Fast Food Restaurants in the US - Industry Market Research Report

Driving through: Industry competition will keep prices low, cutting into overall revenue growth

Over the five years to 2023, Fast Food Restaurants have grappled with shifting consumer preferences and a saturated food service landscape that has kept prices low. The rising popularity of fast-casual restaurants benefits the industry, helping to maintain revenue growth. Moreover, intense internal and external competition forces fast-food operators to emphasize low prices in a battle to attract consumers. As a result, industry revenue grew at a CAGR of 2.5% to $366.9 billion over the past five years, including an increase of 1.3% in 2023 alone.

This industry comprises restaurants where patrons pay for quick-service food products before eating. Purchases may be consumed on-site, taken out or delivered. This industry excludes coffee and snack shops. Most industry establishments also sell beverages, such as water, juice and sodas, but usually not alcohol.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.