Fast Food Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Fast Food Market
The fast food market size was valued at USD 862.05 billion in 2020, and the market is now projected to grow from USD 972.74 billion in 2021 to USD 1,467.04 billion by 2028, exhibiting a CAGR of 6.05% during the forecast period of 2021-2028.
The lockdowns for food services trade during COVID-19 pandemic has slowed down the fast food market growth. The supply chain disruptions had a devastating effect on the food business. QSRs and pubs were closed for on-premise services, and many establishments are still stressed to keep their businesses on track. Consumers visited restaurants only to pick up orders made online due to the social distancing restriction. Foot traffic to fast food and casual dining restaurants decreased since the start of staying at home efforts. However, the food delivery services saw a major shift in attention. While online ordering is becoming the popular choice, the market is expected to show recovery.
The fast food market share globally has been augmented because of the changing consumer behavior and higher expenditure on food. The increasing family income and the development of households with two or more members in most regions have enhanced demand for the services. The rapid expansion of range food service outlets is gaining recognition in developed and developing markets around the world. Growing foreign investment, increase in household incomes, expanding millennial population base, growing tourism, and shifting consumption habits of consumers are also benefiting the growth of the sector.
The trend is growing ordering for different cuisines online is adding motivation to the market progress. Consumers are migrating from traditional ordering methods to digital options since it is simple, error-free, rapid, and fully transparent. In addition, the vigorous franchise business model enables large-scale company operators to grow up their influence into new markets. It can be done by combining international demand for online meal ordering with globalization prospective.
Comprehensive Analysis of Fast Food Market
The fast food market and food & beverages industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the food & beverages industry. These segmentations are methodically segregated by product type and service types. The product types comprise burger & sandwich, pizza & pasta, Asian & Latin America foods, and others. However, the service types are such as on-premise and deliver & takeaway.
The North American region is conducive to the global fast food market, leading to a recall of USD 337.8 billion due to the increase in dual-working households, increasing household earnings levels, and fast development of the food business.
The top players in the market play a crucial role in the food & beverages industry assuring industrial prospectus growth and setting market standards. These players include McDonald’s (Minnesota, U.S.), Burger King (Florida, U.S.), Domino's (Michigan, U.S.), Pizza Hut (Texas, U.S.), Papa John's International, Inc. (Kentucky, U.S.), Little Caesars (Michigan, U.S.), Chipotle Mexican Grill (California, U.S.), Dunkin (Massachusetts, U.S.), Wendy’s (Ohio, U.S.), and Wallace, Fujian Food Co., Ltd. (Fujian, China), these market players provide a level-playing competitive landscape.
In October 2021, plant-based impossible nuggets and the nationwide LTO release of ghost pepper nuggets helped Burger Kings to expand its menu in the U.S.
Segmentation Table
Global Fast Food Market Scope
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Estimated Year
2021
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD Billion)
Segmentation
By Product Type
Burger & Sandwich
Pizza & Pastas
Asian & Latin American Food
Others
By Service Type
On-Premise
Delivery & Take Away
By Geography
North America (By Product Type, Service Type, and Country)
- U.S. (By Product Type)
- Canada (By Product Type)
- Mexico (By Product Type)
- France (By Product Type)
- Spain (By Product Type)
- U.K. (By Product Type)
- Italy (By Product Type)
- Germany (By Product Type)
- Rest of Europe (By Product Type)
- China (By Product Type)
- India (By Product Type)
- Japan (By Product Type)
- South Korea (By Product Type)
- Australia (By Product Type)
- Rest of Asia Pacific (By Product Type)
- Argentina (By Product Type)
- Brazil (By Product Type)
- Rest of South America (By Product Type)
- Saudi Arabia (By Product Type)
- South Africa (By Product Type)
- Rest of the Middle East & Africa (By Product Type)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Overview of the Parent/Related Markets
- 4.2. Regulatory Analysis
- 4.3. Supply Chain Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, and Mergers & Acquisitions
- 4.5. Qualitative Analysis Related to COVID-19
- 4.5.1. Impact of COVID-19 on the Market
- 4.5.2. Supply Chain Challenges amidst Pandemic
- 4.5.3. Potential Opportunities due to this Global Crisis
- 5. Global Fast Food Market Analysis, Insights and Forecast, 2017-2028
- 5.1. Key Findings / Summary
- 5.2. Market Size Estimates and Forecast
- 5.2.1. By Product Type
- 5.2.1.1. Burger & sandwich
- 5.2.1.2. Pizza & Pasta
- 5.2.1.3. Asian & Latin American Food
- 5.2.1.4. Others
- 5.2.2. By Service Type
- 5.2.2.1. On-Premise
- 5.2.2.2. Delivery & Take Away
- 5.2.3. By Region
- 5.2.3.1. North America
- 5.2.3.2. Europe
- 5.2.3.3. Asia Pacific
- 5.2.3.4. South America
- 5.2.3.5. Middle East & Africa
- 6. North America Fast Food Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Burger & sandwich
- 6.2.1.2. Pizza & Pasta
- 6.2.1.3. Asian & Latin American Food
- 6.2.1.4. Others
- 6.2.2. By Service Type
- 6.2.2.1. On-Premise
- 6.2.2.2. Delivery & Take Away
- 6.2.3. By Country (Value)
- 6.2.3.1. U.S.
