Press Release / Business / Fast Food Market Size 2019 to 2023, Share, Trend, Growth, Leading Players Review and Forecast

Fast Food Market Size 2019 to 2023, Share, Trend, Growth, Leading Players Review and Forecast

Fast Food Market Analysis:
The rapid expansion of the middle-class population in various parts of the world has augured well for fast food brands. There is a shift in dietary patterns and food habits, modern consumers seek both time and quality. Food & beverage is among the various sectors that are deeply influenced by the fast-paced lifestyle of modern consumers, especially the millennial population. To work in tandem, fast food brands are aligning themselves with the evolving consumer trends. Today, the fast food sector enjoys widespread popularity worldwide and the future certainly looks promising at this point. Global fast food consumption has grown in leaps and bounds over the years, creating tones of opportunities for fast food brands. Increased discretionary spending and growing preference for convenience food has reflected favorably on the global fast food market. In addition, factors such as increased tourism, recovery of the global economy are also partly driving the global fast food sales. However, rising concerns over onset of diseases such obesity, diabetes and blood pressure due to excessive junk food consumption and its sever health implications in the long-run continues to act as major growth deterrent for the market.
Fast foods are the type of food served by the quick service restaurants or street vendors in minimal duration. They are mainly prepared in large quantities and are served quickly to the customers as per their demand. Different types of fast foods include burger/sandwich, pizza/pasta, chicken & seafood, Asian/Latin American food, and others. The huge variety of food products available under each segment is majorly driving the growth of the market.
The volume of unsaturated fat is significantly high in majority of fast food items, which usually does not go well with health-conscious consumers. Increasing awareness about food ingredient is one of the major consumer trends, many of consumers look for healthy food options, which is prompting fast food chains revise their recipes and menus. Further, many of brands are promoting and advertising their product with healthy and fresh food themes.
Market players are introducing menus that epitomize topics such as natural or organic vegetables, organic ingredients, and use of meat with no added hormone. Such new efforts are likely create new growth avenues for market players in the during the forecast period.
Leading Key Players Review: Some of the top companies mention in MRFR’s report include Wendy’s International Inc., McDonald’s Corporation, Burger King Worldwide Inc., Yum! Brands Inc., Doctor’s Association Inc, Domino’s Pizza Inc. and Jack in the Box Inc.
Latest Industry Trends and News: Philippines base fast food company, Jollibee Foods Corp is set to back a private equity fund, which is preparing to acquire Tim Ho Wan restaurant chain’s Asia Pacific business.
Fast food giant Pizza Hut is reportedly going to continue with its test of delivering beer to over 100 locations in California and Arizona. This move is aligned with it ongoing efforts to compete with Domino’s Pizza.
Segmental Analysis: Based on type, the global market for Fast Food has been segmented into pizza/pasta, Asian/Latin American Food, burger/sandwich, sea-food, chicken, and others. Based on delivery, the market has been segmented into online, take away, dining-in, and others.
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