Bangladesh Quick Service Restaurants Market Outlook by Service (Eat-in, Takeaway, Drive-through, Home Delivery), Cuisine (American, Chinese, Italian, Mexican, Japanese, Turkish & Lebanese) - Industry Revenue Estimation and Demand Forecast to 2030

Market Overview

The Bangladeshi quick-service restaurants market size stood at USD 1,712.4 million in 2023, and it is expected to reach USD 2,653.4 million by 2030, advancing at a compound annual growth rate of 7.1% during the forecast period. This can be attributed to the evolving lifestyle of the adult population, growing count of QSRs in the country, increasing demand for fast food among the urban population, and mounting working population in the urban and semi-urban areas of the nation.

Moreover, QSRs have gained popularity due to the surging preference for eating out, rising disposable income, and growing online food delivery sector. Both chain and standalone QSRs are expected to contribute equally to the market's development during the forecast period.

Home Delivery Services Accounted for Significant Revenue Contribution

The home delivery category, based on service, accounted for a significant revenue contribution, of 32%, in 2023. The major factors contributing to the category’s growth are the rising consumer preference for the home delivery of fast food, changing lifestyles and eating patterns of the young population, increasing number of double-income families, and the convenience, affordability, and availability of discounts associated with home deliveries.

Moreover, the category witnessed significant growth during the COVID-19 pandemic, owing to the several travel restrictions imposed by the government, growing need for food safety, and the strong inclination of the majority of the consumers toward the home delivery of food items. Additionally, the busy schedules of individuals, a modification in their food consumption patterns, and the rise in penetration of e-commerce channels are expected to boost the market growth in the coming years.

Growing Demand for Convenience Food Will Drive Market Growth

The demand for convenience foods is rising rapidly among consumers in Bangladesh, because of the parallel changes in the working and social lives and the growing habit of dining out. Customers today prefer to socialize over good food, away from home. Thus, due to the shortage of time, many modern nuclear families tend to prefer convenient, quick meals over traditional meals.

Moreover, an increasing number of families are hosting birthdays, anniversaries, and other social gatherings outside the home. The influences on the choice to dine out include insufficient time to cook at home, opportunities to socialize or conduct business, convenience or the need for a quick meal, and enjoyment and family outings or celebrations. Such changes in dining habits have led restaurants and other dining units to offer a great variety of food and beverages, providing customers with many more choices. This has encouraged people not to cook at their homes, which, in turn, drives the quick-service restaurants market in the country.

American Cuisine Will Witness Fastest Growth in Popularity

American cuisine will register the highest growth rate in the coming years. This can be attributed to the high demand for burgers, fries, and pizzas among the young population and busy lifestyle of adults, which creates a need for convenience foods. Moreover, other cuisines, such as Chinese, Italian, and Mexican, are also widely popular among Bangladeshi nationals.

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Growing Working Population and Increasing Consumer Spending

The rise in the working population is responsible for fueling the market growth in the country. In 2021, around 54% of the total population was employed. Working people have less time to cook at home; so, they prefer fast food, which pushes consumers toward QSRs. Additionally, the increasing purchasing power of consumers with their rising per capita income, especially in Dhaka, has increased the sale of prepared food from QSRs in the country.

Bangladesh's economy is experiencing an era of rapid growth, low inflation, and increasing household income. According to the World Bank, in 2021, the purchasing power parity of Bangladesh was 32.1 LCU per international dollar, as compared to 16.3 LCU in 2002, growing at an average annual rate of 3.63%. Moreover, now, people socialize with colleagues, friends, and neighbors more than before for business or social purposes. This means more meals at fast food restaurants, which drives the market.

Top QSRs in Bangladesh Are:

• Domino’s Pizza Inc.
• KFC
• Burger King
• Pizza Hut
• California Fried Chicken
• CP Five Star
• Herfy
• Crimson Cup
• A&W Restaurants
• Albaik

Market Size Breakdown by Segment

The report analyzes the impact of the major drivers and restraints on the Bangladesh QSR market, to offer accurate market estimations for 2017–2030.

Based on Service

• Eat-in
• Takeaway
• Drive-through
• Home Delivery

Based on Cuisine

• American
• Chinese
• Italian
• Mexican
• Japanese
• Turkish & Lebanese