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Global Quick Service Restaurants Market to Grow at a CAGR of 3.73% During 2022-2027, Aided by Innovations in Packaging Designs

According to a new report by EMR titled, ‘Global Quick Service Restaurants Market Report and Forecast 2022-2027’, the global quick-service restaurants industry attained a value of about USD 447.1 billion in 2021. The market is further expected to grow at a CAGR of 3.73% during the forecast period of 2022-2027 to reach nearly USD 556.9 billion by 2027.

Quick service restaurants typically refer to fast food chains that specialise in preparing food in minimal time and are mostly associated with drive-thru and packaging. Packaging is a crucial aspect determining the growth of the industry. In recent years, quick-service restaurants have adopted innovative packaging strategies to augment the growth of the industry, such as innovative cup designs to prevent spilling in transportation and customised packaging according to the shape and size of the product, among others. In addition to this, the adoption of sustainable, biodegradable, and compostable packaging in the wake of rising environmental concerns is further attracting consumers and hence augmenting the growth of the market. The introduction of smart packaging techniques like the usage of kokoboard boxes, which can be opened up and used as plates, are providing impetus to the growth of the market.

Subway IP LLC, a leading player in the global market for quick-service restaurants, recently signed a master franchise agreement with Everstone Group, a South Asian private investment firm, in November 2021. Under the agreement, the fast-food chain aims at significantly expanding its presence in South Asian countries like India, Bangladesh, and Sri Lanka. The new restaurants will adopt the company’s new modern and inviting “Fresh Forward” design and meet the needs of consumers by providing dining and delivery options via channels like Zomato (NSE: ZOMATO) and others. The agreement is one of the largest master franchise agreements in the history of quick-service restaurants and is therefore predicted to invigorate the market in the coming years.

Market Analysis by Service Type, Category, and Region:

  • On the basis of service type, the market can be divided into self-serviced, assisted self-service, and full service. 
  • Based on category, the market can be categorised into a single outlet and QSR chain.
  • The major regional markets for the product include North America, Latin America, Europe, the Asia Pacific and the Middle East and Africa.

Key Findings of the Report:

  • The market is being the strong market penetration of quick-service restaurants in commercial places like shopping malls and airports owing to the rising consumer preference for ready-to-eat foods.
  • The growth in the market can be associated with the versatility of menus offered by quick-service restaurants to meet the rising trends of veganism, clean-label products, and healthy food products.
  • The rising use of advanced digital technology such as self-ordering kiosks with user-friendly interfaces and Artificial Intelligence (AI) to streamline drive-thru deliveries are invigorating the market growth.
  • The introduction of innovative, sustainable, and customised packaging techniques is positively influencing the growth of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global quick-service restaurants' industry for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) markets for service types, categories, and major regions.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global quick-service restaurants market are Subway IP LLC, McDonald's Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., The Wendy's Company, and Domino's Pizza, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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