- 6.2.3.1.1. By Product Type
- 6.2.3.1.1.1. Burger & Sandwich
- 6.2.3.1.1.2. Pizza & Pasta
- 6.2.3.1.1.3. Asian & Latin American Food
- 6.2.3.1.1.4. Others
- 6.2.3.2. Canada
- 6.2.3.2.1. By Product Type
- 6.2.3.2.1.1. Burger & Sandwich
- 6.2.3.2.1.2. Pizza & Pasta
- 6.2.3.2.1.3. Asian & Latin American Food
- 6.2.3.2.1.4. Others
- 6.2.3.3. Mexico
- 6.2.3.3.1. By Product Type
- 6.2.3.3.1.1. Burger & Sandwich
- 6.2.3.3.1.2. Pizza & Pasta
- 6.2.3.3.1.3. Asian & Latin American Food
- 6.2.3.3.1.4. Others
- 7. Europe Fast Food Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Product Type
- 7.2.1.1. Burger & sandwich
- 7.2.1.2. Pizza & Pasta
- 7.2.1.3. Asian & Latin American Food
- 7.2.1.4. Others
- 7.2.2. By Service Type
- 7.2.2.1. On-Premise
- 7.2.2.2. Delivery & Take Away
- 7.2.3. By Country (Value)
- 7.2.3.1. Germany
- 7.2.3.1.1. By Product Type
- 7.2.3.1.1.1. Burger & Sandwich
- 7.2.3.1.1.2. Pizza & Pasta
- 7.2.3.1.1.3. Asian & Latin American Food
- 7.2.3.1.1.4. Others
- 7.2.3.2. France
- 7.2.3.2.1. By Product Type
- 7.2.3.2.1.1. Burger & Sandwich
- 7.2.3.2.1.2. Pizza & Pasta
- 7.2.3.2.1.3. Asian & Latin American Food
- 7.2.3.2.1.4. Others
- 7.2.3.3. Italy
- 7.2.3.3.1. By Product Type
- 7.2.3.3.1.1. Burger & Sandwich
- 7.2.3.3.1.2. Pizza & Pasta
- 7.2.3.3.1.3. Asian & Latin American Food
- 7.2.3.3.1.4. Others
- 7.2.3.4. U.K.
- 7.2.3.4.1. By Product Type
- 7.2.3.4.1.1. Burger & Sandwich
- 7.2.3.4.1.2. Pizza & Pasta
- 7.2.3.4.1.3. Asian & Latin American Food
- 7.2.3.4.1.4. Others
- 7.2.3.5. Spain
- 7.2.3.5.1. By Product Type
- 7.2.3.5.1.1. Burger & Sandwich
- 7.2.3.5.1.2. Pizza & Pasta
- 7.2.3.5.1.3. Asian & Latin American Food
- 7.2.3.5.1.4. Others
- 7.2.3.6. Rest of Europe
- 7.2.3.6.1. By Product Type
- 7.2.3.6.1.1. Burger & Sandwich
- 7.2.3.6.1.2. Pizza & Pasta
- 7.2.3.6.1.3. Asian & Latin American Food
- 7.2.3.6.1.4. Others
- 8. Asia Pacific Fast Food Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Product Type
- 8.2.1.1. Burger & sandwich
- 8.2.1.2. Pizza & Pasta
- 8.2.1.3. Asian & Latin American Food
- 8.2.1.4. Others
- 8.2.2. By Service Type
- 8.2.2.1. On-Premise
- 8.2.2.2. Delivery & Take Away
- 8.2.3. By Country (Value)
- 8.2.3.1. China
- 8.2.3.1.1. By Product Type
- 8.2.3.1.1.1. Burger & Sandwich
- 8.2.3.1.1.2. Pizza & Pasta
- 8.2.3.1.1.3. Asian & Latin American Food
- 8.2.3.1.1.4. Others
- 8.2.3.2. India
- 8.2.3.2.1. By Product Type
- 8.2.3.2.1.1. Burger & Sandwich
- 8.2.3.2.1.2. Pizza & Pasta
- 8.2.3.2.1.3. Asian & Latin American Food
- 8.2.3.2.1.4. Others
- 8.2.3.3. Japan
- 8.2.3.3.1. By Product Type
- 8.2.3.3.1.1. Burger & Sandwich
- 8.2.3.3.1.2. Pizza & Pasta
- 8.2.3.3.1.3. Asian & Latin American Food
- 8.2.3.3.1.4. Others
- 8.2.3.4. South Korea
- 8.2.3.4.1. By Product Type
- 8.2.3.4.1.1. Burger & Sandwich
- 8.2.3.4.1.2. Pizza & Pasta
- 8.2.3.4.1.3. Asian & Latin American Food
- 8.2.3.4.1.4. Others
- 8.2.3.5. Australia
- 8.2.3.5.1. By Product Type
- 8.2.3.5.1.1. Burger & Sandwich
- 8.2.3.5.1.2. Pizza & Pasta
- 8.2.3.5.1.3. Asian & Latin American Food
- 8.2.3.5.1.4. Others
- 8.2.3.6. Rest of Asia Pacific
- 8.2.3.6.1. By Product Type
