NEW YORK, Oct. 27, 2023 /PRNewswire/ — The fast food market is estimated to grow by USD 123.43 billion from 2022 to 2027, growing at a CAGR of 3.28%. The fast food market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer fast food market are American Dairy Queen Corp., Chipotle Mexican Grill Inc., Corporativo Bimbo SA de CV, Dominos Pizza Inc., Doughnut Time Ltd., Focus Brands LLC, Glory Hole Doughnuts, Inspire Brands Inc., JAB Holding Co. Sarl, Jack in the Box Inc., Jimmy Johns Franchisor SPV LLC, McDonald Corp., Papa Johns International Inc., Penn Station Inc., Pita Pit Ltd., Restaurant Brands International Inc., Starbucks Corp., The Subway Group, The Wendys Co., and YUM Brands Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying
Company Offering:
- American Dairy Queen Corp: The company offers fast foods such as burgers and sandwiches, chicken baskets, and snacks.
- Corporativo Bimbo SA de CV: The company offers fast foods such as bread and doughnuts.
- Dominos Pizza Inc: The company offers fast foods such as pizza, fries, and pasta.
- For details on companies and their offerings – Buy the report!
By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market.
- APAC accounts for 34% of the market growth during the forecast period. there is a significant change in the lifestyle of consumers with the increasing rate of employment and income levels. Therefore, the demand for convenient food options is increasing. In addition, rapid urbanization is also fuelling the dependency on fast food. China, Japan, and India are some of the key contributing countries in the fast food market in APAC. Hence, such factors drive the market growth in APAC during the forecast period.
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- Impactful driver- Increasing online presence of fast food companies
- Key Trend – Growing number of fast-food outlets
- Major Challenges – Health concerns pertaining to the excessive consumption of fast foods
Market Segmentation
- The market share by the non-vegetarian fast food segment is significant during the forecast period. There is a growing popularity for non-vegetarian fast food products among the working population. Non-vegetarian wraps, burgers, sandwiches, and pops are some of the popular on-the-go fast food products. Several market players are focusing on sauces and spices with these products. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Technavio Research experts have provided more insights on the market share of segments – View Sample Report
Related Reports:
The food service market size is estimated to grow at a CAGR of 28.35% between 2022 and 2027. The market size is forecast to increase by USD 13,612.51 million.
The dining out market size is estimated to grow at a CAGR of 53.21% between 2022 and 2027. The dining out market size is forecast to increase by USD 9,365.88 billion.
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Fast Food Market Scope |
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Report Coverage |
Details |
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Historic period |
2017-2021 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.28% |
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YoY growth 2022-2023 (%) |
2.6 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Key countries |
US, China, Japan, Germany, and UK |
TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Service Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact US:
Technavio Research
Jesse Maida
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Email: [email protected]
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SOURCE Technavio
