Fast Food Market Research Report - Forecast to 2027

Fast Food Market Research Report: Information by Type (Burger/Sandwich, Pizza/Pasta, Chicken &Amp; Seafood, Asian/Latin American Food, Others), Service Type (Eat-In, Take Away, Drive Through, Home Delivery, Others) and Region - Forecast till 2027

ID: MRFR/F-B & N/0530-HCR | February 2021 | Region: Global | 115 pages

Fast Food Market

The fast-food market size is expected to reach USD 828.8 Billion by 2030, registering a CAGR of 6.8 % over the forecast period

Segmentation

By Type Burger/Sandwich Pizza/Pasta Chicken Seafood
By Service Type Eat-In Take Away Drive Through Home Delivery Others
By Region Asia Pacific North-America Europe Row

Key Players

  • Yum! Brands Inc. (U.S.)
  • McDonald’s Corporation (U.S.)
  • Wendy’s International Inc. (U.S.)
  • Domino’s Pizza Inc. (U.S.)
  • Doctor’s Association Inc. (U.S.)
  • and Jack in the Box Inc. (U.S.)

Drivers

  • The rise in urbanization and increase in population
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Fasr Food Market Overview


The fast-food market can anticipate growth at a splendid rate between 2020 and 2027, says Market Research Future (MRFR).


Mounting consumer spending prowess coupled with the rising prevalence of food delivery apps will be favorable for the fast-food industry. The COVID-19 pandemic is affecting the food industry in many ways, as the fear of infection and contamination from food continues to surge. Disruptions in the supply-chain combined with labor shortage has been unfavorable for the fast food sector.


Furthermore, soaring awareness among consumers about healthy foods following the pandemic has disrupted the market growth as well. On the bright side, the worldwide market can expect to witness strong demand in the near future, thanks to the escalating number of fast-food outlets and the heightened preference for online food deliveries. Additionally, the burgeoning working populace worldwide encourages business growth. Since the pandemic, numerous restaurants have been offering online delivery services as well as meal kits, which has fostered the demand for a variety of fast food products. Plus, the emerging snacking habits among people favors the global industry too.


Popularity of international cuisines in recent years has shot up immensely across the world. The fast-paced globalization opportunities along with the robust demand from emerging countries, including India and Brazil, are presenting numerous business opportunities to the major brands.


Covid 19 Analysis


COVID had a great impact on the industry. Countrywide lockdown and shutdown were imposed which reduced the dining in the restaurants by 80%. With social distancing, pickup options of food from the restaurants were imposed. These measures have decreased the persona, interactions.


The government took all the necessary initiatives for awarding the people.


Competitive Landscape


The fast-food industry also has numerous key players who increase the interest of the consumers by making such tasty foods and maintaining competitive prices. The key players of the market form partnerships with other fast food markets to have a dominant fast-food market share like MacDonald merge with Kraft for McCafé Coffee. These key players in these markets adopt various strategies and techniques. The major key players in the marketing sector are McDonald’s Corporation of United States, Burger King Worldwide Inc. of United States, Domino’s Pizza of United States, Yum Brands Inc of United States, Jack in the Box Inc of United States, Wendy’s International Inc of United States, Doctor’s Association Inc of The United States, and many others.


Market Dynamics


Drivers


The rise in the number of restaurants and hotels increases the Fast Food Market growth. The rise in prohibition and globalization helps in expanding market growth. The rise in urbanization and increase in population is increasing the cravings for all these cheaper and faster food options, thus increasing the demand for the Fast Food Market. The languid population expecting the food delivery to their home is helping in propelling up the fast-food market growth.


Opportunities


Fast Food is extremely tasty. These tasty, flavored food are increasing the opportunities for the global fast-food market. Apps that deal with fast foods from where you can order online provide more opportunities during the fast-food market forecast period. Healthy fast food attracts more customers thus fueling up the development of the fast-food market. Due to the increase in fast food market size, the rapid rise in the middle-class population has led to the transformation of eating habits which has helped in the expansion of the market. Online services have increased the scope of women’s employment.


Challenges


Slow and expensive meals are the most challenging factor of the fast-food market. The high sum required for the establishment of restaurants and food trucks is the most challenging factor for growth. High-calorie and unhealthy foods are decreasing the demand for the growth of the market. Expansion of fast-casual food harms the fast-food market growth and fast food market value.


