Quick service restaurants: Key market research findings
- Introduction of healthy menus
- Growing marketing initiatives
Technavio has added a new market research report on the global QSRs market, which is expected to grow at a CAGR of around 6% between 2015 and 2019. The increased demand for convenient or on-the-go products is the driving factor for the growth of this market. The Americas lead the global market for quick service restaurant (QSR), occupying around 44% of the total market share. However, APAC is expected to be the fastest growing region over the next four years, owing to the rapid adoption of fast food in countries like China and India.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the QSR market is undergoing tremendous changes in terms of healthy foods and packaging materials. Increasing health consciousness among consumers has pushed various QSRs like Taco Bell, McDonald’s, and Burger King to come up with healthy and nutritious food items including side or full-sized salads, fruits, and fresh vegetables. For instance, McDonald’s Happy Meals menu has apple slices instead of French fries. Also, many QSRs have turned to biodegradable packaging and compostable packaging to enhance their customer base,” says Sriram Mohan, Lead Analyst, Food & Beverage, Technavio Research.
The market vendors are focusing on expanding their base beyond Western countries for greater turnover margins. Various QSRs are expected to witness a better profit potential in regions like India, China, Saudi Arabia, the UAE, Lebanon, and Qatar over the next five years. Consequently, they are introducing new flavors to their existing dishes. Also, various leading QSRs like McDonald’s, Taco Bell, Pizza Hut, Domino’s Pizza, and KFC are promoting their products through online marketing tools for wider reach.
The key vendors in the global quick service restaurants market include McDonald’s, Yum! Brands, Subway and Burger King. The competition in this market is intense with vendors competing on the basis of pricing strategy, product and packaging innovation, menu variation as well the calories intake per meals. The market is predicted to witness brand wars, with vendors offering discount coupons or cutting down their prices to sustain their existing position in the market.
A more detailed analysis is available in the Technavio report, Global QSRs Market – Market Analysis 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- Quick Service Restaurant Market in the US 2015-2019
- Global POS Terminals Market in the Hospitality Sector 2015-2019
- Global Food Logistics Market: Research Report 2015-2019
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