Consumer Spending in Quick Service Restaurants & Growing Online Food Delivery Services
DUBLIN, Oct. 5, 2020 /PRNewswire/ — The “United States Foodservice Market – Growth, Trends, and Forecast (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.
The US foodservice market is projected to witness a CAGR of 3.7% during the forecast period, 2020-2025.
Increased digitalization of food service is among the primary factors driving the market, as consumers find it comfortable to book prior and make payments online.
Fast food restaurants focusing on organic produce and healthy food are expected to be the focus of the market in the future. In the United States, the demand for organic food is rapidly rising. However, factors, like rising obesity and health awareness among the consumers, are affecting the market growth, as most fast food products are unhealthy.
Key Market Trends
Consumer Spending in Quick Service Restaurants (QSR)
Quick service restaurants (QSRs) are fast food restaurants, set apart from full service or table restaurants by their limited menus, minimal table service, and as their name implies, fast service. QSRs are popular in the United States; it was estimated that there were 194,723 quick-service restaurant franchise establishments in 2018.
Quick service restaurants include limited-service eating places, cafeterias, fast-food restaurants, beverage bars, ice cream parlors, pizza-delivery establishments, carryout sandwich shops, and carry out service shops with on-premises baking of donuts, cookies, and bagels. Contemplating the ease of food consumption in QSRs has lead people US population to spend in these restaurants, therefore, driving the country’s foodservice market.
Growing Online Food Delivery Services
The online food delivery services by restaurants, as well as various platforms, have surged the foodservice market in the United States. Restaurants and other foodservice providers have been actively engaging in digitalizing their operations, and there has been a rise in the number of consumers who prefer to order food online and the number expected to grow as well. The home delivery system, mainly in the case of pizza, has been another primary driver for the market.
Online platforms to order food for delivery have been successful concepts due to the ease of choosing food items and convenient payment procedures. Notably, in 2018, more than 70 million consumers in the United States engaged in ordering food online from restaurants.
Competitive Landscape
The major players in the United States foodservice market are Mcdonald’s Corp., Yum! Brands Inc., Burger King Worldwide Inc., Starbucks Corp., Chipotle Mexican Grill Inc., Doctor’s Associates Inc., Seven & I Holdings Co. Ltd, Dunkin’ Donuts, Sonic Drive-In, and Papa John’s.
The chained consumer foodservice segment is growing at a fast rate, due to the increased investments by international brands, such as the United Kingdom and China, and restaurants in the United States. Introducing new exotic flavors and mixes is the strategy adopted by the companies to gain a competitive advantage in the market. According to the latest consumer trend, the introduction of organic food products in the market is likely to raise the prospects of the companies in the same.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Full Service Restaurant
5.1.2 Self Service Restaurant
5.1.3 Fast Food
5.1.4 Street Stall and Kiosk
5.1.5 Cafe and Bar
5.1.6 100% Home Delivery Restaurant
5.2 By Structure
5.2.1 Independent Consumer Foodservice
5.2.2 Chained Consumer Foodservice
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 McDonald’s Corp.
6.4.2 Yum! Brands Inc.
6.4.3 Doctor’s Associates Inc.
6.4.4 Seven & I Holdings Co. Ltd
6.4.5 Burger King Worldwide Inc.
6.4.6 Starbucks Corp.
6.4.7 Chipotle Mexican Grill Inc.
6.4.8 Papa John’s
6.4.9 Dunkin’ Donuts
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9974kw
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
