Quick Service Restaurant Market by Product (Hamburgers, Pizzas, Sandwiches), Cuisine Type (American Cuisine, Chinese Cuisine, French Cuisine), Structure, Service Type - Global Forecast 2024-2030

Quick Service Restaurant Market by Product (Hamburgers, Pizzas, Sandwiches), Cuisine Type (American Cuisine, Chinese Cuisine, French Cuisine), Structure, Service Type - Global Forecast 2024-2030

The Quick Service Restaurant Market size was estimated at USD 340.03 billion in 2023 and expected to reach USD 367.34 billion in 2024, at a CAGR 8.51% to reach USD 602.51 billion by 2030.

Quick-service restaurants (QSRs) are restaurants that focus on convenient food service by offering menu items such as burgers, sandwiches, salads, wraps, and other similar foods that can be prepared and served fast. Customers appreciate the speed of service QSRs provide, and many QSRs offer various promotions and discounts, which helps draw customers. The quick-service restaurant (QSR) industry has seen an increase in popularity amongst young consumers due to the convenience of fast food. There have been efforts to improve customer satisfaction through seasonal additions of new dishes and drinks by QSR outlets. Despite this growth, high operating costs and concerns associated with maintaining food quality and consistency control impede the market growth. QSRs widely focus on product quality assurance to achieve a trusted customer base, and market players constantly invest in franchising and marketing to expand their global presence. QSRs are adopting self-service and AR/VR technologies to engage their customers better while providing loyalty programs and avid discounts on food and drinks.

Regional Insights

The QSR market is constantly advancing in the Americas region, driven by the presence of established convenient food chains and the preference of the local population to consume outside fast-food. The rise of food delivery and digital transformation has further assisted in elevating the market growth in the region. The regional players in the U.S. and Canada are also providing diverse offerings to meet the preference of different countries and ethnicities. Europe, characterized by well-recognized independent and franchise-based QSRs, is shifting to health-conscious and ethical options. The region has a strong travel industry across France, Italy, and the UK, enabling players to achieve a larger customer base. The inclination of the youth population towards low-priced, easy-to-go menus and eating options and increased participation of women in the workforce, rising living standards in cities such as London, Seoul, Shanghai, Los Angeles, Mumbai, and others provide considerable scope for the expansion of QSRs. The U.S. and Europe have also started to introduce tools that enable them to administer and assure service quality standards within quick-service restaurants.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Quick Service Restaurant Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Popularity of eating out and purchasing convenient fast food among young population
    • Growing inclination toward online food ordering from QSRs
    • Seasonal addition of add-on dishes and drink options to improve customer satisfaction
    • Market Restraints
      • Difficulties in maintaining margins and high operating costs
      • Market Opportunities
        • Player initiatives and investments in franchising and marketing of QSRs
        • Emerging adoption of self-service and AR/VR technologies
        • Market Challenges
          • Concerns associated with quality and consistency control
          • Market Segmentation Analysis
            • Product: Preferences of customers towards attractive foods
            • Cuisine Type: Demand for fast foods, such as burgers and hotdogs in american cuisine
            • Structure: Increasing chained quick service restaurant networks capturing large consumer base
            • Service Type: Adaptability towards Home Delivery services
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Quick Service Restaurant Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Quick Service Restaurant Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Domino’s is partnering with Uber Eats in company-first delivery aggregator partnership
              
              Domino's Pizza Inc. has expanded its customer convenience by partnering with Uber Technologies, Inc. to offer pizza delivery services in the U.S. This decision marks a shift from Domino's Pizza Inc.'s previous strategy of exclusively relying on first-party delivery. As part of the agreement, Domino's has entered into an exclusive delivery partnership with Uber Eats, which remains in effect until at least 2024. Additionally, this partnership is expected to grant Uber access to 27 international markets, further expanding its reach in the food delivery industry.
              
              Restaurant Brands International announces the start of Firehouse Subs global expansion
              
              Restaurant Brands International, Inc. has announced the initiation of global expansion for Firehouse Subs, marking its first venture outside of North America with the opening a restaurant in Switzerland. The brand sets to benefit from the scale and proven growth capabilities of Restaurant Brands International Inc.
              
              Domino’s launches Pinpoint Delivery system
              
              Domino's Pizza Inc. has launched pinpoint delivery, an innovative feature integrated into Domino's mobile application. This feature facilitates seamless outdoor delivery in various locations such as parks, beaches, and playing fields. Customers can drop a pin instead of entering a full delivery address at their preferred delivery spot and can easily track their driver's progress through text notifications.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Quick Service Restaurant Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Quick Service Restaurant Market, highlighting leading vendors and their innovative profiles. These include American Dairy Queen Corporation, Big Boy Restaurant Group LLC, Bojangles’ Restaurants, Inc., Carl’s Jr. Restaurants LLC, Chick-fil-A, Inc., Chipotle Mexican Grill, Inc., Church's Texas Chicken, Culver Franchising System, LLC, Domino's Pizza Inc., Drunken Monkey, Fireaway Pizza, Hunt Brothers Pizza, LLC, Inspire Brands, Inc., Jack in the Box Inc., Little Caesar Enterprises, Inc., Long John Silver's, LLC, McDonald's Corporation, Panda Restaurant Group, Inc., Panera Bread, Papa John's International, Inc., Quiznos, Restaurant Brands International Inc., Starbucks Corporation, Steak n Shake Enterprises, Inc., Subway, The Wendy's Company, Whatabrands LLC, Wok&Go Franchise Uk Limited, Yum! Brands, Inc., Yörpas Yöresel Gıdaler Pazarlama A.Ş., and Zaxby’s SPE Franchisor LLC.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Quick Service Restaurant Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Hamburgers
              • Pizzas
              • Sandwiches
              • Tacos & Burritos
              • Cuisine Type
                • American Cuisine
                • Chinese Cuisine
                • French Cuisine
                • Greek Cuisine
                • Indian Cuisine
                • Italian Cuisine
                • Japanese Cuisine
                • Mexican Cuisine
                • Spanish Cuisine
                • Turkish & Lebanese Cuisine
                • Structure
                  • Chained
                  • Independent
                  • Service Type
                    • Drive-Through
                    • Eat-In
                    • Home Delivery
                    • Take Away
                    • Region
                      • Americas
                        • Argentina
                        • Brazil
                        • Canada
                        • Mexico
                        • United States
                          • California
                          • Florida
                          • Illinois
                          • New York
                          • Ohio
                          • Pennsylvania
                          • Texas
                          • Asia-Pacific
                            • Australia
                            • China
                            • India
                            • Indonesia
                            • Japan
                            • Malaysia
                            • Philippines
                            • Singapore
                            • South Korea
                            • Taiwan
                            • Thailand
                            • Vietnam
                            • Europe, Middle East & Africa
                              • Denmark
                              • Egypt
                              • Finland
                              • France
                              • Germany
                              • Israel
                              • Italy
                              • Netherlands
                              • Nigeria
                              • Norway
                              • Poland
                              • Qatar
                              • Russia
                              • Saudi Arabia
                              • South Africa
                              • Spain
                              • Sweden
                              • Switzerland
                              • Turkey
                              • United Arab Emirates
                              • United Kingdom
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year