Fast Food Market to Accelerate at a CAGR of over 2%|The changing Consumer Taste Preferences to Boost Growth |Technavio

NEW YORK, March 5, 2021 /PRNewswire/ -- The fast-food market is expected to grow by USD 75.85 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the fast-food market in optimistic, probable, and pessimistic forecast scenarios. Enterprises will go through the Response, Recovery, and Renew phases. Download a Free Sample Report on COVID-19

The fast-food market will witness a negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio's pandemic-focused market research, market growth is likely to decrease as compared to 2019.

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the next normal.

This post-pandemic business planning research will aid clients to:

• Adjust their strategic planning to move ahead once business stability kicks in.
• Build resilience by making effective resource and investment choices for individual business units, products, and service lines.
• Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure

Key Considerations for Market Forecast:

• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates

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Major Three Fast Food Market Participants:

American Dairy Queen Corp.

American Dairy Queen Corp. operates the business through the Unified segment. Key products offered by the company include Super Star with Cheeseburger and Beyond Famous Star with Cheeseburger.

Doctors Associates LLC

Doctors Associates LLC operates the business through Restaurant service and Catering. The company offers sandwiches and wraps under the brand name Subway.

McDonald Corp.

McDonald Corp. operates the business through the Unified segment. Key products offered by the company include Big Mac burgers and Chicken McNuggets.

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If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get a detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/fast-food-market-industry-analysis

Fast Food Market 2020-2024: Segmentation

The fast-food market is segmented as below:

• Product
• Non-vegetarian Fast Food
• Vegetarian Fast Food
• Geography
• North America
• APAC
• Europe
• South America
• MEA

The fast-food market is driven by the increasing online presence of fast food vendors. In addition, other factors such as an increase in the number of fast-food outlets and the expansion to various regions are expected to trigger the fast-food market toward witnessing a CAGR of over 2% during the forecast period.

Get more insights about the global trends impacting the future of the fast-food market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR45866

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Report Link: https://www.technavio.com/report/fast-food-market-industry-analysis

SOURCE Technavio