Market Size of united states quick service restaurants Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 406.17 Billion |
|
|
Market Size (2029) | USD 662.53 Billion |
|
Largest Share by Cuisine | Meat-based Cuisines |
|
|
CAGR (2024 - 2029) | 10.28 % |
|
|
Fastest Growing by Cuisine | Ice Cream |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
United States Quick Service Restaurants Market Analysis
The United States Quick Service Restaurants Market size is estimated at 406.17 billion USD in 2024, and is expected to reach 662.53 billion USD by 2029, growing at a CAGR of 10.28% during the forecast period (2024-2029).
406.17 Billion
Market Size in 2024 (USD)
662.53 Billion
Market Size in 2029 (USD)
5.72 %
CAGR (2017-2023)
10.28 %
CAGR (2024-2029)
Largest Segment by Outlet Type
56.59 %
value share, Independent Outlets, 2023
Increasing demand for local fusions of ethnic cuisine, with a preference for ambiance, and the rise in food tourism have benefited the growth of independent restaurants in the United States.
Largest Segment by Cuisine Type
38.59 %
value share, Meat-based Cuisines, 2023
Consumer preferences evolved to more sustainable and ethical meat-sourcing brands, which raised the demand for meat-based cuisines during the study period.
Fastest-growing segment by Outlet Type
10.46 %
Projected CAGR, Chained Outlets, 2024-2029
Consistency in terms of food quality, taste, and service of chained outlets has led local consumers and tourists to opt for chained quick service restaurants.
Fastest-growing segment by Cuisine Type
11.99 %
Projected CAGR, Ice Cream, 2024-2029
The innovation in flavors and features of ice cream include zero or low calorie ice creams, zero-sugar ice creams, and plant-based ice creams.
Leading Market Player
6.47 %
market share, Yum! Brands, Inc., Inc.
It has over 22,000 restaurants with brands KFC, Pizza Hut, and Taco Bell in the United States. Its emphasis on affordable and tasty food has made it a go-to choice for a quick bite.
The expansion of fast food chains throughout the country led to diverse menu options thereby attracting customers
- Through quick service restaurants, meat-based cuisines are expected to dominate in 2023. Over the past three decades, chicken has surpassed beef and pork as the most popular meat product consumed in the United States. In 2022, Americans ate around 96.4 pounds of broiler chickens per capita. Therefore, the majority of Americans favored cuisines based on chicken. The collective sales of all chicken dishes came to USD 36.7 billion in 2022. Recent attractiveness toward chicken has created additional menu offerings from operators. Multiple quick services have added fried chicken sandwiches to their offerings.
- Burgers began to appear on large fast-food service orders in recent years. The distinctly American dish gained popularity as platforms for quick service restaurants (QSRs) began to provide burgers as secure, hygienic, and customizable orders. Burgers became a satisfying, instant meal due to the pandemic of fast delivery eat-at-home orders and the ever-consuming smart-eating millennials. Therefore, in the United States, sales of burgers amounted to USD 69.9 billion in 2022.
- The competition in the QSR industry is fierce and growing. The number of restaurants is projected to register a CAGR of 0.48% during the forecast period. The industry is highly fragmented in the United States, with operators competing on location, menu variety, food quality, and price. The majority of the 250,000 operators in this industry are small and serve a local customer base. The high competition drives down QSR prices. As consumers become more health-conscious, operators must adjust their menus and ingredient quality to remain competitive. Operators in this industry continually alter and expand their menu options to keep up with the ever-changing demand.
Understand The Key Trends Shaping This Market
