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Global Fast Food Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019

Report Description

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.

Preview Analysis

Fast food refers to easy to prepare food and its main ingredients are bread, meat, cheese and sauces. It is one of the staple foods in North American people’s diet. Fast food differs from region to region according to local tastes and traditions. However, burger, pizza, sandwich, pasta, noodles and chicken have become universal fast food items. There is a radical change in consumer’s eating patterns and choices in different regions of the world.
 
North American and European consumers are moving towards more healthy and organic fast food. They are concerned about the ingredients being used in their fast food as they look for hormone free meat, organic vegetables, unprocessed cheese and transparency in the operations of fast food chains. In emerging countries, people look for prices, proximity and offers. In the emerging markets such as India and China among others, increasing purchasing power of consumers and growing preference for eating out of the home are expected to fuel the demand for fast food in the next six years. Moreover, greater urbanization, higher disposable income and westernized life style support the demand for fast food in emerging countries. On the other hand, growing health concerns, preference for side dishes such as fruits smoothies, desserts and salads is expected to support the growth of fast food in developed markets such as the U.S and Germany among others. In addition, consumers from these countries prefer portion diets over a heavy bunch of calorie loaded platter.
 
The global Fast Food Market was worth USD 477.1 billion in 2013 and it is expected to reach USD 617.1 billion in 2019. The Fast Food Market is expected to grow at a CAGR of 4.4%from 2013 to 2019 globally. The growth in the market is mainly attributed to growing demand for healthy and convenient fast food.
 
Geographically, North America held the largest market share globally followed by Asia Pacific in 2013. The demand for fast food in these geographies is driven by busy lifestyle of people and their dependence on the convenient restaurant food. There is an increased consumption of fast food in emerging countries of Asia Pacific, Middle East, Africa and Latin America due to higher disposable income, favorable demographics and adoption of western life style in eating patterns. The consumption of fast food is higher in North America compared to other regions. The consumption of fast food is expected to increase in geographies such as Asia Pacific and Rest of the World by 2019. In 2013, Asia Pacific and North America together accounted for more than 64% of the global fast food market.
 
The market size of Pizza/Pasta and Burger/Sandwich are expected to grow at a higher CAGR compared to chicken or Latin American food. However, developed markets are expected to witness the growing trend for chicken and Latin American Food due to its bold and spicy flavors and health benefits.
 
Chained fast food outlets are the most preferred distribution channels and are expected to dominate the distribution share of fast food by 2019.
 
Local fast food chains are flourishing in their respective regions and are expected to capture greater market share due to their unique taste and cost effectiveness. Some of the market leaders across the four geographies 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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