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Fast Food Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

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    Report

  • 190 Pages
  • February 2024
  • Region: Global
  • Renub Research
  • ID: 5447678
Global Fast Food Market is predicted to be priced at around US$ 1,075.83 Billion by 2030. Food is known to play an essential role in developing and preventing many diseases. The practice of taking food also differs from society to society. Globalization and urbanization have greatly affected people's eating habits and propelled many people to consume fancy and high-calorie fast foods, popularly known as 'Junk food.' Fast food is essential as it is convenient food and easy to eat. Food eaten outside the house is now becoming a necessary everyday element of life. These quick changes in the levels and composition of dietary and activity/inactivity patterns in transitional societies are related to several socioeconomic and demographic changes.

Global Fast Food Market is foreseen to increase at a CAGR of 5.28% from 2024 to 2030

Rapid industrialization and urbanization worldwide are the key factors driving fast food market growth. Also, the rising disposable income of consumers is again expected to support the market growth during the forecast period. The major companies in the fast food market are focusing on increasing the efficiency of their operations to minimize operating costs and increase profitability. They are putting money into technology and automation to streamline their procedures. Moreover, they focus on marketing and promoting to improve their brand visibility in the global market.

Digital technology and delivery services are crucial in driving the global market, which has transformed the industry in many ways. Their impact is seen in several features of the fast food business, from improving customer comfort to developing operational efficiency. The fast food chains have highly developed mobile apps and user-friendly websites that allow customers to browse menus, customize orders, and place orders in a few taps. This convenience is increasingly a motive for more constant and extensive requests. Fast food chains increasingly use customer data to offer personalized recommendations, promotions, and loyalty rewards, creating a more engaging and tailored experience. Digital technology connects order-taking systems to kitchen display systems, reducing order errors and expediting food preparation. It also helps to manage inventory in real-time, ensuring that ingredients are available to meet customers' demands and minimize waste. So, the global fast food market was US$ 750.45 Billion in 2023.

Furthermore, an increase in the working population is supporting market growth. Nowadays, several restaurants offer delivery services and meal kits, which adds to the demand for fast food services. The rise in customer snacking habits also propels the need for fast food. On the other hand, the Asian fast-food segment is projected to register the most rapid increase over the forecast period. Increasing demand for diverse food products is driving the development of this segment.

Burgers and sandwiches have one of the highest shares in the global fast food market

By product types, the international fast food market is divided into Pizza/Pasta, Burger/Sandwich, Chicken, Asian/Latin American Food, Seafood, and Others. The burger/sandwich segment is expected to have one of the highest share in the near future. The enormous demand for a product is the cause. Also, the abundance of burger options, including protein options like beef, venison, and several others, can be credited with the rising demand for burgers and sandwiches. Furthermore, several food service providers are experimenting with various cheese, bacon, onion, and meatloaf fillings.

QSR (Quick Service Restaurants) segment is popular in the fast food market

By end-users, the global fast food market is fragmented into Quick Service Restaurants, Fast Casual Restaurants, Catering, and Others. The Quick Service Restaurant segment is one of the popular segments in fast-food industry. The market is anticipated to increase while maintaining its top spot. Numerous quick-service eateries have increased their off-premises sales in recent times. Support for delivery applications was improved by providers, which accelerated segment growth. Meanwhile, the expansion of this market is also being fueled by the increasing demand for global cuisines. For example, the market is gaining traction due to the prospects presented by rising globalization and the demand from emerging countries like Brazil and India. The segment will grow with the development of novel cuisines and flavors. For instance, in response to customers' shifting requirements and desires, McDonald's launched the BTS meal.

Major fast food players dominate the United States market due to high demand from the working population

By countries, the global fast food market is categorized into North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, and Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), Middle East & Africa (Saudi Arabia, UAE, and South Africa). The United States fast food sector has dominated the global market. The market expansion is driven by increased consumer expenditure for fast food in the region. The region's industry is rising due to the availability of a wide range of cuisines and reasonably priced snacks and add-ons in various flavors. Fast food chains are using technology highly, which has improved their ordering and delivery services, such as mobile apps, online ordering, and third-party delivery partnerships. The region also sees an influx of international flavors, with chains incorporating global cuisines and fusion dishes into their menus.

