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Quick Service Restaurants Market

Global Quick Service Restaurant Market Size, Share, Trends: By Service Type: Self-Serviced, Assisted Self Serviced, Full Serviced; By Category: Single Outlet, QSR Chain; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

Global Quick Service Restaurants Market Outlook

The global quick service restaurants market size was valued at USD 481.08 billion in 2023. The market is further projected to grow at a CAGR of 3.7% between 2024 and 2032, reaching a value of USD 668.80 billion by 2032.

 

Key Takeaways

  • The quick service restaurants market in India was valued at approximately INR 171.9 billion in 2022 and is estimated to grow to over INR 431 billion by 2027.
  • The market size of the quick service restaurants (QSR) in the United States exceeded USD 331 billion in 2022.
  • In 2022, India had over 1,700 Domino’s Pizza stores.
  • In 2022, Subway held the title of the largest QSR chain in the USA, boasting a whopping 20,576 locations across the country.

 

Quick service restaurants (QSRs) are establishments that offer fast food and beverages at affordable prices and with minimal table service. QSRs typically have a limited menu, standardised operations, and generally a high turnover of customers.

 

Some of the factors driving the quick service restaurants market growth are increasing urbanisation and disposable income, changing consumer preferences and lifestyles, rising demand for convenience and variety, and technological innovations in food delivery and ordering systems.

 

Global Quick Service Restaurants Market

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Key Trends and Developments

Availability of order customisation, emergence of digitalisation, and increasing demand for plant-based food is fostering the quick service restaurants market development

 

Date Company Event
January 2024 Restaurant Brands International Acquisition of Carrols Restaurant Group for USD 1 billion as part of 'Reclaim the Flame' plan
December 2023 KFC Signed an agreement to acquire 218 KFC restaurants from EG Group in the UK and Ireland
October 2023 Domino's Pizza and Microsoft Formed an AI-driven innovation alliance to develop smarter pizza ordering and seamless store operations
August 2023 McDonald's India Opened first airport drive-thru outlet in Mumbai and plans to increase drive-thru outlets over the next 4-5 years
July 2023 Yum! Brands Advanced data strategy by selecting Treasure Data as its Customer Data Platform to enhance customer digital experiences

 

 

Trends Impact
Emergence of digitalisation and prompt delivery QSR operators are investing in online ordering, mobile apps, loyalty programs, self-service kiosks, and digital menus to enhance customer demand for contactless transactions and better experience. Moreover, QSR operators are partnering with third-party delivery platforms, such as Uber Eats, DoorDash, and Grubhub, to expand their reach and cater to the growing demand for online delivery.
Rising demand for plant-based and healthy options Consumers are becoming more health-conscious and are seeking plant-based alternatives to traditional meat-based products. QSR companies are responding to this trend by introducing more vegetarian, vegan, and gluten-free options, along with low-calorie and low-fat products.
Availability of customisation in food products Restaurants are allowing customers to customise their orders, such as choosing their own ingredients, toppings, sauces, and portions. For example, Subway offers the Fresh Fit menu, which allows customers to create their own sandwiches with different breads, meats, cheeses, vegetables, and dressings.
Increasing globalisation and localisation Fast food restaurants are expanding their presence in emerging markets, such as China, India, Brazil, and Russia, and adapting their menus to suit local tastes, preferences, and cultures. They are incorporating regional flavours, ingredients, and cuisines into their offerings. For example, Pizza Hut offers the Tandoori Paneer Pizza in India, the Cheeseburger Pizza in the UK, and the Durian Pizza in China.

 

Global Quick Service Restaurants Market Trends

The quick service restaurants market outlook is being shaped by the rise in demand for fast food items by the working, millennial, and Gen-Z populations. In recent years, quick service restaurants have emerged as preferred eating joints owing to the variety of food items available at cost effective prices and the augmented demand for ready-to-eat and on-the-go food items. The quick service restaurants market growth can also be associated with the increasing market penetration of these restaurants in places like shopping centres and airports. As products offered by quick service restaurants are easy to eat, the presence of these restaurants at commercial places is a key factor driving the quick service restaurants market.

 

The global market for quick service restaurants is being positively influenced by the advent of technology. The boom of online food delivery owing to its convenience, variety, and the rising market penetration of smartphones and internet accessibility is a major factor enhancing the market growth of quick service restaurants. Furthermore, technologies such as self-ordering kiosks and kitchen display screens with user-friendly interfaces are further pushing the growth of the market.

