Global Fast Food Market

Global Fast Food Market Size, Share, Growth Analysis, By Type(Burgers, Sandwiches), By Distribution Channel(Quick Service Restaurants (QSR), Street Vendors), By Service type(On premise and delivery & take away) - Industry Forecast 2024-2031

Report ID: SQMIG30C2131 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 94 | Figures: 76

Global Fast Food Market Dynamics

Fast Food Market Driver

  • The key aspect that drives the growth of the market is the changing consumer habits and increased spending on food products. The growth of households with two or more people in the majority of regions and increased family income are the main factors encouraging consumers to eat out more. Additionally, despite the continued popularity of well-known brands like Domino's, Pizza Hut, McDonald's, KFC, and Burger King, the rapid proliferation of various food service outlets is gaining popularity in both developed and developing regions around the world. International fast food companies are focusing on foreign markets as fast food becomes increasingly popular among millennials. The expansion of the millennial population, rising family incomes, increasing tourism, and changing consumer purchasing patterns are all contributing to the global market growth.

Fast Food Market Restraint

  • People's eating patterns have undergone a substantial change as a result of the COVID-19 pandemic epidemic. As a result of the widespread desire for healthy fast food alternatives, the market's potential growth is projected to be constrained in the upcoming years. Its increased consumption of among millennials leads to high fat intake, which may result in obesity and consequently obesity-related chronic diseases. Obesity is associated with a number of chronic diseases, illnesses, and early deaths, including cancer, diabetes, gallstone disease, fatty liver, heart disease, arthritis, and joint problems. The habit of eating fast food has been identified as a possible risk factor for childhood obesity. Due to the numerous health issues associated with eating fast food, the increased awareness among the people regarding their eating habits is likely to restrain the global market growth.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Fast Food Market size was valued at USD 527 billion in 2019 and is poised to grow from USD 548.08 billion in 2023 to USD 750.08 billion by 2031, growing at a CAGR of 4% in the forecast period (2024-2031).

The Global Fast Food market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability. The growth of their commercial operations in developing regions is a key priority for numerous well-known businesses active in the global market. Companies in the global fast food market are also developing strategies for new product development and product portfolio expansion through investments, mergers, and acquisitions. 'McDonald's', 'Domino's', 'Pizza Hut', 'Subway', 'KFC', 'Burger King', 'Taco Bell', 'Wendy's', 'Dunkin' Donuts', 'Starbucks', 'Chipotle Mexican Grill', 'Dairy Queen', 'Tim Hortons', 'Popeyes Louisiana Kitchen', 'Hardee's', 'Baskin-Robbins', 'Papa John's', 'Jollibee Foods Corporation', 'Church's Chicken', 'Nathan's Famous.'

The key aspect that drives the growth of the market is the changing consumer habits and increased spending on food products. The growth of households with two or more people in the majority of regions and increased family income are the main factors encouraging consumers to eat out more. Additionally, despite the continued popularity of well-known brands like Domino's, Pizza Hut, McDonald's, KFC, and Burger King, the rapid proliferation of various food service outlets is gaining popularity in both developed and developing regions around the world. International fast food companies are focusing on foreign markets as fast food becomes increasingly popular among millennials. The expansion of the millennial population, rising family incomes, increasing tourism, and changing consumer purchasing patterns are all contributing to the global market growth.

Increasing trends of online ordering of food are likely to aid the market growth in the upcoming years. During the global COVID-19 pandemic in 2020, the foodservice industry benefited from online food delivery since it gave customers access to meals while also enabling food providers to carry on business. E-commerce adoption is rising globally as a result of a number of variables, including economic expansion, rising disposable income, rising food consumption, and rising internet access. The rise of online food delivery in many developing nations, particularly during the COVID era, has completely changed how consumers engage with food suppliers. Even before the COVID-19 outbreak, arranging meal deliveries was a standard habit in developed regions. However, the trend accelerated in developing nations like India, Qatar, Saudi Arabia, the United Arab Emirates, Singapore, Turkey, Argentina, Brazil, and Chile after COVID-19.

The North American region held the largest Global Fast Food Market share. The regional growth of the sector will be aided by the fast food chain's rapid expansion in North America. Due to their strong reliance on convenience and growing preference for meals in restaurants, Europe is also expected to hold a significant market share. The introduction of raw dairy, organic veggies, hormone-free meat, and natural components into fast-food menus as well as other healthful changes helped this sector to grow significantly. These major changes have proven to be important for the growth of the market, fueled by changes in consumer preferences for fast food and the transparency of fast-food chain operations.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Global Fast Food Market

Report ID: SQMIG30C2102 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 68 | Figures: 75

Global Sodium Reduction Ingredients Market
Buy Now GET FREE SAMPLE
Global Fast Food Market

Report ID: UCMIG30C2015 | Region: Global | Published Date: February, 2024 | Pages: 165 | Tables: Figures:

Barley Flakes Market
Buy Now GET FREE SAMPLE
Global Fast Food Market

Report ID: SQMIG30C2098 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 35 | Figures: 74

Global Botanicals Market
Buy Now GET FREE SAMPLE
Global Fast Food Market

Report ID: SQMIG30C2127 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 92 | Figures: 76

Global Shrimp Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Fast Food Market

Product ID: SQMIG30C2131

$5,300
BUY NOW GET FREE SAMPLE