In one of our previous articles about the most expensive restaurants in the world, we discussed that the global food service market is expected to grow significantly in the coming years and that the majority of the millennial population spends more on fast food and quick service restaurants.
Restaurants have become an important part of our world as they play a huge role in our communities, providing food, jobs, and social connection. Quick service and fast food restaurants have become more important than ever because of the growing demand for on-the-go dining. It is a large and growing global market.
The Fast Food and Quick Service Restaurant Market in 2023: Growth Drivers and Major Players
According to a report by Research and Markets, the global fast food and quick service restaurant market was valued at $243.9 billion in 2022. The market is expected to grow at a compound annual growth rate of 4.6% during 2022-2028, propelling the market to reach around $319.7 billion by the end of the forecast period. Latest market trends that align with contemporary consumer preferences worldwide are creating a positive outlook. Fast food and quick service restaurants offer an extensive menu selection inspired by local as well as international cuisines, including burgers, sandwiches, pizzas, pastas, salads, and desserts among other items. These restaurants offer an affordable and convenient solution for the busy daily life of consumers across the globe. Due to the busy schedules of the global workforce, fast food and quick service restaurants have witnessed a significant boost in popularity.
Modern fast-paced lifestyles have bolstered the consumption of on-the-go food items that are convenient to procure and consume. The adoption of Western culture combined with the growing out-of-home food consumption mainly attributed to the working-class population are key factors driving market growth.
Moreover, the growing focus on health and wellness has given rise to increased demand for food and menu items that address the health and wellness of the consumers. Many fast food and quick service restaurant brands are steering towards offering healthier fast food alternatives in order to seize the opportunities presented as the market continues to grow.
Some of the top companies operating in the fast food and quick service restaurant market include McDonald’s Corporation (NYSE:MCD), Chipotle Mexican Grill Inc. (NYSE:CMG), and Restaurant Brands International Inc. (NYSE:QSR).
On September 11, Restaurant Brands International Inc. announced that its four US restaurant brands – Burger King, Tim Hortons, Firehouse Subs, and Popeyes – have extended their partnership with The Coca-Cola Company (NYSE:KO) until 2033. The new partnership agreement will involve The Coca-Cola Company (NYSE:KO) investing in and supporting marketing initiatives for all four brands, with the goal of boosting profitability and driving additional traffic.
Fast food and quick service restaurant companies are also expanding their reach and revenue streams by opening new restaurants and granting franchises. On July 18, Reuters reported that Chipotle Mexican Grill Inc. is set to make its Middle East debut in 2024 through its first franchise deal with Kuwait-based Alshaya Group. This partnership agreement will see the American chain open its signature burrito and taco restaurants in Kuwait and Dubai. Chipotle Mexican Grill Inc., which has so far maintained ownership and operation of its restaurants, will now expand its reach through this franchise deal. The company currently operates over 3,000 locations in the US and over 50 international restaurants. According to the report, Chipotle Mexican Grill Inc. is exploring opportunities globally for other franchise deals.
With over 40,000 outlets in more than 100 countries, McDonald’s Corporation is the biggest fast-food restaurant chain in the world that also ranks among the best fast food stocks to invest in. The corporation runs on a heavily franchised business model, with more than 90% of McDonald’s restaurants worldwide owned and operated by independent local business owners. On October 30, McDonald’s Corporation reported strong earnings for the fiscal third quarter of 2023. The company reported earnings per share (EPS) of $3.19, surpassing EPS estimates by $0.2. The company reported a revenue of $6.69 billion and outperformed revenue estimates by $141.7 million.
Now that we have discussed some of the latest trends in the global fast food and quick service restaurant market, let’s take a look at the top 20 most valuable restaurant companies in the world.
A Chili’s Grill & Bar restaurant filled with happy customers enjoying a meal.
Methodology
In this article, we have listed the top 20 most valuable restaurant companies in the world. To find the most prominent restaurant companies, we sifted through various industry reports and consulted the Yahoo Finance and FINVIZ stock screeners. We then used Yahoo Finance to find each company’s market capitalization. For foreign companies and their market caps, we converted them to US dollars according to their respective exchange rates on November 7, 2023. Finally, we narrowed down our selection to rank the top 20 most valuable restaurant companies in the world based on their market capitalization, which are listed below in ascending order.
Top 20 Most Valuable Restaurant Companies in the World
20. Bloomin’ Brands Inc. (NASDAQ:BLMN)
Market Capitalization: $2.01 Billion
First up on our list of the top 20 most valuable restaurant companies in the world is Bloomin’ Brands Inc.. It is a restaurant holding company that owns several American casual dining restaurant chains, including Bonefish Grill, Carrabba’s Italian Grill, and Fleming’s Prime Steakhouse & Wine Bar. With over 1,450 restaurants worldwide, Bloomin’ Brands Inc. has a market capitalization of $2.01 billion as of November 7, 2023.
