Key Takeaways
- In 2023, the U.S. quick-service restaurant (QSR) industry generated total sales of $404.3 billion, marking a 7.2% increase from 2022.
- Global QSR market size reached $1.05 trillion in 2023, projected to grow to $1.68 trillion by 2030 at a CAGR of 6.8%.
- QSR segment accounted for 37% of total U.S. restaurant industry sales in 2023, up from 35% in 2020.
- 68% of U.S. consumers visited QSR weekly in 2023, up from 62% in 2022.
- 42% of Gen Z prefer QSR for dinner occasions in 2023 surveys.
- Mobile ordering app usage in QSR rose to 51% of orders in 2023 U.S.
- QSR average food cost percentage was 28.4% in 2023 U.S. operations.
- Labor costs consumed 31.2% of QSR revenues in 2023 amid shortages.
- Average QSR drive-thru service time was 227.5 seconds in 2023.
- McDonald's held 43.2% U.S. QSR market share by sales in 2023.
- Starbucks commanded 36% of QSR coffee sales in U.S. 2023.
- Subway unit count reached 37,000 in U.S., most QSR locations 2023.
- QSR market in California represents 12.4% of U.S. total sales 2023.
- Texas QSR outlets density highest at 1 per 2,100 residents 2023.
- Florida QSR tourism boost added $18B sales in 2023 peak season.
The QSR industry is growing robustly with increasing digital sales and global expansion.
Chains & Competition
- McDonald's held 43.2% U.S. QSR market share by sales in 2023.
- Starbucks commanded 36% of QSR coffee sales in U.S. 2023.
- Subway unit count reached 37,000 in U.S., most QSR locations 2023.
- Chick-fil-A average sales per unit topped $9.4 million in 2023.
- Taco Bell expanded to 8,000+ U.S. units, +2.1% YoY 2023.
- Wendy's systemwide sales hit $12.3 billion globally 2023.
- Domino's Pizza digital sales share 85% of total U.S. orders 2023.
- Dunkin' grew U.S. footprint by 250 net new stores in 2023.
- Burger King U.S. sales $11.2 billion, market share 8.7% 2023.
- Chipotle Mexican Grill AUV $2.8 million, highest fast-casual 2023.
- KFC global outlets 27,000, China leading with 10,000+ in 2023.
- Sonic Drive-In sales per unit $2.1 million average 2023 U.S.
- Popeyes Louisiana Kitchen grew U.S. sales 12% to $5.6B 2023.
- Panera Bread QSR-like units sales $4.9 billion 2023.
- Arby's roast beef segment leader with $4.7B sales 2023.
- Pizza Hut U.S. market share 14% in pizza QSR 2023.
- Five Guys burger chain expanded 150 international units 2023.
- Shake Shack IPO chains AUV $3.2M in mature units 2023.
- Jersey Mike's subs grew 200+ U.S. stores, sales +15% 2023.
- Raising Cane's Chicken Fingers 700 units, sales $2.5B 2023.
- Wingstop wings specialist sales $3.1B, +20% growth 2023.
- Culver's butterburgers 900+ units, AUV $2.9M 2023.
- In-N-Out Burger 390 units, highest loyalty scores 2023 QSR.
- Tim Hortons Canada dominance 3,800 stores, U.S. expansion 2023.
- Jack in the Box 2,200 units, turnaround sales +4% 2023.
- Del Taco merged chain 600 units post-acquisition 2023.
- U.S. QSR sales concentrated in top 10 chains at 62% share 2023.
- Asia QSR competition led by KFC/McD with 25% combined share 2023.
Chains & Competition Interpretation
Consumer Trends & Preferences
- 68% of U.S. consumers visited QSR weekly in 2023, up from 62% in 2022.
- 42% of Gen Z prefer QSR for dinner occasions in 2023 surveys.
- Mobile ordering app usage in QSR rose to 51% of orders in 2023 U.S.
- 73% of QSR customers value speed of service as top priority in 2023.
