Global Fast Food Market was valued US$ 550.1 Bn in 2019 and is expected to reach US$ 799.01 Bn by 2027, at a CAGR of 4.78 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Fast Food Market Dynamics:
Fast food can be defined as a substitute to home-made meals which can be prepared quickly, easily accessible, and served. Although this food has not as much of nutrition value as compared to other food products and dishes. Typically, fast food is sold in a restaurant or store with precooked or preheated ingredients, and served to the customer in a wrapped form for take away or drive through. These foods are high in sodium, sugar, and fat, which may cause health-related problems, and obesity. Moreover, fast food is also considered as empty calorie food which defines food with bulk of calories and no or rarer micronutrients. This rise in concern resulted in people switching from fast food to fast casual food. According to WHO, around 40% of the world population were overweight and 15% of the population was suffering from obesity, in 2019.Hectic lifestyle of consumers and rising corporate culture have increased the acceptance of fast food globally.
On the basis of service type, the market is segmented into eat-in, take away, drive through, home delivery, and others. Among them, the home delivery segment is growing at a significant rate, due to various facilities and ease added by manufacturers, followed by the preference of consumers towards use of doorstep delivery facility.
Continuous product launches by the manufacturers offering a wide range of pasta products are one of the factors uplifting the growth of the market. Moreover, the key players are highly focusing on ecological expansions, which will surge the growth of the global pasta market. Introduction of accurate flavors in the product range is attracting customers towards the market.
The report comprises extensive primary research, along with the in-depth analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders; it helps the decision maker gain a deeper insight into the market and industry performance. The report gives a clear picture of the current market scenario, including historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market.
Geographically, the global fast food market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa and South America. North America is leading the fast food market followed by Europe. In North America, the U.S. is leading the market due to the occurrence of major key players in the region coupled with a high inclination of working population towards fast foods. However, emerging markets such as China and India are showing huge opportunity for the fast food market in the coming years. Changing lifestyle and adoption of western cultures among the population of these regions is mainly driving the growth of the market.
Adoption of cross-cultural food is also supporting the growth of the fast food market in other regions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Fast Food Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Fast Food Market.
Global Fast Food Market, Key Highlights:
• Global Fast Food Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Fast Food Market
• Global Fast Food Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Fast Food Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Fast Food Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Fast Food Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Scope of Global Fast Food Market: Inquire before buying
Global Fast Food Market, By Product Type
• Asian/Latin American Food
Global Fast Food Market, By Distribution Channel
• Quick Service Restaurant (QSR)
• Street Vendors
• Home delivery
Global Fast Food Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Fast Food Market Key Player
• Pizza Hut
• Domino’s Pizza
• Burger King
• Firehouse Subs
• Auntie Anne’s
• Wendy’s International
• Yum! Brands
• Jack in the Box Inc.
• Dunkin Brands
• Dairy Queen
• Papa John’s Pizza
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