Some of the biggest restaurant companies in the world include include McDonald’s Corporation, Chipotle Mexican Grill Inc., and Restaurant Brands International Inc..
19. Arcos Dorados Holding Inc. (NYSE:ARCO)
Market Capitalization: $2.07 Billion
Arcos Dorados Holding Inc. (NYSE:ARCO) is the largest independent McDonald’s franchisee worldwide in terms of number of restaurants and systemwide sales. With the exclusive right to own, operate, and grant franchises of the McDonald’s restaurant chain in 20 countries within the Caribbean and Latin America, it has more than 2,300 restaurant locations. Arcos Dorados Holding Inc. has a market capitalization of $2.07 billion as of November 7, 2023.
18. Papa John’s International Inc. (NASDAQ:PZZA)
Market Capitalization: $2.23 Billion
Based in the US, Papa John’s International Inc. is an international pizza restaurant chain. As one of the world’s largest pizza delivery companies, it has a market capitalization of $2.23 billion as of November 7, 2023. With more than 5,000 locations and restaurants in 45 countries around the world, Papa John’s International Inc. is one of the largest fast food chains in the world.
17. Shake Shack Inc. (NYSE:SHAK)
Market Capitalization: $2.58 Billion
Based in New York, Shake Shack Inc. (NYSE:SHAK) is a fast casual restaurant chain that offers a classic American menu of premium burgers, hot dogs, fries, shakes, frozen custard, beer, and wine. While it started out as a hot dog cart inside Madison Square Park in 2001, it has more than 315 locations in the US as of 2023. As one of the most valuable restaurant companies in the world, Shake Shack Inc. has a market capitalization of $2.58 billion as of November 7, 2023.
16. Devyani International Limited (NSE:DEVYANI)
Market Capitalization: $2.75 Billion
Devyani International Limited (NSE:DEVYANI) is one of India’s largest operators of quick-service restaurants (QSRs). As India’s largest franchisee of Yum! Brands Inc. (NYSE:YUM), it operates KFC and Pizza Hut locations in the country. Additionally, Devyani International Limited is also the sole franchisee of Costa Coffee in India. As of November 7, 2023, it has a market capitalization of $2.75 billion.
15. CAVA Group Inc. (NYSE:CAVA)
Market Capitalization: $3.88 Billion
As the parent company of Zoës Kitchen and Cava Grill, CAVA Group Inc. (NYSE:CAVA) owns and operates a chain of Mediterranean restaurants. There are more than 290 Cava restaurants in the US. With a market cap of $3.88 billion as of November 7, 2023, CAVA Group Inc. ranks among the top 15 most valuable restaurant companies in the world.
14. The Wendy’s Company (NASDAQ:WEN)
Market Capitalization: $3.93 Billion
The Wendy’s Company is an American holding company for Wendy’s, one of the biggest fast food chains. There are more than 6,000 Wendy’s restaurants in the US. As of November 7, 2023, The Wendy’s Company has a market capitalization of $3.93 billion.
13. Jollibee Foods Corporation (OTC:JBFCF)
Market Capitalization: $4.24 Billion
Based in the Philippines, Jollibee Foods Corporation (OTC:JBFCF) is a multinational company that owns the fast food brand Jollibee. It also owns other fast food businesses, such as Red Ribbon, Chowking, Mang Inasal, and Greenwich Pizza. As one of the most valuable restaurant companies in the world, Jollibee Foods Corporation operates more than 6,000 locations worldwide. As of November 7, 2023, the corporation has a market capitalization of $4.24 billion.
12. McDonald’s Holdings Company Japan Ltd. (TYO:2702)
Market Capitalization: $5.25 Billion
McDonald’s Holdings Company Japan Ltd. (TYO:2702) has a license to operate McDonald’s fast-food restaurants in Japan. As of November 7, 2023, it has a market capitalization of $5.25 billion. As a leading company in Japan’s food service industry, McDonald’s Holdings Company Japan Ltd. (TYO:2702) has around 2,900 restaurants nationwide.
11. Wingstop Inc. (NASDAQ:WING)
Market Capitalization: $6.08 Billion
Wingstop Inc. (NASDAQ:WING) is an American international chain of restaurants that is famous for its chicken wings. There are more than 2,000 Wingstop restaurants around the world. As of November 7, 2023, Wingstop Inc. has a market capitalization of $6.08 billion.
10. Texas Roadhouse Inc. (NASDAQ:TXRH)
Market Capitalization: $6.93 Billion
Texas Roadhouse Inc. (NASDAQ:TXRH) is a full-service, casual dining restaurant chain that specializes in steaks in a Texas and Southwestern cuisine style. It operates more than 700 restaurants system-wide in 49 US states and ranks among the top 10 most valuable restaurant companies in the world. As of November 7, 2023, Texas Roadhouse Inc. has a market capitalization of $6.93 billion.