- Plant-based menu adoption influenced 29% of millennials' QSR choices in 2023.
- Drive-thru preference stood at 78% among families with kids in 2023.
- 55% of consumers seek value meals amid inflation in QSR 2023 polls.
- Health-conscious options chosen by 47% of QSR visitors weekly in 2023.
- Loyalty apps drove 34% repeat visits in QSR per 2023 data.
- 61% of Boomers prefer dine-in QSR over delivery in 2023.
- Spicy menu items boosted satisfaction scores by 12% in QSR 2023.
- 49% of urban consumers order QSR via third-party delivery weekly 2023.
- Sustainability claims sway 38% of QSR purchase decisions in 2023.
- Breakfast daypart visits up 14% among remote workers in QSR 2023.
- 67% prioritize contactless payment in QSR post-pandemic 2023.
- Women represent 52% of QSR lunch crowd in workplace areas 2023.
- 44% of consumers try new QSR chains yearly via social media 2023.
- Value perception index for QSR dropped 8% due to price hikes 2023.
- 76% of parents use QSR kids' meals 2+ times monthly 2023.
- Late-night QSR visits (after 9pm) comprise 12% of sales 2023.
- 59% favor QSR customization options in orders 2023 surveys.
- Electric vehicle charging at QSR influences 22% EV owner visits 2023.
- 35% of Hispanics prefer Mexican QSR over others in U.S. 2023.
- QSR app ratings average 4.6/5 stars with 2.1 million reviews 2023.
- 48% skip QSR due to long lines, per time-strapped consumers 2023.
Consumer Trends & Preferences Interpretation
Market Size & Revenue
- In 2023, the U.S. quick-service restaurant (QSR) industry generated total sales of $404.3 billion, marking a 7.2% increase from 2022.
- Global QSR market size reached $1.05 trillion in 2023, projected to grow to $1.68 trillion by 2030 at a CAGR of 6.8%.
- QSR segment accounted for 37% of total U.S. restaurant industry sales in 2023, up from 35% in 2020.
- U.S. QSR drive-thru sales hit $218 billion in 2023, representing 54% of total QSR sales.
- QSR industry in the U.S. employed 4.1 million people in 2023, with average hourly wage of $15.2.
- Chicken segment in QSR grew sales by 11.3% year-over-year in 2023, reaching $52.4 billion.
- Burger QSR sales in U.S. totaled $127.5 billion in 2023, comprising 31.5% of QSR market.
- QSR digital sales share reached 25.4% of total sales in U.S. in Q4 2023.
- Mexico's QSR market valued at $12.8 billion in 2023, with 8.2% CAGR expected through 2028.
- Asia-Pacific QSR market grew 9.1% in 2023 to $452 billion, driven by urbanization.
- U.S. QSR average unit volume (AUV) for top chains was $2.9 million in 2023.
- QSR franchise ownership accounted for 92% of U.S. units in 2023.
- Delivery sales in QSR surged 18% YoY to $45.6 billion in U.S. 2023.
- QSR coffee segment sales hit $18.7 billion in U.S. 2023, up 5.4%.
- Sandwich QSR category sales reached $38.2 billion in 2023, growing 6.8%.
- U.S. QSR inflation-adjusted sales grew 4.2% in 2023 despite economic pressures.
- Global QSR outlets numbered 2.3 million in 2023, with 45% in Asia.
- Taco QSR sales in U.S. totaled $15.9 billion in 2023, +9.7% YoY.
- Pizza QSR slice grew to $22.1 billion in U.S. sales 2023.
- Breakfast QSR sales accounted for 28% of daily sales in U.S. 2023.
- QSR loyalty program membership reached 65 million active users in U.S. 2023.
- U.S. QSR market penetration stood at 92% of adults visiting monthly in 2023.
- Plant-based QSR menu items sales up 24% to $1.2 billion in 2023 U.S.
- QSR average check size increased 6.1% to $11.45 in U.S. 2023.
