Report: Global QSRs to grow 4.6% by 2022
The QSR market will grow at a CAGR of 4.61 percent by 2022, according to ResearchAndMarkets.com's Global Quick Service Restaurants Market 2018-2022 report. A primary driver of growth in this market, according to the research, is an overall rise in the sheer number of QSR locations worldwide.
Emerging nations have a high demand for fast food, which is pushing rapid expansion of QSR construction in those countries, according to the report. This growth, in turn, is motivating fast food chains to extensively expand across the domestic and international landscape.
The company said that a primary trend in the QSR market is take-out food packaging innovations. Chains and independents are using this area of business to generate interest with consumers by using biodegradable and compostable packaging, as well as customizing the shapes and sizes for such products, similar to the compostable pizza box.
However, the report also said that substantial fluctuations in the price of raw materials for restaurants are challenging them operationally. One major challenge for almost all QSRs, the report said, is price fluctuations for food aand raw material commodities, like the sugar and dairy products so vital to a healthy beverage program.
Companies: Research and Markets