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. Fast food and quick service restaurant (QSR) is a form of casual dining arrangement that serves various pre-prepared and economical food and beverages to the customers. These outlets generally provide a limited menu that can be cooked, heated, and packed for takeaway, which, in turn, assists restaurants in saving time, utilizing standardized ingredients, and delivering quality food through varied supply channels.
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The increasing consumption of ready-to-eat (RTE) and on-the-go food and beverages, especially amongst the millennials, on account of their hectic working schedules, is currently driving the fast food and quick-service restaurant market growth. Additionally, the rapid expansion of quick-service restaurants (QSRs) that offer varying kinds of delicacies, including fusion, regional and western, is also propelling the market growth. These chains are also offering numerous other services, including drive-thru, home delivery and takeout, which, in turn, aids enterprises in maximizing their profits. Other factors, including collaborations with third-party delivery services and the widespread incorporation of technologically advanced solutions, such as touchscreen point, kitchen-display screen, and self-order kiosks, are further contributing to the market growth. Looking forward, IMARC Group expects the global fast food and quick service restaurant market to reach US$ 308 Billion by 2027, exhibiting at a CAGR of 4.9% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with 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.
Breakup by Business Model:
- Chain and Franchise
Breakup by Cuisine:
- Turkish and Lebanese
Breakup by Product Type:
- Burger and Sandwiches
- Pizzas and Pastas
- Drinks and Desserts
- Chicken and Seafood
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, 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
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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