Quick-service Restaurants Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Quick-Service Restaurants Market
The quick-service restaurants market size was valued at USD 763.42 billion in 2022, and the market is now projected to grow from USD 846.75 billion in 2023 to USD 1,777.97 billion by 2030, exhibiting a CAGR of 11.18% during the forecast period of 2023-2030.
The COVID-19 pandemic significantly disturbed worldwide markets, especially affecting the quick-service restaurants market growth. Rigid limitations on dine-in services constrained numerous outlets to shut mostly or completely, with buyers attentive to feasting out due to virus transmission fears. Within the U.S., lockdown measures from June to October 2020 drive a critical decrease in eatery visits and nourishment investment, reflecting an 8% diminish compared to 2019. Despite constrained operations for takeaways and online requesting, normal deals plunged as shopper footfall dwindled. Innovations like IoT execution, exemplified by Dominos' arrangement in Eminent 2022, offer upgraded shopper encounters and operational productivity in the midst of advancing market flow.
The growth of quick-service eateries parallels the rise of medical devices driven by healthcare mindfulness. Fair as custom-fitted restorative contraptions fuel gadget extension, innovatively progressed nourishment courts improve client comfort, lessening prep time and offering simple get to different nourishments. This trend spares costs for eateries, empowering ventures in cooking hardware. This beneficial interaction cultivates a thriving market as shoppers look for comfort convenience comfort and assortment in eating out. This incline enables quick-service restaurants market share to save on infrastructural costs, allowing for wanders in cooking devices and devices, in the long run contributing to the flourishing market in the coming years.
The rising trend of veggie lover food utilization is balanced to support market growth, reflecting the surge in requests for agent surgeries post-pandemic. Quick-service restaurants are catering to this slant by offering plant-based options, exemplified by McDonald's dispatch of the Twofold McPlant burger in collaboration with Past Meat. This move towards veggie-lover alternatives presents critical growth openings for the quick-service restaurants market.
Comprehensive Analysis of Quick-Service Restaurants Market
Segmented by benefit sort, the quick-service restaurant market comprises dine-in, takeaway, and conveyance choices. With buyers progressively favoring eatery feasting encounters, the dine-in section is balanced for significant development, fueled by the charm of total eating encounters and active ways of life. Whereas takeaway services were once well known, the coming of online nourishment conveyance stages has driven exponential growth within the conveyance portion. This surge is ascribed to the broad availability of computerized arrangements, changes in shopper behavior, and luring offers from operators, projecting the conveyance portion to realize the highest CAGR amid the estimated period.
The North America region rules the quick-service restaurant market size of USD 325.02 billion in 2022 due to driven by a surge in working family units and the fast development of fast-food chains. The U.S. stands out as the biggest industry player, with expanding shopper inclination for eating in such foundations.
The top players within the market play, such as McDonald's Enterprise, Starbucks Corporation, and Yum! Brands, Inc., is driving industry development through persistent development in its nourishment offerings. They routinely present unused items, counting vegan choices, to meet advancing shopper inclinations. Also, key associations and developments, like Starbucks' collaboration with Snatch in Southeast Asia and McDonald's wander into the Metaverse segment, emphasizing their commitment to remaining competitive and extending their market reach. These key industry players set benchmarks for the sector's advancement and shape the competitive scene through their energetic activities.
In February 2022, McDonald's declared its pioneering move into the Metaverse division, arranging to dispatch a virtual eatery featuring both virtual and actual food products. This vital initiative reflects the company's commitment to leveraging rising advances to improve buyer encounters and drive development within the quick-service restaurants market.
