Fast Food and Quick Service Restaurant Market Size, Growth, Scope and Forecast 2022-2027
According to IMARC Group’s latest report, titled “Fast Food and Quick Service Restaurant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global fast food and quick service restaurant market reached a value of US$ 232.3 Billion in 2021. Fast food and quick service restaurant (QSR) is a form of casual dining arrangement that serves various pre-prepared and economical food and beverages to the customers. These outlets generally provide a limited menu that can be cooked, heated, and packed for takeaway, which, in turn, assists restaurants in saving time, utilizing standardized ingredients, and delivering quality food through varied supply channels.
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The increasing
consumption of ready-to-eat (RTE) and on-the-go food and beverages, especially
amongst the millennials, on account of their hectic working schedules, is
currently driving the fast food and quick-service restaurant market growth.
Additionally, the rapid expansion of quick-service restaurants (QSRs) that
offer varying kinds of delicacies, including fusion, regional and western, is
also propelling the market growth. These chains are also offering numerous
other services, including drive-thru, home delivery and takeout, which, in
turn, aids enterprises in maximizing their profits. Other factors, including
collaborations with third-party delivery services and the widespread
incorporation of technologically advanced solutions, such as touchscreen point,
kitchen-display screen, and self-order kiosks, are further contributing to the
market growth. Looking forward, IMARC Group expects the global fast food and
quick service restaurant market to reach US$ 308 Billion by 2027, exhibiting at
a CAGR of 4.9% during 2022-2027.
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As the novel
coronavirus (COVID-19)
crisis takes over the world, we are continuously tracking the changes in the
markets, as well as the industry behaviors of the consumers globally and our
estimates about the latest market trends and forecasts are being done after
considering the impact of this pandemic.
Competitive
Landscape with Key Players:
- 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
- Yum
     Brands Inc.
Market Segmentation:
Breakup by
Business Model:
- Independent
- Chain
     and Franchise
Breakup by
Cuisine:
- American
- Chinese
- Italian
- Mexican
- Japanese
- Turkish
     and Lebanese
- Others
Breakup by
Product Type:
- Burger
     and Sandwiches
- Pizzas
     and Pastas
- Drinks
     and Desserts
- Chicken
     and Seafood
- Others
Breakup by
Service Type:
- Online
     Service
- Offline
     Service
Breakup by
Region:
- North
     America (United States, Canada)
- Europe
     (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia
     Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin
     America (Brazil, Mexico, Others)
- Middle
     East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key
highlights of the
report:                                                    
- Market
     Performance (2016-2021)
- Market
     Outlook (2022-2027)
- Market
     Trends
- Market
     Drivers and Success Factors
- Impact
     of COVID-19
- Value
     Chain Analysis
- Comprehensive
     mapping of the competitive landscape
If you need specific
information that is not currently within the scope of the report, we will
provide it to you as a part of the customization.
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