New York, US, May 15, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Quick Service Restaurants Market Information by Service Type, Category, and Region - Forecast till 2030”, Quick Service Restaurants Market could thrive at a rate of 3.65% between 2022 and 2030. The market size will be reaching around USD 603.3 Billion by the end of the year 2030
Quick Service Restaurants (QSR) Market Overview
Quick Service Restaurants (QSR) market refers to a type of restaurant that provides fast food services with limited menus and dine-in seating. These restaurants are commonly known as fast-food chains and offer quick and affordable meals to their customers. The QSR industry has been witnessing significant growth over the years, and various factors are driving this growth. One driver of the QSR market is the increasing demand for convenient and fast food options.
The busy and fast-paced lifestyle of people has made them dependent on quick and ready-to-eat meals. QSRs are designed to meet the needs of such customers by providing a hassle-free and quick dining experience. Additionally, the availability of online ordering and delivery services has further increased the convenience of QSRs, making them an attractive option for people looking for quick meals. The QSR market is also driven by the low price point of the menu items. QSRs are designed to offer affordable meals that cater to a wide range of customers. The cost-effective nature of QSRs makes them popular among consumers who are looking for affordable meals.
Get Free Sample PDF Brochure: https://www.marketresearchfuture.com/sample_request/10541
Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 603.3 Billion |
| CAGR | 3.65% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, Operating Platforms, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing demand for a variety of fast food items |
Market Competitive Landscape:
The affluent companies in the Quick Service Restaurants industry include
- Domino's Pizza Inc.
- The Wendy's Company
- Subway IP LLC
- Restaurants brand International Inc.
- Inspire Brands Inc
- Papa John's International Inc.
- The cola-cola Company
Wallace Fujian food co. Ltd
Industry Development :
July 2021: Nestlé and Starbucks Corporation announced a new partnership to expand the distribution of Starbucks Ready-to-Drink (RTD) coffee beverages in target countries across Southeast Asia, Oceania, and Latin America. As part of the partnership, Nestlé and Starbucks will focus on developing two RTD products, Starbucks Frappuccino, and Starbucks Doubleshot, and continue to innovate and develop a strong product pipeline.
Market USP Covered:
Market Drivers:
One of the key drivers of the Quick Service Restaurants (QSR) market is the increasing demand for convenience and fast food options due to busy lifestyles and the growing trend of eating out. QSRs provide fast food options that are quick to prepare and serve, making them a popular choice for people on the go, especially in urban areas where people have limited time for meals. The convenience of ordering food quickly and easily through mobile apps or drive-thru windows has also contributed to the growth of the QSR market.
Moreover, the increasing adoption of digital technologies such as self-order kiosks, digital menu boards, and mobile ordering apps is also driving the QSR market. These technologies enable customers to easily customize their orders and pay quickly, leading to faster service and improved customer experience. In addition, these technologies also enable QSRs to collect data on customer preferences and behavior, which can be used to improve their offerings and marketing strategies.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=10541
Market Restraints:
One of the main restraints of the QSR market is the health concerns associated with fast food. Fast food is known to be high in calories, unhealthy fats, and sugar, which can lead to various health problems such as obesity, heart disease, and diabetes. The growing awareness among consumers about the harmful effects of fast food has led to a shift towards healthier and more nutritious meals. This has resulted in increased competition for QSRs, as customers are now looking for healthier and organic food options. Another restraint of the QSR market is the increasing competition from non-traditional food services providers, such as convenience stores, supermarkets, and food trucks. These providers offer similar menu items at a lower price point, which is attracting price-sensitive customers away from QSRs.
COVID 19 Analysis
The COVID-19 pandemic has had a significant impact on the Quick Service Restaurants (QSR) market. With the widespread closures of restaurants and limitations on in-person dining, many QSRs had to quickly adapt to a delivery and takeout model to stay in business. This shift towards contactless dining has led to an increased reliance on technology, including mobile ordering and delivery apps, as well as the implementation of new safety measures to ensure customer and employee safety.
Browse In-depth Market Research Report (90 Pages) on Quick Service Restaurants Market:
Market Segmentation
By Service Type
The service types in the market include Self-serviced, Assisted self-service, and Fully serviced.
By Category
By category the segment includes Single Outlet, QSR Chain
Regional Insights
The Quick Service Restaurants market in North America is driven by the busy lifestyle of consumers who prefer quick and convenient meal options. The demand for healthier fast food options has also been increasing, leading to the introduction of healthier menus by Quick Service Restaurants. Moreover, the availability of a wide variety of cuisines at affordable prices is further driving the market growth. However, the rising competition from other food service providers and the increasing trend of cooking at home could be a restraint to the market growth.
The Quick Service Restaurants market in Europe is driven by the increasing popularity of fast food among consumers, especially among the younger population. The market growth is also attributed to the rising trend of eating on the go and the convenience of quick-service restaurants. Moreover, the increasing demand for healthier and vegetarian options in fast food is driving the growth of the market. However, the increasing concern among consumers regarding the quality of fast food and its impact on health and the environment could be a restraint to the market growth.
The Quick Service Restaurants market in Asia Pacific is driven by the rising population, urbanization, and the busy lifestyle of consumers who prefer convenient and quick meal options. The market growth is also attributed to the increasing adoption of Western culture and the rising disposable income of consumers. Moreover, the increasing demand for fast food among the younger population and the availability of a wide variety of cuisines at affordable prices are further driving market growth. However, the increasing competition from other food service providers and the rising concern among consumers regarding the quality of fast food and its impact on health could be a restraint to the market growth.
Discover more research Reports by Market Research Future:
Meal Kit Delivery Services Market Research Report Information By Food Type (Ready-To-Cook and Ready-To-Eat), By Serving (One, Two, Four, and Others), By Distribution Channel (Store and Non-Store), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
Fast Food Market Research Report Information By Type (Burger/Sandwich, Pizza/Pasta, Chicken &Amp; Seafood, Asian/Latin American Food, Others), Service Type (Eat-In, Take Away, Drive Through, Home Delivery, Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030
Frozen Processed Food Market Research Report: Information By Type (Frozen Ready Meals, Frozen Seafood & Meat Products, Frozen Snacks & Bakery Products, And Others), By Distribution Channel (Supermarkets/ Hypermarkets, Specialty Stores, Convenience Stores, and Online) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Follow Us: LinkedIn | Twitter
Press Release: https://www.marketresearchfuture.com/press-release/quick-service-restaurants-qsr-market
