Fast Food Market: 45% of Growth to Originate from APAC, Non-Vegetarian Fast Food Segment to be Significant for Revenue Generation -Technavio
NEW YORK, Aug. 9, 2022 /PRNewswire/ -- The fast food market size is set to grow by USD 87.27 billion from 2020 to 2025, progressing at a CAGR of 2.45% as per the latest market research report by Technavio. 45% of the market's growth will originate from APAC during the forecast period. US, China, Japan, Canada, and the UK are the key markets for the market in APAC. Market growth in this region will be faster than the growth of the market in regions. The significant increase in the adoption of restaurant services by enterprises across industries in countries will facilitate the market growth in APAC over the forecast period.
The market research report segments the fast food market by Product (Non-vegetarian fast food and Vegetarian fast food) and Geography (North America, APAC, Europe, South America, and MEA).
Revenue Generating Segment -The Non-vegetarian fast food segment will be significant for revenue generation. To attract consumers, various fast food outlets focus on offering innovative items on their non-vegetarian menus. Fish, seafood, chicken, beef, and others are mostly demanded by consumers. Non-vegetarian fast food is appetizing, and the mode of preparation differs from restaurant to restaurant. The taste differences encourage consumers to try different non-vegetarian foods at various restaurants, which, in turn, influences the market's growth. The demand for low-calorie and high-protein food products (like those that are made purely out of meat) is also driving the growth of the global non-vegetarian fast food market. Chicken is one of the highly demanded non-vegetarian fast food categories in the global non-vegetarian fast food market. The sales of fast food items made of chicken contribute to the market's growth significantly.
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Fast Food Market: Major Driver
The increasing online presence of fast food vendors is a key driving factor impacting the global fast-food market growth.
The rising penetration of smartphones, coupled with the increasing accessibility to the Internet, is promoting the sale of fast food online. The personalized shopping assistance and suggestions on fast food products with respect to toppings, fillings, sauces, and others are among the major benefits of shopping online. E-commerce vendors allow customers to collect information and compare various fast food product varieties and types available on the site, based on the ingredients used. Vendors are motivated to offer fast food through online platforms, as it gives them easy access to the market and reduces their overhead costs by eliminating the need to rent or lease retail premises and hire workers. Therefore, the increasing online presence of fast food vendors will spur market growth during the forecast period.
Fast Food Market: Major Challenge
Health concerns pertaining to the excessive consumption of fast foods are a key challenge negatively impacting the global fast-food market growth.
There are various concerns regarding the health impacts of consuming fast food. The consumption of fast food may lead to various health issues such as obesity, diabetes, and others. The number of obese people in the world is increasing year over year because of changing food habits and lifestyles. The rising occurrence of health issues associated with food habits and lifestyles has made consumers more conscious about the food items that they consume. The rising awareness among consumers that fast food generally contains a high number of calories and fewer micronutrients persuades them to avoid consuming it. This is more likely to restrain the market growth, and hence it is acting as a major challenge for the global fast-food market.
The competitive scenario provided in the Fast Food Market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don't wait, Make a strategic approach & boost your business goals with our Fast Food Market Forecast Report - Buy Now!
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Fast Food Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 2.45%
Market growth 2021-2025
USD 87.27 billion
Market structure
Fragmented
YoY growth (%)
1.84
Regional analysis
North America, APAC, Europe, South America, and MEA
Performing market contribution
APAC at 45%
Key consumer countries
US, China, Japan, Canada, and the UK
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
American Dairy Queen Corp., Doctors Associates LLC, Dominos Pizza Inc., Inspire Brands Inc., McDonald Corp., Papa Johns International Inc., Restaurant Brands International Inc., Starbucks Coffee Company, The Wendys Co., and YUM Brands Inc.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 50: Dominos Pizza Inc. - Business segments
Exhibit 51: Dominos Pizza Inc. - Key offerings
Exhibit 52: Dominos Pizza Inc. - Segment focus
10.6 Inspire Brands Inc.
Exhibit 53: Inspire Brands Inc. - Overview
Exhibit 54: Inspire Brands Inc. - Product and service
Exhibit 55: Inspire Brands Inc. - Key offerings
10.7 McDonald Corp.
10.8 Papa Johns International Inc.
Exhibit 60: Papa Johns International Inc. - Overview
Exhibit 61: Papa Johns International Inc. - Business segments
Exhibit 62: Papa Johns International Inc.- Key news
Exhibit 63: Papa Johns International Inc. - Key offerings
Exhibit 64: Papa Johns International Inc. - Segment focus
10.9 Restaurant Brands International Inc.
Exhibit 65: Restaurant Brands International Inc. - Overview
Exhibit 66: Restaurant Brands International Inc. - Business segments
Exhibit 67: Restaurant Brands International Inc.- Key news
Exhibit 68: Restaurant Brands International Inc. - Key offerings
Exhibit 69: Restaurant Brands International Inc. - Segment focus
10.10 Starbucks Coffee Company
Exhibit 70: Starbucks Coffee Company - Overview
Exhibit 71: Starbucks Coffee Company - Business segments
Exhibit 72: Starbucks Coffee Company- Key news
Exhibit 73: Starbucks Coffee Company - Key offerings
Exhibit 74: Starbucks Coffee Company - Segment focus
10.11 The Wendys Co.
Exhibit 75: The Wendys Co. - Overview
Exhibit 76: The Wendys Co. - Business segments
Exhibit 77: The Wendys Co.- Key news
Exhibit 78: The Wendys Co. - Key offerings
Exhibit 79: The Wendys Co. - Segment focus
10.12 YUM Brands Inc.
Exhibit 80: YUM Brands Inc. - Overview
Exhibit 81: YUM Brands Inc. - Business segments
Exhibit 82: YUM Brands Inc.- Key news
Exhibit 83: YUM Brands Inc. - Key offerings
Exhibit 84: YUM Brands Inc. - Segment focus
11 Appendix
11.1 Scope of the report
11.2 Currency conversion rates for US$
Exhibit 85: Currency conversion rates for US$
11.3 Research methodology
Exhibit 86: Research Methodology
Exhibit 87: Validation techniques employed for market sizing
Exhibit 88: Information sources
11.4 List of abbreviations
Exhibit 89: List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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