What Is The Definition Of The Global Airport Quick Service Restaurant Market?
An airport quick service restaurant is a dining establishment typically found within airport terminals, offering travelers fast food or casual dining options. These restaurants prioritize quick service and convenience, catering to passengers looking for a swift meal or snack before their flights. They often feature a streamlined menu, efficient ordering, and limited seating to accommodate busy travel schedules.
Airport Quick Service Restaurant Global Market Report 2024 provides data on the global airport quick service restaurant market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The airport quick service restaurant market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Projections Exist For The Global Airport Quick Service Restaurant Market Size And Annual Growth Rates?
The airport quick service restaurant market has grown steadily, increasing from $166.55 billion in 2023 to $175.55 billion in 2024 at a CAGR of 5.4%. This growth has been fueled by increased air travel, evolving consumer preferences, airport renovations, an emphasis on passenger experience, partnerships, and digital ordering technologies. The market is projected to grow to $218.60 billion by 2028 at a CAGR of 5.6%. Future growth will be driven by technological integration, higher disposable incomes, health-conscious and sustainable trends, regulatory changes, and tourism growth. Trends to watch include health-focused menus, regional cuisine offerings, sustainability efforts, ghost kitchens, personalized dining experiences, innovative technology, cultural influences, and adaptability.
Which Key Drivers Are Propelling The Airport Quick Service Restaurant Market's Growth?
The rise in air passenger traffic is also expected to fuel the growth of the airport quick service restaurant market. Air passenger traffic, measured over periods such as a day, month, or year, refers to the volume of individuals traveling by air. The increase is driven by improved accessibility to air travel and the expansion of airline routes. Quick-service restaurants at airports are designed to serve meals or snacks quickly, providing convenient and efficient dining for travelers, airline crews, and airport staff. For instance, in November 2023, Eurostat reported that air travel within the European Union surged in 2022, reaching 820 million passengers, an increase of 119.3% compared to the previous year. Thus, the rise in air passenger traffic is supporting the growth of the airport quick service restaurant market.
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What Are The Key Segments Within The Global Airport Quick Service Restaurant Market?
The airport quick service restaurant market covered in this report is segmented –
1) By Type: Fast Foods And Meals, Beverages, Bakery And Confectionery
2) By Franchise Type: Branded Chains, Local Brands
3) By Restaurant: Standalone Outlet, Kiosks, Food Courts
4) By Application: Domestic Airports, International Airports
How Are New Trends Impacting The Size Of The Airport Quick Service Restaurant Market?
Leading companies in the airport quick service restaurant sector are incorporating advanced technologies, like pickup-only dining concepts, to gain a competitive advantage. These concepts refer to eateries in airport terminals that only offer food and drinks for takeaway orders. For instance, in September 2023, Starbucks Corporation, in collaboration with OTG, launched the first Starbucks Pickup concept at George Bush Intercontinental Airport in Houston. Customers can place orders and pay in advance through the Starbucks app, track order progress on a digital screen, and pick up their food once ready.
Which Region Drives The Highest Growth In The Airport Quick Service Restaurant Market?
North America was the largest region in the airport quick service restaurant market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the airport quick service restaurant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
