Global Fast Food Market 2018-2022
About Fast Food
Fast food is food that is prepared and served quickly. It is mainly consumed at sit-down restaurants, take-out, drive-thru and delivery.
Technavio’s analysts forecast the global fast food market to grow at a CAGR of 5.16 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global fast food market for 2018-2022. To calculate the market size, the report considers the revenue generated from sales of various types of fast food such as vegetarian fast food and nonvegetarian fast food.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fast Food Market 2018-2022
Technavio recognizes the following companies as the key players in the global fast food market: Domino's, McDonald's, Papa John's International, Restaurant Brands International, Starbucks Corporation, Subway, and Yum! Brands.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increase in product launches. Owing to the emergence of multinational cultural groups in various regions, the demand for multiple cuisines is also increasing. Considering this, many fast food operators started introducing various cuisines in their menu. They focus on introducing fast food items depending on the consumer's taste and preferences. The introduction of new products is highly necessary to keep up with the demand and therefore, new product introduction plays a major role in the sales of fast foods.”
According to the report, one of the major drivers for this market is Increasing women employment rate. The number of working women is increasing across countries, mainly attributable to the increase in the educated population base. Due to the increasing number of employed women and owing to their busy lifestyle, it is becoming increasingly difficult for women to devote time to cook. As such, the demand for fast foods is increasing. Consumers are now moving away from conventional food habits and are welcoming the habit of eating fast food, primarily because of their convenience in terms of on-the-go consumption.
Further, the report states that one of the major factors hindering the growth of this market is Health concerns pertaining to the excessive consumption of fast foods. There are various concerns regarding the health impacts of consuming fast food. The consumption of fast food may lead to various health issues such as obesity, diabetes, and others. The number of obese people in the world is increasing year-over-year because of changing food habits and lifestyles. According to the World Health Organization (WHO), there were around 671 million obese adults in the world in 2016.
Domino's, McDonald's, Papa John's International, Restaurant Brands International, Starbucks Corporation, Subway, and Yum! Brands.
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