhance the customer experience. The company wanted to give customers more options and choices on the platform and improve their experience ordering Mc Delivery through the Glovo platform.
- 2023: Jollibee Foods Corp. announced in March 2023 that it would add up to 600 new locations by the end of the year to increase its global footprint.
Market Opportunities and Challenges
Most restaurant chains have restructured their menus to include healthy and vegan food items in response to changing consumer demand and a growing preference for healthier food products. This is yet another important factor driving market growth. Furthermore, the market is expanding due to the adoption of sustainable packaging in response to rising environmental concerns. Technology has also played an important role in promoting market growth. Among the numerous other technologies that aid in the restructuring of the industry's operations are self-order kiosks, touchscreen point-of-sale terminals, and kitchen-display screens. Self-service kiosks are increasingly being installed in restaurants.
However, increasing consumer awareness of health issues as a result of increased consumption of unhealthy food products is one of the major factors that may impede the growth of the quick service restaurants and fast food market during the Upcoming time. Additionally, a labour shortage is one of the factors impeding the growth of the fast food and quick service restaurant industries.
Market Competitive Landscape
Consumers' desire for innovative, flavourful, and aesthetically appealing food products is driving significant growth in this industry. This includes introducing traditional and fusion dishes that offer consumers a distinct taste experience. They are also introducing new products aimed specifically at vegan customers. The major players in the market include: 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.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Cuisine, By Service |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe |
| Companies Covered | 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. |
COVID-19 Impact on Global Fast Food and Quick Service Restaurant Market
The quick service restaurant (QSR) and fast food industry continued to have a significant global impact at the start of the COVID-19 pandemic. The pandemic forced many operators to temporarily close their in-service restaurants. This outbreak resulted in the permanent closure of many businesses. Fearful of catching the illness, consumers opted to stay home and cook instead of going out. This resulted in a significant decline in demand for the industry. On the other hand, because more people are making off-premise purchases through delivery and takeout, the coronavirus outbreak has raised demand for the sector.
Key Target Audience:
- Busy Professionals
- Budget-Conscious Consumers
- Families
- Health-Conscious Consumers
- Millennials and Generation Z
- Late-Night Customers
- Urban Dwellers
- Travelers and Tourists
- Tech-Savvy Consumers
- Others
Our in-depth analysis of the Fast Food and Quick Service Restaurant Market includes the following segments:
| By Type: |
|
| By Cuisine: |
|
| By Service: |
|
Key Topics Covered in the Report:
- Global Fast Food and Quick Service Restaurant Market Size (FY’2023-FY’2033)
- Overview of Global Fast Food and Quick Service Restaurant Market
- Segmentation of Global Fast Food and Quick Service Restaurant Market By Type (Chain, Independent)
- Segmentation of Global Fast Food and Quick Service Restaurant Market By Cuisine (American, Lebanese, Turkish)
- Segmentation of Global Fast Food and Quick Service Restaurant Market By Service (Drive – Through, Eat-in, Home delivery, Takeaway)
- Statistical Snap of Global Fast Food and Quick Service Restaurant Market
- Expansion Analysis of Global Fast Food and Quick Service Restaurant Market
- Problems and Obstacles in Global Fast Food and Quick Service Restaurant Market
- Competitive Landscape in the Global Fast Food and Quick Service Restaurant Market
- Impact of COVID-19 and Demonetization on Global Fast Food and Quick Service Restaurant Market
- Details on Current Investment in Global Fast Food and Quick Service Restaurant Market
- Competitive Analysis of Global Fast Food and Quick Service Restaurant Market
- Prominent Players in the Global Fast Food and Quick Service Restaurant Market
- SWOT Analysis of Global Fast Food and Quick Service Restaurant Market
- Global Fast Food and Quick Service Restaurant Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Fast Food and Quick Service Restaurant Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Fast Food and Quick Service Restaurant Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Fast Food and Quick Service Restaurant Market
