The global fast food quick service restaurants market size was USD 600.13 billion in 2022 and is expected to reach USD 931.0 billion in 2032, and register a revenue CAGR of 5% during the forecast period. Customers now have the convenience of smartphone ordering and delivery options, which is the major factor driving market revenue growth. Revenue growth of the market is expected to be driven by accessibility of a wide range of food products at reasonable rates, particularly in emerging economies where the middle class is increasing. Governments' introduction of stringent restrictions in response to the need for sanitation and food safety has strengthened public trust in fast food and quick service businesses.
In addition, there are more franchise options now due to rising popularity of fast food chains and recognition of their brands. Fast food companies have begun to enter new markets due to this, further driving revenue growth of the market. Furthermore, fast food companies are spending a lot of money on marketing and advertising efforts to sell their goods, which has increased customer loyalty and brand awareness.
Top Profiled Companies in the Global Fast Food Quick Service Restaurants Market Report:
- McDonald’s Corporation
- Yum! Brands Inc.
- Restaurant Brands International Inc.
- Subway
- Wendy’s
- Burger King
- Dunkin' Brands Group Inc.
- Domino's Pizza Inc.
- Papa John's International Inc.
- Taco Bell Corporation
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The global consumer goods market revenue growth is primarily attributed to factors such as the rapid increase in global population, an increasing demand for food and other essential consumer goods such as healthcare nutrition, personal care hygiene, and electronic products, and the changing lifestyles and preferences of consumers, the growing demand for packaged and processed products in food and beverage, and the growing working population. Manufacturing and packaging techniques have advanced technologically, as well as the adoption of cutting-edge technologies such as artificial intelligence, the Internet of Things (IoT), big data analytics, robotics, and automation in the consumer goods industry. Other key factors driving global consumer goods market revenues include increasing awareness of the negative environmental effects of plastic packaging, as well as a growing demand for environmentally friendly and sustainable packaging solutions. Consumer income levels are expected to rise in developing economies such as India thanks to government regulations and guidelines regarding product quality and safety.
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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Further market segmentation
Service Type Outlook:
- Drive-thru
- Takeaway
- Dine-in
- Home Delivery
- Others
Cuisine Type Outlook:
- Burgers/Sandwiches
- Pizza/Pasta
- Chicken
- Asian
- Others
Key Takeaways of the Global Fast Food Quick Service Restaurants Market Report:
- A comprehensive overview of the global Fast Food Quick Service Restaurants industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Fast Food Quick Service Restaurants market.
- Elaborate study of the leading regional markets in the global Fast Food Quick Service Restaurants market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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