U.S. Fast Food & Quick Service Restaurant (QSR) Market Size, Share, Analysis, Trends, Growth, 2032

U.S. Fast Food & Quick Service Restaurant (QSR) Industry Prospective:

The U.S. fast food & quick service restaurant (QSR)  market size was evaluated at $405 billion in 2023 and is slated to hit $663 billion by the end of 2032 with a CAGR of nearly 10.3% between 2024 and 2032.

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U.S. Fast Food & Quick Service Restaurant (QSR) Market: Overview

Quick-service and fast-food restaurants are a key part of the food service sector. They deliver fast service and are reputed fast food chains. In the U.S., there are a few fast food & quick service restaurants, including MacDonald’s, Burger King, Panera Bread, Starbucks, Domino, and Check-fill-A. Furthermore, there are various successful fast food chains such as Portillo’s Hot Dogs, In-N-Out Burger, Culver, Bojangles, and Whataburger.

Key Insights

• As per the analysis shared by our research analyst, the U.S. fast food & quick service restaurant (QSR) market is projected to expand annually at the annual growth rate of around 10.3% over the forecast timespan (2024-2032)
• In terms of revenue, the U.S. fast food & quick service restaurant (QSR) market size was evaluated at nearly $405 billion in 2023 and is expected to reach $663 billion by 2032.
• The global U.S. fast food & quick service restaurant (QSR) market is anticipated to grow rapidly over the forecast timeline owing to the growing need for quick & efficient services along with offering of cost-effective foods by QSRs and fast food restaurants to people.
• In terms of cuisine, the software segment is slated to register the highest CAGR over the forecast period.
• Based on outlet category, the chained outlet segment is predicted to dominate the segmental growth in the upcoming years.
• Region-wise, the Northeast fast food & quick service restaurant (QSR) industry in the U.S. is projected to register the fastest CAGR during the projected timespan.

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U.S. Fast Food & Quick Service Restaurant (QSR) Market: Growth Factors

Escalating demand for proficient food services to boost the market trends in the country by 2032

Growing need for quick & efficient services, along with an offering of cost-effective foods by QSRs and fast food restaurants to people, can drive the growth of the U.S. fast food & quick service restaurant (QSR) market. An increase in the use of mobile applications and escalating online food ordering trends will drive the market trends in the U.S. Moreover, launching new cuisines and food flavors that adapt to regional tastes and consumer preferences will uplift the business expansion in the U.S. Moreover, QSR and fast food restaurants provide healthy food options to customers, such as low-calorie diets and salads, along with providing information on nutritional content on the menu card, thereby proliferating the size of the U.S. market.

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Restraints

Escalating food costs can impede the growth of the industry in the country over 2024-2032

Surging health issues such as obesity and diabetes caused by the intake of fast food can diminish the U.S. fast food & quick service restaurant (QSR) market demand. Furthermore, a rise in price wars between business rivals can wear down the industry profitability in the U.S. in the near future. Supply chain disruptions can also deteriorate the growth of the U.S. industry.

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Opportunities

A surge in the demand for fast food among millennial populace to boost the market growth in the U.S. by 2032

Automation in kitchens can increase the proficiency of operations of fast food restaurants and quick service restaurants, thereby creating new growth opportunities for the U.S. fast food & quick service restaurant (QSR) market. Furthermore, an increase in the number of visits by youth and the millennial population to QSRs and fast-food restaurants will shape the market space in the U.S.

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Challenges

A surge in the inflation rate leading to huge food costs can challenge the growth of the industry in the U.S. by 2032

An increase in the recession impacting customer purchasing capacity and a rise in the costs of labor and raw materials used for food preparation can put a strain on QSRs and fast food restaurants to increase the food costs, thereby reducing customer demand. Moreover, all these aforementioned factors can decimate the growth of the U.S. fast food & quick service restaurant (QSR) industry.

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Segmentation

The U.S. fast food & quick service restaurant (QSR) market is divided into cuisine, outlet, and region.                                          

In terms of cuisine, the U.S. fast food & quick service restaurant (QSR) market is bifurcated into pizza, bakeries, ice-cream, meat-based cuisines, and burger segments. Additionally, the meat-based cuisines segment, which gained approximately two-thirds of the market revenue share in 2023, is anticipated to register the fastest rate of growth yearly during the time interval from 2024 to 2032. The main factor spurring the segmental expansion can be due to the rise in the intake of pork and beef among the American population. Moreover, there was a huge purchase of chicken totaling about $37 billion in 2022.  

On the basis of outlet, the U.S. fast food & quick service restaurant (QSR) industry is sectored into independent outlets and chained outlets segments. In addition to this, the chained outlets segment, which accrued about 55% of the industry share in 2023, is set to lead the segmental expansion in the U.S. in the forecasting years. The segmental progression can be due to the ability of chained food outlets in providing high-quality foods and services to tourists as well as locals.

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Report Scope

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Regional Insights

Midwest region of the U.S. is slated to lead the market surge over 2024-2032

The Midwest region, which accrued half of the U.S. fast food & quick service restaurant (QSR) market share in 2023, is set to retain its dominating position in the U.S. market in the ensuing years. In addition, the regional market expansion in the forecast timeline can be attributed to rapidly changing customer preferences, technological breakthroughs, affordable cost of living, and technological breakthroughs. Apart from this, franchise expansion and the unexplored growth potential of the market in the region will contribute lucratively towards the business of the region.

The Northeast fast food & quick service restaurant (QSR) industry in the U.S. is predicted to record the largest rate of growth annually within the next few years. The growth of the industry in the Northeastern part of the U.S. can be due to a rise in urbanization and economic growth in the Northwestern part of the country. Moreover, the growing use of smartphones will drive the growth of the industry in the region over the assessment period.

U.S. Fast Food & Quick Service Restaurant (QSR) Market: Competitive Space

The U.S. fast food & quick service restaurant (QSR) market profiles key players such as

• Inspire Brands. Inc.
• Doctor's Associates. Inc.
• McDonald's Corporation
• Domino's Pizza Inc.
• Yum! Brands. Inc.

The U.S. fast food & quick service restaurant (QSR) market is segmented as follows:

By Cuisine

• Pizza
• Bakeries
• Ice-Cream
• Meat-Based Cuisines
• Burger

By Outlet

• Independent Outlets
• Chained Outlets

By Region

The U.S.

• Northeast
• Midwest
• South
• West