The global breakfast restaurant market size was valued at USD 29.43 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.8% from 2021 to 2028. Growing health concerns upholds breakfast as an important meal of the day. This is leading to the huge adoption of breakfast by consumers. Restaurants have observed that including a wide-ranging breakfast menu with its all-day availability acts as a growth-driving factor leading to increased revenues. Moreover, the on-the-go menu and fast food items offered by such restaurants fuel the market growth. As per research studies, it is estimated that avoiding breakfast can lead to serious health consequences. For example, as per the International Journal of Gastronomy and Food Science Survey, it was found that Coronary Heart Disease(CHD) was increased by 27% among the North American population who regularly failed to have breakfast.
Thus, rising awareness among consumers is also likely to support market growth over the forecast period. Along with healthy menu requirements, the demand for non-conventional food products is increasing over the past few years. Increasing demand for such items on the menu is creating a niche market for breakfast restaurants. In addition, several breakfast restaurants offer comfortable seating arrangements and breakfast menu items even at late hours for customer convenience, which is likely to drive the market growth.
Rapid globalization is also responsible for the growth of this market. Globalization has led to the migration of the workforce with different cultures creating a demand for regional food products. The low price of breakfast foods as compared to other meals is another factor fueling the popularity of breakfast restaurants.
Due to the Covid-19 pandemic worldwide, the supply chain of various sectors has been interrupted. Thus, disturbed supply chain and distribution networks are some major challenges that the companies are focusing on. In addition, due to lockdown in major cities across the globe, a sales drop was observed in this market. The pandemic has adversely affected the market with unemployment and restaurants being forced to shut down.
The Quick Service Restaurants (QSRs), also known as fast-food restaurants, category segment accounted for the highest revenue share of more than 60% in 2020. The segment will grow further at a steady CAGR from 2021 to 2028 owing to its increasing number of QSRs across the globe. Quick service restaurants mainly focus on limited table service and fast food services, apart from takeaway options. These types of food outlets are mostly part of restaurant chains like KFC, McDonald's, and others.
The fast-casual restaurant category segment will register the fastest CAGR over the forecast period due to the rising number of such food outlets. Creative restaurant concepts and evolving consumer tastes are also the major growth-driving factors for this segment. However, the increasing cost of food products in the fast casual restaurants as compared to QSRs may hinder the segment growth over the forecast period.
North America accounted for the largest revenue share of more than 57% in 2020 due to a high number of these restaurants in the U.S. and Canada. The regional market is also driven by increased consumer spending and traveling. In addition, the increasing purchasing power of the consumers in this region supports the market growth. As North America provides various opportunities for the consumer goods sector, the market is projected to show significant growth.
Asia Pacific is expected to be the fastest-growing regional market registering a CAGR of more than 7% from 2021 to 2028.This growth can be credited to the increasing demand for breakfast restaurants in the countries like India and China. An increase in disposable income levels in these countries is also driving the regional market growth. The region also has wide penetration of local as well as foreign breakfast restaurant chains, such as Burger King, McDonald’s, and KFC.
Most of the market participants focus on innovating new ways to meet the increasing consumer demand. Various market players are also focusing on business expansion. Over the past few years, the buyers’ consumption patterns have directly impacted the breakfast restaurant industry. As a result, some of the industry participants are increasing their spending on the incorporation of dinner as well as lunch menu items, which is projected to open new growth opportunities. Major companies operating in the global breakfast restaurant market are as follows:
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 31.23 billion |
|
Revenue forecast in 2028 |
USD 49.82 billion |
|
Growth rate |
CAGR of 6.8% from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2017 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Category and region |
|
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
|
Country scope |
U.S.; Brazil; Germany; U.K.; France; China; Japan; South Africa |
|
Key companies profiled |
Chipotle Mexican Grill, Inc.; Panera Bread Company; McDonald's Corp.; Yum! Brands, Inc.; Burger King; Kimpton La Peer Hotel; Shake Shack, Inc.; Boston Market Corp.; Dine Brands Global, Inc.; Carrows; Denny’s |
|
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global breakfast restaurant market on the basis of category and region:
Sign up today.
Call us at +1-408-610-2300 to speak with a
representative.
All Reports
