Quick Service Restaurants (QSR) Market Size, Share, Trends, Industry Analysis Report: By Type (Independent and Chain), Cuisine, Service, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Dec-2024
- Pages: 128
- Format: PDF
- Report ID: PM2460
- Base Year: 2023
- Historical Data: 2020-2023
Quick Service Restaurants Market Overview
The Quick Service Restaurants Market size was valued at USD 289.68 billion in 2024. The market is projected to grow from USD 303.61 billion in 2025 to USD 468.98 billion by 2034, exhibiting a CAGR of 4.9% during 2025–2034.
The Quick Service Restaurants Market focuses on providing fast, convenient, and affordable meals with minimal table service. QSRs offer a standardized menu, mostly fast food items, with a strong emphasis on quick service and operational efficiency. These establishments typically feature counter or drive-thru service, with limited or no sit-down dining options. The changing lifestyles of consumers, combined with a growing preference for convenience food, contribute to the global QSR market growth. This shift in consumption patterns, driven by increasingly busy schedules and the rising penetration of e-commerce channels, is expected to expand the quick service restaurants market demand significantly. Moreover, the QSR sector is witnessing substantial traction among the younger population due to its focus on takeout, home delivery, and various quick-service options designed to enhance user experience and align with modern consumer expectations.
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Quick Service Restaurants Market Trend Analysis
Growing Presence of International Fast-Food Restaurants
The rapid expansion of global fast-food brands has been propelled by increasing Western influence, which has fueled the rise of fast-food culture in numerous countries. The share of out-of-home consumption of Western food is now dominated by international chains and franchises, further driving the QSR market demand globally. Particularly, the economic growth of North America over the past decade has played a crucial role in the expansion of international fast-food restaurants. As reported by the American Ministry of Industry and Trade, nearly 235 foreign brands, including fast-food chains, bakeries, cafés, and other restaurants, registered as franchising businesses in the US as of 2020. This accounted for over 50% of the total franchises granted in the country. The US, along with countries such as Canada, Australia, South Korea, Singapore, Thailand, Japan, and the Philippines, has become a key hub for international fast-food franchise expansion.
In March 2022, Jollibee Food Corporation, a subsidiary of the Philippines' Jollibee Group, opened its 150th store in Vietnam, a significant milestone in its market expansion. The company also owned 100 stores across the country as of 2021. Similarly, in 2021, Lotteria, a subsidiary of South Korea’s Lotte Group, announced its plans to further expand its investment in Asia by opening over 28 new fast-food stores and building a new food material factory in Long Hau Industrial Park in Vietnam. This growing presence of international brands in key global markets is contributing to the Quick Service Restaurants Market expansion.
Increasing Internet Connectivity and Consumer Spending
The rapid growth of internet connectivity and higher consumer spending are key drivers for the Quick Service Restaurants Market. As more people gain access to the internet, online ordering, food delivery services, and mobile apps have become crucial for QSRs to reach a wider customer base. The rise in consumer spending also enables customers to dine out more frequently and opt for convenient meal options, such as fast food. The increasing preference for online ordering and the convenience of home delivery are driving QSRs to expand their digital presence and invest in technology, further boosting market growth.
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Quick Service Restaurants Market Segment Insights
Quick Service Restaurants Market Assessment by Type Outlook
The global Quick Service Restaurants Market segmentation, based on type, includes independent and chain. In 2024, the independent segment accounted for a larger share with more than 60% in the Quick Service Restaurants Market revenue due to rising consumer preference for unique and personalized dining experiences, often found in locally-owned establishments. Unlike chain restaurants, independent QSRs have the flexibility to innovate with their menus, incorporating regional flavors and seasonal ingredients, which appeals to customers seeking authenticity and variety.
The growing trend of supporting local businesses has played a crucial role in boosting the independent segment. Consumers are increasingly drawn to independent QSRs for their community-centric approach, personalized customer service, and distinctive brand identity. Moreover, many independent operators have successfully adopted digital tools, such as online ordering platforms, delivery apps, and social media marketing, to enhance their reach and customer engagement, allowing them to compete effectively with larger chains.
Quick Service Restaurants Market Evaluation by Services Outlook
The global quick service restaurants market segmentation, based on services, includes eat-in, takeaway, drive-through, and home delivery. The drive-through segment is expected to witness the highest CAGR of 7.2% during the forecast period due to increasing consumer demand for convenience, reduced wait times, and contactless service options. The rising adoption of digital ordering technologies, such as mobile apps and automated stalls, further enhances the efficiency of drive-through services. Additionally, the segment benefits from heightened consumer preferences for on-the-go dining solutions, particularly in urban areas with high traffic congestion and busy lifestyles.
