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Global Fast Food Market Share, Size, Trends, Trends, Report: 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 size reached approximately USD 797.14 billion in 2023. The market is projected to grow at a CAGR of 4.9% between 2024 and 2032, reaching a value of around USD 1,226.05 billion by 2032.
Key Takeaways
- One out of every three children and adolescents consumes fast food on a daily basis.
- Around 37 per cent of adults in the US eat fast food on a daily basis.
- 30 per cent of fast-food establishments feature healthier options on their children's menus.
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 cannot spare time for cooking. Instead, these precooked meals such as burgers and pizzas ensure quick service and great flavour. 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 takeaway 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.
One of the major factors driving the fast food market growth is the shift in consumer preference towards food delivery apps, especially after 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, rising investment by leading manufacturers in the development of innovative products to attract consumers is also a major factor in the increased consumption of fast food.
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Key Trends and Developments
International and local fusion; increased integration of technology; growing popularity of plant-based alternatives; and rising emphasis on sustainability practices are the major trends impacting the fast food market expansion
| Date | Company | News |
| Feb 2024 | Mary Brown's Chicken | Mary Brown's Chicken, a Canadian fast food chain famous for its Big Mary chicken sandwich, is set to make its debut in the United Kingdom for the first time. |
| Feb 2024 | McDonald’s | McDonald’s plans to launch approximately 1,000 new restaurants in China this year, targeting lower-tier cities where the demand for Western fast food continues to be strong. |
| Jan 2024 | Taco Bell | Taco Bell is introducing a new value menu that features 10 items priced at $3 or less, along with a novel, vegetarian “Build-Your-Own-Cravings-Box” option. |
| May 2023 | Wendy’s | Wendy’s is set to initiate a trial of an AI-driven chatbot designed to receive customer orders at drive-thrus. The test program, named Wendy’s FreshAI, is being launched in collaboration with Google. |
| Trends | Impact |
| International and local fusion in fast-food menu | Fast food menus are increasingly incorporating international flavours and local culinary traditions, catering to diverse tastes and the inimizing ti of palates. |
| Increased integration of technology in fast-food businesses | Digital ordering through apps and websites, contactless payments, and AI-driven inimizing tion are becoming standard. |
| Growing popularity of plant-based alternatives | The rise of veganism and concerns about meat consumption’s environmental impact have led to an increased availability of plant-based alternatives. |
| Rising emphasis on sustainability practices | Some common sustainability practices in the fast food market include reducing plastic use, inimizing food waste, sourcing ingredients sustainably, and using eco-friendly packaging. |
Fast Food Market Trends
The increasing popularity of veganism and the heightened awareness about the environmental impact of meat consumption are driving significant changes in the market. Consumers seeking healthier dietary choices are increasingly opting for plant-based fast food options. Plant-based diets are often associated with health benefits, including lower risks of heart disease, hypertension, diabetes, and certain types of cancer. Recognising the growing demand, fast food chains are expanding their menus to include plant-based burgers, chicken substitutes, and other vegan-friendly items, which not only cater to vegans but also meat-eaters looking to reduce their meat consumption and further play a crucial role in the fast food market development.
Announced in February 2024, McDonald's expansion strategy to open around 1,000 new restaurants in China within the year is a significant move aimed at tapping into the growing demand for Western fast food, especially in lower-tier cities. By increasing its footprint, McDonald's aims to strengthen its brand presence across China, making it more accessible to a wider audience and this accessibility can translate into brand loyalty and customer retention.
