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Global Fast Food Market Share, Size, Trends, Forecast: By Product Type: Pizza/Pasta, Burgers/Sandwiches, Chicken, Asian/Latin America Food, Seafood, Others; By End User: Full-Service Restaurants, Quick Service Restaurants, Caterings, Others; Regional Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Fast Food Market Outlook
The global fast food market stood at a value of around USD 797.14 billion in 2023 and expected to grow at a CAGR of 4.9% in the forecast period of 2024-2032 to attain a value of around USD 1,226.05 billion by 2032.
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Quick Service Restaurants to Account for a Significant Market Share of the Global Fast Food Industry
Based on end user, the quick service restaurants segment is predicted to account for a significant market share in the fast food industry. This growth can be attributed to the favourable factors associated with quick service restaurants, such as cost-effectiveness and speedy and uniform services with a vast menu. In addition, these restaurants attract the working population and the youth with their economical food, innovative menu, and attractive discounts. Moreover, with the increasing demand for fast food, many quick service restaurants are being opened, with the rise of business ventures such as cloud kitchens. These factors are expected to aid the market growth in the forecast period.
North America to Hold a Considerable Market Share in the Global Fast Food Industry
North America is estimated to hold a considerable share of the fast food industry in the forecast period. This growth can be attributed to the rapid expansion of fast food chains in the region due to the heightened popularity of fast foods. In addition, busy lifestyles and the growing disposable income are contributing to the increased preference for fast food restaurants in the region. Furthermore, the implementation of innovative strategies such as new cooking styles and specialised menus to cater to the growing market trends, such as veganism, are expected to drive the market growth. Moreover, the presence of leading market players in the region and consequential high investments in the fast food industry is a major factor contributing to the market growth.
Fast Food: Market Segmentation
Fast food refers to edibles that are mass produced to be served expeditiously. Therefore, speed is the major priority in the production of fast food. Fast food comprises a cost-effective menu engineered for the busy working population that could not spare time for cooking. Instead, these precooked meals such as burgers and pizzas ensured speed and flavour to the consumers. Today, fast food is extremely popular among consumers of all ages, as fast food joints are ubiquitous and offer a wide variety of options catered to most consumer preferences. Apart from dine-in, fast food restaurants also provide facilities for take away and drive through. Moreover, with the advent of the internet, consumers are increasingly utilising food delivery apps to order from major delivery restaurants such as Domino's and McDonald's.
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By type, the market is divided into:
- Pizza/Pasta
- Burgers/Sandwiches
- Chicken
- Asian/Latin American Food
- Seafood
- Others
On the basis of end user, the industry can be segmented into:
- Full Service Restaurants
- Quick Service Restaurants
- Caterings
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rise of Food Delivery Apps and the Adoption of Innovative Production Strategies to Bolster the Growth of the Global Fast Food Industry
Consumer preference has shifted to the online channel, such as food delivery apps, especially with the advent of the Covid-19 pandemic. Since dining out at restaurants was no longer viable, due to the nationwide lockdowns and norms of social distancing, consumers increasingly utilised food delivery apps such as Ubereats and GrubHub, among others. In addition, these delivery apps are helping to reduce the maintenance costs of brick-and-mortar restaurants. Moreover, the rising investments in the development of innovative products to attract consumers by the leading manufacturers are also a major factor in the increased consumption of fast food. For instance, in October 2020, Dunkin' Donuts, a leading quick service restaurant under Dunkin' Brands, announced the launch of their spicy ghost pepper flavoured donut, which is claimed to be the first of its kind donut mixed with cayenne and ghost pepper spice blend. However, the long-term health hazards such as the high risk of obesity, heart diseases, digestive issues, and diabetes associated with the consumption of large amounts of fast foods are expected to act as potential constraints in the market growth.
Key Industry Players in the Global Fast Food Market
The report gives a detailed analysis of the following key players in the global fast food market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Auntie Anne’s Franchisor SPV LLC
- Cinnabon Franchisor SPV LLC
- Domino’s Pizza (Jubilant FoodWorks Ltd.)
- Inspire Brands, Inc.
