Fast Food and Quick Service Restaurant Market Report
Fast Food and Quick Service Restaurant Market Report by Business Model (Independent, Chain and Franchise), Cuisine (American, Chinese, Italian, Mexican, Japanese, Turkish and Lebanese, and Others), Product Type (Burger and Sandwiches, Pizzas and Pastas, Drinks and Desserts, Chicken and Seafood, and Others), Service Type (Online Service, Offline Service), and Region 2024-2032
The global fast food and quick service restaurant market size reached US$ 255.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 370.8 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 255.4 Billion
Market Forecast in 2032
US$ 370.8 Billion
Market Growth Rate 2024-2032
4.1%
A food and quick service restaurant (QSR) refers to a casual dining setup, in which pre-prepared fast food is assembled and served to the customers. These outlets usually offer a limited menu and the food is prepared in advance in bulk quantities, which is further heated and packaged for take away or dine-in. They provide a wide variety of economical foods and beverages, such as burgers, sandwiches, pizzas, pastas, soft and alcoholic drinks, desserts, cakes, pastries, chicken, seafood, etc., and which are inspired by the local ingredients and cuisine. Apart from this, these restaurants are usually a part of an existing restaurant chain or franchise operation that provides standardized ingredients and/or partially prepared foods to the restaurants through controlled supply channels.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Significant growth in the food and beverage industry, along with the widespread adoption of franchise business models by popular restaurant chains, is one of the key factors creating a positive outlook for the market. Furthermore, the increasing working population and improving consumer lifestyles across the globe have enhanced the consumption of fast food products. Also, due to the hectic schedules, there is widespread adoption of on-the-go food products that can be readily purchased and consumed while traveling. This, consequently, is creating a positive outlook for the market. Additionally, the emerging café culture, coupled with the availability of healthier fast food alternatives, is acting as another growth-inducing factor. QSRs are developing innovative and exotic recipes using natural, organic and plant-based ingredients, instead of artificial and processed substitutes, and are gaining immense traction among health-conscious consumers. Other factors, including modernization and digitization of the restaurants, coupled with the utilization of touchscreen kiosks, kitchen-display screens and digital sales terminal, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global fast food and quick service restaurant market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on business model, cuisine, product type and service type.
Breakup by Business Model:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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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:
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North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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 and Yum Brands Inc.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Business Model, Cuisine, Product Type, Service Type, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
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 and Yum Brands Inc.
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global fast food and quick service restaurant market was valued at US$ 255.4 Billion in 2023.
We expect the global fast food and quick service restaurant market to exhibit a CAGR of 4.1% during 2024-2032.
The sudden outbreak of the COVID-19 pandemic has led to the rising consumer inclination towards online food delivery services across several nations, owing to the temporary closure of dine-in facilities of numerous fast food and quick service restaurant to mitigate the risk of the coronavirus infection.
The emerging café culture, coupled with the increasing adoption of touchscreen kiosks, kitchen-display screens, and digital sales terminals, is primarily driving the global fast food and quick service restaurant market.
Based on the business model, the global fast food and quick service restaurant market has been divided into independent and chain and franchise, where chain and franchise exhibits a clear dominance in the market.
Based on the cuisine, the global fast food and quick service restaurant market can be categorized into American, Chinese, Italian, Mexican, Japanese, Turkish and Lebanese, and others. Currently, American accounts for the majority of the global market share.
Based on the product type, the global fast food and quick service restaurant market has been segregated into burger and sandwiches, pizzas and pastas, drinks and desserts, chicken and seafood, and others. Among these, burger and sandwiches hold the largest market share.
Based on the service type, the global fast food and quick service restaurant market can be bifurcated into online service and offline service. Currently, offline service exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global fast food and quick service restaurant market include 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, and Yum Brands Inc.
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