Fast Food Market to grow by USD 123.43 billion from 2022 to 2027- Technavio

NEW YORK, Oct. 27, 2023 /PRNewswire/ -- The fast food market is estimated to grow by USD 123.43 billion from 2022 to 2027, growing at a CAGR of 3.28%. The fast food market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer fast food market are American Dairy Queen Corp., Chipotle Mexican Grill Inc., Corporativo Bimbo SA de CV, Dominos Pizza Inc., Doughnut Time Ltd., Focus Brands LLC, Glory Hole Doughnuts, Inspire Brands Inc., JAB Holding Co. Sarl, Jack in the Box Inc., Jimmy Johns Franchisor SPV LLC, McDonald Corp., Papa Johns International Inc., Penn Station Inc., Pita Pit Ltd., Restaurant Brands International Inc., Starbucks Corp., The Subway Group, The Wendys Co., and YUM Brands Inc. The report provides a full list of key companies, their strategies, and the latest developments. Download Sample before buying

Company Offering:

• American Dairy Queen Corp: The company offers fast foods such as burgers and sandwiches, chicken baskets, and snacks.
• Corporativo Bimbo SA de CV: The company offers fast foods such as bread and doughnuts.
• Dominos Pizza Inc: The company offers fast foods such as pizza, fries, and pasta.
• For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, APAC, Europe, South America, and Middle East and Africa. APAC will have the largest share of the market.

• APAC accounts for 34% of the market growth during the forecast period. there is a significant change in the lifestyle of consumers with the increasing rate of employment and income levels. Therefore, the demand for convenient food options is increasing. In addition,  rapid urbanization is also fuelling the dependency on fast food. China, Japan, and India are some of the key contributing countries in the fast food market in APAC. Hence, such factors drive the market growth in APAC during the forecast period.

Download a sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Increasing online presence of fast food companies
• Key Trend - Growing number of fast-food outlets
• Major Challenges - Health concerns pertaining to the excessive consumption of fast foods

 Market Segmentation

• The market share by the non-vegetarian fast food segment is significant during the forecast period. There is a growing popularity for non-vegetarian fast food products among the working population. Non-vegetarian wraps, burgers, sandwiches, and pops are some of the popular on-the-go fast food products. Several market players are focusing on sauces and spices with these products. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.

Technavio Research experts have provided more insights on the market share of segments - View Sample Report

Related Reports:
The food service market size is estimated to grow at a CAGR of 28.35% between 2022 and 2027. The market size is forecast to increase by USD 13,612.51 million. 

The dining out market size is estimated to grow at a CAGR of 53.21% between 2022 and 2027. The dining out market size is forecast to increase by USD 9,365.88 billion. 

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product

7 Market Segmentation by Service Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio