2021 Quick Service Restaurant Industry Report

Overview of the Report

The COVID-19 pandemic posed a significant threat to the operations and profitability of the QSR industry in 2020, both globally and in Nigeria.  QSR operators in Nigeria were also faced with additional threats from the frail macroeconomic environment. In 2020, Nigeria had two successive currency devaluations in March and July bringing the official rate to ₦380/US$ from ₦306/US$.  This was followed by restriction of access to foreign exchange from the official windows for food imports, thus, forcing operators to source foreign exchange from the parallel market which sold between ₦460 – ₦480/US$. We estimate the QSR industry’s revenue grew by a meagre 2% to about ₦281 billion in 2020.This report provides useful insights on various aspects of the QSR industry.

Key benefits of the report include:

  • Overview of the QSR Industry globally
  • Gaining a full understanding of the impact of the COVID-19 pandemic on the QSR industry
  • A detailed analysis of the Industry’s structure, size and market share of key operators
  • Comprehensive analysis of the QSR industry’s competitive environment including a SWOT
  • An indepth analysis of Franchising in the QSR industry in Nigeria
  • An overview of the regulatory landscape for the QSR industry in Nigeria
  • Insights on recent developments and Industry trends
  • The outlook and risk rating for the QSR industry in NIgeria