Increasing number of fast food restaurant & Tech-savvy ordering systems dominating fast food industry Fast food is a term used for easily prepared, processed food served in snack bars and restaurants as a quick meal or to be taken away. It is a quick and low-price meal alternative for home-cooked food. Global fast food market is expected to garner $743,859 Million by 2022, registering a CAGR of 4.84% during the forecast period 2016-2022.
The global fast food market is poised to witness significant growth during the forecast period, owing to increase in number of fast food restaurants and working women, rise in tech-savvy ordering options demand for international cuisines, and change in consumer taste and preference.
Change in consumer taste and preference is a key impacting factor in the fast food market. However, factors such as high setup cost of restaurants and rise in health concerns among fast food consumers hamper the market growth.
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Based on the type of fast food, the market is segmented into burgers/sandwiches, pizza/pasta, chicken, seafood, Asian/Latin American food, and others. The Asian/Latin American food segment generated highest revenue 2015, however, the burgers/sandwiches segment is expected to grow at the highest CAGR of 6.02% to reach during the forecast period.
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The North American region is expected to grow at a CAGR of 3.66% during forecast period. However, LAMEA is an emerging market for fast food and is estimated to grow at a CAGR of 7.61%.
Key Benefits of the Fast Food Market Report:
It provides an extensive analysis of the current and future trends, during the period, 2014‐ 2022 It includes significant data which assist in identifying the prevailing opportunities It provides competitive intelligence and highlights scenario of the leading manufacturers and distributors across the geographies
It offers an in-depth analysis by following key product positioning and monitoring the top competitors within the market framework It includes profiles and strategies of the key market players to portray the competitive outlook
Fast Food Market Key Segments:
By Product Type:
Pizza/Pasta Burger/Sandwich Chicken Asian/Latin American Food Seafood Others (Beef and Pork Meat)
By Geography:
North America Europe Asia-Pacific LAMEA Latin America Middle East Africa
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The demand for new cuisines has increased worldwide owing to the advent of Internet, television shows, magazines, and newspaper that provide insights about various cultures. For instance, the taco being a Canadian dish, is a successful business in the U.S. Similarly, other cuisines such as Thai food and Chinese food are a great success worldwide.
The prominent players profiled in this report include McDonalds, Hardees, Pizza Hut, Dominos Pizza, Burger King, KFC, Subway, Dunkin Donuts, Firehouse Subs, and Auntie Annes.
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