NEW YORK, Nov. 11, 2021 /PRNewswire/ -- According to the research report "Quick Service Restaurants Market - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 2.87% in 2021 along with a CAGR of almost 4% between 2020 and 2025.
North America is the largest market for quick service restaurants. Factors such as increasing consumers' preference to eat out, brand loyalty, interest in new restaurant experiences, and the introduction of new cuisines and flavors are creating significant growth opportunities for quick service restaurants manufacturers in North America.
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Vendor Insights
The global quick service restaurants market is fragmented in nature due to the presence of several global and regional players. American Dairy Queen Corp., Chick-fil-A Inc., Doctors Associates LLC, Dominos Pizza Inc., Dunkin Brands Group Inc., Inspire Brands Inc., McDonald Corp., Starbucks Coffee Company, The Wendys Co., and YUM Brands Inc. are some of the dominant vendors featured in the report.
The dominant vendors in the market are competing in terms of brand name, new product innovations in their menus, and pricing. The market is also witnessing the entry of several new players, which is expected to intensify the competition over the forecast period.
Some vendors are focusing on forming new alliances and setting up new plants and outlets across geographies to expand their presence. For instance, in October 2020, Inspire Brands Inc. acquired Dunkin Brand to bring together a family of complementary, highly differentiated brands.
Find additional highlights on the growth strategies adopted by vendors and their product offerings. Read Sample Market Research Report.
Geographical Market Analysis
North America will provide maximum growth opportunities in the quick service restaurants market during the forecast period. According to our research report, the region currently holds 43% of the global market share and is expected to dominate the market through 2025.
The report also offers a detailed analysis of the growth of the market across Europe, APAC, South America, and MEA. In addition, countries such as the US, China, Japan, the UK, and Canada are expected to emerge as prominent markets for quick service restaurants during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/quick-service-restaurants-market-industry-analysis
Key Market Trends & Challenges:
The report identifies the innovations in packaging and serving of food as the major trend influencing the quick service restaurants market. To generate interest and curiosity in the minds of consumers, vendors in the market are considering the use of innovative packaging techniques. Innovative packaging solutions such as biodegradable packaging, compostable packaging, and custom packaging according to the shape and size of the product are being adopted to attract consumer interest. This ongoing trend is expected to generate higher demand for fast food, thereby supporting the growth of the market.
However, fluctuations in raw material prices will pose a challenge to the growth of market players. Irregular climatic changes often result in sudden spikes in the price of food commodities and raw materials such as sugar and dairy. This affects the productivity and profit margins of restaurants, which is impeding the market growth.
View free sample for highlights on market Trends & Challenges affecting the quick service restaurants market.
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Related Reports:
Global Fast Food Market – Global fast food market is segmented by product (non-vegetarian fast food and vegetarian fast food) and geography (North America, APAC, Europe, South America, and MEA).
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Industrial Foodservice Market – Global foodservice market is segmented by sector (commercial and non-commercial), type (conventional, centralized, ready-prepared, and assembly-serve), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
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Quick Service Restaurants Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of almost 4% |
Market growth 2021-2025 |
USD 119.20 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.87 |
Regional analysis |
North America, APAC, Europe, South America, and MEA |
Performing market contribution |
North America at 43% |
Key consumer countries |
US, China, Japan, UK, and Canada |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
American Dairy Queen Corp., Chick-fil-A Inc., Doctors Associates LLC, Dominos Pizza Inc., Dunkin Brands Group Inc., Inspire Brands Inc., McDonald Corp., Starbucks Coffee Company, The Wendys Co., and YUM Brands Inc. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
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