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In 2022, the estimated value of the global Quick Service Restaurants (QSR) market was USD 173.79 billion, with future growth predicted at a CAGR of 6.9%. Consumers' shifting priorities and growing preference for fast food are driving forces behind the global expansion of the quick service restaurant (QSR) industry. A fast food restaurant is one that serves ready-to-eat or nearly-ready-to-eat meals in a short amount of time. There is a vast range in the quality of service provided by these restaurants.
The proliferation of food delivery websites and apps has led to explosive expansion in the meal delivery industry. Traditional restaurants, Quick-Service Restaurants (QSRs), and others in the food service industry have increasingly favored online ordering and delivery. In addition to the competitive advantage QSRs enjoy by delivering faster service than traditional restaurants, consumers can now have food delivered to their homes in a fraction of the time it used to take thanks to cutting-edge delivery technology. The system is open and honest, keeping restaurants informed at every stage of the order's journey from placement to delivery. For instance, Zomato, a major player in the Indian food delivery market, stated in March 2022 that it will be creating and introducing a 10-minute delivery service. According to Deepinder Goyal, the company's creator, this service would be prioritized in areas with the highest demand.
Cloud kitchens have gained in popularity since the pandemic. These businesses function like restaurants in that they have a kitchen, but they cater mostly to takeout and delivery customers. The low initial investment and small workforce enable these businesses to offer substantial savings. The popularity of on-demand food delivery services like GrubHub and DoorDash has led to the rise of cloud kitchens to support these third-party delivery apps.
The QSR industry was already having a major impact on the global economy at the start of COVID-19. Due to the pandemic and subsequent shelter-in-place orders, many businesses had to temporarily close their dining facilities. As a result of the pandemic, several establishments had to permanently close their doors. Fearing they would catch the disease, shoppers stayed home and cooked rather than go out. The outcome was a precipitous fall in demand throughout the sector during that time.
The fast food market is expected to expand at a rapid pace over the next few years. As the primary distributors of this mass-produced food, quick service and fast food restaurants have flourished due to the increasing demand for their products and services. The popularity of quick service restaurants and fast food is due in large part to the fact that they are high quality, quick, and cheap.
The global rise of the quick service restaurant sector is caused in part by the rising need for a diverse selection of fast food options. Wireless portable devices, digital menu cards, point-of-sale, signage systems, and kiosks are just some of the latest innovations in the quick-service restaurant IT business that are expected to boost sales.
Revenue growth in the global quick-service restaurant IT industry is boosted significantly by rapid urbanization, rising disposable income levels, and rising restaurant numbers. Due to consumer preferences for little physical touch in the wake of the COVID-19 epidemic, home delivery is expected to become a more common practice in the global IT business in the near future.
The demand for the industry surged, however, as customers opted to make more takeaway and delivery orders in the wake of the coronavirus outbreak. In the traditional restaurant market, just 56% of businesses responded to the pandemic, but 90% of quick-service operators did. Curbside takeout and third-party delivery have historically been the most popular forms of off-premise dining.
Report Coverage
Global Quick Service Restaurant research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Quick Service Restaurant report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Quick Service Restaurant competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Quick Service Restaurant market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Quick Service Restaurant market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Quick Service Restaurant market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Jack in the Box (U.S.), Chipotle Mexican Grill (U.S.), Kotipizza Group Oyj (Finland), Restaurant Brands International Inc (Canada), Del Taco Restaurants, Inc. (U.S.), Ark Restaurants Corp. (U.S.), McDonald's (U.S.), Darden Concepts, Inc. (U.S.)., Pizza Hut India (India), Carrols Restaurant Group, Inc., (U.S.), Burger King Corporation (U.S.), Subway IP LLC (U.S.), Taco Bell IP Holder, LLC (U.S.)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Quick Service Restaurant market based on the below-mentioned segments:
Global Quick Service Restaurant Market, By Service Type
Self-serviced
Assisted self-service
Fully serviced
Global Quick Service Restaurant market, By Category
Single Outlet
Quick Service Restaurants Chain
Global Quick Service Restaurant market, Regional Analysis
The proliferation of food delivery websites and apps has led to explosive expansion in the meal delivery industry. Traditional restaurants, Quick-Service Restaurants (QSRs), and others in the food service industry have increasingly favored online ordering and delivery. In addition to the competitive advantage QSRs enjoy by delivering faster service than traditional restaurants, consumers can now have food delivered to their homes in a fraction of the time it used to take thanks to cutting-edge delivery technology. The system is open and honest, keeping restaurants informed at every stage of the order's journey from placement to delivery. For instance, Zomato, a major player in the Indian food delivery market, stated in March 2022 that it will be creating and introducing a 10-minute delivery service. According to Deepinder Goyal, the company's creator, this service would be prioritized in areas with the highest demand.
