Research Methodology on Quick Service Restaurants Market
INTRODUCTION
The published report on Quick Service Restaurants Market by Market Research Future offers a detailed examination of the global Quick Service Restaurants (QSR) Market. The market has grown significantly in the past few decades in terms of sales and consumer base. QSR restaurants comprise a major percentage of the total foodservice market globally.
The primary objective of the research study is to provide an in-depth analysis of the global Quick Service Restaurants (QSR) Market. For this purpose, the report includes qualitative and quantitative insights about various related market segments. The research report provides market size estimation and growth forecast for various market segments based on product type, end-user, and region. Moreover, the report analyses fundamental market dynamics and recent trends, along with a comprehensive assessment of the competitive scenario.
RESEARCH METHODOLOGY
The research study on the global Quick Service Restaurants (QSR) Market is conducted by Market Research Future (MRFR) with a detailed overview of the existing market conditions and future prospects. The research study took a holistic approach to understand the market dynamics, incorporating primary and secondary research.
Primary Research
The primary research is conducted in tandem with expert opinions and industry surveys to begin the research process and gain the necessary insights for the market. The views of experts from the food service industry are considered, providing an in-depth market understanding of the potential opportunities growing in the Quick Service Restaurants (QSR) Market.
Team MRFR conducted interviews with key opinion leaders and food service industry experts to understand better the factors impacting the market growth. Moreover, the macro-level indicators related to the food service industry were tracked. Consumers’ preferences and behaviours towards the products are also analyzed to gain insights into the market competition.
Secondary Research
MRFR conducted secondary research comprising various sources and magazines to gain further insights and information regarding the global Quick Service Restaurants (QSR) Market. Industry journals, published data, company annual reports, and market reports were utilized for market analysis.
Moreover, economic indicators such as PESTEL analysis (Politics, Economics, Social, Technology, Environmental, and Legal) and Porter’s Five Force Model (Bargaining Power of Customers, Bargaining Power of Suppliers, Threat of New Entrants, Threat of Substitutes, and Level of Competition) are also analyzed and provides a better understanding of the fundamentals of the markets.
MARKET SEGMENTATION
The global Quick Service Restaurants (QSR) Market is segmented on the basis of product type, end-use, and region.
Table Service Restaurants, Fast Casual Restaurants, Fast Food Restaurants, Ethnic Quick Service Restaurants, and Others.
Non-commercial, Commercial, and Home Services.
Europe, Asia Pacific, North America, and the Rest of the World.
DATA COLLECTION
The data collection is conducted through two main sources, namely, primary and secondary sources. Data from these sources were collated and synthesized to achieve an optimally efficient and accurate market estimation.
Extensive primary research is conducted to identify and assess the market potential. The data gathered from primary research is further validated through secondary research. The primary research is conducted with an elaborate questionnaire to assess the attitudes and experiences of the respondents towards the market. The questionnaire targets market influencers and opinion leaders, comprising food service industry experts, market players, and potential customers.
For the purpose of market estimation, MRFR drew on a sample size of 164 respondents worldwide. The responses of the respondents were gathered through multiple interviews and surveys, which helped us glean the opinions of experts and manufacturers in the food service industry.
For market estimation, the secondary research includes newspaper articles, reports from statistical bodies, journals, White Papers, and proprietary databases. The secondary research also comprised magazine articles, business reports, and relevant industry periodicals.
The secondary research helped us to understand the market dynamics by providing us with accurate market size, regional-level analysis, revenue, growth rate, and market share.
DATA COLLECTION & VALIDATION
MRFR gathered the data through in-depth interviews conducted with market influencers and opinion leaders. Furthermore, 17 interviews were conducted with the key players in the food service industry. Subsequently, the responses were cross-checked to extrapolate quality data.
MRFR utilized data triangulation techniques to provide detailed information in terms of both volume and value. The data is collected and validated through both quantitative and qualitative approaches. Statistical techniques and predictive analytics are employed to test the accuracy of the estimated market size.
MARKET ESTIMATION & FORECASTING
The primary and secondary research data is consolidated and further analyzed using econometric analysis and artificial intelligence algorithms. Furthermore, advanced analytics frameworks such as the one used by MRFR to assess the market size include the Stochastic Frontiers method for market size, growth and share estimation.
The bottom-up approach is used for market estimation, wherein the demand for products in each region is taken as the base for assessment. Furthermore, the top-down approach is used to validate the market size with the total addressable market (TAM) and total available market (TAM) parameters.
The Market Research Future report included a seven-year forecast of the global Quick Service Restaurant (QSR) market between 2023 and 2033.
CONCLUSION
The published research report by Market Research Future provides an extensive analysis of the global Quick Service Restaurants (QSR) Market. The report focuses on market size estimation and growth forecast for various market segments based on product type, end-user, and region. Moreover, the report has provided an analysis of key market dynamics and recent trends. Primary and secondary research has been conducted to gain market insights. The data is gathered through interviews and surveys with market influencers and opinion leaders, comprising food service industry experts, market players, and potential customers. Statistical techniques and predictive analytics are also employed to assess the accuracy of the estimated market size. Finally, a seven-year global QSR market forecast is provided, ranging from 2023 to 2030.