Between 2017 and 2022, the number of QSR outlets in Thailand saw a steady increase of 1.97%. This growth is particularly evident in urban areas, where well-established fast-food chains like McDonald's, KFC, and Burger King hold strong presence. Alongside these international giants, regional QSR brands such as Swensen's, MK Restaurant, and Yum Yum also contribute significantly by offering a diverse range of Thai and other ethnic cuisines.

 

A key driving force behind the expansion of the QSR market is the influx of young consumers. With a penchant for dining out and a taste for fast food, individuals aged between 18 and 35 represent a vital demographic for QSR chains. Their preference for quick and convenient dining options has become a significant factor in propelling the growth of this sector.

 

In 2020, Thailand exhibited the highest consumption of fast food among Southeast Asian countries, with 40% of consumers indulging in fast food at least four times a week. This trend underscores the significant market potential for QSRs catering to the young and urban population.

 

 

Cloud kitchen outlets emerge as the fastest-growing segment within the QSR market, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 15.65% during the forecast period. This growth trajectory is supported by strategic expansions and substantial investments in the sector. Central Restaurant Group, one of Thailand's leading fast-food chains, plans to establish 100 cloud kitchens nationwide by 2024. Additionally, SET-listed developer Siamese Asset aims to invest USD 437.4 million between 2022 and 2026 to bolster its cloud kitchen business.

 

Meanwhile, cafes and bars outlets hold a significant share of 10.55% in the market as of 2022. The burgeoning coffee consumption trend contributes to the growth of this segment, with a 15% annual increase in coffee consumption observed nationwide. Thailand's thriving tourism sector also plays a pivotal role, driving demand for cafes and bars. The country's vibrant culinary scene attracts a considerable number of visitors, further stimulating growth in the foodservice industry.

 

Source: https://www.mordorintelligence.com/industry-reports/thailand-foodservice-market