SAN FRANCISCO -- Global Fast Food Market is expected to grow at a significant CAGR (Compound Annual Growth Rate) in the upcoming years as the scope and its applications are rising enormously across the globe. Fast food is termed as a food that is easily served and prepared and is a cost effective alternative to traditional food. It consists of high calories, saturated fat, salt, and sugar. These foods are prepared in a way that they look delicious so one can ask for more.
Also read, Texas Roadhouse, Chick-fil-A Lead Among Full-Service & Fast Food Restaurants, New ACSI Data Finds.
Rising working people populace special women, expansion of fast food chains, growing urbanization, and rising disposable income are documented as major factors of Fast Food Market that are estimated to enhance the growth in the years to come. However, growing obese populace, low in nutrition, and rising importance of healthy health among customers are the factors that may restrain overall market in the coming years. Fast Food Market is segmented based on type, form, product type, application, and region.
Types such as hot dog, pizza, burger, sandwich, French fries, taco, chicken nuggets, falafel, popcorn, and others classify Fast Food Market. Forms such non-vegetarian fast food and vegetarian fast food classify Fast Food Market. Product types such as western-style fast food, Chinese-style fast food, and others classify Fast Food Market. Applications into dine-in, takeout, and others classify Fast Food Market.
Fast Food Market is segmented geographically into Americas (North America, South America, Latin America), Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, North America accounted for the substantial market share and is estimated to lead the overall market in the coming years. This may be because of high demand for fast food from consumers as changing lifestyle, growth in working women's, and rapid expansion of fast food centers in the region.
The United States is a major consumer of Fast Food in the region. Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost period. The aspects that may be ascribed to the growth comprise growing corporate culture and hectic lifestyle.
The developing countries like India and China are the major consumers of Fast Food in this region. The key players of Fast Food Market are Dunkin' Donuts, McDonald's, Taco Bell, KFC, Wendy's, Subway, Papa John's, Pizza Hut, Dairy Queen, Starbucks, Dunkin' Donuts, Burger King, and Domino's Pizza. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
SOURCE Radiant Insights, Inc.
News & Updates
Stay informed with the latest news around foodservice, agriculture and other related food news.