Operations

QSR market to hit $577B by 2028

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August 20, 2021

The quick service market is estimated to reach $577.71 billion by 2028, according to a Market Research Future research report.

The data categorizes "quick-service" as "fast food" and reported that the vast majority of QSRs are franchised chain restaurants, according to a press release on the findings. The store environments are focused on functionality, with a price range of $5 to $8 per meal. Menus consist primarily of portable sandwiches or burgers, wraps and a small variety of prepackaged salads. Food is often taken to go.

The report names the following players in the QSR market:

Subway IP LLC (US).
McDonald's Corporation (US).
Restaurant Brands International Inc. (Canada).
Yum! Brands, Inc. (US).
The Wendy's Company (US).
Domino's Pizza, Inc. (US).
Papa John's International, Inc. (US).
Wallace.
Fujian Food Co., Ltd. (CNHLS) (China).
Inspire Brands, Inc. (US).
The Coca-Cola Company (Costa Coffee) (US).

The QSR chain segment accounted for the largest foodservice market share in 2020, due in part to the rising number of food service outlets around the world.