Cumulative Growth


Enhancement of disposable income and demand for convenient and affordable food increased the Fast Food Market size. The fast-food available nowadays are extremely healthy and is of proper proportion. They also play a great role in losing body weight. The want of fast food is being stricken high. Online orders from various restaurants especially during COVID have increased fast-food product sales which increased the growth of the food industry.


Restraints


Fast Food Market causes various disorders like an increase in body fat and also causes other medical problems. Fast food is fast and informal food is losing its share of the fast-food market business. The presence of unsaturated fats in fast foods hampers market growth. Improper food safety regulations hamper growth. Improvement of animal safety regulation law hampers the market size. Overweight becomes the major restraint of the market.


Segment Overview


By Type


Segmentation is done based on product type, end-user, and region. Based on product type, the market is bifurcated into pizza, burgers, American foods, Asiatic cuisines, and many more. Based on end-users the market is split into foodservice restaurants, quick-service restaurants, caterers, and many more. Based on region, the Fast Food Market value is high in the region of North America (the United States, Canada, and Mexico), the European region (Germany, France, United Kingdom, Italy, Spain, and the other leftover regions of Europe), Asia Pacific region (Chinese, Indonesia, Australia, Thailand, and the rest regions), regions of LAMEA (Middle East, Latin America, and African region). The Fast Food Market shows its growth due to the different tastes of people and regions, which helps in changing the food menu of breakfast, lunch, and during delivery services.


By Technology


Due to technology, the internet, and mobile phones have helped in how to order online from the food apps. Technology has helped in better processing and packaging which have improved the safety of the food. Advanced machines have been used in the industry which has helped in the proper manufacturing of fresh food.


Regional Analysis


Globally Fast Food Market is prominent in Europe, the Asia Pacific region, and in North-America. North America covers the dominant part due to its high workforce in the American region. Asia Pacific region covers the next dominant share after NA and before Latin America. This region has become famous for fast food due to the increase in the adoption of western lifestyles and urbanization.


Recent Developments


March 2022


Smashburger, the burger restaurant, is introducing a new menu, which has been launched all across the US. The revamped fast-food menu will now feature two new items, namely Scorchin' Hot Chicken Tenders, and Adult Chicken Tenders. Inspired by the booming popularity of the Scorchin' Hot Crispy Chicken Sandwich, these chicken offerings will be sold in 3-piece as well as 5-piece portions and are made of all white, crispy meat chicken, with the customer’s choice of sauce –Ranch, Honey Mustard or BBQ.


March 2022


Jack in the Box is planning to expand its business with the construction of 98 more restaurants in the US. The new locations, in addition to the 2,208 Jack in the Box brick-and-mortars, showcase the maximum degree of growth level the brand has ever witnessed. Other than this, Jack in the Box will soon be acquiring Del Taco, which is a popular fast-food Tex-Mex chain, which should bring additional 600 locations in the mix.


Report Overview


The report provides an in-depth analysis of the global Fast Food Market and provides information about the current and future trends that evaluate the investment done by the key players. It highlights the market attractiveness and the accessibility trends which helps in gaining a stronger foothold in the market. It summarizes the drivers, challenges, opportunities, and factors hampering the growth and demand of the fast-food market value. It gives a qualitative and quantitative fast food market analysis of the current market, and its evaluation provides a showcase about the market competency. The report also illustrated the competitiveness of the key players in the market by fast food market analysis of certain characters namely threat of new entry of the key players, the substitute affecting the market, the power of bargaining of the buyers and also the suppliers. It provides significant information about the recent developments and the supply chain operating in the market.



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Frequently Asked Questions (FAQ) :

Based on type, the burger/sandwich segment and based on service type, the home delivery segment holds majority shares in the Global Fast Food Market.

The rising popularity, demand for convenient & instant food products, growing numbers of working population, and rising disposable income, are major tailwinds pushing the growth of the Global Fast Food Market.

North America holds the largest share in the Global Fast Food Market, followed by Europe and the Asia Pacific, respectively.

Burger King Worldwide, Inc. (U.S.), Yum! Brands Inc. (U.S.), McDonald’s Corporation (U.S.), Wendy’s International Inc. (U.S.), Domino’s Pizza Inc. (U.S.), Doctor’s Association Inc. (U.S.), and Jack in the Box Inc. (U.S.), are some of the top players operating in the Global Fast Food Market.

Strategic initiatives such as mergers & acquisitions, collaborations, expansion, and technology/ product launch are some of the growth strategies that players operating in the global fast food market adopt to gain a larger competitive advantage.