Quick Service Restaurant (QSR) Market Size Set to Reach New Heights in the Coming Years USD 713.29 Billion in the year 2021

The Global QSR Market was valued at USD 713.29 Billion in the year 2021. With the increased disposable income in highly populated countries such as China and India, the growth rate of the QSR market is increasing and is expected to grow further in upcoming years. The Home Delivery segment is expected to be growing tremendously in the Global QSR Market because after the pandemic, people want to avoid physical contact with much crowded places and along with that so many convenient and easy online ordering options are there to place orders and enjoy the favourite food with all comforts at home.

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Global industries were impacted by the Russia-Ukraine War, which started in February 2022. There have been widespread announcements of strict travel restrictions over Ukrainian airspace. The market in 2022 has been damaged by the Russia-Ukraine War. The conflict between Russia and Ukraine raises defense spending and fortifies NATO nations' armed forces. Due to Russia's invasion, the majority of European nations have raised their defense budget. Germany earmarked USD 109 billion, which is more than the whole cost of the military in 2021, increasing its defense spending above 2% of GDP.

With COVID-19 having altered and still in the process of altering the definition of normal across the world, most industries are still scrambling to adjust. The effect on the restaurant industry has been particularly dramatic. With restaurants and pubs closed for sit-down service, many establishments are struggling to keep their heads above water. On the other hand, places that are able to offer delivery and pick-up options are seeing large increases in order volumes. Meal kit delivery services are also seeing a major surge in interest.

Asia Pacific region is anticipated to grow enormously in the market on account of increasing middle-income group and rapid urbanization. Furthermore, the presence of some key market players in the region also supports the market growth in this region throughout the forecast period and beyond.

Further, the demand for Italian cuisine is comparatively higher as compared to other cuisines of this category globally. People have different preferences, choices and priorities when it comes to the tastes and uniqueness of food for themselves which is an important factor to drive the market growth of a particular region or a country.

Scope of the Report:

The companies analysed in the report include McDonalds, The Wendys Company, Restaurants Brand International, Bloomin Brands, Ark Restaurant Corporation, Starbucks Corporation, Chipotle Mexican Grill, Carrols Restaurant Group, Yum! Brands Inc., Subway.

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The report analyses the QSR Market by Service Type (Eat-in, Take way, Home Delivery).
The report analyses the QSR Market by Business Model (Independent, Chain & Franchise).
The report analyses the QSR Market by Cuisine Type (Italian, Chinese, Japanese, Other).
The report analyses the QSR Market by Delivery Mode (Dine in & Drive Thru) and by Ownership (Company Owned and Franchised) (Number of Stores).
The report also analyses the North American, U.K., Japan and Indian QSR Market Brand Wise Number of Stores Snapshot (McDonalds, Starbucks, KFC, Subway, Taco Bell, Pizza Hut, Tim Hortons, Burger King, Wendys and Dominos) *

The Global QSR Market has been analysed by countries (United States, Canada, United Kingdom, Germany, Italy, France, China, Japan, India, Mexico).

The key insights of the report have been presented through the frameworks of SWOT and Porters Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by Service type, by Business Model, by Cuisine Type.

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This release was published on openPR.