Fast Food Market size to hit USD 1045.01 Bn by 2029 at a CAGR 4.9 percent – says Maximize Market Research

Global Fast Food Market in North America is expected to grow rapidly during the forecast period. Global Fast Food Market analysis has been conducted by dividing the market into two main segments: Product, Distribution Channel. The Fast Food Market size was estimated using a bottom-up approach.

Pune, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research a leading Information Technology & Telecommunication research firm has published a market intelligence report on the Global Fast Food Market. As per the report, the total market opportunity by 2029 is expected to reach USD 1045.01 Bn. The total market was valued at USD 747.64 Bn in 2022 and it is expected to grow at a CAGR of 4.9 percent during the forecast period.

Market Size in 2022USD 747.64 Bn.
Market Size in 2029USD 1045.01 Bn.
CAGR4.9 % (2023-2029)
Forecast Period2023-2029
Base Year2022
Number of Pages288
No. of Tables119
No. of Charts and Figures116
Segment CoveredProduct, Distribution Channel
Regional ScopeNorth America, Europe, Asia Pacific, Middle East and Africa, South America
Report CoverageMarket Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.

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Global Fast Food Market Report Scope and Research Methodology

The research methodology involves a comprehensive study of market, including primary and secondary sources, market surveys, and expert opinions. The report provides market size, growth rate, and forecasted trends, and covers two major fast food segments. The report also provides region wise research of the market. The Report includes an extensive analysis of the global fast-food industry, evaluating key trends, market dynamics, and growth opportunities. It examines market drivers, challenges, and opportunities, along with competitive landscape analysis and regional insights. The research methodology ensured a thorough and accurate assessment of the global fast-food market, aiding stakeholders in making informed decisions.

Fast Food Market Overview

Fast food is a popular and convenient food for homemade meals, characterized by quick preparation, affordability, and accessibility. Food items like burgers, pizzas, fried chicken, fries, pasta, and sandwiches are included in fast food which is also available easily. However, this food does not have as much nutritious value as compared to other food products and dishes still most people prefer to eat. The concerns about health inferences, many people love to eat fast food and it is widely spread globally and has gained popularity due to its convenience and taste.

Fast Food Market Dynamics

Fast food is a food that is considered as empty-calorie food and it defines food with bulk of calories and no or rarer micronutrients. According to the WHO, nearly 40% of the world’s population is overweight and 15% of the population is suffering from obesity in the year 2022. Faster urbanization and globalization are leading to an increasing number of restaurants, hotels, and street vendors and are expected to quicken the growth of the fast-food market. However, there are the majority of fast foods available today are healthy, and when combined with accurate amounts of nutrients and correct ratios, they can help to maintain weight and prevent weight gain. The adoption of products like Pizza, Pasta, Burger, Sandwich, Chicken, Asian/Latin American Food, Seafood, and Others are increasing the demand in the global fast food market.

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Fast Food Market Regional Insights

North America dominated the market in the year 2022 and is expected to dominate the global Fast Food market during the forecast period. This region is witnessed to grow at the highest CAGR of 3.5% in the global Fast Food Market. In North America especially, the U.S. is leading the market as the presence of major key players in the region is coupled with the working population towards fast food. Europe is the second largest market for fast food followed by North America. Asia Pacific also held the largest market share of 60% in the year 2022 as countries such as India and China are presenting huge opportunities for fast food in the coming years. Hence, with the adoption of Western culture, the populations of these regions drive the fast food market.

Fast Food Market Segmentation

By Product

  • Pizza/Pasta
  • Burger/Sandwich
  • Chicken
  • Asian/Latin American Food
  • Sea-Food
  • Others

The global Fast Food market, Product segment is segmented into Burger/Sandwich, Chicken, Pizza/Pasta, Sea-Food, Asian/Latin American Food, and Others. The Asian/Latin American Food segment is expected to gain popularity in the global Fast Food market during the forecast period. Burgers/sandwiches are increasing its demand followed by Asian/Latin American Food and available broad burger options, which include products with protein options like chicken, beef, venison, and several others. Several food-service operators are testing with different fillings of cheese, bacon, onions, etc. to make different combinations.