7. Global Fast Food and Quick Service Restaurant Market, By Type (USD Million)
7.1. Global Fast Food and Quick Service Restaurant Market Value Share and Forecast, By Type, 2023-20337.2. Chain7.3. Independent
8. Global Fast Food and Quick Service Restaurant Market, By Cuisine(USD Million)
8.1. Global Fast Food and Quick Service Restaurant Market Value Share and Forecast, By Cuisine, 2023-20338.2. American8.3. Lebanese8.4. Turkish
9. Global Fast Food and Quick Service Restaurant Market, By Service (USD Million)
9.1. Global Fast Food and Quick Service Restaurant Market Value Share and Forecast, By Service, 2023-20339.2. Drive- Through9.3. Eat- In9.4. Home Delivery9.5. Takeaway
10. Global Fast Food and Quick Service Restaurant Market Forecast, 2019-2033 (USD Million)
10.1. Global Fast Food and Quick Service Restaurant Market Size and Market Share
11. Global Fast Food and Quick Service Restaurant Market, By Type, 2019-2033 (USD Million)
11.1. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Type (2019-2026)11.2. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Type (2027-2033)
12. Global Fast Food and Quick Service Restaurant Market, By Cuisine, 2019-2033 (USD Million)
12.1. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Cuisine (2019-2026)12.2. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Cuisine (2027-2033)
13. Global Fast Food and Quick Service Restaurant Market, By Service, 2019-2033 (USD Million)
13.1. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Service (2019-2026)13.2. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Service (2027-2033)
14. Global Fast Food and Quick Service Restaurant Market, By Region, 2019-2033 (USD Million)
14.1. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Region (2019-2026)14.2. Global Fast Food and Quick Service Restaurant Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia14.3.2. China14.3.3. India14.3.4. Japan14.3.5. South Korea14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France14.4.2. Germany14.4.3. Italy14.4.4. Spain14.4.5. United Kingdom14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada14.6.2. Mexico14.6.3. United States
14.7. Latin America
14.7.1. Argentina14.7.2. Brazil14.7.3. Rest of Latin America
15. Company Profile
15.1. Ark Restaurants Corp
15.1.1. Company details15.1.2. Financial outlook15.1.3. Product summary15.1.4. Recent developments
15.2. Carrols Restaurants Group Inc.
15.2.1. Company details
15.2.2. Financial outlook15.2.3. Product summary15.2.4. Recent developments
15.3. Chipotle Mexican Grill Inc.
15.3.1. Company details15.3.2. Financial outlook15.3.3. Product summary15.3.4. Recent developments
15.4. Del Taco Restaurants Inc.
15.4.1. Company details15.4.2. Financial outlook15.4.3. Product summary15.4.4. Recent developments
15.5. Jack in the Box Inc.
15.5.1. Company details15.5.2. Financial outlook15.5.3. Product summary15.5.4. Recent developments
15.6. Kotipizza Group Oyj
15.6.1. Company details15.6.2. Financial outlook15.6.3. Product summary15.6.4. Recent developments
15.7. McDonald’s Corporation
15.7.1. Company details15.7.2. Financial outlook15.7.3. Product summary15.7.4. Recent developments
15.8. The Wendy’s Company
15.8.1. Company details15.8.2. Financial outlook15.8.3. Product summary15.8.4. Recent developments
15.9. Yum Brands
15.9.1. Company details15.9.2. Financial outlook15.9.3. Product summary15.9.4. Recent developments
15.10. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Fast Food and Quick Service Restaurant Market is projected to reach USD 423.01 billion by 2033, growing at a CAGR 5.76% during the forecast period.
Fast Food and Quick Service Restaurant Market from 2022. The Market is expected to reach USD 423.01 billion by 2033, at a CAGR of 5.76% during the forecast period.
Germany Ceramic Tiles Market CAGR of 5.76% during the forecast period.
You can get the sample pages by clicking the link-Click Here
Fast Food and Quick Service Restaurant Market size is USD 423.01 billion from 2023 to 2033.
Fast Food and Quick Service Restaurant Market is Segment covered By Type, By Cuisine, By Service.
The North America is anticipated to have the highest market share in the Fast Food and Quick Service Restaurant Market.
The key players in the market include Companies Covered 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.
This is yet another important factor driving market growth. Furthermore, the market is expanding due to the adoption of sustainable packaging in response to rising environmental concerns.
PLACE AN ORDER
Year End Discount
Sample Report
Pre-Purchase Inquiry
NEED CUSTOMIZATION?
Request CustomizationCALL OR EMAIL US
100% Secure Payment
Related Reports
Have a glance of the Report
Our Global Clients
Our data-driven insights have influenced the strategy of 200+ reputed companies across the globe.