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Market Segmentation
“Fast Food Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
| Market Breakup | Categories |
| Product Type | Pizza/Pasta, Burgers/Sandwiches, Chicken, Asian/Latin America Food, Seafood, Others |
| End User | Full-Service Restaurants, Quick Service Restaurants, Caterings, Others |
| Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
Pizza and pasta, increasingly preferred for their taste and diverse variety, account for a major fast food market share
Pizza and pasta are among the most popular fast food products due to a combination of factors that appeal to a wide consumer base. Pizza and pasta are beloved across cultures for their versatility and the ability to cater to a wide range of tastes. They can be customised with various toppings and sauces to meet diverse dietary preferences, including vegetarian, vegan, and meat-based diets, making them universally appealing. Both pizza and pasta stand out for their convenience. Pizza, in particular, is synonymous with quick delivery and ease of consumption, making it a go-to choice for social gatherings, parties, and individual meals.
Burgers and sandwiches also hold a significant portion of the fast food market. One of the key factors contributing to the popularity of burgers and sandwiches is their convenience and portability. They are easy to eat on the go, making them ideal for fast-paced lifestyles.
Quick service restaurants maintain their dominance in the market due to speedy services and cost-effectiveness
Based on end user, the quick service restaurants segment is predicted to account for a significant market share. This growth can be attributed to 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.
The fast food market growth is also influenced by the full-service restaurants as consumers increasingly value quality dining experiences where the ambience, service, and food quality are prioritised. Full-service restaurants are perceived to offer healthier, higher-quality menu options with more opportunities for customisation. As consumers become more health-conscious and interested in dietary restrictions, full-service establishments can cater to these needs more flexibly than traditional fast-food outlets.
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Competitive Landscape
The market players are adding innovative options to their menus and expanding their services to gain a competitive edge in the market
| Company | Founded | Headquarters | Product Range |
| Auntie Anne’s Franchisor SPV LLC | 1988 | Georgia, the United States | Soft pretzels, dips, beverages, and other pretzel-based products |
| Cinnabon Franchisor SPV LLC | 1985 | Georgia, the United States | Cinnamon rolls and range of baked goods, including Minibon Rolls and Cinnabon Bites |
| Jubilant FoodWorks Limited | 1995 | Uttar Pradesh, India | Wide variety of pizza styles and toppings; holds the master franchise for Domino's in India, among other Asian countries |
| Inspire Brands | 2018 | Georgia, the United States | Sandwiches, sports bar, and tacos, among others |
Other major players in the market include McDonald's Corporation, Subway IP LLC, Yum Brands Inc., Restaurant Brands International Inc., Taco Bell IP Holder, LLC, Hardee's Restaurants LLC, and Firehouse Restaurant Group, Inc., among others. The market is highly competitive and diverse, featuring a wide array of global giants, regional favourites, and niche players.
Fast Food Market Analysis by Region
North America is estimated to hold a considerable share of the market 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 high investments in the fast food market are major factors contributing to its development.
The Asia Pacific fast food market is also anticipated to foresee sizeable growth as the region is witnessing rapid urbanisation, with a growing number of people moving to cities in search of employment and a better standard of living. Urban environments are conducive to the growth of fast food chains due to the dense population and fast-paced lifestyle of city dwellers, who often seek quick, convenient meal solutions.
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:
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| Breakup by Product Type |
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| Breakup by End User |
|
| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 Taco Bell IP Holder, LLC
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 Auntie Anne’s Franchisor SPV 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 Cinnabon Franchisor SPV LLC
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 Jubilant FoodWorks Ltd.
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 Inspire Brands, Inc.
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 Hardee's Restaurants LLC
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 Firehouse Restaurant Group, Inc.
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 market is estimated to witness a healthy growth during 2024-2032 to reach around USD 1,226.05 billion by 2032.
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 market are McDonald's Corporation, Subway IP LLC, Yum Brands Inc., Restaurant Brands International Inc., Taco Bell IP Holder, LLC, Auntie Anne’s Franchisor SPV LLC, Cinnabon Franchisor SPV LLC, 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 major players in the market are McDonald's Corporation, Subway IP LLC, Yum Brands Inc., Restaurant Brands International Inc., Taco Bell IP Holder, LLC, Auntie Anne’s Franchisor SPV LLC, Cinnabon Franchisor SPV LLC, 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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