The global Quick Service Restaurants (QSR) market size is expected to reach USD 264.89 billion by 2030 according to a new study by Polaris Market Research. The report “Quick Service Restaurants (QSR) Market Share, Size, Trends, Industry Analysis Report, By Service (Eat-in, Takeaway, Drive-through, Home Delivery); By Type (Independent, Chain); By Cuisine; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing millennial population, changing lifestyle of customers, increased inclination toward convenience food, a shift in consumption patterns, people’s busy schedules, and rising penetration of e-commerce platforms are contributing to the increased demand for the Quick Service Restaurants (QSR) industry. Furthermore, consumer’s preference for convenient, easy-pick-up choices, as well as third-party delivery, is driving the QSR industry demand. As a result of takeout and delivery-only options, people have become more reliant on third-party delivery facilities. In addition, the growing millennial population is one of the key driving factors for global industry growth. The millennial population is more inclined toward the consumption of fast food.
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Based on the type, the independent quick service restaurant dominated the market and accounted for the largest share of the global revenue in 2021. Over the forecast period, the demand for independent quick-service restaurants is expected to be driven by the growing trend of dining out, providing quality facilities, and consumers spending less time on cooking at home.
North America accounted for the largest revenue share in the global market in 2021. The factors such as the introduction of additional cuisines to the menu, development of franchises, rise in casual dining restaurants, as well as value meals offered by the restaurant are all contributing to the growth of the QSR industry.
Major participants such as Ark Restaurant Corp., Burger King, Carrols Restaurant Group, Inc., Chipotle Mexican Grill, Darden Concepts, Inc., Dunkin Brands Group, Kotipizza Group Oyj, McDonald’s, Quality Is Our Recipe, LLC, Restaurant Brands International Inc., Starbucks Corporation, Subway, The Wendy’s Company, and Yum! Brands are some of the key players operating in the global market.
For instance, in November 2021, Subway® announced its largest-ever master franchisee partnership with Everstone Group, a South Asia-focused leading private investment firm, to expand its presence in India, Sri Lanka, and Bangladesh.
Polaris Market Research has segmented the Quick Service Restaurants (QSR) market report on the basis of service, cuisine, type, and region:
Quick Service Restaurants (QSR), Service Outlook (Revenue – USD Billion, 2018 – 2030)
- Home Delivery
Quick Service Restaurants (QSR), Cuisine Outlook (Revenue – USD Billion, 2018 – 2030)
- Turkish & Lebanese
Quick Service Restaurants (QSR), Type Outlook (Revenue – USD Billion, 2018 – 2030)
Quick Service Restaurants (QSR), Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa