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Global Fast Food Market: Snapshot

The global fast food market has gained traction and demonstrated resistance even in the time of recession to grow as one of the leading drivers responsible for the worldwide rise of the consumer foodservice sector. Finding its roots in North America, fast food is mainly accepted based on its quick availability and taste factor. The global vendors have successfully managed to reach out to new consumers through product innovations, quick-fire international expansion, and upgrades in dining experience. With colossal investments by giant operators, the worldwide market is expected to exhibit dominance for more years to come.

Transparency Market Research (TMR) predicts the global fast food market to rise to US$617.1 bn by 2019 at a moderate CAGR. The radical change in food preference and eating habits and surging demand for healthy and convenient fast foods have promised sturdy growth for the market.

Pizza/Pasta and Burger/Sandwich Ride over Chicken and Latin American Food

One of the key parameters that the global fast food market is categorized on is product type. Out of all the different forms of fast food, the burger/sandwich and pizza/pasta segments are projected to inflate their market size at a sweeping CAGR. This growth of the aforementioned giant segments is calculated to shy away the markets for chicken and Latin American food. However, with the coveted health boons and bold and spicy flavors offered, these fast food markets are foreseen to climb on a growing trend in the developed regions. The other critical segments of the global market by type are sea-food, snacks, and Mexican.

If the types of delivery chain are considered, the classification of the international fast food market follows as quick service restaurants (QSR) and street vendors. In terms of distribution channel, local fast food chains are foretold to take advantage of their cost-effectiveness and unique taste to thrive significantly in their respective regions with a greater market share. By the end of the forecast period, chained fast food outlets are envisaged to take hold of a dominant share in the global market while emerging as the most preferred distribution channel.

Asia Pacific and Other Emerging Regions Run Toward a Brighter Future

North America and Europe as the conventional markets for fast food have clasped a stupendous market share in the recent past, owing to heavy dependence on convenience owing to a busy lifestyle and high demand for convenient restaurant food. Moreover, the healthy changes in fast food menus and introduction of unprocessed cheese, organic vegetables, hormone-free meat, and natural ingredients have contributed toward the maturation of these markets. Such brilliant transformations with changing fast food preferences of consumers and the transparency in fast food chain operations have proved to be significant for growth.

Nevertheless, emerging regions such as Asia Pacific, the Middle East and Africa, and Latin America are poised to seize the fast food market at a rapid pace in the near future. Favorable demographics, increasing disposable income and purchasing power, greater urbanization, and fast adoption of the Western lifestyle have substantially made the future brighter for the developing markets. With the preference for offers, proximity, and easy prices, the developing regions have proposed a change in the global market.

Howbeit, North America still dominates the global market with more number of fast food consumers than the other regions. North America and Asia Pacific had collectively dominated the market with a share of over 60.0% in the past.

The list of the prominent players in the global fast food market incorporates Wendy’s International Inc., Doctor’s Association Inc., Burger King Worldwide Inc., Jack in the Box Inc., Yum! Brands Inc., Domino’s Pizza Inc., and McDonald’s Corporation.

Fast food refers to food that can be prepared and served in shortest time. The demand and trend of fast food differs from region to region. The roots of fast food come from America where people eat out frequently. Food-on-the-go and drive-thru is a common concept in North American Market whereas people in European nations take time and prefer having conversations while eating. Fast food chains and regional Quick Service Restaurants have customized their format and menu offering according to various regions as people preferences and taste differ from place to place. Asia Pacific and Rest of the World is the fastest growing market due to its huge population and favorable demographics. Higher disposable income and inclination towards westernized food habits are some of the driving factors for rapid growth of fast food market in these economies.
The fast food market is a volume business. It is characterized by high turnover and comparatively low profit margins. However, with strategic selection of store location, labor cost, inventory management, choices of menu and promotional strategies, the profitability of the fast food restaurants would increase over the forecast period. Moreover, high real estate cost and labor cost in developed markets are of major concern in profitability of the fast food business.   There is a cutthroat competition in the developed markets with large number of fast food players operating to cater to a smaller population. All the multinational fast food companies are eyeing on the developing markets in Asia Pacific & Latin America. Perhaps, it is important to expand judiciously and steadily as many of the global fast food companies have to face losses due to unplanned and rapid expansions. A long term sustainable strategy has to be adopted for continuous and healthy growth worldwide.
This report has been segmented by type and by geography. It also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the fast food market. The study highlights current market trends and provides the forecast from 2013 to 2019.
By geography, the market has been segmented into North America, Europe, Asia Pacific and RoW. The present market size and forecast till 2019 have been provided in the report.
The report also analyzes macro-economic factors influencing and inhibiting the growth of fast food market. Porter’s five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help manufacturers, suppliers and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
The global Fast Food market here refers to the market by type, by distribution channel and by geography. The market is categorized into the following segments:
Global Fast Food Market by Type
The different types of Fast Food covered under this research study are defined as follows:
  • Burger/Sandwich
  • Pizza/Pasta
  • Chicken
  • Asian/Latin American Food
  • Sea-Food
  • Others (Snacks, Mexican etc)
Global Fast Food Market by Type
  • Quick Service Restaurant (QSR)
  • Street Vendors
  • Others
Global Fast Food Market by Geography
The different geographies covered under this research study are defined as follows:
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
It also includes detailed profiles of the major players in this market with attributes such as product portfolio, strategy, SWOT analysis and recent developments. Some of the major players in the Fast Food market are McDonald’s Corporation, Yum! Brands Inc., Dominos Pizza Inc., Doctor’s Association Inc, Burger King Worldwide Inc., and Wendy’s International Inc. and Jack in the Box Inc. among others.

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Global Fast Food Market

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