Fast Food and Quick Service Restaurant Market Size to Reach US$ 308 Billion by 2027 | CAGR of 4.9%
According to IMARC Group’s latest report, titled “Fast Food and Quick Service Restaurant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global fast food and quick service restaurant market reached a value of US$ 232.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 308 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.
A fast food and quick service restaurant (QSR) refers to casual dining setups in which pre-prepared fast foods are assembled and served to the customers. They usually provide a limited menu, and the food items are prepared in advance in bulk quantities, which are further heated and packaged for dine-in and takeaway. Fast food and quick service restaurant models offer an extensive variety of economical foods and beverages inspired by local ingredients and cuisine. Consequently, fast food and quick service restaurant solutions are in widespread demand among consumers across the globe.
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Fast Food and Quick Service Restaurant Market Trends:
The expanding food and beverage (F&B) industry and the escalating adoption of franchise business models by popular restaurant chains are among the key factors driving the fast food and quick service restaurant market. In addition to this, the shifting preferences toward on-the-go food, on account of the growing working population that has hectic schedules, are also positively influencing the global market.
Apart from this, the emerging trend of café culture and the increasing availability of healthier fast-food alternatives are acting as significant growth-inducing factors. Moreover, the development of innovative and exotic recipes utilizing organic, natural, and plant-based ingredients instead of artificial and processed substitutes by several QSRs is further stimulating the market growth.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players.
- 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
- Yum Brands Inc.
Key Market Segmentation:
The report has categorized the market based on business model, cuisine, product type and service type.
Breakup by Business Model:
- Independent
- Chain and Franchise
Breakup by Cuisine:
- American
- Chinese
- Italian
- Mexican
- Japanese
- Turkish and Lebanese
- Others
Breakup by Product Type:
- Burger and Sandwiches
- Pizzas and Pastas
- Drinks and Desserts
- Chicken and Seafood
- Others
Breakup by Service Type:
- Online Service
- Offline Service
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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