What Has Been the Progress and Growth of the Fast Food and Quick Service Restaurant Market in Recent Years?
The fast food and quick service restaurant market has seen considerable growth due to a variety of factors.
• The size of the fast food and quick service restaurant market has experienced robust growth over past years. The market is poised to increase from $311.54 billion in 2024 to $330.56 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.1%. Various factors have contributed to this growth in the historic period, including changing lifestyles brought on by urbanization, increased disposable income, the effects of globalization and cultural intermingling, innovative additions to menu offerings, and strategic collaborations and partnerships.
How Does the Forecast Look for the Fast Food and Quick Service Restaurant Market?
The Fast Food and Quick Service Restaurant market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of quick service and fast food restaurants is anticipated to witness significant expansion in the coming years, expected to reach $436.07 billion by 2029 with a compound annual growth rate (CAGR) of 7.2%.
The predicted growth during the forecast period can be credited to factors such as sustainable and ethical practices, health-oriented consumer choices, economic conditions, customization and personalization, and strategies for global expansion. The forecast period will also see major trends including digital transformation, emphasis on health and wellness, initiatives for sustainability, integration of technology in operations, and the emergence of ghost kitchens.
What Are The Leading Drivers Of Growth In The Fast Food and Quick Service Restaurant Market?
The escalating trend of frequenting restaurants is projected to fuel the expansion of the fast food and quick-service restaurant industry. Restaurants, which are businesses that prepare and deliver food and beverages to consumers, are typically situated in convenient locations where food can be quickly ordered and consumed, a factor greatly favored by consumers due to its time-saving aspect. Consequently, as the attractiveness of restaurants grows, so does the demand for fast food and quick services. As an illustration, in 2022, stats from the International Conference on Financial Innovation and Economic Development and American Catering Association revealed that out of 5536 dealings, 90% of consumers have a penchant for visiting restaurants, 44% placed food orders via restaurant apps or websites in the preceding year, while 22% have a preference for dining establishments with Internet amenities. Therefore, the burgeoning demand for fast food products is the key engine propelling the fast food and quick service restaurant industry.
How Are The Segments Defined Within The Global Fast Food and Quick Service Restaurant Market?
The fast food and quick service restaurant market covered in this report is segmented –
1) By Type: Chain, Independent
2) By Product Type: Burger And Sandwiches, Pizzas And Pastas, Drinks And Desserts, Chicken And Seafood, Other Product Types
3) By Service: Eat-In, Takeaway, Drive-Through, Home Delivery
4) By Cuisine: American, Chinese, Italian, Mexican, Japanese, Turkish And Lebanese, Other Cuisines
Subsegments:
1) By Chain: National Chains, Regional Chains, International Chains
2) By Independent: Local Independents, Specialty Independents, Food Trucks Or Pop-Ups
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How Are New Trends Expected To Influence The Growth Of The Fast Food and Quick Service Restaurant Market?
The emergence of product innovation is becoming an increasingly prevalent trend in the fast-food and quick-service restaurant industry. Major industry players are concentrating their efforts on formulating new solutions which will fortify their standing within the market. As an illustration, in April 2022, a US-Cloud-based entity, Toast, introduced a novel solution known as Quick Service. This service, tailored specifically for the needs of quick-service restaurants, can be fully customized and is poised to aid these establishments in becoming more efficient and profitable. Quick serves has the potential to enhance revenues and upgrade the guest experience.
Who Are the Key Players In The Fast Food and Quick Service Restaurant Market?
Major companies operating in the fast food and quick service restaurant market include:
• McDonald's Corporation
• Burger King Corporation
• Carrols Restaurant Group Inc.
• Chipotle Mexican Grill Inc.
• Del Taco Restaurants Inc.
• Jack in the Box Inc.
• Kotipizza Oyj
• Restaurant Brands International Inc.
• Subway IP LLC
• The Wendy’s Company
• Yum Brands Inc.
• Starbucks Corporation
• Domino's Pizza Inc.
• Coffee Day Global Limited
• Dunkin' Brands Group Inc.
• Hunt Brothers Pizza
• Jollibee Foods Corporation
• Little Caesar Enterprises Inc.
• Papa John's International Inc.
• Arby's Restaurant Group Inc.
• Bojangles OpCo LLC.
• Boston Market Corporation
• Cafe de Coral Holdings Limited
• Captain Ds LLC.
• CKE Restaurants Holdings Inc.
• Checkers Drive-In Restaurants Inc.
• Church's Texas Chicken
• Culver Franchising System LLC
• International Dairy Queen Inc.
• El Pollo Loco Holdings Inc.
• Five Guys Enterprises LLC
• Greggs plc
• Hardee's Food Systems Inc.
• Jersey Mike's Franchise Systems Inc.
What Is The Most Dominant Region In The Fast Food and Quick Service Restaurant Market?
North America was the largest region in the fast food and quick service restaurant market in 2024. Asia-Pacific is expected to be the fastest-growing region in the fast food and quick service restaurant market report during the forecast period. The regions covered in the fast food and quick service restaurant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
