The global fast food and quick service restaurant market reached a value of US$ 260 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.1% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
A food and quick service restaurant (QSR) refers to a casual dining setup, in which pre-prepared fast food is assembled and served to the customers. These outlets usually offer a limited menu and the food is prepared in advance in bulk quantities, which is further heated and packaged for take away or dine-in. They provide a wide variety of economical foods and beverages, such as burgers, sandwiches, pizzas, pastas, soft and alcoholic drinks, desserts, cakes, pastries, chicken, seafood, etc., and which are inspired by the local ingredients and cuisine. Apart from this, these restaurants are usually a part of an existing restaurant chain or franchise operation that provides standardized ingredients and/or partially prepared foods to the restaurants through controlled supply channels.
Significant growth in the food and beverage industry, along with the widespread adoption of franchise business models by popular restaurant chains, is one of the key factors creating a positive outlook for the market. Furthermore, the increasing working population and improving consumer lifestyles across the globe have enhanced the consumption of fast food products. Also, due to the hectic schedules, there is widespread adoption of on-the-go food products that can be readily purchased and consumed while traveling. This, consequently, is creating a positive outlook for the market. Additionally, the emerging caf? culture, coupled with the availability of healthier fast food alternatives, is acting as another growth-inducing factor. QSRs are developing innovative and exotic recipes using natural, organic and plant-based ingredients, instead of artificial and processed substitutes, and are gaining immense traction among health-conscious consumers. Other factors, including modernization and digitization of the restaurants, coupled with the utilization of touchscreen kiosks, kitchen-display screens and digital sales terminal, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fast food and quick service restaurant market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, business model, cuisine, product type and service type.
Breakup by Business Model:
Chain and Franchise
Breakup by Cuisine:
Turkish and Lebanese
Breakup by Product Type:
Burger and Sandwiches
Pizzas and Pastas
Drinks and Desserts
Chicken and Seafood
Breakup by Service Type:
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being 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 and Yum Brands Inc. Key Questions Answered in This Report:
How has the global fast food and quick service restaurant market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global fast food and quick service restaurant market?
What are the key regional markets?
What is the breakup of the market based on the business model?
What is the breakup of the market based on the cuisine?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the service type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global fast food and quick service restaurant market and who are the key players?
What is the degree of competition in the industry?