Global Airport Quick-service Restaurants (Qsr) Market - Market Size & Forecast To 2032

Global Airport Quick-service Restaurants (Qsr) Market - Market Size & Forecast To 2032

The global Airport quick-service restaurants (QSR) market is estimated to reach a value of USD 263.79 Billion in 2032 and it is projected to register a CAGR of 4.65% during the forecast period. A quick-service restaurant (QSR) isdefined as a restaurant that can serve certain foods with little preparation time and delivers them through quickservices. The increased consumption of fast foods and ready-to-eat items by consumers is fuelling the rise of the quickservice restaurant business. Because of their fast-paced lifestyles, the working population has increased theirconsumption of convenience foods, which has boosted the rise of quick service restaurants. The significant increasein fast food chain expansion, especially in emerging markets, has also benefited industry growth. To attract customers'attention, fast service restaurants are providing innovative food concepts such as fusion cuisines, vegan fare, andothers. This, in turn, is driving their market growth.

Over the last decade, the number of travellers using air transportation has steadily increased. Because of the highcost and poor quality of in-flight meals, the demand for the bring-your-own-food (BYOF) idea is gradually increasing(particularly from domestic economy class passengers). The popularity of the BYOF idea is expected to fuel theexpansion of quick-service restaurants in airports during the forecast period.

In the next years, increasing investments in airport infrastructure for the building of new terminals and airports invarious nations around the world are expected to offer new opportunities for the concessionaire to meet the needs ofgrowing passenger traffic. However, the growth of the airport quick-service restaurant business is being hampered byairport authorities' strict restrictions, logistical issues, and menu constraints. The lack of best practises by fast servicerestaurants, which has resulted in a decline in food quality, has had a negative impact on market growth. Many smalland mid-sized players in developing nations lack manpower, proper infrastructure, and relevant technology, resultingin poor food quality being given to consumers, limiting market expansion.

Most industries are still adjusting to Covid-19, and the impact on the food industry has been particularly severe. Manyestablishments are fighting to keep their heads above water as restaurants close for sit-down service. Consumers arespending more money on meal delivery, takeaway, prepared food, and groceries as a result of the pandemic, and weexpect this tendency to continue even after the outbreak is over. This means QSRs must begin preparing for a digital-first future, in which “order ahead” and other mobile order experiences will be significantly more crucial than theywere prior to the epidemic.

The global Airport quick-service restaurants (QSR) market is segmented based on by type and region.

Based on type, the global Airport quick-service restaurants (QSR) market is segmented into fast food and meals,beverages, bakery and confectionery. Fast food & meals could be further segmented pizza, pasta, sandwiches otherand beverages are segmented into tea, coffee and others. Bakery and confectionery are further classified as cake,pastry, chocolate items, and others.

The fast food and meals segment registered the highest market share. Increased predilection for fast foods has beenattributed to rising middle-class incomes in numerous nations throughout the world, as well as changes in dietarypatterns and food habits. The tremendous expansion in fast food consumption is opening up new business prospectsfor fast food companies. As a result, fast-food chains are expanding inside airports. Another reason driving up demandfor fast food in airports is the large selection of options available at affordable prices compared to the high retail pricesonboard planes. Similarly, because LCC airlines do not provide in-flight catering, restaurant chains are extending theirpresence in locations with a high prevalence of low-cost carriers (LCCs). Thus, the fast food and meals segment of themarket is predicted to increase gradually during the forecast period.

Based on region, the global Airport quick-service restaurants (QSR)s market is segmented into North America, Europe,Asia Pacific, Middle East and Africa, and South America. During the forecast period, the Asia-Pacific region is expectedto generate the most demand. In recent years, countries such as China, India, Singapore, Thailand, and Indonesiahave seen substantial increases in air passenger traffic. Governments and airport operators are being forced to spendin the modernization and improvement of existing airports, as well as the construction of new airports, as a result ofthe significant expansion in passenger traffic. This will make it easier for new regional restaurants and global foodchains to cooperate with the airport and a government-approved concessionaire to grow into new airports.

The market for quick service restaurants in North America is booming. The expanding popularity of ready-to-eat items,as well as consumers' increasing need for quick, low-cost fast food from QSR, is boosting industry growth. Furthermore,changing lifestyles are fuelling the regional expansion of the QSRs industry, with an increase in dine out culture andless time spent cooking.

The competitive scenario highlights the performance of major companies operating in this market. This includes thedetailed profiling of major companies and their competitive benchmarking. Product profiling provides key informationincluding products/solutions offered, key developments, company performances, and strategies adopted in recentyears. Major companies profiled in the market include McDonalds, Dominos, KFC, Burger King and others.