Fast-Food Market Opportunities Highlight Expansion Potential to 2030
Fast-Food Market: Global Growth and Opportunities
The global Fast-food market is projected to grow from USD 1161.20 billion in 2023 to USD 1755.26 billion by 2030, registering a robust CAGR of 6.08% during the forecast period (2024-2030).
Fast-Food Market Overview:
Fast food refers to quick-to-prepare and readily available meals. Its growing popularity is driven by changing lifestyles, increasing urbanization, and the demand for convenience. With the advent of "takeaway" and "dining on the go," the fast-food industry has experienced significant expansion globally. Diverse cuisines, low costs, and convenience make fast food a staple for consumers worldwide.
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Market Scope:
- Market Size (2023): USD 1161.20 Billion
- Market Size (2030): USD 1755.26 Billion
- CAGR (2024-2030): 6.08%
- Historic Data: 2018-2022
- Base Year: 2023
- Forecast Period: 2024-2030
Segmentation:
- By Product:
- Pizza & Pasta
- Burger & Sandwich
- Latin American Food
- Chicken
- Seafood
- Others
- By End User:
- Full-Service Restaurants
- Quick-Service Restaurants
- Catering
- Others
- Regional Scope:
- North America (United States, Canada, Mexico)
- Europe (UK, France, Germany, Italy, Spain, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, ASEAN, Rest of APAC)
- Middle East and Africa (South Africa, GCC, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Major Manufacturers:
- Auntie Anne’s Franchisor SPV LLC
- Domino’s Pizza, Inc.
- Firehouse Restaurant Group, Inc.
- McDonald’s
- Pizza Hut
- Starbucks
- KFC
- Taco Bell
- Subway
- Burger King
- Chick-Fil-A
- Café Coffee Day
- Hesburger
- Steers
Regional Analysis:
- North America: Dominates the market with a revenue share of USD 337.8 billion in 2021, driven by dual-income households, rising income levels, and changing lifestyles.
- Europe: A global leader in tourism and packaged food consumption, benefiting from increasing reliance on fast-food options.
- Asia Pacific: Expected to grow fastest due to rising disposable incomes, urbanization, and digital food delivery platforms.
- South America, Africa, and the Middle East: Anticipate moderate growth due to developing infrastructure and increasing urbanization.
COVID-19 Impact Analysis:
The pandemic significantly affected the fast-food industry with supply chain disruptions and reduced consumer spending. However, the sector rebounded due to the rising demand for online food deliveries and the expansion of fast-food franchises. Enhanced focus on health-conscious meals also contributed to market recovery post-pandemic.
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Key Questions Answered:
- What are the primary growth drivers for the fast-food market?
- Which segments dominate the market?
- How has the COVID-19 pandemic impacted the fast-food industry?
- What are the key opportunities for stakeholders in the fast-food market?
- Which regions are expected to experience the highest growth?
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