December 21, 2021
According to the research report titled ‘Global Airport Quick-service Restaurants (QSR) Market Size study, by type (Fast Foods and Meals, Beverages, and Bakery and Confectionery) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global airport quick-service restaurants (QSR) market is anticipated to record a year-over-year growth rate of 4.5% during the forecast period 2021-2027.
Consumer preference for buying & consuming fast food at due to expensive on-board meal plans is the primary growth driver of global airport quick-service restaurants (QSR) market. Surging aircraft passengers, and constant airport infrastructure development are further propelling the industry trends.
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According to International Air Transport Association (IATA), global airport infrastructure expansion is estimated to cost between USD 1.2 to USD 1.5 trillion by the year 2030.
However, strict laws mandated by airport authority, logistical concerns, and limited menu may stifle the industry growth over the analysis timeframe 2021-2027.
On the basis of type, worldwide quick-service restaurants (QSR) marketplace is divided into fast foods & meals, bakery & confectionery, and beverages. Information pertaining to industry share held by each segment, alongside their growth rate and revenue contribution over forecast period is entailed in the report.
Considering the regional landscape, new opportunities and trends across North America, Asia Pacific, Europe, and Latin America are explored in the document. Among these, North America holds a significant market share at present, owing to rising consumption of fast food as well as ready-to-eat foods by the consumers.
On the other hand, Asia Pacific market is predicted to record strong CAGR over the forecast period 2021-2027. The expansion is attributed to upsurge in passenger traffic, inflowing investment in modernization & upgradation of existing airports, as well as construction of new airports in the region.
The key players in global airport quick-service restaurants (QSR) market are Pizza Hut, Burger King, Subway, McDonald's, Starbucks Corporation, KFC, Wendy's, Jumbo King, Dunkin' Donuts LLC, and Taco Bell. The research literature also includes potential prospects for stakeholders to invest in micro markets, as well as a full analysis of the competitive environment and product offerings of major players.