About Quick Service Restaurants
Quick Service Restaurants (QSR) is usually known as a fast-food provider. These restaurants typically provide food services with quick time at reasonable prices. The quick service restaurants provide fast food items over a limited menu as they can be prepared in lesser time with the least possible variation. These QSR combine their food items on the menu into a package of complimentary meals, for instance, McDonald’s value meal of fries, a soft drink, and a burger. Quick service restaurants like Pizza Hut, Burger King, and others are growing exponentially in recent times and this has driven the global quick service restaurants market.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 6.99% |
According to AMA research, the global quick service restaurants market is highly competitive and consists of a limited number of vendors who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for the growth of quick service restaurants. Analyst at AMA Research estimates that United States and Asia Pacific Vendors will contribute the maximum growth to Global Quick Service Restaurants market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Chick-fil-A (United States), Domino’s (United States), Dunkin' Brands Group, Inc. (United States), McDonald’s Corporation (United States), Restaurant Brands International Inc. (Canada), Starbucks Corporation (United States), Subway (United States), The Wendy’s Company (United States), Yum! Brands, Inc. (United States), Burger King (United States), KFC (United States) and Pizza Hut (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Quick Service Restaurants market by , Application (Restaurant Operation, Franchise Management, Inventory Management and Others) and Region.
On the basis of application, Restaurant Operation segment is dominating the market in the year 2023 where as Franchise Management segment stood as second largest market .On the basis of geography, the market of Quick Service Restaurants has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Service Time, the sub-segment i.e. 24 Hours will boost the Quick Service Restaurants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Eat-in will boost the Quick Service Restaurants market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Innovation in Packaging for Takeaway Food
Market Growth Drivers:
Rising Awareness among the Consumers Regarding the Quick Service Restaurants, Fast Shipping of Food at Individual Locations and Growing Preference of Consumers toward Consumption of Fast Food and Ready-To-Eat Foods
Challenges:
Presence of Many Small and Mid-Size Unorganized Players Competing With Large Chain Players
Restraints:
Food Price Inflation and Fluctuation in Service Charges
Opportunities:
Growing Popularity of Online and Mobile App-Based Food Ordering and Craving for International Food
Market Leaders and their expansionary development strategies
In September 2019, McDonald’s acquired Apprente, a artificial intelligence company that will help McDonald’s to automate the drive-thru. Apprente’s employees will be the founding members of a group called McD Tech Labs, which will be housed within McDonald’s global technology team.
In 2018, KFC India entered into the partnered with Sodexo to give greater choice to the millennial consumers. This partnership enables the use of Sodexo Meal Pass at KFC outlets across India.
Analyst View
Changing socio economic environment has brought phenomenal developments in food service industry and quick service restaurants segment is front runner in this growth story. A quick service restaurant offering fast-food outlet such as pay at the counter, ready to eat food immediately after ordering, minimal service charges have boosted the global quick service restaurants market
Key Target Audience
Large, Medium-Sized, and Small Enterprises, Venture Capitalists, Value-Added Resellers (VARs), Third-Party Knowledge Providers, Investment Companies and Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.