According to IMARC Group’s latest report, titled “Fast Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” Offers a comprehensive analysis of the industry, which comprises insights on fast food market.
The global fast food market size reached US$ 803 Billion in 2021. Fast food represents food items that are quick to prepare and are mainly prepared with the help of pre-cooked ingredients. These products are generally produced in advance in bulk quantities and then heated and packed for takeaway or dine-in. Fast food acts as a quicker and easier alternative to home-cooked meals. Some of the most commonly available options in the market include fries, sandwiches, burgers, noodles, pizza, etc. Fast food is served in numerous quick-service restaurants, hotels, street vendor shops, etc.
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Fast Food Market Trends
The expanding food and beverage (F&B) industry across countries and the widespread adoption of franchise business models by popular restaurant chains are primarily augmenting the fast food market. Furthermore, the emerging trend of cafe culture and the growing number of fast-food outlets, quick service restaurants (QSRs), food trucks, etc., are positively influencing the global market. Apart from this, the improving living standards of individuals are acting as significant growth-inducing factors. Moreover, the introduction of several innovative and exotic recipes by food chains that use natural, organic, and plant-based ingredients is bolstering the market growth. Besides this, the escalating demand for food ordering apps and the development of home delivery models are further catalyzing the global market. Additionally, they offer benefits, such as doorstep delivery, fast and easy ordering, discounted offers, etc., which is also stimulating the market growth. In line with this, the rising modernization of the food retail sector and the inflating need for touchscreen kiosks, kitchen-display screens, digital sales terminals, etc., are expected to fuel the fast food market in the coming years. Looking forward, IMARC Group expects the market to reach US$ 1,105 Billion by 2027, exhibiting a growth rate (CAGR) of 5.4% during 2022-2027.
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The report has segmented the market on the basis of product type, end user and geography.
Breakup by Product Type:
- Pizza/Pasta
- Burger/Sandwich
- Chicken
- Asian/Latin American Food
- Seafood
- Others
Breakup by End User:
- Food-Service Restaurants
- Quick Service Restaurants
- Caterings
- Others
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Auntie Anne’s (Focus Brands LLC), Chipotle Mexican Grill Inc., CKE Restaurants Holdings Inc., Domino’s Pizza Inc., Jack in the Box, Little Caesar Enterprises Inc., McDonald’s, Papa John’s International Inc., Restaurant Brands International Inc., Subway (Doctor’s Associates Inc.), The Wendy’s Company and Yum! Brands Inc.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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