Quick Service Restaurant Market By Application (Individual Restaurants, Chain Restaurants) - Growth, Future Prospects, And Competitive Analysis, 2019 - 2027

The reinvention of Customer Experience is Driving the Quick Service Restaurant Market.

The quick service restaurant market worldwide is expected to grow with a CAGR of 5.5% during the forecast period from 2019 to 2027, starting from US$ 1.34 Tn in 2018. The prerequisite for reinventing the customer experience, improved demand for self-service options, and escalating awareness among consumers is driving the quick service restaurant market. A short-service restaurant acts as a fast food cuisine provider and has nominal table service. In addition, the adoption of smartphones and downloadable applications has led to various quick-service restaurant innovations. Hence, we expect the quick service restaurant market to show significant growth during the forecast period.

Market Synopsis

Chain Restaurant based Segment will Led the Market

The quick service-based restaurant market is segmented into individual and chain restaurants based on type. Chain restaurants hold a significant share in the quick service restaurant market. The growing adult population is inclined toward eat-in. The trend of corporate parties, social meetups, and outings has contributed significantly to the restaurant trend. In addition, the increased adoption of smartphones and internet penetration shall facilitate the use of review-based opinions, thus fostering revenue for a well-established chain of restaurants. Thus, we expect the chain restaurants segment to continue holding a significant share in the quick service restaurant market from 2019-2027.

The Asia Pacific to Possess Significant share during the Forecast Period

In 2018, Asia Pacific had a significant share in the global quick service restaurant market. Growing urbanization and rising awareness among the people toward ready-to-eat meal is driving the growth of the market in the region. The quick service restaurant market shall expand due to consumers' increasing demand for ready-to-eat meals and a cumulative number of service providers in the region. In addition, changing lifestyle pattern, food safety norms, and awareness of healthy eating is driving the growth of the quick service restaurant market in growing economies, say India and China. Thus, Asia Pacific will continue to dominate the quick-service restaurant market throughout the forecast period.

Some prominent players operating in the quick service restaurant market are Chick-fil-A, Domino's, Dunkin' Brands Group, McDonald's, Starbucks, Subway, The Wendy's Company, and Yum! Brands among others.

Historical & Forecast Period

This research report presents the analysis of each Segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective Segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The quick service restaurant market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global quick service restaurant market based on application and geography.

Frequently Asked Questions:

The market for Quick Service Restaurant is expected to reach US$ 1.34 Tn in 2027

The Quick Service Restaurant market is expected to see significant CAGR growth over the coming years, at 5.5%.

The report is forecasted from 2019-2027.

The base year of this report is 2018.

Chick-fil-A, Domino’s, Dunkin' Brands Group, McDonald’s, Restaurant Brands International, Starbucks, Subway, The Wendy’s Company are some of the major players in the global market.

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Published Date:  Dec 2019
Category:  Technology & Media
Report ID:   60113
Report Format:   PDF
Pages:   120
Rating:    4.1 (58)
Delivery Time: 24 Hours to 48 Hours   
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