- Hardee's Restaurants LLC
- Firehouse Restaurant Group, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Fast Food Market Analysis
8.1 Key Industry Highlights
8.2 Global Fast Food Historical Market (2018-2023)
8.3 Global Fast Food Market Forecast (2024-2032)
8.4 Global Fast Food Market by Product Type
8.4.1 Pizza/Pasta
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Burgers/Sandwiches
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Chicken
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Asian/Latin America Food
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Seafood
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Fast Food Market by End User
8.5.1 Full-Service Restaurants
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Quick Service Restaurants
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Caterings
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Fast Food Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Fast Food Market Analysis
9.1 Market by Product Type
9.2 Market by End User
9.3 Market by Country
9.3.1 United States of America
9.3.1.1 Historical Trend (2018-2023)
9.3.1.2 Forecast Trend (2024-2032)
9.3.2 Canada
9.3.2.1 Historical Trend (2018-2023)
9.3.2.2 Forecast Trend (2024-2032)
10 Europe Fast Food Market Analysis
10.1 Market by Product Type
10.2 Market by End User
10.3 Market by Country
10.3.1 United Kingdom
10.3.1.1 Historical Trend (2018-2023)
10.3.1.2 Forecast Trend (2024-2032)
10.3.2 Germany
10.3.2.1 Historical Trend (2018-2023)
10.3.2.2 Forecast Trend (2024-2032)
10.3.3 France
10.3.3.1 Historical Trend (2018-2023)
10.3.3.2 Forecast Trend (2024-2032)
10.3.4 Italy
10.3.4.1 Historical Trend (2018-2023)
10.3.4.2 Forecast Trend (2024-2032)
10.3.5 Others
11 Asia Pacific Fast Food Market Analysis
11.1 Market by Product Type
11.2 Market by End User
11.3 Market by Country
11.3.1 China
11.3.1.1 Historical Trend (2018-2023)
11.3.1.2 Forecast Trend (2024-2032)
11.3.2 Japan
11.3.2.1 Historical Trend (2018-2023)
11.3.2.2 Forecast Trend (2024-2032)
11.3.3 India
11.3.3.1 Historical Trend (2018-2023)
11.3.3.2 Forecast Trend (2024-2032)
11.3.4 ASEAN
11.3.4.1 Historical Trend (2018-2023)
11.3.4.2 Forecast Trend (2024-2032)
11.3.5 South Korea
11.3.5.1 Historical Trend (2018-2023)
11.3.5.2 Forecast Trend (2024-2032)
11.3.6 Australia
11.3.6.1 Historical Trend (2018-2023)
11.3.6.2 Forecast Trend (2024-2032)
11.3.7 Others
12 Latin America Fast Food Market Analysis
12.1 Market by Product Type
12.2 Market by End User
12.3 Market by Country
12.3.1 Brazil
12.3.1.1 Historical Trend (2018-2023)
12.3.1.2 Forecast Trend (2024-2032)
12.3.2 Argentina
12.3.2.1 Historical Trend (2018-2023)
12.3.2.2 Forecast Trend (2024-2032)
12.3.3 Mexico
12.3.3.1 Historical Trend (2018-2023)
12.3.3.2 Forecast Trend (2024-2032)
12.3.4 Others
13 Middle East and Africa Fast Food Market Analysis
13.1 Market by Product Type
13.2 Market by End User
13.3 Market by Country
13.3.1 Saudi Arabia
13.3.1.1 Historical Trend (2018-2023)
13.3.1.2 Forecast Trend (2024-2032)
13.3.2 United Arab Emirates
13.3.2.1 Historical Trend (2018-2023)
13.3.2.2 Forecast Trend (2024-2032)
13.3.3 Nigeria
13.3.3.1 Historical Trend (2018-2023)
13.3.3.2 Forecast Trend (2024-2032)
13.3.4 South Africa
13.3.4.1 Historical Trend (2018-2023)
13.3.4.2 Forecast Trend (2024-2032)
13.3.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 McDonald's Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Subway IP LLC
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Yum Brands Inc.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Restaurant Brands International Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Jubilant FoodWorks Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Taco Bell IP Holder, LLC
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Inspire Brands, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Auntie Anne’s Franchisor SPV LLC
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Cinnabon Franchisor SPV LLC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Firehouse Restaurant Group, Inc.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Hardee's Restaurants LLC
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fast Food Market: Key Industry Highlights, 2018 and 2032
2. Global Fast Food Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Fast Food Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Fast Food Historical Market: Breakup by End User (USD Million), 2018-2023
5. Global Fast Food Market Forecast: Breakup by End User (USD Million), 2024-2032
6. Global Fast Food Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Fast Food Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Fast Food Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Fast Food Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Fast Food Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Fast Food Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Fast Food Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Fast Food Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Fast Food Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Fast Food Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Fast Food Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Fast Food Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Fast Food Market Structure
Key Questions Answered in the Report
In 2023, the global fast-food market attained a value of nearly USD 797.14 billion.
The market is projected to grow at a CAGR of 4.9% between 2024 and 2032.
The major drivers of the industry such as the increased demand for quick and cost-effective food, growing working population, rapid expansion of fast food chains, growing disposable income, and the rapid investments in the research and development of fast food network are expected to aid the market growth.
The key market trends guiding the growth of the industry include the increased preference for food delivery apps and rising investments in the development of innovative products.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant product types include pizza/pasta, burgers/sandwiches, chicken, Asian/ Latin American food, and seafood, among others.
The major segments of the product based on end user include full-service restaurants, quick service restaurants, and caterings, among others.
The major players in the industry are Auntie Anne’s Franchisor SPV LLC, Cinnabon Franchisor SPV LLC, Domino’s Pizza (Jubilant FoodWorks Ltd.), Inspire Brands, Inc., Hardee's Restaurants LLC, and Firehouse Restaurant Group, Inc., among others.
Analyst Review
The global fast-food market attained a value of USD 797.14 billion in 2023, driven by the increased prevalence of food delivery apps. Aided by heightened adoption of innovative strategies in the production of fast food and growing working population, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 4.9%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By type, the market can be distributed into pizza/pasta, burgers/sandwiches, chicken, Asian/ Latin American food, and seafood, among others. On the basis of end users, the industry can be segmented into full-service restaurants, quick service restaurants, and caterings, among others. The major regional markets for the fast food are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Auntie Anne’s Franchisor SPV LLC, Cinnabon Franchisor SPV LLC, Domino’s Pizza (Jubilant FoodWorks Ltd.), Inspire Brands, Inc., Hardee's Restaurants LLC, and Firehouse Restaurant Group, Inc., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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