Market Overview

From 2022 to 2030, the global quick-service restaurant (QSR) market is expected to grow at a CAGR of 3.65 percent, reaching USD 603.3 billion.

The terms "quick-serve" and "fast food" are often used interchangeably, as well as the overwhelming majority of Quick Service Restaurants (QSR) Market research being franchised chain restaurants. The bulk of QSR environments is premium on functionality, with performance and power as the top priorities. A limited menu consisting mostly of wraps, portable sandwiches or burgers, and a small selection of pre-packaged salads; plastic seats and tabletops; restaurant service is seldom provided; and food is often taken to-go are just a few of the features of a QSR.

Market Segmentation

By Service Type

Self-Serviced: These QSRs offer a self-order menu that benefits both the restaurateurs and the customers. Orders placed at self-service QSRs generate more income for each transaction because the order value is typically larger, and table service is not required. Self-order menus not only help restaurants improve sales and cut labour costs, but they also give customers more control over their food and beverages orders. Customers can use a touch-screen menu over a stationary iPad kiosk (Kiosk mode) or perhaps an iPad at their table to place their orders (Table mode).

Consumers prefer to invest more money at self-service apps and kiosks than at other restaurants; thus, several QSR chains are focused on them. Self-service QSRs also improve the customer experience by speeding up the ordering process, decreasing human error, and facilitating order personalization. These variables are expected to help segmental growth globally during the projection period.

Assisted Self Serviced

By Category

Single Outlet:

QSR Chain: Due to the growing number of foodservice outlets worldwide, this category held the largest market share throughout 2020. QSR chains are formed to grow geographical presence, address differences in culture and traditions, and cater to regional and local tastes. Furthermore, QSRs' popularity is sustained across all locations due to consistent flavour, service, quality, and hygiene. As a result, QSRoutlets' expanding geographical footprints are propelling global market expansion.

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Regional Classification

North America: In 2020, North America will dominate the global worldwide QSR market. The area's expanding demand for QSRs is due to the region's developing travel and tourism business, a rising proportion of emigrants, the existence of diversified food culture, and extensive availability of a variety of cuisines. The strong real estate business, the existence of popular QSR chains, and Americans' demanding schedules have all impacted their way of life.

Asia-Pacific: For the Quick Service Restaurants (QSR) Market Overview, Asia-Pacific is a fresh revenue source. The expanding populations of China and India have provided a lucrative market for existing businesses. Increased exposure to global cuisine and culture and a willingness to try new foods have spurred regional market expansion. In addition, QSRs' appealing seasonal deals and happy hour discounts are helping to boost development in Asia-Pacific.

Industry News

Quick service and fast-food restaurants have arisen as a major source of mass-produced cuisine, attracting a growing number of individuals to sample and appreciate their products. The fast-food and quick-service restaurant industries are driven by convenience, excellent flavour, and cost-effectiveness regarding time and money. The quick growth of the global QSR market is directly proportional to the growth of the international tourism industry.

Key Players are:

Domino's Pizza Inc. (US), The Wendy's Company (US), Subway IP LLC (US), Restaurants brand International Inc. (Canada), Inspire Brands Inc. (US), Papa John's International Inc. (US), The cola-cola company (US), Wallace Fujian food co. Ltd (China)

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