According to market research, the global market size for fast food quick service restaurants reached USD 600.13 billion in 2022 and is projected to reach USD 931.0 billion by 2032, with a 5% revenue CAGR during the forecast period. The increasing popularity of smartphone ordering and delivery options is a significant contributor to the market's revenue growth. The availability of a diverse range of food products at reasonable prices, especially in emerging economies with a growing middle class, is expected to drive market growth. Moreover, governments' implementation of stringent regulations to ensure food safety and sanitation has bolstered public confidence in fast food and quick service establishments.
Furthermore, the expanding popularity of fast food chains and the recognition of their brands have resulted in a greater number of franchise options, leading to more revenue growth. Fast food companies are entering new markets, thus propelling the market's revenue growth. In addition, these companies are investing significantly in marketing and advertising efforts, which has enhanced customer loyalty and brand recognition.
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Top Profiled Companies in the Global Quick Service Restaurants (QSR) Market Report:
- McDonald’s Corporation
- Yum! Brands Inc.
- Restaurant Brands International Inc.
- Subway
- Wendy’s
- Burger King
- Dunkin' Brands Group Inc.
- Domino's Pizza Inc.
- Papa John's International Inc.
- Taco Bell Corporation
Major Driving Factors For Quick Service Restaurants (QSR) Market:
- Convenience: The increasing availability of smartphone ordering and delivery options has made it more convenient for customers to order food quickly and easily.
- Affordable pricing: The accessibility of a wide range of food products at reasonable rates, particularly in emerging economies where the middle class is growing, has increased the market's revenue growth.
- Government regulations: The implementation of strict regulations in response to the need for food safety and sanitation has strengthened public trust in fast food and quick service businesses.
- Brand recognition: Fast food chains' recognition and popularity have resulted in a greater number of franchise options, leading to more revenue growth.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Service Type Outlook:
- Drive-thru
- Takeaway
- Dine-in
- Home Delivery
- Others
Cuisine Type Outlook:
- Burgers/Sandwiches
- Pizza/Pasta
- Chicken
- Asian
- Others
Key Takeaways of the Global Quick Service Restaurants (QSR) Market Report:
- A comprehensive overview of the global Fast Food Quick Service Restaurants industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Quick Service Restaurants (QSR) Market.
- Elaborate study of the leading regional markets in the global Quick Service Restaurants (QSR) Market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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