The Latest Quick Service Restaurant Industry Statistics Explained
As of 2020, the global market value for the quick service restaurant (QSR) industry is approximately $257.9 billion USD.
The statistic indicates that in 2020, the global market value for the quick service restaurant (QSR) industry amounted to approximately $257.9 billion USD. This figure represents the total revenue generated by fast-food chains and quick-service restaurants around the world in that year. The substantial market value highlights the significant size and economic importance of the QSR industry on a global scale, reflecting the widespread popularity and consumer demand for quick and convenient dining options. This statistic is crucial for stakeholders such as investors, industry analysts, and policymakers to understand the financial landscape of the QSR industry and make informed decisions based on market trends and opportunities.
The QSR industry is projected to reach a value of $690.80 billion by 2026.
The statistic that the Quick Service Restaurant (QSR) industry is projected to reach a value of $690.80 billion by 2026 indicates the anticipated growth and economic significance of the industry over the coming years. This projected value suggests a substantial increase in revenue generated by quick service restaurants, reflecting factors such as increasing consumer demand, expanding market opportunities, and potential innovations within the industry. Such a significant projection can have implications for various stakeholders, including investors, policymakers, and industry players, highlighting the importance of monitoring trends and developments in the QSR sector to capitalize on opportunities and navigate potential challenges for sustainable growth and success.
The Compound Annual Growth Rate (CAGR) for the QSR industry is expected to be 5.32% from 2021 to 2026.
The Compound Annual Growth Rate (CAGR) of 5.32% for the Quick Service Restaurant (QSR) industry from 2021 to 2026 indicates the estimated average annual growth rate over that period. This statistic suggests that the QSR industry is expected to grow steadily at a rate of 5.32% per year during the specified timeframe. Investors, analysts, and industry stakeholders may use the CAGR to assess the industry’s performance and potential future growth, helping them make informed decisions regarding investments, strategic planning, and market positioning within the QSR sector.
The U.S. QSR market has over 192,159 establishments in 2021.
The statistic that the U.S. Quick Service Restaurant (QSR) market has over 192,159 establishments in 2021 indicates the significant presence of fast-food and fast-casual dining options across the country. This number reflects the widespread popularity and demand for quick and convenient dining options among consumers. The large number of establishments also signifies the competitive nature of the QSR industry, with numerous chains and independent restaurants vying for market share. Additionally, the high volume of QSR establishments highlights the economic impact of the industry, providing employment opportunities and contributing to the overall food service sector’s growth and revenue in the United States.
McDonald’s holds the top position in global QSR industry sales, with $130.4 billion in systemwide sales in 2019.
The statistic stating that McDonald’s holds the top position in global QSR (Quick Service Restaurant) industry sales, with $130.4 billion in systemwide sales in 2019, highlights the immense market dominance and financial success of the fast-food giant. The substantial sales figure underscores McDonald’s strong presence and popularity on a global scale, surpassing its competitors in the QSR industry. This statistic signifies McDonald’s ability to consistently attract a large customer base and generate significant revenue, positioning the company as a leader in the highly competitive fast-food market.
37% of U.S. consumers will be using a restaurant’s mobile app to order food by 2020.
The statistic states that by the year 2020, 37% of U.S. consumers are projected to utilize a restaurant’s mobile application for the purpose of ordering food. This trend suggests a significant shift towards the integration of technology within the restaurant industry as a means of enhancing convenience and efficiency for consumers. The increasing reliance on mobile apps for food ordering highlights the importance of digital platforms in streamlining processes and meeting the evolving needs of customers. It also signifies a growing preference for convenience and accessibility in the dining experience among U.S. consumers, which may have implications for the way restaurants operate and engage with their customer base in the future.
About 7.3 million people were employed in the U.S. QSR industry in 2018.
The statistic “About 7.3 million people were employed in the U.S. QSR industry in 2018” indicates that approximately 7.3 million individuals were working in the Quick Service Restaurant (QSR) industry in the United States during the year 2018. This statistic highlights the significant role that the QSR industry plays in providing employment opportunities for a substantial number of people in the country. It suggests that the industry contributes significantly to the overall labor market and economy, employing a large workforce to meet the demands of consumers for quick and convenient dining options. The figure serves as a key indicator of the industry’s scale and importance in terms of job creation and workforce engagement in the U.S. in the specified year.
Pizza Hut is the leading pizza chain in the QSR industry with over 18,703 units as of 2019.
The statistic ‘Pizza Hut is the leading pizza chain in the QSR (Quick Service Restaurant) industry with over 18,703 units as of 2019’ indicates that Pizza Hut has the largest number of restaurant locations compared to its competitors in the fast-food pizza industry. The figure of 18,703 units signifies the extensive presence of Pizza Hut both domestically and internationally, highlighting its popularity and market dominance. This statistic not only reflects Pizza Hut’s strong brand recognition and customer base but also underscores its competitive advantage in terms of market share and reach within the QSR industry, positioning it as a key player in the pizza business.
53% of quick service and fast casual restaurant operators plan to devote more resources to digital marketing in 2020.
The statistic indicates that a significant portion, specifically 53%, of operators in the quick service and fast casual restaurant industry have intentions to increase their allocation of resources towards digital marketing strategies in the year 2020. This suggests a growing recognition among industry players of the importance and effectiveness of leveraging digital channels such as social media, online advertising, and mobile applications to reach and engage with customers. By prioritizing digital marketing efforts, these operators aim to enhance brand visibility, attract new customers, and drive sales growth in a competitive market environment where online presence and customer engagement are increasingly crucial for success.
Over 60% of QSR customers spend up to $10 per visit.
