New York, NY, April 06, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Fast Food Market by Type (Chicken, Burger/Sandwich, Asian/Latin American Food, Pizza/Pasta, Sea-Food, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global fast food market was valued at over USD 539.63 billion in 2016, is expected to reach above USD 690.80 billion in 2022 and is anticipated to grow at a CAGR of slightly above 4.20% between 2017 and 2022.
Fast food is a type of mass-produced food with high saturated fat, sugar, salt, and calories. Typically, the term refers to food available in a restaurant or store with preheated or precooked ingredients, and served to the customer in a packaged form for take-out or to be consumed on the premises. According to the National Institutes of Health (NIH), fast foods are quick alternatives to home-cooked meals. They provide delivery options in a relatively small time. Fast food options include fries, burgers, pizzas, sandwiches etc.
Browse through 10 Tables & 13 Figures spread over 110 Pages and in-depth TOC on”Fast Food Market by Type (Chicken, Burger/Sandwich, Asian/Latin American Food, Pizza/Pasta, Sea-Food and Others) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”.
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Drive-thru facility at fast food joints is expected to drive the market growth further. The sharp rise in adoption of western fast food among the emerging economies is anticipated to reinforce the growth of the fast food market in upcoming years. Rising hectic lifestyle with dual income is anticipated to elicit the demand for fast food in the forecast period. Moreover, growing fondness towards inexpensive food with no waiting time may further prompt the fast food industry growth over the coming years. However, the shift in preference for natural and healthy food owing to the occurrence of obesity in the developed countries may obstruct the growth of the fast food market. Nevertheless, the introduction of healthy food on the fast food menu cards may offer ample opportunities for the fast food market in the forecast period.
The fast food market can be segmented based on types such as chicken, burger/sandwich, Asian/Latin American food, pizza/pasta, seafood, and others. Burger/sandwich emerged as the potent segment in 2015 and is expected to maintain this trend across the forecast period. Easy availability along with the presence of varied flavors is expected to spur the burger/sandwich market in coming years. Pizza/pasta is gaining flame owing to its taste and a wide range of product line. Pizza had footmark its presence worldwide this was mainly due to various outlets of pizza across the globe.
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North America corned the fast food market in 2015 and is expected to maintain its pace in the coming years. This is mainly due to growing drift towards pocket food. Moreover, reluctance for cooking on daily basis has lead to high demand for fast food which is likely to bloom the fast food market in the coming years.
Europe is the second largest market for fast food. Hectic lifestyle inflicts people to prefer quickly accessible food such as pocket sandwiches, burgers among others. In Europe, fast food chains bid local twists on American classics which facilitate the fast food market growth in this region. On the flip side, there has been apparent swing from fast food towards the healthy and natural food may impact on the growth of the fast food market in the coming years. Yet, some of the restaurants in Europe had included healthy fast foods such as salad with dressings and baked fries among others which may provide the fast food market with plentiful prospectus in the near future.
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The Asia Pacific is expected to chunk the major portion of the fast food market pie in the forecast period. Growing number of fast food vendors due to surging demand for western and local fast food stimulates the growth of the market in this region. Asian Food is gaining huge flame across the globe owing to intense flavors and bold taste. Rising dual and discretional income predominantly in India and China is likely to fuel the growth of fast food market. Increasing inclination towards western fast food brands such as McDonald's, KFC, and Dominos, especially in India, is anticipated to splendid the growth of fast food market in this region. The young population is food savvy and adventurous for tasting new products, therefore, the demand for diverse fast food is rising. This aspect is likely to impose vast intensification in the fast food market.
Latin America possesses huge potential for chained development in the forecast period. Latin American food has foothold the market globally owing to diverse flavors and flavorsome which is predicted to thrive the market growth over the years to come. Increasing preference for packed food and ready to eat food has fostered the demand for fast food in Latin America. Blooming Middle East and Africa evident growth in appetite for fast food market owing to improving living standards along with leisurely growing disposable income in this region.
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The existence of various manufacturers including the street food producers in fast food market has generated intense competition among the leading players to primarily focus on research and product development to sustain in this market. McDonald’s Corporation, Yum! Brands Inc., Wendy’s International Inc, Burger King Worldwide Inc, Doctor’s Associates Inc, Jack in the Box Inc, Domino’s Pizza Inc, Dunkin Brands, Dairy Queen, and Papa John’s Pizza.
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This report segments the global fast food market as follows:
Global Fast Food Market: Type Analysis
- Chicken
- Burger/Sandwich
- Asian/Latin American Food
- Pizza/Pasta
- Sea-Food
- Others
Global Fast Food Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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