Key Players

Starbucks Corp., Papa John's International Inc., Domino's Pizza Inc., TheWendys Co., Performance Food Group, Yum! Brands, Inc., Restaurant Brands International Inc., and Kentucky Fried Chicken (KFC) are in the global fast food market.

In April 2023 - Fast food chain Burger King partnered with delivery management platform Bringg to improve customer experience in Brazil.

The report titled “Global Fast Food Market By Product Types (Pizza/Pasta, Burger/Sandwich, Chicken, Asian/Latin American Food, Seafood, and Others), End-Users (Quick Service Restaurants, Fast Casual Restaurants, Catering, and Others), Countries (North America (United States, Canada), Europe (France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, and Turkey), Asia Pacific (China, Japan, India, South Korea, Thailand, Malaysia, Indonesia, Australia, and New Zealand), Latin America (Brazil, Mexico, and Argentina), Middle East & Africa (Saudi Arabia, UAE, and South Africa)), Company Analysis (Starbucks Corp., Papa John's International Inc., Domino's Pizza Inc., The Wendys Co., Performance Food Group, Yum! Brands, Inc., Restaurant Brands International Inc., and Kentucky Fried Chicken (KFC))” provides a complete study of the Global Fast Food Industry.

Product Types - Global Fast Food Market breakup in 6 viewpoints:

1. Pizza/Pasta
2. Burger/Sandwich
3. Chicken
4. Asian/Latin American Food
5. Seafood
6. Others

End-Users - Global Fast Food Market breakup in 4 viewpoints:

1. Quick Service Restaurants
2. Fast Casual Restaurants
3. Catering
4. Others

Countries - Global Fast Food Market breakup in 25 viewpoints:

1. North America
1.1 United States
1.2 Canada
2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
5. Middle East & Africa
5.1 Saudi Arabia
5.2 UAE
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

  • Overview
  • Recent Development
  • Revenue Analysis

Company Analysis:

1. Starbucks Corp.
2. Papa John's International Inc.
3. Domino's Pizza Inc.
4. The Wendys Co.
5. Performance Food Group
6. Yum! Brands, Inc.
7. Restaurant Brands International Inc.
8. Kentucky Fried Chicken (KFC)
Frequently Asked Questions about the Global Fast Food Market

What is the estimated value of the Global Fast Food Market?

The Global Fast Food Market was estimated to be valued at $750.45 Billion in 2023.

What is the growth rate of the Global Fast Food Market?

The growth rate of the Global Fast Food Market is 5.2%, with an estimated value of $1075.83 Billion by 2030.

What is the forecasted size of the Global Fast Food Market?

The Global Fast Food Market is estimated to be worth $1075.83 Billion by 2030.

Who are the key companies in the Global Fast Food Market?

Key companies in the Global Fast Food Market include Starbucks Corp., Papa John's International Inc., Domino's Pizza Inc., The Wendys Co., Performance Food Group, Yum! Brands, Inc., Restaurant Brands International Inc. and Kentucky Fried Chicken (KFC).

