Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global quick-service restaurants market size was valued at USD 763.42 billion in 2022 and is expected to be worth USD 846.75 billion in 2023. The market is projected to reach USD 1,777.97 billion by 2030, recording a CAGR of 11.18% during the forecast period.
A quick-service restaurant refers to a restaurant that delivers food items that take the least time to prepare and reduce customers’ waiting time. These restaurants offer a vast variety of services to their customers. The business of food delivery has grown exponentially in recent years due to the rising development of food delivery applications and websites. Quick-service restaurants are also looking for different ways to deliver their food services to customers, which will further fuel the quick-service restaurants market growth.
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Leading Players Featured in the Research Report:
Companies leading Quick-Service Restaurants Market are Chick-fil-A (U.S.), Papa John's International, Inc. (U.S.), Subway IP LLC (U.S.), Starbucks Corporation (U.S.), Yum! Brands, Inc. (U.S.), McDonald's Corporation (U.S.), Restaurant Brands International Inc. (Canada), The Wendy's Company (U.S.), Dunkin (Inspire Brands) (U.S.), Domino's Pizza, Inc. (U.S.)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 11.18% |
| 2030 Value Projection | USD 1,777.97 Billion |
| Quick-Service Restaurants Market Size in 2022 | USD 763.42 Billion |
| Historical Data | 2019-2021 |
| No. of Pages | 146 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Quick-Service Restaurants Market Growth Drivers | Growing Network of Food Malls to Drive Market Progress |
Browse Summary of this Research Report:
https://www.fortunebusinessinsights.com/quick-service-restaurants-market-103236
COVID-19 Impact:
Supply Chain Disruptions Negatively Impacted Market Growth
The COVID-19 pandemic had a negative impact on the quick-service restaurants market growth as several restrictions were imposed by governments across the world on dine-in food services. This scenario compelled quick-service restaurant owners to partially or completely close their outlets during this period. This factor had an adverse effect on the revenues of leading market players, further impeding the market growth.
Segments:
Growing Consumer Interest in Restaurant Dining to Boost Preference for Dine-In Services
Based on service type, the market is segmented into dine-in, takeaway, and delivery. The dine-in segment is expected to dominate the quick-service restaurants market share during the forecast period as more customers prefer to dine-out in restaurants to get the complete dining experience, especially after the COVID-19 pandemic.
With respect to region, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report provides a detailed analysis of the market and covers key areas such as leading market players and their competitive landscape. It also offers leading insights into the latest market trends and focuses on top industry developments. Besides the abovementioned factors, the report covers several factors contributing to the market's growth.
Drivers and Restraints:
Growing Network of Food Malls to Drive Market Progress
Consumers are increasing their preference for shopping malls that have several brands under one roof. Keeping this trend in mind, many food service providers are launching multi-brand food malls and courts to boost their customers’ shopping experience. These malls are equipped with advanced technologies to decrease customer waiting time and offer ease in ordering various food items. These advantages will drive customers’ preference for quick-service restaurants.
However, growing popularity of cloud kitchens can impede the market growth.
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Regional Insights:
North America to Lead Market Growth with Rapid Expansion of Fast Food Chains
North America is expected to dominate the global market as the region has a vast presence of fast food chains due to increasing number of dual income households and changing lifestyle of customers.
Asia Pacific will also hold a major global market share as the popularity of quick-service restaurants is growing at a commendable pace in India, Malaysia, Indonesia, South Korea, and China.
Competitive Landscape:
Key Companies to Focus on Launching New Products to Retain Market Dominance
The market is witnessing notable growth as key players operating in this industry are increasing their focus on launching innovative products to enhance the dining experience of customers. Some of the major market players include Burger King, McDonald's Corporation, Pizza Hut, Taco Bell, and many more.
Major Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Market Trends
- Key Insights
- Market Overview of the Global Food Service Market
- Qualitative Insights on Consumption Pattern, By Demography
- Supply Chain Landscape
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges Amidst Pandemic
- Potential Opportunities due to COVID-19
- Global Quick-Service Restaurants Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Service Type
- Dine-In
- Takeaway
- Delivery
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Service Type
- North America Quick-Service Restaurants Market Analysis, Insights, and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Service Type
- Dine-In
- Takeaway
- Delivery
- By Country (Value)
- U.S.
- Canada
- Mexico
- By Service Type
To Be Continued…!
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Key Industry Development:
May 2022 – Domino's introduced a new product named Paratha Pizza for Indian consumers. The fusion dish is available in various unique flavors such as Cheese Paratha Pizza, Paneer Paratha Pizza, and Chicken Keema Paratha Pizza.
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