Cloud kitchens have gained in popularity since the pandemic. These businesses function like restaurants in that they have a kitchen, but they cater mostly to takeout and delivery customers. The low initial investment and small workforce enable these businesses to offer substantial savings. The popularity of on-demand food delivery services like GrubHub and DoorDash has led to the rise of cloud kitchens to support these third-party delivery apps.
The QSR industry was already having a major impact on the global economy at the start of COVID-19. Due to the pandemic and subsequent shelter-in-place orders, many businesses had to temporarily close their dining facilities. As a result of the pandemic, several establishments had to permanently close their doors. Fearing they would catch the disease, shoppers stayed home and cooked rather than go out. The outcome was a precipitous fall in demand throughout the sector during that time.
The fast food market is expected to expand at a rapid pace over the next few years. As the primary distributors of this mass-produced food, quick service and fast food restaurants have flourished due to the increasing demand for their products and services. The popularity of quick service restaurants and fast food is due in large part to the fact that they are high quality, quick, and cheap.
The global rise of the quick service restaurant sector is caused in part by the rising need for a diverse selection of fast food options. Wireless portable devices, digital menu cards, point-of-sale, signage systems, and kiosks are just some of the latest innovations in the quick-service restaurant IT business that are expected to boost sales.
Revenue growth in the global quick-service restaurant IT industry is boosted significantly by rapid urbanization, rising disposable income levels, and rising restaurant numbers. Due to consumer preferences for little physical touch in the wake of the COVID-19 epidemic, home delivery is expected to become a more common practice in the global IT business in the near future.
The demand for the industry surged, however, as customers opted to make more takeaway and delivery orders in the wake of the coronavirus outbreak. In the traditional restaurant market, just 56% of businesses responded to the pandemic, but 90% of quick-service operators did. Curbside takeout and third-party delivery have historically been the most popular forms of off-premise dining.
Report Coverage
Global Quick Service Restaurant research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Quick Service Restaurant report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Quick Service Restaurant competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Quick Service Restaurant market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Jack in the Box (U.S.), Chipotle Mexican Grill (U.S.), Kotipizza Group Oyj (Finland), Restaurant Brands International Inc (Canada), Del Taco Restaurants, Inc. (U.S.), Ark Restaurants Corp. (U.S.), McDonald's (U.S.), Darden Concepts, Inc. (U.S.)., Pizza Hut India (India), Carrols Restaurant Group, Inc., (U.S.), Burger King Corporation (U.S.), Subway IP LLC (U.S.), Taco Bell IP Holder, LLC (U.S.) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Quick Service Restaurant Market from 2021 to 2030.
- Market Forecast for Quick Service Restaurant Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Quick Service Restaurant competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Quick Service Restaurant
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Quick Service Restaurant market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Quick Service Restaurant market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Jack in the Box (U.S.), Chipotle Mexican Grill (U.S.), Kotipizza Group Oyj (Finland), Restaurant Brands International Inc (Canada), Del Taco Restaurants, Inc. (U.S.), Ark Restaurants Corp. (U.S.), McDonald's (U.S.), Darden Concepts, Inc. (U.S.)., Pizza Hut India (India), Carrols Restaurant Group, Inc., (U.S.), Burger King Corporation (U.S.), Subway IP LLC (U.S.), Taco Bell IP Holder, LLC (U.S.)
Primary Target Market
- Market Players of Quick Service Restaurant
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Quick Service Restaurant market based on the below-mentioned segments:
Global Quick Service Restaurant Market, By Service Type
Self-serviced
Assisted self-service
Fully serviced
Global Quick Service Restaurant market, By Category
Single Outlet
Quick Service Restaurants Chain
Global Quick Service Restaurant market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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