Fast Food Market:
Growth opportunities in the Fast Food Market look promising over the next six years. This is mainly due to the shift in the consumer’s choice towards affordable and convenient ready-to-eat food products and rising number of online platforms.
Fast Food Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The significant switch in the consumer’s inclination towards economical and user-friendly ready-to-eat food items accompanied by the ongoing growth in the online platforms for food delivery are crucial drivers stimulating the growth of the global fast-food market. Also, the technological expansion along with the fast home delivery option largely acquired by several restaurants and fast food outlets is strengthening the market share. The advanced online platforms are captivating consumers and markets primarily across Europe, America, Asia, and the Middle East. This is because customers can easily log in to the delivery applications and analyze reviews, prices, restaurants, and cuisines. Additionally, leading market players are offering doorstep delivery services to customers to save their traveling expenditure, further promotes the online delivery platform. Thus, the extensive surge in several online platforms will impel the market growth. Moreover, the augmenting hectic lifestyle of individuals is persuading people to choose ready-to-eat products to save money and time. However, as per the fast food market trends, the expanding health awareness owing to the rising incidences of digestion issues, heart diseases, high cholesterol is shifting the individuals towards healthy and nutritional food items, which is projected to hamper the market growth.
End-User Segment Drivers
On the basis of the end-user, the market is segmented into caterings, food-service, and quick-service restaurants. Amongst which, quick-service restaurants are expected to dominate the market during the forecast period. This is because of their capability to prepare food in bulk, which raises the delivery speed and helps to attend to multiple customers at a single time.
Regional Drivers
Based on regional coverage, North America is predicted to lead the market during the forecast period. This is primarily attributed to the prevalence of key players in the market and the accelerating working population. On the other hand, Asia-Pacific is projected to witness a higher CAGR during the forecast period. This is because of the varying lifestyle of individuals and the preference of the population toward western culture.
Fast Food Market’s leading Manufacturers:
- Yum! Brands, Inc.
- McDonald’s Corporation
- Jack in the Box Inc.
- DD IP Holder LLC.
- Cinnabon Franchisor SPV LLC.
- Restaurant Brands International Inc.
- Firehouse Restaurant Group, Inc.
- Hardee’s Restaurants LLC.
- Domino’s Pizza, Inc.
- Auntie Anne’s, Inc.
Fast Food Market Segmentation:
Segmentation by Product
- Pizza/Pasta
- Burger/Sandwich
- Chicken
- Asian/Latin American Food
- Seafood
- Others
Segmentation by End User
- Food-Service Restaurants
- Quick Service Restaurants
- Caterings
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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