This statistic suggests that a majority of quick-service restaurant (QSR) customers, specifically over 60%, typically spend no more than $10 per visit. This indicates that a significant portion of customers are likely making lower-value purchases when dining at QSR establishments. Understanding the spending habits of QSR customers can help businesses tailor their menu offerings and pricing strategies to cater to this customer segment. It also highlights the importance of providing value for money in order to attract and retain customers within this price range.
Online food delivery sales in the QSR sector were $20 billion in 2019.
The statistic that ‘Online food delivery sales in the QSR sector were $20 billion in 2019’ indicates the total revenue generated through online food delivery services within the quick-service restaurant (QSR) industry in that year. This figure represents the significant growth and popularity of online food delivery services, showcasing the increasing consumer preference for the convenience of ordering food online. The $20 billion value emphasizes the substantial market size and economic impact of online food delivery within the QSR sector, reflecting the evolving consumer behavior and the digital transformation of the food service industry towards more tech-savvy and efficient delivery models.
Drive-thru operations accounted for 70% of QSR sales in 2021.
The statistic ‘Drive-thru operations accounted for 70% of QSR sales in 2021’ indicates that the majority of sales in the Quick Service Restaurant (QSR) industry were attributed to drive-thru services during the year 2021. This suggests that customers favored the convenience and efficiency of drive-thru options, potentially driven by factors such as the ongoing COVID-19 pandemic, which limited dine-in options and increased interest in contactless service. The high percentage of sales from drive-thru operations underscores the importance for QSR establishments to prioritize and optimize their drive-thru capabilities to meet consumer demand and remain competitive in the market.
The revenue per employee for a QSR in the U.S was $55,000 in 2020.
The statistic that the revenue per employee for a Quick-Service Restaurant (QSR) in the United States was $55,000 in 2020 indicates the average amount of revenue generated by each employee working in the QSR industry during that year. This metric provides insight into the efficiency and productivity of a QSR in terms of revenue generation per employee. A higher revenue per employee suggests that a QSR is effectively utilizing its workforce to drive sales and profits. Comparing this figure to industry benchmarks and trends can help assess the performance of QSR businesses in terms of employee productivity and revenue generation. Additionally, monitoring changes in revenue per employee over time can provide valuable information on the financial health and effectiveness of a QSR operation.
The average check size at a QSR was $5.96 in Q3 2021.
The statistic “The average check size at a QSR was $5.96 in Q3 2021” indicates the typical amount spent by customers per transaction at a quick-service restaurant during the third quarter of the year. This average check size of $5.96 serves as a useful metric for the restaurant industry to understand customer spending patterns and track changes in consumer behavior over time. Analyzing this statistic can provide insights into pricing strategies, menu offerings, and overall business performance within the QSR sector, helping businesses make informed decisions to optimize sales and profitability.
As of 2017, there were 273,000 QSRs in the United States.
The statistic “As of 2017, there were 273,000 QSRs in the United States” provides a numerical snapshot of the quick-service restaurant (QSR) industry in the country at that specific point in time. The figure of 273,000 represents the total count of QSRs operating within the geographical boundaries of the United States by the end of 2017. Quick-service restaurants are known for their fast and convenient food offerings, characterized by prompt service and easy accessibility. This statistic sheds light on the significant presence and scale of the QSR sector in the U.S., showcasing its prevalence and popularity as a dining option for consumers across the nation as of 2017.
The QSR sector is expected to grow at a CAGR of 3.8% from 2020-2027.
The statistic indicates that the Quick Service Restaurant (QSR) sector is projected to experience a compound annual growth rate (CAGR) of 3.8% from the year 2020 to 2027. This means that, on average, the QSR industry is estimated to increase its revenue or market size by 3.8% annually over this period. This growth trend suggests a positive outlook for the QSR market over the next seven years, driven by factors such as changing consumer preferences, technological advancements, and demographic shifts. Businesses operating within the QSR sector may need to adapt to these changing dynamics to capitalize on the growth opportunities and stay competitive in the market.
In 2019, North America held the largest market share for QSR at 35.6%.
The statistic states that in 2019, North America had the largest market share for Quick Service Restaurants (QSR) at 35.6%. This means that out of all the regions and countries around the world, North America had the highest percentage of the QSR market share. This information indicates that QSRs were most popular and dominant in North America compared to other regions. Factors contributing to North America’s large market share could include the popularity of fast food, consumer preferences for quick and convenient dining options, as well as the presence of well-established QSR chains in the region.
Over 60% of U.S. consumers order delivery or takeout once a week.
The statistic ‘Over 60% of U.S. consumers order delivery or takeout once a week’ suggests that a significant majority of consumers in the United States regularly opt for the convenience and ease of ordering food for delivery or takeout at least once a week. This trend underscores a shift in consumer behavior towards seeking out quick and hassle-free meal solutions, potentially driven by factors such as busy lifestyles, increased availability of food delivery services, and changing dining preferences. Understanding this statistic is important for businesses in the food industry to tailor their offerings and marketing strategies to cater to this prevalent consumer behavior and capitalize on the demand for delivery and takeout services.
The average number of visits to QSR per capita in the United States was 35 times per year in 2020.
The statistic indicates that on average, each person in the United States visited Quick Service Restaurants (QSRs) 35 times in 2020. This measurement provides insight into the frequency at which individuals in the country patronized fast-food establishments throughout the year. By calculating this average number of visits per capita, it offers a simple but effective way to understand the overall level of engagement with QSRs nationwide. This statistic can be valuable for QSR chains, policymakers, and market analysts in assessing consumer behavior, trends in dining habits, and the popularity of fast-food options within the United States.
References
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