The fast food & quick service restaurant market size is estimated to be US$ 1,97,162.9 million in 2024. The market is expected to cross a valuation of US$ 3,18,111.90 million by 2034. The increasing popularity of fast food restaurants is expected to drive the market during the forecast period. The market is expected to record a CAGR of 4.90% through 2034.
Key Market Highlights
| Attributes | Details |
|---|---|
| Fast Food & Quick Service Restaurant Market Value in 2023 | US$ 1,87,774.1 million |
| Projected Market Value by 2034 | US$ 3,18,111.9 million |
| Value-based CAGR (2024 to 2034) | 4.90% |
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The fast food & quick service restaurant market is projected to grow at a rate far eclipsing the rate during the historical period from 2019 to 2023. The rising need for new types of fast foods, lifestyle changes, and other factors are all suggested to contribute to the immense growth in the market.
| Historical market valuation, 2023 | US$ 1,87,774.1 million |
|---|
Consumers increasingly prefer contactless ordering and payment solutions for faster and safer interactions, which is expected to drive the market's growth. Mobile apps, self-service kiosks, and internet ordering platforms are gaining popularity.
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Aside from the fast food & quick service restaurant market, the section highlights key attributes of two other related markets. These markets are the vegan fast food market and the restaurants and mobile food services market. The fast food & quick service market is expected to grow rapidly over the forecast period compared to the other two markets.
Fast Food & Quick Service Restaurant Market:
| Attributes | Fast Food & Quick Service Restaurant Market |
|---|---|
| Value-based CAGR (2024 to 2034) | 4.90% |
| Market Trends | Adoption of technology advancements such as wireless portable devices, digital menu cards, point-of-sale, and signage systems |
| Growth Factors | Increasing demand for healthy food and good services worldwide. |
Vegan Fast Food Market:
| Attributes | Vegan Fast Food Market |
|---|---|
| Value-based CAGR (2024 to 2034) | 4.5% |
| Market Trends | Increased knowledge about animal health and cruelty in the food industry |
| Growth Factors | Increasing awareness about the benefits of a vegan diet is expected to drive growth. |
Restaurants and Mobile Food Services Market:
| Attributes | Restaurants and Mobile Food Services Market |
|---|---|
| Value-based CAGR (2024 to 2034) | 3.0% |
| Market Trends | Socioeconomic factors such as high disposable income, an active and increasingly portable lifestyle |
| Growth Factors | Technology replaces the meal delivery sector in the marketplace |
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The fast food & quick service restaurant market can be split up into two segments: product type and type. The dominance of the leaders in the segments is also observed.
| Attributes | Details |
|---|---|
| Top Type | Independent |
| Market Share in 2024 | 63.50% |
The independent segment is expected to hold a market share of 63.50% in 2024, owing to advantages such as independent restaurants and organizations that are not connected with an existing chain or franchise. These quick service restaurants usually are owned and operated locally. They have more freedom in creating their unique menu items and overall ambience.
| Attributes | Details |
|---|---|
| Top Cuisine | Chinese |
| Market Share in 2024 | 28.60% |
The Chinese cuisine segment is expected to grow with a market share of 28.60% in 2024. The Chinese segment is dominating the market owing to its rising popularity. The variety of Chinese cuisine is incredible. It is difficult to think of another food category that is as diversified as Chinese food. Chinese food has a global attraction, with tastes that are preferred by people from all over the world.
The scope of the market is increasing with time. However, certain regions account for a majority of the share in the market.
North America, Europe, and the Asia Pacific dominate the market. The rising trends in Europe and North America are aiding the growth of fast food and quick service restaurants. The increasing demand for fast food from restaurants/franchises in the Asia Pacific aids the growth of the market in the region.
| Countries | CAGR in 2024 |
|---|---|
| United States | 2.70% |
| India | 7.10% |
| Germany | 4.20% |
| China | 6.60% |
| Australia | 4.40% |
Manufacturers are taking benefit of collaborations, mergers with other manufacturers in the market, acquisitions, and more collaborative techniques. Market players are increasingly using collaborations to gain a wider consumer base.
Manufacturers are developing strong brand identities through effective marketing strategies to boost client loyalty. Manufacturing processes are being improved, investments in automation are being made, and the supply chain is being optimized to enhance capacity and meet the increased consumer demand.
Recent Developments in the Fast Food & Quick Service Restaurant Market
In 2024, the size of the fast food & quick service restaurant market is estimated to be US$ 1,97,162.9 million.
Rising popularity of fast food and quick services across the world is one of the major trends in the fast food & quick service restaurant market.
The fast food & quick service restaurant market is expected to progress at a remarkable CAGR of 4.90% from 2024 to 2034.
By 2034, the size of the fast food & quick service restaurant market is forecasted to reach US$ 3,18,111.90 million.
McDonald’s Corporation, Subway IP LLC, Yum! Brands Inc., The Wendy’s Company, and Tata Starbucks Private Limited are some of the prominent players in the fast food & quick service restaurant market.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Type, 2024 to 2034 5.3.1. Chain 5.3.2. Independent 5.4. Y-o-Y Growth Trend Analysis By Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Type, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Cuisine 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Cuisine, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Cuisine, 2024 to 2034 6.3.1. American 6.3.2. Chinese 6.3.3. Italian 6.3.4. Mexican 6.3.5. Japanese 6.3.6. Turkish & Lebanese 6.3.7. Others 6.4. Y-o-Y Growth Trend Analysis By Cuisine, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Cuisine, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Type 8.2.3. By Cuisine 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Type 8.3.3. By Cuisine 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Type 9.2.3. By Cuisine 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Type 9.3.3. By Cuisine 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Type 10.2.3. By Cuisine 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Type 10.3.3. By Cuisine 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Type 11.2.3. By Cuisine 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Type 11.3.3. By Cuisine 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Type 12.2.3. By Cuisine 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Type 12.3.3. By Cuisine 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Type 13.2.3. By Cuisine 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Type 13.3.3. By Cuisine 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Type 14.2.3. By Cuisine 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Type 14.3.3. By Cuisine 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Type 15.1.2.2. By Cuisine 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Type 15.2.2.2. By Cuisine 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Type 15.3.2.2. By Cuisine 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Type 15.4.2.2. By Cuisine 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Type 15.5.2.2. By Cuisine 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Type 15.6.2.2. By Cuisine 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Type 15.7.2.2. By Cuisine 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Type 15.8.2.2. By Cuisine 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Type 15.9.2.2. By Cuisine 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Type 15.10.2.2. By Cuisine 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Type 15.11.2.2. By Cuisine 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Type 15.12.2.2. By Cuisine 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Type 15.13.2.2. By Cuisine 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Type 15.14.2.2. By Cuisine 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Type 15.15.2.2. By Cuisine 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Type 15.16.2.2. By Cuisine 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Type 15.17.2.2. By Cuisine 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Type 15.18.2.2. By Cuisine 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Type 15.19.2.2. By Cuisine 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Type 15.20.2.2. By Cuisine 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Type 15.21.2.2. By Cuisine 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Type 15.22.2.2. By Cuisine 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Type 15.23.2.2. By Cuisine 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Type 16.3.3. By Cuisine 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Quality Is Our Recipe, LLC 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Carrols Restaurant Group, Inc 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. Yum! Brands 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. Darden Concepts, Inc. 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. McDonald's 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Ark Restaurant Corp. 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. DEL TACO RESTAURANT, INC. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Restaurant Brands International Inc 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. Kotipizza Group Oyj 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. Chipotle Mexican Grill 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Fast Food & Quick Service Restaurant Market
