Global Quick Service Restaurants Market to be Driven by the Boom in Online Food Delivery Industry in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Quick Service Restaurants Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global quick service restaurants market, assessing the market based on its segments like service types, categories, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

  • Historical Market Size (2021): USD 447.1 Billion
  • Forecast CAGR (2022-2027): 3.73%
  • Forecast Market Size (2027): USD 556.9 Billion

The market is being driven by the rising consumer demand for ready-to-eat food items owing to the busy lifestyles as a result of dual income households. Thus, the increasing market penetration of quick services restaurants in commercial settings like office complexes, shopping malls, subways, and airports, among others is augmenting the market growth. Quick service restaurants are swift to adapt to shifting trends such as rising demand for vegan, clean-label, and healthy quick bites. Moreover, the cost-effective prices offered by these restaurants is a key factor influencing the growth of the market.

Industry Definition and Segmentation

Quick service restaurants are fast food chains that specialise in preparing food in as little time as possible as the food is prepared in mass quantities.

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On the basis of service type, the market can be divided into:

  • Self-Serviced
  • Assisted Self Serviced
  • Full Serviced

Based on category, the market can be segmented into:

The regional markets for the product include:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Market Trends

The growth in the market can be associated with the advent of digital technology such as smartphones and internet accessibility which has brought with itself the trends of online food delivery. The online food delivery industry has witnessed a spur in the recent years thereby positively impacting the market growth of quick service restaurants. The adoption of Artificial Intelligence (AI) to streamline drive through delivery operations with accurate and speedy deliveries is pushing the growth of the market. Moreover, factors such as inflating disposable incomes, innovations in packaging trends, and expansion strategies employed by leading market players are collectively invigorating the market growth of  quick service restaurants.

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Key Market Players

The major players in the market are Subway IP LLC, McDonald’s Corporation, Restaurant Brands International Inc., Yum! Brands, Inc., The Wendy’s Company, and Domino’s Pizza, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally.

At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.

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**We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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