According to IMARC Group’s latest report, titled “Fast Food and Quick Service Restaurant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global fast food and quick service restaurant market reached a value of US$ 260 Billion in 2020. Fast food and quick service restaurant (QSR) is a casual dining setup where pre-prepared fast food is assembled and served to the customers. These outlets usually have a limited menu, and the food is prepared in advance, which is further heated and packed for takeaway or dine-in. They offer a wide variety of foods and beverages, such as burgers, sandwiches, pizzas, pastas, desserts, cakes, seafood, soft and alcoholic drinks, etc. Besides this, these restaurants are generally a part of an existing restaurant chain or franchise operation that offers partially prepared foods to the restaurants through controlled supply channels.
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A considerable rise in the food and beverage industry, along with the widespread adoption of franchise business models by popular restaurant chains, is primarily driving the global fast food and QSR market. Moreover, the increasing working population, hectic work schedules, and sedentary consumer lifestyles across the globe have enhanced the consumption of on-the-go food products that can be readily purchased and consumed while traveling. Furthermore, QSRs are introducing exotic recipes using natural, organic, and plant-based ingredients to cater to the needs and preferences of health-conscious consumers. Various other factors, including modernization and digitization of the restaurants, and the installation of kitchen-display screens and digital sales terminal, are anticipated to further drive the global market in the coming years. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.1% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Ark Restaurants Corp.
- Carrols Restaurant Group Inc.
- Chipotle Mexican Grill Inc.
- Del Taco Restaurants Inc.
- Jack in The Box Inc.
- Kotipizza Group Oyj (Orkla ASA)
- McDonald’s Corporation
- Restaurant Brands International Inc.
- The Wendy’s Company
- Yum Brands Inc.
Market Segmentation:
Breakup by Business Model:
- Independent
- Chain and Franchise
Breakup by Cuisine:
- American
- Chinese
- Italian
- Mexican
- Japanese
- Turkish and Lebanese
- Others
Breakup by Product Type:
- Burger and Sandwiches
- Pizzas and Pastas
- Drinks and Desserts
- Chicken and Seafood
- Others
Breakup by Service Type:
- Online Service
- Offline Service
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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