By Distribution Channel

  • Quick Service Restaurant (QSR)
  • Street Vendors
  • Home delivery
  • Others

The global Fast Food, Distribution Channel segment is segmented into Quick Service Restaurants (QSR), Street Vendors, Home delivery, and others. The Quick Service Restaurant segment has dominated the market and held the largest market share of 43% in the year 2022. Customers favor fast-food restaurants where tables or seating is available. The demand for fast food businesses is growing rapidly as people seek fresh, tasty, flavorful, and appealing meals at a sensible price. Street vendors are also gaining popularity as the fast food market is spreading widely and a variety of dishes are famous according to the locations.

Fast Food Market Key Competitors include:

  • McDonald’s
  • Hardee’s
  • Pizza Hut
  • Domino’s Pizza
  • Burger King
  • KFC
  • Subway
  • Firehouse Subs
  • Auntie Anne’s
  • Wendy’s International
  • Yum! Brands
  • Jack in the Box Inc.
  • Dunkin Brands
  • Dairy Queen
  • Papa John’s Pizza
  • Auntie Anne's INC
  • Cinnabon Franchisor SPV LLC
  • Restaurant Brands International Inc

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Key questions answered in the Global Fast Food Market are:

  • What is the expected CAGR of the Fast Food Market during the forecast period?
  • What was the Fast Food Market Size in 2022?
  • What is the expected Fast Food Market size in 2029?
  • What are the global trends in the Fast Food Market?
  • What are the upcoming industry applications and trends for the Fast Food Market?
  • What recent industry trends can be implemented to generate additional revenue streams for the Fast Food Market?
  • What growth strategies are the players considering to increase their presence in the Fast Food Market?
  • What major challenges could the Fast Food Market face in the future?
  • Who held the largest market share in the Fast Food Market?

Key Offerings:

  • Past Market Size and Competitive Landscape (2017 to 2022)
  • Past Pricing and price curve by region (2017 to 2022)
  • Market Size, Share, Size & Forecast by Different Segment | 2023−2029
  • Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
  • Market Segmentation – A detailed analysis by Type of Electronic Waste, Source of Generation, Collection Methods, Recycling Processes, End-Use Industries, Channel of Disposal, and Stakeholders.
  • Competitive Landscape – Profiles of selected key players by region from a strategic perspective
    • Competitive landscape – Market Leaders, Market Followers, Regional player
    • Competitive benchmarking of key players by region
  • PESTLE Analysis
  • PORTER’s analysis
  • Value chain and supply chain analysis
  • Legal Aspects of business by region
  • Lucrative business opportunities with SWOT analysis
  • Recommendations

Maximize Market Research is leading Food and beverages research firm, has also published the following reports:

Frozen Food Market- The market size is expected to reach USD 4.26 Billion by 2029 at a CAGR of 3.9 percent during the forecast period. North America dominated the Frozen Food Market and is expected to dominate the global market during the forecast period.

Bread Market- The market size is expected to reach USD 276.4 Billion by 2029 at a CAGR of 3.6 percent during the forecast period. The demand for bread is increasing especially, in North America, which is the leading region in terms of consumption and market growth

Fermented Food Market- The market size is expected to reach USD 848.78 Billion by 2029 at a CAGR of 5.7 percent during the forecast period. Asia Pacific held the largest Fermented Food Market share and is expected to continue its dominance over the forecast period.

Pasta Sauce Market- The market size is expected to reach USD 17.52 Billion by 2029 at a CAGR of 7.4 percent during the forecast period. Europe region dominated the Pasta Sauce market in the year 2022 and is expected to hold the largest Pasta Sauce Market share over the forecast period.

Frozen Pizza Market - The market size is expected to reach USD 27.25 Billion by 2029 at a CAGR of 3.35 percent during the forecast period. The North American region is expected to dominate the market and hold the largest growth rate 6.81% in the forecast period.

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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