PUBLISHER: The Business Research Company | PRODUCT CODE: 1664294
PUBLISHER: The Business Research Company | PRODUCT CODE: 1664294
Fast food and quick-service restaurants are establishments where customers pay for food at the counter before consumption. These restaurants are often part of a chain, receiving standardized ingredients or partially prepared foods through controlled supply channels.
The main categories for fast food and quick-service restaurants include chain and independent establishments. Chain restaurants are part of a network serving fast food with standardized offerings. The menu typically includes items such as burgers and sandwiches, pizzas and pasta, drinks and desserts, chicken and seafood, among others. These establishments provide services such as eat-in dining, takeaway, drive-through, and home delivery. They may offer a variety of cuisines, including American, Chinese, Italian, Mexican, Japanese, Turkish, Lebanese, and others.
The fast food and quick service restaurant market research report are one of a series of new reports from The Business Research Company that provides fast food and quick service restaurant market statistics, including fast food and quick service restaurant industry global market size, regional shares, competitors with fast food and quick service restaurant market share, detailed fast food and quick service restaurant market segments, market trends, and opportunities, and any further data you may need to thrive in the fast food and quick service restaurant industry. This fast food and quick service restaurant market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fast food and quick service restaurant market size has grown strongly in recent years. It will grow from $311.54 billion in 2024 to $330.56 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to changing lifestyles and urbanization, rising disposable income, globalization and cultural exchange, innovations in menu offerings, strategic alliances, and partnerships.
The fast food and quick service restaurant market size is expected to see strong growth in the next few years. It will grow to $436.07 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to sustainability and ethical practices, health-conscious consumer preferences, economic factors, customization and personalization, global expansion strategies. Major trends in the forecast period include digital transformation, focus on health and wellness, sustainability initiatives, technology integration in operations, rise of ghost kitchens.
The rising trend of dining out and restaurant visits is expected to drive the growth of the fast-food and quick-service restaurant market. Restaurants, catering to various customer needs, offer quick and accessible food options, thereby amplifying the demand for fast-food and quick-service restaurants. For instance, based on data from the International Conference on Financial Innovation and Economic Development and the American Catering Association in 2022, statistics indicate that 90% of consumers prefer dining out, 44% have used restaurant apps or websites for takeout orders, and 22% prioritize restaurants with Internet services. These figures underscore the increasing consumer preference for quick dining solutions, influencing the surge in the fast-food and quick-service restaurant market.
The rising demand for travel and tourism is expected to significantly boost the growth of the fast-food and quick-service restaurant (QSR) market. As tourism and travel expand, more people are traveling for leisure, business, and other purposes, creating a higher demand for convenient dining options like fast food and QSRs. These establishments are popular with travelers due to their quick service and accessible locations. For example, in May 2023, the United Nations World Tourism Organization reported that international tourist arrivals surged in the first quarter of 2023, reaching 80% of pre-pandemic levels, with around 235 million travelers, more than double the number in the same period of 2022. In 2022, the tourism sector welcomed over 960 million international tourists, recovering two-thirds (66%) of pre-pandemic levels. This resurgence in tourism is driving demand for fast food and QSRs, as travelers seek fast, reliable dining options while on the move.
Product innovation stands as a prominent trend shaping the fast-food and quick-service restaurant market. Leading companies in this sector are dedicated to crafting novel solutions to fortify their market positions. For instance, in April 2022, Toast, a U.S.-based cloud company, introduced Quick Service, a customizable platform tailored specifically for quick-service restaurants. Quick Service caters to the unique needs of casual, counter-service eateries, optimizing operational efficiency and profitability while enhancing the overall dining experience for guests. These innovative solutions are designed to boost revenue streams and elevate customer satisfaction levels for quick-service restaurants.
Major players in the fast-food and quick-service restaurant market are directing their attention towards cutting-edge technological solutions, notably adopting the Hardware-as-a-Service (HaaS) model to bolster revenue streams within their industry. HaaS is a subscription-based framework facilitating access to and maintenance of physical computing devices, enabling users to leverage hardware resources without an upfront capital investment. For instance, in July 2022, PAR Tech Inc., a leading U.S.-based provider of technology solutions for the hospitality sector, unveiled PAR Infinity. This innovative HaaS program is specifically designed to cater to the needs of the hotel industry, offering a subscription-based solution that alleviates the burden of hardware management for restaurants, retail outlets, convenience stores, and entertainment venues. PAR Infinity provides round-the-clock help desk support, comprehensive managed care services, field maintenance, and equipment replacement throughout the duration of the customer's ownership. By leveraging PAR Infinity, companies can focus on delivering exceptional guest experiences while minimizing operational disruptions.
In May 2024, Restaurant Brands International Inc. (RBI), a Canada-based fast food giant, acquired Carrols Restaurant Group Inc. for $1.0 billion. This strategic move brought the largest Burger King franchisee in the United States under RBI's portfolio. The acquisition is aligned with RBI's "Reclaim the Flame" initiative, which aims to revitalize the Burger King brand. As part of this plan, RBI will invest an additional $500 million to rebrand over 600 Carrols-owned Burger King locations, with a goal of refranchising the majority of these locations to new or smaller franchise operators over the next seven years. Carrols Restaurant Group is a US-based fast-food and quick-service restaurant company, primarily operating Burger King outlets across the U.S.
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.
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
The countries covered in the fast food and quick service restaurant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The fast food and quick service restaurant market include revenues earned by providing services related to sit-down restaurants, buffet-style eateries, takeaways, and fast-food dining. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Fast Food and Quick Service Restaurant Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on fast food and quick service restaurant market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for fast food and quick service restaurant ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The fast food and quick service restaurant market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.