Global Fast Food Market Size & Share to Surpass USD 675.19 Bn by 2028: Vantage Market Research

| Source: Vantage Market Research Vantage Market Research

WASHINGTON, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research has recently published the widespread market research on Fast Food Market includes historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. Fast Food Market research report gives critical information about the market and business landscape. It suggests how the company is perceived by the target customers and clients that are desired to reach. The report helps understand how to connect with customers, how to stack up against the competition, and how to plan next steps. It plays an important role in the process of developing products and services, bringing them to the marketplace, and marketing them to consumers. For many businesses, Fast Food Market report acts as a key component in developing marketing strategy by providing a fact-based foundation for estimating sales and profitability.

According to the research report published by Vantage Market Research, the Global Fast Food Market Size Is Expected to Reach USD 675.19 Billion By 2028, at a CAGR of 4.2% Between 2022 and 2028.

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List of Prominent Players in the Fast Food Market:

  • Auntie Anne’s Inc.
  • McDonald’s
  • Domino’s Pizza
  • Wendy’s International
  • Doctor’s Associates Inc.

What is Fast Food? How Big is Fast Food Market Size?  

Market Dynamics:

Drivers:

Increasing Adoption of Online Food Delivery Applications

There is always a discount offered when you buy something from an online store. A number of manufacturers and stores have created sites where customers can easily buy their product without having to leave the comfort of their homes. Another factor that makes these sales interesting for consumers is that they are not limited to just one type or brand, but they can find foods and drinks from different companies at discount price. For instance, if there is a website selling discount food products such as pizza, buggers among others, any consumer can read about all available products and choose the most suitable ones for them and place an order immediately through the site's interface. Instead of buying these discount products in retail stores, consumers can find them online at significantly lower prices.

Thus, increasing the adoption of online food delivery applications, in turn driving the market growth over the forecast period.

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Key Insights and Findings from the In-depth Report:

  • On the basis of Product, the market is segmented into Pizza/Pasta, Burgers/sandwiches, Chicken, Asian/Latin American, Seafood, and Others. Due to the popularity of burgers and sandwiches among all age groups, the burger and sandwich restaurant segment dominates the market. Burgers and sandwiches are also less expensive than pizza and pasta. This segment is likely to dominate the Fast Food Market share throughout the forecast period due to the availability of these two popular Fast Food chains in numerous nations. The Asian and Latin American food segments account for the world's second-largest market share. Consumers' disposable income is increasing, so they are spending more on food. During the forecast period, this factor is expected to drive the growth of the Asian and Latin American food segments.
  • On the basis of End Users, the market is segmented into Quick Service Restaurants, Fast Casual Restaurants and Others. In 2021, the quick service restaurants segment leads the Fast Food Market and is expected to dominate the market for the rest of the forecast period. Quick service restaurants produce processed food in bulk to meet rising customer demand. Furthermore, increased internet penetration and easy access to smartphones have resulted in an increase in online purchases. As a result, several food chains are shifting towards online portals to improve online food ordering for these Fast Food chains, thereby increasing the growth of the quick-service restaurant market.
  • Asia Pacific is the fastest regional segment in terms of growth. During the forecast period, the Asia-Pacific region is expected to experience rapid growth in the Fast Food Market. This is primarily due to increased urbanization, increased disposable income, and increased demand for the western lifestyle. Because they prefer Fast Food to traditional restaurant food, India and China are considered attractive markets for fast food. Favorable demographics, increased disposable income and purchasing power, increased urbanization, and rapid adoption of Western lifestyles have significantly improved the developing world market's future.

Scope of the Report:

Report AttributesDetails
Market Size in 2021USD 527.5 Billion
Revenue Forecast by 2028   USD 675.19 Billion
CAGR4.2% from 2022 to 2028
Base Year2021 
Forecast Year2022 to 2028
Key Players
  • Auntie Anne’s Inc.
  • McDonald’s
  • Domino’s Pizza
  • Wendy’s International
  • Doctor’s Associates Inc.

Segmentation of the Global Fast Food Market:

  • Product
    • Pizza/Pasta
    • Burgers/Sandwich
    • Chicken
    • Asian/Latin American
    • Seafood
    • Others
  • End User
    • Quick Service Restaurants
    • Fast Casual Restaurants
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Read Full Research Report @ https://www.vantagemarketresearch.com/industry-report/fast-food-market-1500

Changing Busy Lifestyles of Population and Rising Household Income Levels

Since past few decades, the population across the globe is increasing hastily and keeps on increasing with each passing day. Thus, the demand for global food supplies is increasing. Also, changing busy lifestyles of people is increasing the demand for ready to eat and fast foods. Pizza, burgers and sandwiches are one of the top demanding fast food. This is owing to increasing demand for these products from people. Especially from teens, and kids. Additionally, wide availability of Pizza, burgers and sandwiches options is increasing the demand for such products among young generation. Ultimately, driving the market growth over the forecast period.

The Report on Fast Food Market Highlights:

  • Assessment of the market
  • Premium Insights
  • Competitive Landscape
  • COVID Impact Analysis
  • Historic Data, Estimates and Forecast
  • Company Profiles
  • Global and Regional Dynamics

Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Fast Food Market Forecast Report (2022-2028).

Some of The Key Questions from Our Customers Are:

  • Which are the top companies in the market?
  • How will the market change in the next years?
  • What are the drivers and restraints of the market?
  • Which regional market will show the highest growth?
  • What will be the CAGR and size of the market throughout the forecast period?
  • Which area offers the most significant benefit for the world market?
  • What are the threats to business and the impact of the current scenario on growth and market perception?
  • What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?

Regional Analysis:

North America Holds Maximum Market Share

North America is expected to dominate the growth of Fast Food Market in 2021. The major driving factors for the market are increasing dual work households, rising household income levels, and large base of population which is increasing the demand for fast foods in the region. However, Asia Pacific is expected to grow at fastest Compound Annual Growth Rate (CAGR) owing to availability of large base of consumers as well as increasing household income levels of people in the region.

Recent Developments:

October 2021: Burger King expanded its U.S. menu with the plant-based "Impossible Nuggets" and the nationwide LTO release of Ghost Pepper Nuggets.

September 2021: Papa John's International signed a domestic franchisee development agreement in the U.S. with franchisee operator Sun Holdings in the U.S. According to the terms of the agreement, Sun Holdings will open 100 new stores across Texas by 2029.   

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Fast Food Market Fast Food Market Share Fast Food Market Trends Quick Service Restaurants Fast Casual Restaurants

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