Quick Service Restaurants Market is Projected to Reach USD 468.98 Billion by 2034, exhibiting a CAGR of 4.9%| PMR

The changing manner of living of consumers, together with the growing inclination for convenience food, is boosting the quick service restaurants (QSR) market.

New York, USA, Dec. 18, 2024 (GLOBE NEWSWIRE) — Market Details

The global quick service restaurants (QSR) market size is projected to grow from USD 289.68 billion in 2024 to USD 468.98 billion by 2034, at a CAGR of 4.9%, according to a new report by Polaris Market Research.

Market Overview

A quick service restaurant is a restaurant that productively serves cheap meals that are always made in a consistent way. The meals are packaged so that they can be consumed on the go, either removed, conveyed to the customer, or consumed swiftly in-store at a restricted seating frequently available. Menus are equalized for the momentum of service, which indicates QSRs normally serve food at a lesser price point, approximately $10 for a meal that can be swiftly convened on-site to order. Approved alternatives are burgers, fish and chips, pizza, burritos and sandwiches.

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Key Insights from Report

• The market for quick service restaurants (QSR) is significantly shaped by the provision of an equalized menu, predominantly fast-food items, with a robust concentration on speedy service and functional productivity.
• The quick service restaurants market segmentation is mainly based on type, cuisine, service, and region.
• Based on type, the independent segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Quick Service Restaurants Market Scope

Market’s Growth Drivers

Growing Hectic Schedules: The alteration in consumption motifs propelled by growingly hectic schedules and the surging reach of e-commerce channels is anticipated to augment the market favorably. Additionally, the QSR sector is observing sizeable traction amongst the juvenile population due to its concentration on takeout, home conveyance, and several quick service alternatives outlined to improve user experience and correspond to contemporary consumer anticipation, contributing to the quick service restaurants (QSR) market growth.

Rise of Global Fast Food Brands: The speedy augmentation of global fast food brands has been pushed by growing Western impact, which has fuelled the surge of fast food culture in several nations. The allocation of out-of-door intake of Western food is now influenced by global chains and permissions, further driving the market demand globally.

Swift Growth of Internet: The speedy growth of Internet associations and elevated consumer disbursement are critical drivers for the market. As additional people acquire admittance to the internet, online ordering, food conveyance services, and mobile apps have become important for QSRs to penetrate a broader customer base. The surge in consumer disbursement also sanctions consumers to eating out more often and selecting appropriate meal options such as fast food.

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List of QSR Market Key Players

• McDonald’s Corp
• Restaurant Brands International Inc. (RBI)
• Starbucks Corp
• The Wendy 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.

Geographical Analysis

North America accounted for the largest quick service restaurants (QSR) market share. This is due to the entrenched culture of fast dining and consistent invention in service models. The region’s QSR topography prospers from its capacity to adjust to the growing consumer partiality such as escalating demand for customized menu alternatives and smooth digital episodes.

Asia Pacific is also expected to grow at the highest CAGR during the forecast period owing to the region’s amply supplied domestic and global fast food restaurant chains. McDonald’s, Burger King, and KFC are the region’s most approved American restaurant chains.

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Market Segmentation

By Type Outlook

• Independent
• Chain

By Cuisine Outlook

• American
• Chinese
• Italian
• Mexican
• Japanese
• Turkish & Lebanese
• Others

By Service Outlook

• Eat-in
• Takeaway
• Drive-Through
• Home Delivery

By Regional Outlook

• 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
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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