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Quick Service Restaurants Market Regional Analysis
By region, the study provides QSR market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2024, North America accounted for the largest share of more than 33% of the global Quick Service Restaurants Market revenue due to a deep-rooted culture of fast dining and continuous innovation in service models. The region’s QSR landscape thrives on its ability to adapt to evolving consumer preferences, such as the growing demand for personalized menu options and seamless digital experiences. Moreover, North America's advanced infrastructure for drive-through and delivery services, coupled with increasing investments in AI-driven customer engagement and order management systems, has elevated operational efficiency and customer satisfaction. As of October 2023, Starbucks has significantly expanded its presence in North America, with a total of 17,810 stores. This includes 10,628 company-operated stores and 7,182 licensed stores. The company's aggressive expansion strategy in the region highlights its dominance in the quick service restaurant market, driven by its strong brand recognition, wide variety of menu offerings, and innovative customer experience initiatives such as mobile ordering and delivery. This dynamic combination of tradition and technological advancement positions North America as a frontrunner in shaping the global quick service restaurants (QSR) industry.
The US accounted for the largest share of the Quick Service Restaurants Market in 2024 due to the increasing consumption of fast food. Moreover, QSRs have adapted their menus to cater to changing consumer preferences, offering healthier options, plant-based meats, and diverse international flavors, further driving the US QSR market growth.
The Asia Pacific Quick Service Restaurants Market is expected to witness the highest CAGR of 6.9% during the forecast period due to the region’s well-served domestic and international fast food restaurant chains. McDonald's, Burger King, and KFC are among the region's most popular American restaurant chains. Trung Nguyen Coffee in Vietnam, Kebab Turki Baba Raffi in Indonesia, Café Amazon in Thailand, and Jollibee Foods in the Philippines are among the domestic fast-food restaurants. A few major factors driving the regional market growth are increasing industrialization, rapid growth of the food & beverage industry, and rising public and private sector investments. Furthermore, the increasing youth population, rising demand for convenience foods, and the growth of developing countries such as China, India, and Australia are all contributing to the QSR market demand. For instance, according to the United Nation, over 60% of the global youth population resides in Asia Pacific, representing over 750 million individuals between the ages of 15 and 24.
The India quick service restaurants market is expected to witness the highest CAGR of 7.3% in Asia Pacific over the forecast period due to the rapidly expanding urban population, increasing disposable income, and a growing middle-class population. The adoption of digital technologies and the expansion of e-commerce are further fueling the market growth.
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Quick Service Restaurants Market – Key Players and Competitive Analysis Report
The competitive landscape of the QSR market is characterized by dynamic partnerships, collaborations, and mergers and acquisitions among key players striving to maintain market dominance. Major QSR companies are increasingly entering strategic partnerships to expand their product offerings and geographic reach, leveraging the expertise and resources of other industry leaders. Collaborations between food delivery platforms and QSR chains are also becoming more prevalent, enhancing convenience and accessibility for customers. Mergers and acquisitions have further intensified competition as established companies seek to acquire innovative brands and diversify their portfolios. For instance, large QSR players are acquiring a smaller, regional chains to broaden their market presence and capture emerging consumer trends. As competition intensifies, these strategic moves enable companies to stay ahead in an increasingly fragmented market, offering new products, technological advancements, and improved customer experiences. The evolving competitive landscape reflects the industry's adaptability and growth potential amidst shifting consumer preferences. A few key major players are McDonald's Corp; Restaurant Brands International Inc. (RBI); Starbucks Corp; The Wendy's Co (Wendy's); Ark Restaurants Corp (Ark Restaurants); Carrols Restaurant Group Inc.; Chipotle Mexican Grill Inc.; Yum! Brands, Inc. (YUM); Domino's Pizza Inc.; Jack in the Box Inc.; Subway IP Inc.
Starbucks Corp (Starbucks) is a specialty coffee retailer. It roasts, markets, and retails specialty coffee. The company, through its stores, offers several blends of coffee, handcrafted beverages, merchandise, and food items. Starbucks also offers whole bean and ground coffee, readymade drinks, snacks, and other beverages. Starbucks Corp brands include Teavana, Evolution Fresh, Starbucks Reserve, Princi, Seattle’s Best Coffee, and Ethos. The company, through its owned and licensed stores, has a presence in Asia Pacific, the Middle East, Africa, Europe, and the Americas. The company operates roasting, manufacturing facilities, warehouse, and distribution facilities in Nevada, Pennsylvania, Tennessee, and Washington in the US and China. It is headquartered in Seattle, Washington, the US. In July 2021, Nestlé and Starbucks Corporation collaborated to bring Starbucks Ready-to-Drink (RTD) coffee beverages to target markets across Southeast Asia, Oceania, and Latin America.