- 8.2.3.6.1.1. Burger & Sandwich
- 8.2.3.6.1.2. Pizza & Pasta
- 8.2.3.6.1.3. Asian & Latin American Food
- 8.2.3.6.1.4. Others
- 9. South America Fast Food Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Product Type
- 9.2.1.1. Burger & sandwich
- 9.2.1.2. Pizza & Pasta
- 9.2.1.3. Asian & Latin American Food
- 9.2.1.4. Others
- 9.2.2. By Service Type
- 9.2.2.1. On-Premise
- 9.2.2.2. Delivery & Take Away
- 9.2.3. By Country (Value)
- 9.2.3.1. Brazil
- 9.2.3.1.1. By Product Type
- 9.2.3.1.1.1. Burger & Sandwich
- 9.2.3.1.1.2. Pizza & Pasta
- 9.2.3.1.1.3. Asian & Latin American Food
- 9.2.3.1.1.4. Others
- 9.2.3.2. Argentina
- 9.2.3.2.1. By Product Type
- 9.2.3.2.1.1. Burger & Sandwich
- 9.2.3.2.1.2. Pizza & Pasta
- 9.2.3.2.1.3. Asian & Latin American Food
- 9.2.3.2.1.4. Others
- 9.2.3.3. Rest of South America
- 9.2.3.3.1. By Product Type
- 9.2.3.3.1.1. Burger & Sandwich
- 9.2.3.3.1.2. Pizza & Pasta
- 9.2.3.3.1.3. Asian & Latin American Food
- 9.2.3.3.1.4. Others
- 10. Middle East & Africa Fast Food Market Analysis, Insights and Forecast, 2017-2028
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Product Type
- 10.2.1.1. Burger & sandwich
- 10.2.1.2. Pizza & Pasta
- 10.2.1.3. Asian & Latin American Food
- 10.2.1.4. Others
- 10.2.2. By Service Type
- 10.2.2.1. On-Premise
- 10.2.2.2. Delivery & Take Away
- 10.2.3. By Country (Value)
- 10.2.3.1. South Africa
- 10.2.3.1.1. By Product Type
- 10.2.3.1.1.1. Burger & Sandwich
- 10.2.3.1.1.2. Pizza & Pasta
- 10.2.3.1.1.3. Asian & Latin American Food
- 10.2.3.1.1.4. Others
- 10.2.3.2. Saudi Arabia
- 10.2.3.2.1. By Product Type
- 10.2.3.2.1.1. Burger & Sandwich
- 10.2.3.2.1.2. Pizza & Pasta
- 10.2.3.2.1.3. Asian & Latin American Food
- 10.2.3.2.1.4. Others
- 10.2.3.3. Rest of Middle East & Africa
- 10.2.3.3.1. By Product Type
- 10.2.3.3.1.1. Burger & Sandwich
- 10.2.3.3.1.2. Pizza & Pasta
- 10.2.3.3.1.3. Asian & Latin American Food
- 10.2.3.3.1.4. Others
- 11. Competitive Matrix
- 11.1. Business Strategies Adopted by Leading Players
- 11.2. Global Fast Food Market revenue Share/Ranking Analysis, By Key Manufacturer, 2020
- 12. Company Profiles
- 12.1. McDonald's
- 12.1.1. Overview
- 12.1.2. Description
- 12.1.3. Product Portfolio
- 12.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.1.5. Recent Developments
- 12.2. Burger King
- 12.2.1. Overview
- 12.2.2. Description
- 12.2.3. Product Portfolio
- 12.2.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.5. Recent Developments
- 12.3. Wendy's
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Domino's
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. Pizza Hut
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Papa John's
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. Little Caesars
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. Chipotle Mexican Grill
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Dunkin
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Wallace, Fujian Food Co., Ltd.,.
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 13. Appendix
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