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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.
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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.
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