Table of Contents

1. Introduction2. Research & Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Fast Food Market
6. Market Share - Global Fast Food Analysis
6.1 By Product Type
6.2 By End Users
6.3 By Country
7. Product Type - Global Fast Food Market
7.1 Pizza/Pasta
7.2 Burger/Sandwich
7.3 Chicken
7.4 Asian/Latin American Food
7.5 Seafood
7.6 Others
8. End Users - Global Fast Food Market
8.1 Quick Service Restaurants
8.2 Fast Casual Restaurants
8.3 Caterings
8.4 Others
9. Country - Global Fast Food Market
9.1 North America
9.1.1 United States
9.1.2 Canada
9.2 Europe
9.2.1 France
9.2.2 Germany
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Belgium
9.2.7 Netherlands
9.2.8 Turkey
9.3 Asia Pacific
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 South Korea
9.3.5 Thailand
9.3.6 Malaysia
9.3.7 Indonesia
9.3.8 Australia
9.3.9 New Zealand
9.4 Latin America
9.4.1 Brazil
9.4.2 Mexico
9.4.3 Argentina
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.2 UAE
9.5.3 South Africa
10. Porter’s Five Analysis - Global Fast Food Market
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis - Global Fast Food Market
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
12. Key Players
12.1 Starbucks Corp.
12.1.1 Overview
12.1.2 Recent Development
12.1.3 Revenue
12.2 Papa John's International Inc.
12.2.1 Overview
12.2.2 Recent Development
12.2.3 Revenue
12.3 Domino's Pizza Inc.
12.3.1 Overview
12.3.2 Recent Development
12.3.3 Revenue
12.4 The Wendys Co.
12.4.1 Overview
12.4.2 Recent Development
12.4.3 Revenue
12.5 Performance Food Group
12.5.1 Overview
12.5.2 Recent Development
12.5.3 Revenue
12.6 Yum! Brands, Inc.
12.6.1 Overview
12.6.2 Recent Development
12.6.3 Revenue
12.7 Restaurant Brands International Inc.
12.7.1 Overview
12.7.2 Recent Development
12.7.3 Revenue
12.8 Kentucky Fried Chicken (KFC)
12.8.1 Overview
12.8.2 Recent Development
12.8.3 Revenue
List of Figures
Figure-01: Global - Fast Food Market (Billion US$), 2019 - 2023
Figure-02: Global - Forecast for Fast Food Market (Billion US$), 2024 - 2030
Figure-03: Product Type - Pizza/Pasta Market (Million US$), 2019 - 2023
Figure-04: Product Type - Forecast for Pizza/Pasta Market (Million US$), 2024 - 2030
Figure-05: Product Type - Burger/Sandwich Market (Million US$), 2019 - 2023
Figure-06: Product Type - Forecast for Burger/Sandwich Market (Million US$), 2024 - 2030
Figure-07: Product Type - Chicken Market (Million US$), 2019 - 2023
Figure-08: Product Type - Forecast for Chicken Market (Million US$), 2024 - 2030
Figure-09: Product Type - Asian/Latin American Food Market (Million US$), 2019 - 2023
Figure-10: Product Type - Forecast for Asian/Latin American Food Market (Million US$), 2024 - 2030
Figure-11: Product Type - Seafood Market (Million US$), 2019 - 2023
Figure-12: Product Type - Forecast for Seafood Market (Million US$), 2024 - 2030
Figure-13: Product Type - Others Market (Million US$), 2019 - 2023
Figure-14: Product Type - Forecast for Others Market (Million US$), 2024 - 2030
Figure-15: End User - Quick Service Restaurants Market (Million US$), 2019 - 2023
Figure-16: End User - Forecast for Quick Service Restaurants Market (Million US$), 2024 - 2030
Figure-17: End User - Fast Casual Restaurants Market (Million US$), 2019 - 2023
Figure-18: End User - Forecast for Fast Casual Restaurants Market (Million US$), 2024 - 2030
Figure-19: End User - Caterings Market (Million US$), 2019 - 2023
Figure-20: End User - Forecast for Caterings Market (Million US$), 2024 - 2030
Figure-21: End User - Others Market (Million US$), 2019 - 2023
Figure-22: End User - Forecast for Others Market (Million US$), 2024 - 2030
Figure-23: United States - Fast Food Market (Million US$), 2019 - 2023
Figure-24: United States - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-25: Canada - Fast Food Market (Million US$), 2019 - 2023
Figure-26: Canada - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-27: France - Fast Food Market (Million US$), 2019 - 2023
Figure-28: France - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-29: Germany - Fast Food Market (Million US$), 2019 - 2023
Figure-30: Germany - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-31: Italy - Fast Food Market (Million US$), 2019 - 2023
Figure-32: Italy - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-33: Spain - Fast Food Market (Million US$), 2019 - 2023
Figure-34: Spain - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-35: United Kingdom - Fast Food Market (Million US$), 2019 - 2023
Figure-36: United Kingdom - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-37: Belgium - Fast Food Market (Million US$), 2019 - 2023
Figure-38: Belgium - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-39: Netherlands - Fast Food Market (Million US$), 2019 - 2023
Figure-40: Netherlands - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-41: Turkey - Fast Food Market (Million US$), 2019 - 2023
