Quick Service Restaurant Market Expected Huge Growth by 2019-2023 Profiling Key Players are Domino’s Pizza Inc., Yum! Brands, Inc. (Pizza Hut), Ilitch Holdings, Inc. (Little Caesars), Papa John’s International, Inc.
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Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall US QSR market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
1. Domino’s Pizza Inc.
2. Yum! Brands, Inc. (Pizza Hut)
3. Ilitch Holdings, Inc. (Little Caesars)
4. Papa John’s International, Inc.
Quick service restaurants (QSRs) are restaurants that serve food products which require minimal preparation time. The menu of quick service restaurants offer limited products to the customers, which include only those food items that can be cooked in less time with minimal variation. Majority of the QSRs combine their food products into a bundle of complementary meals and offer bundled pricing and attractive discounts to their customers.
Several features of quick service restaurants include limited menu, franchise model, bundled pricing, etc. Various steps are involved in establishing a quick service restaurant, which are as follows: deciding the location and menu, staffing the QSR, managing operations and deciding the marketing strategy.
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Quick service restaurants (QSRs) have been segmented on the basis of product into hamburger, sandwich, pizza, Mexican and other products. Also, the QSR pizza segment has been further divided on the basis of service type into dine-in, carry out and delivery.
The US quick service restaurant (QSR) market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). The market is expected to be driven by various growth enhancing factors such as growing number of single-person households, increasing food expenditure, rising disposable income, increasing demand for fast food by the millennials, etc.
The major players dominating the US QSR market are Domino’s Pizza Inc., Yum! Brands, Inc. (Pizza Hut), Ilitch Holdings, Inc. (Little Caesars) and Papa John’s International, Inc. The four companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are rising labor cost and growing incidents of food contamination.
Major Points from Table of Contents Covered in US
Quick Service Restaurant (QSR) Market Report:
1. Executive Summary
3. The US Market Analysis
4. Market Dynamics
5. Competitive Landscape
6. Company Profiles
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