Global Fast Food Market will reach USD 690.80 Billion in 2022: Zion Market Research

According to the report, global fast food market was valued at over USD 539.63 billion in 2016, is expected to reach above USD 690.80 billion in 2022 and is anticipated to grow at a CAGR of slightly above 4.20% between 2017 and 2022.

Sarasota, FL, March 01, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fast Food Market by Type (Chicken, Burger/Sandwich, Asian/Latin American Food, Pizza/Pasta, Sea-Food, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global fast food market was valued at over USD 539.63 billion in 2016, is expected to reach above USD 690.80 billion in 2022 and is anticipated to grow at a CAGR of slightly above 4.20% between 2017 and 2022. 

Fast food is considered as the empty calorie food. An empty calorie food can be defined as food with the bulk of calories and fewer or no micronutrients. Globalization and urbanization had heavily impacted on the intake routine of consumers and fascinated them towards fast food. Fast food restaurants can be classified on the basis of their infrastructure, namely quick service restaurants (QSR) and roadside vendors. The QSRs are grasping the fast food market owing to their authenticity and hygiene. Strict government regulations and pollution may hamper the functioning of the roadside vendors.

Browse through 10 Market Tables and 13 Figures spread through 110 Pages and in-depth TOC on “Global Fast Food Market: By Type, Size, Share, Trends, Statistics, Growth, Analysis, Segment, and Forecast 2016 – 2022”.

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The fast food market is mainly driven by the rise in the pace of life of the urban population and their requirement for inexpensive and faster options for their meals. It is also driven by the languid population who expect their meals delivered at their doorstep. Also, appetizing fast food with desired flavors may positively lift up the fast food market in the forecast period. However, rising health awareness among the consumers may impede the growth of the fast food industry in the foreseeable future. Even so, the rise in trend of online ordering and app-based companies offering delivery services could open up more opportunities in the future. Moreover, easily accessible healthy fast food may provide huge options to the health conscious populace bolstering the fast food market growth in the upcoming years. 

Based on the type, the fast food market can be segmented as chicken, burger/sandwich, Asian/Latin American food, pizza/pasta, seafood, and others. Burger/sandwich held the largest slice of the pie owing to the wide range of product line such as hamburgers, cheeseburgers, and giant burgers among others. Pizza/ pasta are likely to achieve the huge market in coming years due to widespread outlets of pizza and pasta to cope up with the increasing requirement. Chicken emerged as potent segment due to potential demand from the emerging economies. 

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North America corned the fast food market in 2015 and is expected to maintain its pace in the coming years. This is mainly due to growing drift towards pocket food.  Moreover, reluctance for cooking on daily basis has lead to high demand for fast food which is likely to bloom the fast food market in the coming years.

Europe is the second largest market for fast food. Hectic lifestyle inflicts people to prefer quickly accessible food such as pocket sandwiches, burgers among others. In Europe, fast food chains bid local twists on American classics which facilitate the fast food market growth in this region. On the flip side, there has been apparent swing from fast food towards the healthy and natural food may impact on the growth of the fast food market in the coming years. Yet, some of the restaurants in Europe had included healthy fast foods such as salad with dressings and baked fries among others which may provide the fast food market with the plentiful prospectus in the near future.

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Asia Pacific is expected to chunk the major portion of the fast food market pie in the forecast period. Growing number of fast food vendors due to surging demand for western and local fast food stimulates the growth of the market in this region. Asian Food is gaining huge flame across the globe owing to intense flavors and bold taste. Rising dual and discretional income predominantly in India and China is likely to fuel the growth of fast food market. Increasing inclination towards western fast food brands such as McDonald's, KFC, and Dominos, especially in India, is anticipated to splendid the growth of fast food market in this region. The young population is food savvy and adventurous for tasting new products, therefore, the demand for diverse fast food is rising. This aspect is likely to impose vast intensification in the fast food market.

Latin America possesses huge potential for chained development in the forecast period. Latin American food has foothold the market globally owing to diverse flavors and flavorsome which is predicted to thrive the market growth over the years to come. Increasing preference for packed food and ready to eat food has fostered the demand for fast food in Latin America. Blooming Middle East and Africa evident growth in appetite for fast food market owing to improving living standards along with leisurely growing disposable income in this region. 

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The existence of various manufacturers including the street food producers in fast food market has generated intense competition among the leading players to primarily focus on research and product development to sustain in this market. McDonald’s Corporation, Yum! Brands Inc., Wendy’s International Inc, Burger King Worldwide Inc, Doctor’s Associates Inc, Jack in the Box Inc, Domino’s Pizza Inc, Dunkin Brands, Dairy Queen, and Papa John’s Pizza.

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This report segments the global fast food market as follows:

Global Fast Food Market: Type Analysis

  • Chicken
  • Burger/Sandwich
  • Asian/Latin American Food
  • Pizza/Pasta
  • Sea-Food
  • Others

Global Fast Food Market: Regional Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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