Quick Service Restaurants Market Outlook

The global quick service restaurants (QSR)market size is projected to reach approximately USD 577.71 billion by 2028, at a CAGR of 3.65% from 2021 to 2028. A quick service restaurant is a type of food service outlet which aims to provide consumers with food as quickly and efficiently as possible. The term ‘quick-serve’ is often synonymous with ‘fast food’ and a majority of QSRs operate as chain restaurants using a franchise model. Most of the QSR environments are centred around functionality, with speed and efficiency being a primary goal. Few characteristics of a QSR are that price point generally ranges from USD 5-8 per meal; limited menus generally consisting of handheld sandwiches or burgers, wraps, and a limited selection of pre-packaged salads; they usually offer plastic seating and tabletops; table services are rarely offered; and the food is most often taken to-go.

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Key Players of quick service restaurants market

  • Subway IP LLC (US)
  • McDonald's Corporation (US)
  • Restaurant Brands International Inc. (Canada)
  • Yum! Brands, Inc. (US)
  • The Wendy's Company (US)
  • Domino's Pizza, Inc. (US)
  • Papa John's International, Inc. (US)
  • Wallace, Fujian Food Co., Ltd. (CNHLS) (China)
  • Inspire Brands, Inc. (US)
  • The Coca-Cola Company (Costa Coffee) (US)

By Region

North America: North America dominated the global quick service restaurants market in 2020. Strong real estate industry, presence of popular QSR chains, and hectic schedule have impacted the lifestyle of Americans. Growing travel and tourism industry; increasing number of emigrants; presence of diverse food culture; and wide availability of a range of cuisines have led to the growing demand for QSRs in the region.

  • Europe:
  • Asia-Pacific: Asia-Pacific is a new revenue pocket for the quick service restaurants market The growing population in China and India has created an opportunistic market for the existing players. Increasing exposure to international cuisine and culture and the willingness to experiment with food items have further fuelled the regional market growth. Additionally, attractive seasonal offers and happy hour discounts offered by QSRs are further aiding to the growth in Asia-Pacific.
  • Rest of the World

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