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Quick Service Restaurant Market worth $602.51 billion by 2030, growing at a CAGR of 8.51% - Exclusive Report by 360iResearch
Quick Service Restaurant Market | 360iResearch
The Global Quick Service Restaurant Market to grow from USD 340.03 billion in 2023 to USD 602.51 billion by 2030, at a CAGR of 8.51%.
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Quick-service restaurants (QSRs) are restaurants that focus on convenient food service by offering menu items such as burgers, sandwiches, salads, wraps, and other similar foods that can be prepared and served fast. Customers appreciate the speed of service QSRs provide, and many QSRs offer various promotions and discounts, which helps draw customers. The quick-service restaurant (QSR) industry has seen an increase in popularity amongst young consumers due to the convenience of fast food. There have been efforts to improve customer satisfaction through seasonal additions of new dishes and drinks by QSR outlets. Despite this growth, high operating costs and concerns associated with maintaining food quality and consistency control impede the market growth. QSRs widely focus on product quality assurance to achieve a trusted customer base, and market players constantly invest in franchising and marketing to expand their global presence. QSRs are adopting self-service and AR/VR technologies to engage their customers better while providing loyalty programs and avid discounts on food and drinks.
The QSR market is constantly advancing in the Americas region, driven by the presence of established convenient food chains and the preference of the local population to consume outside fast-food. The rise of food delivery and digital transformation has further assisted in elevating the market growth in the region. The regional players in the U.S. and Canada are also providing diverse offerings to meet the preference of different countries and ethnicities. Europe, characterized by well-recognized independent and franchise-based QSRs, is shifting to health-conscious and ethical options. The region has a strong travel industry across France, Italy, and the UK, enabling players to achieve a larger customer base. The inclination of the youth population towards low-priced, easy-to-go menus and eating options and increased participation of women in the workforce, rising living standards in cities such as London, Seoul, Shanghai, Los Angeles, Mumbai, and others provide considerable scope for the expansion of QSRs. The U.S. and Europe have also started to introduce tools that enable them to administer and assure service quality standards within quick-service restaurants.
Market Segmentation & Coverage:
This research report categorizes the Quick Service Restaurant Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Hamburgers, Pizzas, Sandwiches, and Tacos & Burritos. The Hamburgers commanded largest market share of 21.67% in 2023, followed by Pizzas.
Based on Cuisine Type, market is studied across American Cuisine, Chinese Cuisine, French Cuisine, Greek Cuisine, Indian Cuisine, Italian Cuisine, Japanese Cuisine, Mexican Cuisine, Spanish Cuisine, and Turkish & Lebanese Cuisine. The American Cuisine commanded largest market share of 15.11% in 2023, followed by Chinese Cuisine.
Based on Structure, market is studied across Chained and Independent. The Independent commanded largest market share of 57.32% in 2023, followed by Chained.
Based on Service Type, market is studied across Drive-Through, Eat-In, Home Delivery, and Take Away. The Eat-In commanded largest market share of 51.23% in 2023, followed by Home Delivery.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.92% in 2023, followed by Americas.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Quick Service Restaurant Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Quick Service Restaurant Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Quick Service Restaurant Market, highlighting leading vendors and their innovative profiles. These include American Dairy Queen Corporation, Big Boy Restaurant Group LLC, Bojangles' Restaurants, Inc., Carl's Jr. Restaurants LLC, Chick-fil-A, Inc., Chipotle Mexican Grill, Inc., Church's Texas Chicken, Culver Franchising System, LLC, Domino's Pizza Inc., Drunken Monkey, Fireaway Pizza, Hunt Brothers Pizza, LLC, Inspire Brands, Inc., Jack in the Box Inc., Little Caesar Enterprises, Inc., Long John Silver's, LLC, McDonald's Corporation, Panda Restaurant Group, Inc., Panera Bread, Papa John's International, Inc., Quiznos, Restaurant Brands International Inc., Starbucks Corporation, Steak n Shake Enterprises, Inc., Subway, The Wendy's Company, Whatabrands LLC, Wok&Go Franchise Uk Limited, Yum! Brands, Inc., Yörpas Yöresel Gıdaler Pazarlama A.Ş., and Zaxby's SPE Franchisor LLC.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Quick Service Restaurant Market, by Product
7. Quick Service Restaurant Market, by Cuisine Type
8. Quick Service Restaurant Market, by Structure
9. Quick Service Restaurant Market, by Service Type
10. Americas Quick Service Restaurant Market
11. Asia-Pacific Quick Service Restaurant Market
12. Europe, Middle East & Africa Quick Service Restaurant Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Quick Service Restaurant Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Quick Service Restaurant Market?
3. What is the competitive strategic window for opportunities in the Quick Service Restaurant Market?
4. What are the technology trends and regulatory frameworks in the Quick Service Restaurant Market?
5. What is the market share of the leading vendors in the Quick Service Restaurant Market?
6. What modes and strategic moves are considered suitable for entering the Quick Service Restaurant Market?
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About 360iResearch
360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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