 

The upgradation of drive-thru ordering system is also accelerating the quick service restaurants market development. The integration of advanced technology like artificial intelligence (AI) by leading market players to propel the drive thru process is augmenting the sales by quick service restaurants, thereby boosting the growth of the market. In addition to this, the introduction of unique packaging techniques, such as innovative cup designs, to prevent spilling during transportation, is also increasing the demand for quick service restaurants.

 

Global Quick Service Restaurants Market

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Market Segmentation

Global Quick Service Restaurants Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

 

Market Breakup Categories
Service Type Self-Serviced, Assisted Self Serviced, Full Serviced
Category Single Outlet, QSR Chain
Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa

 

Self-serviced restaurants are expected to hold a significant market share as they offer convenience and speedy food delivery

According to the quick service restaurants market analysis, self-service restaurants are the most dominant segment. The self-service quick service restaurants are those that offer counter service or drive-through service to customers. Customers order and pay at the counter or window and receive their food and beverages in disposable packaging. Serviced QSRs are popular for their convenience, speed, and affordability. Some of the leading serviced QSRs in the world are McDonald's, KFC, Subway, Burger King, and Starbucks.

 

Assisted self-serviced QSRs are those that offer self-ordering kiosks, mobile apps, or online platforms to customers. Customers place and pay for their orders through these digital channels and collect their food and beverages from a designated area or a staff member. According to quick service restaurants market insights, assisted self-service QSRs are attractive for their enhanced customer experience, reduced labour costs, and increased operational efficiency. Some of the prominent assisted self-serviced QSRs in the world are Domino's, Taco Bell, Panera Bread, and Dunkin' Donuts.

 

Full serviced QSRs are those that offer table service or delivery service to customers. Customers are seated and served by a waiter or waitress, or order and pay online or by phone, and receive their food and beverages at their doorstep. Full serviced QSRs are expected to hold a steady quick service restaurants market share in the future as they are preferred for their quality, variety, and ambiance. Some of the notable full serviced QSRs in the world are Pizza Hut, Denny's, IHOP, and Applebee's.

 

QSR chains aids in market expansion due to their ability to easily franchise in international markets

QSR chains will likely lead the quick services restaurant market share in the forecast period as they have a standardised and consistent menu, service, and quality across their outlets. They also have a strong brand image, customer loyalty, and marketing strategy. QSR chains can leverage their large network, supply chain, and technology to reduce costs, increase efficiency, and enhance customer satisfaction. They can also expand their presence and reach in new markets and regions through franchising or acquisitions. Some examples of QSR chains are McDonald's, KFC, and Subway.

 

Single outlet QSRs, on the other hand, are characterised by their low-cost menus, limited service, and high convenience. They cater to local customers who seek fast and affordable food options. Single outlet QSRs face intense competition from QSR chains, which have more resources, brand recognition, and economies of scale. However, the quick services restaurant market estimates that single outlet QSRs can also benefit from their flexibility, customisation, and differentiation. They can offer unique menus, flavours, and experiences that appeal to niche markets or specific preferences.

 

Global Quick Service Restaurants Market

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Competitive Landscape

Market players are focusing on expanding their product portfolio, enhancing their distribution network, and investing in research and development to cater to the evolving needs of the consumers

 

Company Name Year Founded Headquarters Products/Services
Subway IP LLC 1965 Connecticut, United States Submarine sandwiches, salads, wraps, cookies, drinks
McDonald's Corporation 1955 Illinois, United States Burgers, fries, chicken nuggets, breakfast items, coffee, soft drinks, desserts
Restaurant Brands International Inc. 2014 Ontario, Canada Burgers, chicken sandwiches, fries, coffee, donuts, ice cream (Burger King, Tim Hortons, Popeyes)
Yum! Brands, Inc. 1997 Kentucky, United States Pizza, pasta, wings, tacos, burritos, fried chicken, biscuits, rice bowls (Pizza Hut, KFC, Taco Bell, WingStreet, The Habit Burger Grill)

 

Other key players in the global quick service restaurants market include The Wendy's Company and Domino's Pizza, Inc., among others.

 

Global Quick Service Restaurants Market Analysis by Region

North America has the largest presence of quick service restaurants due to rising demand for fast food and expansion of QSR chains

North America is the largest and most mature quick service restaurant market in the world, where the region is dominated by the US, which has the highest number of QSR outlets and the highest per capita spending on fast food. The United States quick service restaurant market is expected to grow due to increasing consumer demand for convenience, innovation, and customisation, as well as the expansion of online and mobile ordering platforms, delivery services, and drive-thru options.

