Latest News- Quick Service Restaurants Market: Eat-in service is expected to lead the Service segment during 2025-2029

The Quick Service Restaurants Market is being driven by Rise in number of quick service restaurants

The Quick Service Restaurants Market is expected to grow at a CAGR of 2.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 63.8 billion. In the competitive landscape of the Quick Service Restaurants (QSR) market, packaging plays a pivotal role in enhancing brand value and consumer engagement. Innovative packaging solutions, such as biodegradable and compostable options, are gaining popularity due to their eco-friendly attributes. Additionally, corrugated packaging has emerged as a preferred choice for QSRs due to its thermal insulation properties, ensuring food stays hot for extended periods. This feature is particularly beneficial for on-the-go meals. Moreover, the protected fluting material in corrugated packaging keeps food fresh and prevents spills, enhancing the overall dining experience for customers. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Service
  • Eat-in service
  • Takeaway service
  • Drive-thru service
  • Home delivery service
• Type
  • Chain
  • Independent
• Product Type
  • Burger and sandwich
  • Pizza
  • Asian cuisine
  • Frozen desserts and ice cream
  • Others
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in number of quick service restaurants
• Changing lifestyles and rise in demand for on-the-go food
• Growing innovation and customization in food menu

However, the market also witnesses some limitations, which are as follows:

• Fluctuations in raw material prices
• Growing preference for home-cooked food
• Risks associated with suppliers

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Market Scope in Quick Service Restaurants Market Research Report

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Research Analysis Overview

Quick Service Restaurants (QSRs) are leveraging various technologies to enhance operations and customer experience. Integration of online ordering systems and payment gateways, third-party delivery apps, and customer feedback mechanisms are key focus areas. Performance tracking of staff, energy consumption monitoring, and supply chain optimization are essential for efficiency. Peak hour management, table turnover rate, average order value, and customer acquisition cost are crucial metrics for business growth. Customer retention rate, employee turnover rate, food spoilage reduction, order accuracy metrics, and delivery time optimization are important for maintaining quality and reducing costs. Profit margin analysis, kitchen efficiency metrics, service speed metrics, order fulfillment speed, inventory turnover rate, customer lifetime value, employee satisfaction surveys, health inspections compliance, restaurant security systems, and data-driven decision making are essential for long-term success.

Market Research Overview

In the dynamic business landscape of the global hospitality industry, Quick Service Restaurants (QSRs) are experiencing significant growth. Technavio's market analysis identifies Kitchen Display Systems, Order Management Systems, Inventory Management Software, and Restaurant Management Systems as key technologies driving this trend. These solutions enhance operational efficiency, reduce errors, and improve customer experience. The parent market, comprising hotels, resorts, and cruise lines, is projected to expand due to the burgeoning travel and tourism sector. As millions continue to travel annually from both emerging and developed economies, the demand for QSRs within this industry will escalate.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/