Figure-42: Turkey - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-43: China - Fast Food Market (Million US$), 2019 - 2023
Figure-44: China - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-45: Japan - Fast Food Market (Million US$), 2019 - 2023
Figure-46: Japan - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-47: India - Fast Food Market (Million US$), 2019 - 2023
Figure-48: India - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-49: South Korea - Fast Food Market (Million US$), 2019 - 2023
Figure-50: South Korea - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-51: Thailand - Fast Food Market (Million US$), 2019 - 2023
Figure-52: Thailand - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-53: Malaysia - Fast Food Market (Million US$), 2019 - 2023
Figure-54: Malaysia - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-55: Indonesia - Fast Food Market (Million US$), 2019 - 2023
Figure-56: Indonesia - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-57: Australia - Fast Food Market (Million US$), 2019 - 2023
Figure-58: Australia - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-59: New Zealand - Fast Food Market (Million US$), 2019 - 2023
Figure-60: New Zealand - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-61: Brazil - Fast Food Market (Million US$), 2019 - 2023
Figure-62: Brazil - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-63: Mexico - Fast Food Market (Million US$), 2019 - 2023
Figure-64: Mexico - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-65: Argentina - Fast Food Market (Million US$), 2019 - 2023
Figure-66: Argentina - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-67: Saudi Arabia - Fast Food Market (Million US$), 2019 - 2023
Figure-68: Saudi Arabia - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-69: UAE - Fast Food Market (Million US$), 2019 - 2023
Figure-70: UAE - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-71: South Africa - Fast Food Market (Million US$), 2019 - 2023
Figure-72: South Africa - Forecast for Fast Food Market (Million US$), 2024 - 2030
Figure-73: Starbucks Corp. - Global Revenue (Million US$), 2019 - 2023
Figure-74: Starbucks Corp. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-75: Papa John's International Inc. - Global Revenue (Million US$), 2019 - 2023
Figure-76: Papa John's International Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-77: Domino's Pizza Inc. - Global Revenue (Million US$), 2019 - 2023
Figure-78: Domino's Pizza Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-79: The Wendys Co. - Global Revenue (Million US$), 2019 - 2023
Figure-80: The Wendys Co. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-81: Performance Food Group - Global Revenue (Million US$), 2019 - 2023
Figure-82: Performance Food Group - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-83: Yum! Brands, Inc. - Global Revenue (Million US$), 2019 - 2023
Figure-84: Yum! Brands, Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-85: Restaurant Brands International Inc. - Global Revenue (Million US$), 2019 - 2023
Figure-86: Restaurant Brands International Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-87: Kentucky Fried Chicken (KFC) - Global Revenue (Million US$), 2019 - 2023
Figure-88: Kentucky Fried Chicken (KFC) - Forecast for Global Revenue (Million US$), 2024 - 2030
List of Tables
Table-01: Global - Fast Food Market Share by Product Type (Percent), 2019 - 2023
Table-02: Global - Forecast for Fast Food Market Share by Product Type (Percent), 2024 - 2030
Table-03: Global - Fast Food Market Share by End User (Percent), 2019 - 2023
Table-04: Global - Forecast for Fast Food Market Share by End User (Percent), 2024 - 2030
Table-05: Global - Fast Food Market Share by Region (Percent), 2019 - 2023
Table-06: Global - Forecast for Fast Food Market Share by Region (Percent), 2024 - 2030

Companies Mentioned

  • Starbucks Corp.
  • Papa John's International Inc.
  • Domino's Pizza Inc.
  • The Wendys Co.
  • Performance Food Group
  • Yum! Brands, Inc.
  • Restaurant Brands International Inc.
  • Kentucky Fried Chicken (KFC)

Methodology

In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.

Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.

Primary Research

The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develop the analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth, and forecast

The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:

  • Chief executives and VPs of leading corporations specific to the industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
  • Key opinion leaders (KOLs)

Secondary Research

The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, webcasts, and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
 

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