 

Asia Pacific holds the fastest-growing QSR market share due to increasing disposable income and growing penetration of international QSR chains. Furthermore, according to quick service restaurant market report, the growth of the market in European region is driven by factors such as increasing consumer demand for convenience, variety, and value for money, along with the expansion of online and mobile ordering platforms, delivery services, and drive-thru options.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Service Type
  • Category
  • Region
Breakup by Service Type
  • Self-Serviced
  • Assisted Self Serviced
  • Full Serviced
Breakup by Category
  • Single Outlet
  • QSR Chain
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Subway IP LLC
  • McDonald's Corporation
  • Restaurant Brands International Inc.
  • Yum! Brands, Inc.
  • The Wendy's Company
  • Domino's Pizza, Inc.
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Quick Service Restaurants Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Quick Service Restaurants Historical Market (2018-2023) 
    8.3    Global Quick Service Restaurants Market Forecast (2024-2032)
    8.4    Global Quick Service Restaurants Market by Service Type
        8.4.1    Self-Serviced
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Assisted Self Serviced
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Full Serviced
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Quick Service Restaurants Market by Category
        8.5.1    Single Outlet
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    QSR Chain
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Quick Service Restaurants Market by Region       
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032) 
9    North America Quick Service Restaurants Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Quick Service Restaurants Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Quick Service Restaurants Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Quick Service Restaurants Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Quick Service Restaurants Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Subway IP LLC
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    McDonald's Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Restaurant Brands International Inc.
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Yum! Brands, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    The Wendy's Company
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Domino's Pizza, Inc.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Quick Service Restaurants Market: Key Industry Highlights, 2018 and 2032
2.    Global Quick Service Restaurants Historical Market: Breakup by Service Type (USD Billion), 2018-2023
3.    Global Quick Service Restaurants Market Forecast: Breakup by Service Type (USD Billion), 2024-2032
4.    Global Quick Service Restaurants Historical Market: Breakup by Category (USD Billion), 2018-2023
5.    Global Quick Service Restaurants Market Forecast: Breakup by Category (USD Billion), 2024-2032
6.    Global Quick Service Restaurants Historical Market: Breakup by Region (USD Billion), 2018-2023
7.    Global Quick Service Restaurants Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.    North America Quick Service Restaurants Historical Market: Breakup by Country (USD Billion), 2018-2023
9.    North America Quick Service Restaurants Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.    Europe Quick Service Restaurants Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    Europe Quick Service Restaurants Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Asia Pacific Quick Service Restaurants Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Asia Pacific Quick Service Restaurants Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Latin America Quick Service Restaurants Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Latin America Quick Service Restaurants Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Middle East and Africa Quick Service Restaurants Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Middle East and Africa Quick Service Restaurants Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Global Quick Service Restaurants Market Structure

Key Questions Answered in the Report

In 2023, the quick service restaurants market reached an approximate value of USD 481.80 billion.

The market is expected to grow at a CAGR of 3.7% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 668.80 billion by 2032.

The market is being driven by the rising demand for ready-to-eat food options owing to busy lifestyles, versatility of menus, and the strong market penetration of quick service restaurants.

Key trends aiding quick service restaurant market expansion include the incorporation of advanced technology like self-ordering kiosks and the use of artificial intelligence to streamline the food ordering process.

The major regional markets for quick service restaurants are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa.

Different types of services offered by quick service restaurants are self-serviced, assisted self-serviced, and full serviced.

The major categories of quick service restaurants are single outlet and QSR chain.

QSRs differ from fast casual restaurants in several ways. QSRs emphasise speed, efficiency, and a smaller selection of preassembled menu items, whereas fast casual restaurants offer more variety, fresher ingredients, and a more relaxed dining environment.

Key players in the 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.

Analyst Review

The global quick service restaurants market attained a value of about USD 481.08 billion in 2023, driven by the versatility of menus offered by quick service restaurants. Aided by the rising focus on technological driven operations, the market is expected to grow at a CAGR of 3.7% in the forecast period of 2024-2032 to reach nearly USD 668.80 billion by 2032.

 

EMR’s meticulous research methodology delves deep into the market covering the macro and micro aspects of the industry.  On the basis of service type, the market can be divided into self-serviced, assisted self-serviced, and full serviced. Based on category, the market can be categorised into single outlet and QSR chain. The major regional markets for quick service restaurants are North America, Latin America, the Asia Pacific, Europe, and the Middle East and Africa. The key players in the industry 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.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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