9. Americana Restaurants International PLC (TADAWUL:6015)
Market Capitalization: $7.92 Billion
Americana Restaurants International PLC (TADAWUL:6015) covers 12 markets throughout the Middle East, North Africa and Kazakhstan and ranks among the world’s leading operators of quick service and casual dining restaurants. It has a vast network that encompasses several brands, some of which are KFC, Pizza Hut, and Hardee’s. As of November 7, 2023, Americana Restaurants International PLC (TADAWUL:6015) has a market capitalization of $7.92 billion.
8. Haidilao International Holding Ltd. (HKG:6862)
Market Capitalization: $12.46 Billion
Based in China, Haidilao International Holding Ltd. (HKG:6862) is mainly involved in the restaurant operation business. The company owns and operates a chain of hot pot restaurants under the brand of Haidilao. With over 1,000 locations in China and a number of restaurants in other countries, Haidilao International Holding Ltd. (HKG:6862) is one of the most valuable restaurant companies in the world. As of November 7, 2023, it has a market capitalization of $12.46 billion.
7. Domino’s Pizza Inc. (NYSE:DPZ)
Market Capitalization: $12.85 Billion
Based in the US, Domino’s Pizza Inc. is a multinational pizza restaurant chain. With more than 15,000 restaurant locations in 90 international markets, it is the largest pizza chain in the world. As of November 7, 2023, Domino’s Pizza Inc. has a market capitalization of $12.85 billion.
6. Darden Restaurants Inc. (NYSE:DRI)
Market Capitalization: $17.96 Billion
Darden Restaurants Inc. (NYSE:DRI) is a US based multi-brand restaurant operator that owns and operates a portfolio of full-service restaurant brands. These brands include Bahama Breeze, Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, and The Capital Grille. Darden Restaurants Inc. has a market capitalization of $17.96 billion as of November 7, 2023.
For investors looking to increase their exposure to the restaurant industry, some stocks they can consider researching include McDonald’s Corporation, Chipotle Mexican Grill Inc., and Restaurant Brands International Inc..
5. Yum China Holdings Inc. (NYSE:YUMC)
Market Capitalization: $18.62 Billion
Based in Shanghai, China, Yum China Holdings Inc. (NYSE:YUMC) is a fast-food restaurant company. It operates a number of leading restaurant brands, including KFC, Pizza Hut, Taco Bell, Huang Ji Huang and Shaofaner. With a market capitalization of $18.62 billion as of November 7, 2023, Yum China Holdings Inc. ranks among the top 5 most valuable restaurant companies in the world.
4. Restaurant Brands International Inc. (NYSE:QSR)
Market Capitalization: $30.74 Billion
Restaurant Brands International Inc. is a Canadian-American multinational quick service restaurant holding company. It owns some of the world’s most popular quick service brands, which are Tim Hortons, Burger King, Popeyes, and Firehouse Subs. Restaurant Brands International Inc. has more than 30,000 restaurants in over 100 countries. As of November 7, 2023, it has a market capitalization of $30.74 billion.
3. Yum! Brands Inc. (NYSE:YUM)
Market Capitalization: $35.42 Billion
Yum! Brands Inc. is an American multinational fast food corporation that operates the quick service restaurant chains including KFC, Pizza Hut, and Taco Bell. It operates over 55,000 restaurants in more than 155 countries and territories. Yum! Brands Inc. has a market capitalization of $35.42 billion as of November 7, 2023, and ranks among the top 3 most valuable restaurant companies in the world.
2. Chipotle Mexican Grill Inc. (NYSE:CMG)
Market Capitalization: $56.78 Billion
Based in the US, Chipotle Mexican Grill Inc., also known simply as Chipotle, is a chain of fast casual restaurants that specializes in burritos, tacos, burrito bowls, and salads. Chipotle Mexican Grill Inc. operates restaurants in the US, United Kingdom, Canada, France, and Germany. As of November 7, 2023, it has a market capitalization of $56.78 billion.
1. McDonald’s Corporation (NYSE:MCD)
Market Capitalization: $195.97 Billion
With a market capitalization of $195.97 billion as of November 7, 2023, McDonald’s Corporation tops our list of top 20 most valuable restaurant companies in the world. With over 40,000 locations in more than 100 countries, McDonald’s Corporation is the world’s largest fast food chain. The American multinational fast food chain is best known for its hamburgers, cheeseburgers and french fries, although they also offer other items like chicken, fish, fruit, and salads.
You can also take a look at 20 Best Chocolate Brands in the World and 16 Biggest Lab Grown Meat Companies in 2023.
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