The global fast food and quick service restaurant (QSR) products market is estimated to reach USD 773.3 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030. The market is driven by the increasing demand for convenient, ready-to-eat food products, rising health consciousness among consumers, and the growing preference for fast food and QSR outlets worldwide. In addition, the rise in the number of QSR outlets is expected to boost the demand for these products in the coming years.

The growing demand for convenience food products from customers has pushed the market players to introduce innovative products. For instance, in April 2021, Burger King launched a new vegan burger, the Rebel Whopper, in the UK. The vegan burger is made with a plant-based patty, tomato, lettuce, vegan mayonnaise, and pickles. This launch was aimed at capturing the growing demand for vegan products. Furthermore, the increasing focus on the development of new and healthy products is expected to drive the product demand in the coming years.

The market is majorly driven by the growing demand for convenience food products. The growing number of working-class individuals and their hectic lifestyles are prompting customers to opt for ready-to-eat food products. Moreover, the rising trend of snacking is further contributing to the growth of the market. Furthermore, the advent of technology has changed the way food is ordered, prepared, and served, which is driving the market growth. For instance, in October 2020, McDonalds launched its ‘McDelivery with Uber Eats’ app in the UK. This app allows customers to order McDonald’s products from their preferred restaurant and get them delivered to their doorstep via Uber Eats.

Moreover, the increasing trend of premiumization across various food products is propelling the demand for the market. Furthermore, the growing number of collaborations between food manufacturers and QSR outlets to introduce new products is further driving the market growth. For instance, in January 2021, KFC and Beyond Meat partnered to launch the Beyond Fried Chicken in select locations in the United States. This launch was aimed at targeting the growing demand for plant-based proteins. Moreover, the growing trend of health-consciousness among consumers is expected to fuel the demand for the market in the coming years.

Burgers & sandwiches composed the largest market segment and accounted for a share of around 38.4% in 2022. The popularity of burgers & sandwiches is attributed to their convenience, affordability, and availability. Additionally, the emergence of various fast-food chains and quick-service restaurants is also contributing to the growth of the segment. According to an article published by Business Insider in October 2019, fast-food restaurants, including quick-service restaurants, are the most popular food destinations among American teens.

The pizza segment is anticipated to expand at the fastest CAGR of 8.9% over the forecast period. The increasing demand for convenience foods and the introduction of various pizza flavors are some of the key factors driving the pizza segment. In addition, the emergence of various quick-service restaurants and food delivery services is also contributing to the growth of the segment. According to an article published by the National Restaurant Association, in April 2019, pizza is the most popular food item among American consumers.

The quick service restaurants segment captured a major market share of over 37.6% in 2022. The growth of the segment is mainly due to the increasing number of leading quick service restaurants across the globe. These restaurants offer a wide range of fast food and snacks at reasonable prices, which is further boosting the segment growth. Moreover, customers usually prefer to visit quick service restaurants for their convenience and affordability. Additionally, with the introduction of online ordering, customers can now order their favorite food items through the restaurant’s website or mobile application, which is further propelling the segment growth.

The supermarkets segment is expected to register the highest CAGR of 5.3% over the forecast period. Supermarkets are gaining popularity among customers owing to the wide range of fast food products available at these stores. Customers usually prefer to purchase fast food products from supermarkets as these products are of premium quality and are offered at reasonable prices. Moreover, supermarkets are also offering convenience to customers by providing online delivery services. All these factors are expected to drive the segment growth over the forecast period.

The fast-food segment accounted for the largest revenue share of 65.1% in the year 2022. The growth of the fast-food segment can be attributed to the increasing number of fast-food restaurants in the market. The growing popularity of fast-food restaurants is driven by the convenience they offer customers, who can purchase food quickly and take it home or consume it on the premises. Furthermore, the growing popularity of online delivery services is boosting the demand for fast-food, as customers can order food online and get it delivered with minimum wait time.

