Fast-Food & Quick-Service Restaurants Industry Profile

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Excerpt from Fast-Food & Quick-Service Restaurants Industry Profile

Companies in this industry operate restaurants in which customers order and pay at a counter. Major companies include US-based Chipotle, McDonald's, Wendy's, and Yum Brands (KFC, Pizza Hut, Taco Bell), as well as Café de Coral (Hong Kong), Greggs (UK), Restaurant Brands International (Canada), and Seven & i Food Systems (Japan).

Consumer food service sales are expected to grow most rapidly in Latin America, the Middle East/Africa region, and the Asia/Pacific region.

The US fast-food and quick-service restaurant industry includes about 250,000 restaurant locations with combined annual revenue of about $250 billion. Full-service restaurants and specialty eateries such as coffee shops are covered in separate industry profiles.

COMPETITIVE LANDSCAPE

Demand is driven by consumer tastes and personal income. The profitability of individual companies depends on efficient operations and effective marketing. Large companies have advantages in purchasing, finance, and marketing. Small companies can compete effectively by offering superior food or service. The US industry is highly fragmented: the 50 largest companies account for about 20% of revenue.

PRODUCTS, OPERATIONS & TECHNOLOGY

Most fast-food and quick-service establishments specialize in a particular type of cuisine. Hamburger restaurants account for about 40% of sales among US limited-service establishments, while sandwich, pizza, chicken, and Mexican food restaurants each account for about 10%.

The industry includes national and regional chains, franchises, and independent operators. While the industry is fragmented, many independent operators are franchises of large national chains, such as Burger King, Wendy's, and Subway.

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