04-Mar-2021 | Zion Market Research
Fast food means food that is served quickly by the restaurants to satisfy the appetite of the customers. For the record, serving of fast food commenced with fish & chip shops in England during 1860s. Reportedly, drive through restaurants was set up in the U.S. in 1950s and the term fast food was used by Merriam Webster dictionary during 1951. Additionally, fast food is a kind of mass manufactured food that is used for commercial resale and highlights the priority on speedy food service. The global fast food market was projected at 701 (USD Billion) in 2019 and will garner revenue worth 900 (USD Billion) by 2026. The market is projected to record a cumulative growth rate of approximately 4.2% over 2020-2026.
Hectic lifestyle and busy work schedule has resulted in massive demand for fast food across the globe in the recent years. Apparently, fast foods can be easily prepared, are cost-effective, and loved by individuals belonging to different age-group of population. With market for fast food across the globe influenced by customer preference and demographics, it is likely to gain traction over the ensuing years. The global expansion of fast food chains such as MacDonald and Domino globally will contribute majorly towards the overall market size in the years to come. However, excessive intake of fast food has reportedly caused health issues such as obesity and type 2 diabetes, thereby creating hurdles in the path of fast food market expansion in the recent years. Growing popularity of vegan diet in Europe and North America will further contribute towards healthy & nutritious food demand, thereby accounting for major share of fast food market in the coming decade.
Pizza To Dominate Type Segment Over 2020-2026
The segmental growth over the forecast timeline is attributed to growing intake of pizzas by the working population in the countries of Asia, North America, and Europe. Moreover, with increase in the outlets of Domino, Pizza Hut, and Papa John across the globe, the pizza segment is likely to make notable contributions towards fast food market revenue in the coming years.
North American Market To Experience Humungous Surge By 2026
The expansion of fast food industry in North America over the assessment period is credited to large-scale presence of the giant fast food restaurants such as Macdonald, Pizza Hut, Papa John, and Sbarro in the U.S. Reportedly, over 40% restaurants serve fast food in central Los Angeles and the U.S. possess the largest fast food industry chain across the globe with its fast food outlets located in more than 100 nations. The regional market growth is likely to gain momentum in the coming years due to the ability of the fast food chain restaurants to provide huge employment to the locals in the countries like the U.S. With rise in the drive-in and drive-through restaurants in the U.S. and Canada, the regional market is likely to witness a noteworthy expansion in the years ahead.
Key players profiled in the research study include Dunkin Brands, Domino’s Pizza Inc, McDonald’s Corporation, Doctor’s Associates Inc, Papa John’s Pizza, Burger King Worldwide Inc, Wendy’s International Inc, Yum! Brands Inc., Jack in the Box Inc, and Dairy Queen.
Browse the full “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, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/fast-food-market
This report segments the global fast food market as follows:
Global Fast Food Market: Category Analysis
Global Fast Food Market: Type Analysis
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