- European QSR market valued at $210 billion in 2023, CAGR 5.9% to 2028.
- U.S. QSR same-store sales growth averaged 3.8% in 2023 for top 50 chains.
- Beverage sales in QSR contributed 15.3% of total revenue in U.S. 2023 ($61.8B).
- QSR remodel investments totaled $4.2 billion across U.S. chains in 2023.
- Middle East QSR market hit $28.5 billion in 2023, +10.2% growth.
- U.S. QSR transaction volume reached 28.4 billion in 2023.
Market Size & Revenue Interpretation
Operations & Efficiency
- QSR average food cost percentage was 28.4% in 2023 U.S. operations.
- Labor costs consumed 31.2% of QSR revenues in 2023 amid shortages.
- Average QSR drive-thru service time was 227.5 seconds in 2023.
- Inventory turnover ratio for QSR averaged 45 times per year 2023.
- Energy costs rose 11% for QSR units, averaging $2,400 monthly 2023.
- QSR waste reduction initiatives cut food waste by 18% in 2023 pilots.
- POS system uptime averaged 99.2% for top QSR chains 2023.
- Employee turnover rate in QSR hit 112% annually in 2023 U.S.
- Kitchen equipment efficiency improved 9% with AI scheduling 2023.
- QSR average table turn time for limited dine-in was 12.4 minutes 2023.
- Supply chain disruptions affected 23% of QSR deliveries in 2023.
- Automation kiosks reduced labor by 15% in 40% of QSR locations 2023.
- QSR average rent expense was 7.8% of sales in prime locations 2023.
- Food safety incidents dropped 22% due to digital tracking 2023.
- Peak hour staffing efficiency at 92% for optimized QSRs 2023.
- QSR delivery fulfillment time averaged 28 minutes in 2023.
- Utility costs per sq ft in QSR were $3.45 monthly 2023 average.
- Predictive analytics cut stockouts by 34% in QSR inventory 2023.
- QSR training hours per new hire averaged 24 hours in 2023.
- Drive-thru lane utilization peaked at 85% capacity 2023 rushes.
- QSR packaging costs rose 14% to $0.42 per order 2023.
- Voice AI order accuracy reached 96.7% in QSR tests 2023.
- Franchise royalty fees averaged 5.1% of gross sales 2023 QSR.
- QSR unit-level profit margin averaged 15.2% before corp overhead 2023.
Operations & Efficiency Interpretation
Regional & Global Insights
- QSR market in California represents 12.4% of U.S. total sales 2023.
- Texas QSR outlets density highest at 1 per 2,100 residents 2023.
- Florida QSR tourism boost added $18B sales in 2023 peak season.
- New York City QSR average sales per unit $3.1M highest urban 2023.
- Midwest U.S. QSR growth 5.2% YoY driven by value focus 2023.
- Southeast U.S. chicken QSR dominance at 28% category share 2023.
- China QSR market largest globally $250B, McD/KFC lead 2023.
- India QSR CAGR 18% to $3.4B by 2025, urban youth drive 2023.
- Brazil QSR sales $15.2B, McD largest with 1,000 units 2023.
- UK QSR market £22B, delivery 30% share post-Brexit 2023.
- Australia QSR per capita spend $450 AUD highest developed 2023.
- Middle East UAE QSR growth 11% to $4.5B expat influence 2023.
- Canada QSR 38% of foodservice, Tim Hortons 20% share 2023.
- Northeast U.S. QSR breakfast sales 32% of daypart 2023.
- Southwest U.S. Mexican QSR 45% market penetration 2023.
- Germany QSR €18B, kebab/doner 25% segment leader 2023.
- Japan QSR konbini integration 15,000 outlets hybrid model 2023.
- South Africa QSR $2.1B, Nando's local leader 35% share 2023.
- Pacific Northwest U.S. sustainable QSR 22% premium pricing 2023.
- France QSR €15B, baguette sandwiches 18% category 2023.
Regional & Global Insights Interpretation
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