The quick service restaurant segment is expected to expand at the highest CAGR of 7.2% over the forecast period. The increasing popularity of QSRs is attributable to the fact that they offer a wide range of food items in a short time. Furthermore, the introduction of technological advancements such as mobile ordering, automated kiosks, and digital menus is also driving the growth of the QSR segment. For instance, in October 2019, McDonald’s announced the launch of its digital kiosk and mobile ordering service in locations across the United States.

North America is expected to dominate the market and accounted for the largest revenue share of over 36.5% in 2022. This is attributed to the presence of a large number of fast food restaurants as well as the growing prevalence of on-the-go lifestyles among consumers in the region. Furthermore, the rising popularity of value meals offered by quick-service restaurants is also driving the growth of the market in North America. For instance, in November 2021, Burger King launched its new ‘Value Bites’ menu in the U.S.

Asia Pacific is expected to witness the second-fastest growth in the coming years. Rising disposable incomes and urbanization are driving the demand for convenience food in the region. In addition, an increase in the number of working women, influence of western culture, and changing food habits of consumers are also driving the market growth in this region. For instance, in June 2021, McDonald’s opened its first restaurant in China offering drive-thru and delivery services.

In this part of the fast food & quick service restaurant products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your fast food & quick service restaurant products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for a fast food & quick service restaurant products business comes from sales of food items, beverages, and other items such as condiments and utensils. Here you will find a list with a description of each of them and other possible sources of profit such as catering services and special events.

Projecting Expenses

In this section, all the regular expenses related to keeping the fast food & quick service restaurant products business running will be described. The list of operating expenses includes rent, wages, supplies, equipment, utilities, insurance policies, advertising, and others.

Some of the key companies operating in the fast food and quick service restaurant market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In May 2022, McDonald’s launched a new meal experience program, allowing customers to customize their orders.

– In July 2022, Burger King launched a new range of plant-based burgers.

– In August 2022, KFC launched the ‘KFC Go Cup’, a selection of 30-minute meals designed to meet the needs of customers on the go.

Some of the prominent players in the fast food and quick service restaurant market include:

– McDonald’s Corporation
– Yum! Brands Inc.
– Starbucks Corporation
– Domino’s Pizza Inc.
– Burger King Corporation
– Subway
– Dunkin’ Donuts
– KFC
– Taco Bell
– Wendy’s International LLC

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global fast food & quick service restaurant products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Burgers
– Sandwiches
– Pizza
– Salads
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Dine-in
– Take-away
– Drive-through
– Delivery
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Fast Food
– Quick Service Restaurant

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Market Outlook for Fast Food & Quick Service Restaurants?
[A]: The global fast food & quick service restaurant market is expected to reach USD 584.86 billion by 2026, with a CAGR of 3.2%. This growth is due to the changing lifestyle of people and increasing focus on convenience. The industry is anticipated to be driven by the increasing number of outlets and growing demand for convenience food.

[Q]: What are the Factors Driving the Growth of the Market?
[A]: Factors such as rapid urbanization, changing lifestyle, rising disposable income, and the availability of a wide range of convenience food products are expected to drive the market growth over the forecast period. In addition, the increasing trend of online ordering and delivery services will create additional opportunities for the market.

[Q]: Who are the Key Players in the Fast Food & Quick Service Restaurant Market?
[A]: Key players in the market include McDonald’s Corporation, Yum! Brands Inc., Starbucks Corporation, Domino’s Pizza Inc., Dunkin’ Brands Group Inc., Subway, Burger King, Wendy’s, KFC, and Pizza Hut.

[Q]: What are the Growth Strategies Adopted by Players in the Market?
[A]: Players are adopting strategies such as product innovation and new product launches, mergers & acquisitions, and strategic partnerships to gain a competitive edge in the market. For instance, in 2019, Burger King launched Impossible Whopper, a plant-based burger, to attract more customers.

[Q]: What are the Challenges Faced by the Fast Food & Quick Service Restaurant Market?
[A]: The key challenge faced by the industry is the rising health concerns among customers due to the high-calorie content of fast food & quick service restaurant products. This is hampering the growth of the market. Moreover, increasing competition from other food outlets is also affecting the market growth.