A quick service restaurant (QSR), also referred as fast food restaurant, is a dedicated kind of restaurant that offers quickly prepared fast food. It entails savory as well as sweet dishes within its menu. Originally, the idea of quick service restaurant dates back to 1920s in the US and, now they are deemed to be among the most famous hangouts for families, young working professionals, and teenagers.
The growth of the global quick service restaurant (QSR) market is projected to be driven positively during the forecast period owing to the rising inclination toward fast food around the world among generation X, Y, and Z. Quick service restaurants have developed as key supplier of the mass-produced food that has been drawing a rising count of individuals toward enjoying and experiencing their services. In addition, the global market is projected to witness noteworthy growth in the years to come owing to the good taste, convenience, and economic stability in terms of money & time provided by these restaurants.
Also, health-associated issues regarding the rising consumption of fast food have compelled a majority of fast food makers to come up with healthier products. Thus, they keep updating their recipes and menus further driving the market growth. Fast foods have grown as cuisine for all events. To cite, a lunch meal was hosted by the White House in March 2019 for the North Dakota State Bison football team wherein the food was from Chick-Fil-A and McDonald’s. Items such as fried chicken sandwiches & sauce and Big Macs were on the menu.
The global quick service restaurant (QSR) market is divided on the basis of application, type, and region. Based on type, the market is segregated into software, hardware, and service). Based on application, the market is classified into small consumers and large consumers. Regionally, the global quick service restaurant (QSR) market, in 2019, was ruled by North America. Further, Asia Pacific is anticipated to witness the quickest growth during the forecast period as it has an extensive dispersion of foreign and local fast food restaurant chains. Few of the major restaurant chains marking their presence in this region are Burger King, McDonald’s, and KFC.
Few of the prominent players active within the global quick service restaurant (QSR) market comprise Coffee Day Global Limited, Jubilant FoodWorks Limited, Sapphire Foods India Pvt Ltd, Hardcastle Restaurants Pvt. Ltd. (HRPL), Connaught Plaza Restaurants Limited, Devyani International Limited, Tata Starbucks Private Limited, Burger Kind India Pvt Ltd, Burman Hospitality Private Limited, and Subway System India Pvt Ltd, among others.
