CLEVELAND, April 24, 2020 /PRNewswire/ -- Revenues generated by fast food restaurants are forecast to advance 3.7% annually in nominal dollars through 2024, according to Fast Food: United States, a report recently released by Freedonia Focus Reports. Operators of fast food restaurants are expected to continue to benefit from menu innovation, such as offering plant-based meat-alternative burgers, and competitive advantages over full-service restaurant types when it comes to service convenience, speed, and price. In addition, the ongoing improvements in food quality and recent building upgrades will help boost visits. Expanding availability and consumer adoption of food delivery services will support demand by further increasing the convenience of purchasing fast food, particularly for those unable or unwilling to leave the house. Faster growth will be limited by concerns about fast foods' negative effect on health and competition from full-service and fast casual outlets.
These and other key insights are featured in Fast Food: United States. This report forecasts to 2024 US fast food revenues in nominal US dollars. Total revenues are segmented by region in terms of:
In addition, discussion is provided for key topics and trends in the fast food industry, including:
- consumer trends
- restaurant and foodservice suppliers
- regulatory and health factors
- value menus
- menu innovations
- virtual kitchens
- restaurant remodeling
To illustrate historical trends, total revenues and the various segments, and the number of firms, establishments, and employment are provided in annual series from 2009 to 2019.
The revenues presented in this report represent fast food restaurants. Fast casual restaurants and snack, bakery, and coffee shops are excluded from revenue figures but are discussed as competitors. Revenues represent food and nonalcoholic beverages, including taxes and tips.
More information about the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group