NEW YORK, Aug. 9, 2022 /PRNewswire/ — The fast food market size is set to grow by USD 87.27 billion from 2020 to 2025, progressing at a CAGR of 2.45% as per the latest market research report by Technavio. 45% of the market’s growth will originate from APAC during the forecast period. US, China, Japan, Canada, and the UK are the key markets for the market in APAC. Market growth in this region will be faster than the growth of the market in regions. The significant increase in the adoption of restaurant services by enterprises across industries in countries will facilitate the market growth in APAC over the forecast period.
Fast Food Market: Segmentation Analysis
The market research report segments the fast food market by Product (Non-vegetarian fast food and Vegetarian fast food) and Geography (North America, APAC, Europe, South America, and MEA).
- Revenue Generating Segment –The Non-vegetarian fast food segment will be significant for revenue generation. To attract consumers, various fast food outlets focus on offering innovative items on their non-vegetarian menus. Fish, seafood, chicken, beef, and others are mostly demanded by consumers. Non-vegetarian fast food is appetizing, and the mode of preparation differs from restaurant to restaurant. The taste differences encourage consumers to try different non-vegetarian foods at various restaurants, which, in turn, influences the market’s growth. The demand for low-calorie and high-protein food products (like those that are made purely out of meat) is also driving the growth of the global non-vegetarian fast food market. Chicken is one of the highly demanded non-vegetarian fast food categories in the global non-vegetarian fast food market. The sales of fast food items made of chicken contribute to the market’s growth significantly.
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Fast Food Market: Major Driver
- The increasing online presence of fast food vendors is a key driving factor impacting the global fast-food market growth.
- The rising penetration of smartphones, coupled with the increasing accessibility to the Internet, is promoting the sale of fast food online. The personalized shopping assistance and suggestions on fast food products with respect to toppings, fillings, sauces, and others are among the major benefits of shopping online. E-commerce vendors allow customers to collect information and compare various fast food product varieties and types available on the site, based on the ingredients used. Vendors are motivated to offer fast food through online platforms, as it gives them easy access to the market and reduces their overhead costs by eliminating the need to rent or lease retail premises and hire workers. Therefore, the increasing online presence of fast food vendors will spur market growth during the forecast period.
Fast Food Market: Major Challenge
- Health concerns pertaining to the excessive consumption of fast foods are a key challenge negatively impacting the global fast-food market growth.
- There are various concerns regarding the health impacts of consuming fast food. The consumption of fast food may lead to various health issues such as obesity, diabetes, and others. The number of obese people in the world is increasing year over year because of changing food habits and lifestyles. The rising occurrence of health issues associated with food habits and lifestyles has made consumers more conscious about the food items that they consume. The rising awareness among consumers that fast food generally contains a high number of calories and fewer micronutrients persuades them to avoid consuming it. This is more likely to restrain the market growth, and hence it is acting as a major challenge for the global fast-food market.
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The competitive scenario provided in the Fast Food Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our Fast Food Market Forecast Report – Buy Now!
Related Reports:
- The foodservice market share is expected to increase to USD 10.13 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 28.15%.
- The foodservice market share in the US is expected to surge to USD 269.04 billion by 2026, and the market’s growth momentum will accelerate at a CAGR of 6.14
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Fast Food Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.45% |
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Market growth 2021-2025 |
USD 87.27 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
1.84 |
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Regional analysis |
North America, APAC, Europe, South America, and MEA |
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Performing market contribution |
APAC at 45% |
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Key consumer countries |
US, China, Japan, Canada, and the UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
American Dairy Queen Corp., Doctors Associates LLC, Dominos Pizza Inc., Inspire Brands Inc., McDonald Corp., Papa Johns International Inc., Restaurant Brands International Inc., Starbucks Coffee Company, The Wendys Co., and YUM Brands Inc. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio “Consumer Discretionary Market” Research Reports
Table of Content
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 01: Parent market
- Exhibit 02: Market characteristics
- 2.2 Value chain analysis
- Exhibit 03: Value chain analysis: Restaurant market
3 Market Sizing
- 3.1 Market Definition
- Exhibit 04: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 05: Market segments
- 3.3 Market size 2020
- 3.4 Market outlook: Forecast for 2020 – 2025
- Exhibit 06: Global – Market size and forecast 2020 – 2025 ($ billion)
- Exhibit 07: Global market: Year-over-year growth 2020 – 2025 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 08: Five forces analysis 2020 & 2025
- 4.2 Bargaining power of buyers
- Exhibit 09: Bargaining power of buyers
- 4.3 Bargaining power of suppliers
- Exhibit 10: Bargaining power of suppliers
- 4.4 Threat of new entrants
- Exhibit 11: Threat of new entrants
- 4.5 Threat of substitutes
- Exhibit 12: Threat of substitutes
- 4.6 Threat of rivalry
- Exhibit 13: Threat of rivalry
- 4.7 Market condition
- Exhibit 14: Market condition – Five forces 2020
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 15: Product – Market share 2020-2025 (%)
- 5.2 Comparison by Product
- Exhibit 16: Comparison by Product
- 5.3 Non-vegetarian fast food – Market size and forecast 2020-2025
- Exhibit 17: Non-vegetarian fast food – Market size and forecast 2020-2025 ($ billion)
- Exhibit 18: Non-vegetarian fast food – Year-over-year growth 2020-2025 (%)
- 5.4 Vegetarian fast food – Market size and forecast 2020-2025
- Exhibit 19: Vegetarian fast food – Market size and forecast 2020-2025 ($ billion)
- Exhibit 20: Vegetarian fast food – Year-over-year growth 2020-2025 (%)
- 5.5 Market opportunity by Product
- Exhibit 21: Market opportunity by Product
6 Customer Landscape
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 23: Market share by geography 2020-2025 (%)
- 7.2 Geographic comparison
- Exhibit 24: Geographic comparison
- 7.3 North America – Market size and forecast 2020-2025
- Exhibit 25: North America – Market size and forecast 2020-2025 ($ billion)
- Exhibit 26: North America – Year-over-year growth 2020-2025 (%)
- 7.4 APAC – Market size and forecast 2020-2025
- Exhibit 27: APAC – Market size and forecast 2020-2025 ($ billion)
- Exhibit 28: APAC – Year-over-year growth 2020-2025 (%)
- 7.5 Europe – Market size and forecast 2020-2025
- Exhibit 29: Europe – Market size and forecast 2020-2025 ($ billion)
- Exhibit 30: Europe – Year-over-year growth 2020-2025 (%)
- 7.6 South America – Market size and forecast 2020-2025
- Exhibit 31: South America – Market size and forecast 2020-2025 ($ billion)
- Exhibit 32: South America – Year-over-year growth 2020-2025 (%)
- 7.7 MEA – Market size and forecast 2020-2025
- Exhibit 33: MEA – Market size and forecast 2020-2025 ($ billion)
- Exhibit 34: MEA – Year-over-year growth 2020-2025 (%)
- 7.8 Key leading countries
- Exhibit 35: Key leading countries
- 7.9 Market opportunity by geography
- Exhibit 36: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- Exhibit 37: Impact of drivers and challenges
- 8.3 Market trends
9 Vendor Landscape
- 9.1 Vendor landscape
- Exhibit 38: Vendor landscape
- 9.2 Landscape disruption
- Exhibit 39: Landscape disruption
- Exhibit 40: Industry risks
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 41: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 42: Market positioning of vendors
- 10.3 American Dairy Queen Corp.
- Exhibit 43: American Dairy Queen Corp. – Overview
- Exhibit 44: American Dairy Queen Corp. – Product and service
- Exhibit 45: American Dairy Queen Corp. – Key offerings
- 10.4 Doctors Associates LLC
- Exhibit 46: Doctors Associates LLC – Overview
- Exhibit 47: Doctors Associates LLC – Product and service
- Exhibit 48: Doctors Associates LLC – Key offerings
- 10.5 Dominos Pizza Inc.
- Exhibit 49: Dominos Pizza Inc. – Overview
- Exhibit 50: Dominos Pizza Inc. – Business segments
- Exhibit 51: Dominos Pizza Inc. – Key offerings
- Exhibit 52: Dominos Pizza Inc. – Segment focus
- 10.6 Inspire Brands Inc.
- Exhibit 53: Inspire Brands Inc. – Overview
- Exhibit 54: Inspire Brands Inc. – Product and service
- Exhibit 55: Inspire Brands Inc. – Key offerings
- 10.7 McDonald Corp.
- 10.8 Papa Johns International Inc.
- Exhibit 60: Papa Johns International Inc. – Overview
- Exhibit 61: Papa Johns International Inc. – Business segments
- Exhibit 62: Papa Johns International Inc.- Key news
- Exhibit 63: Papa Johns International Inc. – Key offerings
- Exhibit 64: Papa Johns International Inc. – Segment focus
- 10.9 Restaurant Brands International Inc.
- Exhibit 65: Restaurant Brands International Inc. – Overview
- Exhibit 66: Restaurant Brands International Inc. – Business segments
- Exhibit 67: Restaurant Brands International Inc.- Key news
- Exhibit 68: Restaurant Brands International Inc. – Key offerings
- Exhibit 69: Restaurant Brands International Inc. – Segment focus
- 10.10 Starbucks Coffee Company
- Exhibit 70: Starbucks Coffee Company – Overview
- Exhibit 71: Starbucks Coffee Company – Business segments
- Exhibit 72: Starbucks Coffee Company- Key news
- Exhibit 73: Starbucks Coffee Company – Key offerings
- Exhibit 74: Starbucks Coffee Company – Segment focus
- 10.11 The Wendys Co.
- Exhibit 75: The Wendys Co. – Overview
- Exhibit 76: The Wendys Co. – Business segments
- Exhibit 77: The Wendys Co.- Key news
- Exhibit 78: The Wendys Co. – Key offerings
- Exhibit 79: The Wendys Co. – Segment focus
- 10.12 YUM Brands Inc.
- Exhibit 80: YUM Brands Inc. – Overview
- Exhibit 81: YUM Brands Inc. – Business segments
- Exhibit 82: YUM Brands Inc.- Key news
- Exhibit 83: YUM Brands Inc. – Key offerings
- Exhibit 84: YUM Brands Inc. – Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Currency conversion rates for US$
- Exhibit 85: Currency conversion rates for US$
- 11.3 Research methodology
- Exhibit 86: Research Methodology
- Exhibit 87: Validation techniques employed for market sizing
- Exhibit 88: Information sources
- 11.4 List of abbreviations
- Exhibit 89: List of abbreviations
About Technavio
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