Segmentation Table
Global Quick-Service Restaurants Market Scope
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 11.18% from 2023 to 2030
Segmentation By Service Type, and Region
By Service Type Dine-In
Takeaway
Delivery
By Region
North America (By Service Type and Country)
Europe (By Service Type and Country)
Asia Pacific (By Service Type and Country)
South America (By Service Type and Country
Middle East & Africa (By Service Type and Country )
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Market Trends
- 4. Key Insights
- 4.1. Market Overview of the Global Food Service Market
- 4.2. Qualitative Insights on Consumption Pattern, By Demography
- 4.3. Supply Chain Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- 4.6. Qualitative Analysis Related to COVID-19
- 4.6.1. Impact of COVID-19 on the Market
- 4.6.2. Supply Chain Challenges Amidst Pandemic
- 4.6.3. Potential Opportunities due to COVID-19
- 5. Global Quick-Service Restaurants Market Analysis, Insights and Forecast, 2019-2030
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Service Type
- 5.2.1.1. Dine-In
- 5.2.1.2. Takeaway
- 5.2.1.3. Delivery
- 5.2.2. By Region
- 5.2.2.1. North America
- 5.2.2.2. Europe
- 5.2.2.3. Asia Pacific
- 5.2.2.4. South America
- 5.2.2.5. Middle East & Africa
- 6. North America Quick-Service Restaurants Market Analysis, Insights, and Forecast, 2019-2030
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Service Type
- 6.2.1.1. Dine-In
- 6.2.1.2. Takeaway
- 6.2.1.3. Delivery
- 6.2.2. By Country (Value)
- 6.2.2.1. U.S.
- 6.2.2.2. Canada
- 6.2.2.3. Mexico
- 7. Europe Quick-Service Restaurants Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Service Type
- 7.2.1.1. Dine-In
- 7.2.1.2. Takeaway
- 7.2.1.3. Delivery
- 7.2.2. By Country (Value)
- 7.2.2.1. France
- 7.2.2.2. Russia
- 7.2.2.3. U.K.
- 7.2.2.4. Italy
- 7.2.2.5. Germany
- 7.2.2.6. Rest of Europe
- 8. Asia Pacific Quick-Service Restaurants Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Service Type
- 8.2.1.1. Dine-In
- 8.2.1.2. Takeaway
- 8.2.1.3. Delivery
- 8.2.2. By Country (Value)
- 8.2.2.1. China
- 8.2.2.2. India
- 8.2.2.3. Japan
- 8.2.2.4. Australia
- 8.2.2.5. Rest of Asia Pacific
- 9. South America Quick-Service Restaurants Market Analysis, Insights, and Forecast, 2019-2030
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Service Type
- 9.2.1.1. Dine-In
- 9.2.1.2. Takeaway
- 9.2.1.3. Delivery
- 9.2.2. By Country (Value)
- 9.2.2.1. Argentina
- 9.2.2.2. Brazil
- 9.2.2.3. Rest of South America
- 10. Middle East & Africa Quick-Service Restaurants Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Service Type
- 10.2.1.1. Dine-In
- 10.2.1.2. Takeaway
- 10.2.1.3. Delivery
- 10.2.2. By Country (Value)
- 10.2.2.1. South Africa
- 10.2.2.2. Saudi Arabia
- 10.2.2.3. Rest of Middle East & Africa
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Quick-Service Restaurants Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 12. Company Profiles
- 12.1. 12.1 Chick-fil-A
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.1.6. Similar information has been provided for all the below companies
- 12.2. Papa John's International, Inc.
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.2.6. Similar information has been provided for all the below companies
- 12.3. Subway IP LLC
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.3.6. Similar information has been provided for all the below companies
- 12.4. Starbucks Corporation
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.4.6. Similar information has been provided for all the below companies
- 12.5. Yum! Brands, Inc.
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.5.6. Similar information has been provided for all the below companies
- 12.6. McDonald’s Corporation
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.6.6. Similar information has been provided for all the below companies
- 12.7. Restaurant Brands International Inc.
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.7.6. Similar information has been provided for all the below companies
- 12.8. The Wendy’s Company
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.8.6. Similar information has been provided for all the below companies
- 12.9. Dunkin (Inspire Brands)
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.9.6. Similar information has been provided for all the below companies
- 12.10. Domino’s Pizza, Inc.
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 12.10.6. Similar information has been provided for all the below companies
- 13. Appendix
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