Restaurant Brands International Inc (RBI) is a quick-service restaurant operator. The company owns, operates, and franchises restaurants under Tim Hortons, Popeyes, Firehouse Subs, and Burger King brand names. Tim Hortons restaurants offer premium tea, blend coffee, espresso-based hot and cold specialty drinks, classic sandwiches, grilled paninis, wraps, and soups. RBI also offers fresh baked goods such as donuts, cookies, bagels, muffins, and pastries. The company’s Popeyes restaurants offer spicy chicken, fried shrimp, other seafood, chicken tenders, and red beans and rice. Burger King restaurants offer flame-grilled hamburgers, chicken and other specialty sandwiches, soft drinks, and French fries. Firehouse Subs offers hot subs piled with cheese and meat, chopped salads, soft drinks, and local specialties. The company has operations in more than 100 countries. RBI is headquartered in Toronto, Ontario, Canada. In March 2022, Tim Hortons Inc., the largest quick-service restaurant (QSR) chain in Canada, entered the Indian market with its first outlet in Delhi-NCR, before expanding its store count to 250 over the next five years.
Key Companies in Quick Service Restaurants Market
- McDonald's Corp
- Restaurant Brands International Inc. (RBI)
- Starbucks Corp
- The Wendys Co (Wendy’s)
- Ark Restaurants Corp (Ark Restaurants)
- Carrols Restaurant Group Inc.
- Chipotle Mexican Grill Inc.
- Yum! Brands, Inc. (YUM)
- Domino's Pizza Inc.
- Jack in the Box Inc.
- Subway IP Inc.
Quick Service Restaurants Market Developments
In November 2024, McDonald's announced the launch of its McValue platform across US locations, starting from January 2025. This initiative includes popular promotions such as the USD 5 Meal Deal and in-app exclusive offers, as well as regional discounts. A key feature is the "for USD 1 Buy One, Add One" offer on select meals throughout the day. The platform aims to enhance value and variety, catering to customer needs for convenience and affordability.
In July 2022, Chipotle launched a USD 50 million venture fund in April 2022 that aims to tackle the various challenges facing the restaurant sector. Last year, Chipotle invested in self-driving robotics company Nuro as a first venture investment; this year, it is piloting Chippy, a robotic tortilla chip maker that saves time and labor costs.
In June 2022, Subway, the quick-service restaurant (QSR) sandwich chain with nearly 40,000 restaurants worldwide, is investing in expanding sales occasions beyond individual meals. The company announced that it has redesigned its catering program to be easier to use in addition to launching its offerings on corporate food solutions provider ezCater’s marketplace.
Quick Service Restaurants Market Segmentation
By Type Outlook (Revenue, USD Billion; 2020–2034)
- Independent
- Chain
By Cuisine Outlook (Revenue, USD Billion; 2020–2034)
- American
- Chinese
- Italian
- Mexican
- Japanese
- Turkish & Lebanese
- Others
By Service Outlook (Revenue, USD Billion; 2020–2034)
- Eat-in
- Takeaway
- Drive-Through
- Home Delivery
By Regional Outlook (Revenue, USD Billion; 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Sadi Arabia
- UAE
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Quick Service Restaurants (QSR) Report Scope
|
Report Attributes |
Details |
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Market Size Value in 2024 |
USD 289.68 billion |
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Market Size Value in 2025 |
USD 303.61 billion |
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Revenue Forecast by 2034 |
USD 468.98 billion |
|
CAGR |
4.9% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
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Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
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Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The global QSR market size was valued at USD 289.68 billion in 2024 and is projected to grow to USD 468.98 billion by 2034.
The global market is projected to register a CAGR of 4.9% during the forecast period.
In 2024, North America accounted for the largest QSR market share due to a deep-rooted culture of fast dining and continuous innovation in service models.
A few key players in the market are McDonald's Corp; Restaurant Brands International Inc. (RBI); Starbucks Corp; The Wendy's Co (Wendy's); Ark Restaurants Corp (Ark Restaurants); Carrols Restaurant Group Inc.; Chipotle Mexican Grill Inc.; Yum! Brands, Inc. (YUM); Domino's Pizza Inc.; Jack in the Box Inc.; Subway IP Inc.
In 2024, the independent segment accounted for a larger market share due to rising consumer preference for unique and personalized dining experiences, often found in locally-owned establishments
The drive-through segment is expected to witness the fastest growth during the forecast period due to the increasing consumer demand for convenience, reduced wait times, and contactless service options.
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