Changing Eating Habits to Trigger the Demand for Global Fast Food Market During the Forecast Period (2018-2023)
Market Scenario
The global fast food market is presumed to register a healthy CAGR during the forecast period (2018–2023) owing to the range of mouthwatering options available to the population, asserts Market Research Future (MRFR). Food prepared and served quickly are referred to as fast food. Fast food is mainly prepared and consume at sit-down restaurants, drive-thru, take-out, and delivery. They are generally prepared in large quantities and are served to the customers as per their demand.
Drivers and Constraints Impacting the Market
Different types of fast food items available in the market comprise pizza, pasta, sandwich, burger, chicken, seafood, Asian food, Latin American food items, and others. The availability of huge variety of food items under each segment is augmenting the market growth. The market is rapidly flourishing with the increase in the number of working population who are highly dependent on fast food due to their busy schedule. With changing lifestyle and changing eating habits, the market is presumed to fuel in the coming years. Moreover, increasing per capita disposable income and growing urbanization has influenced the market positively. Market players also try to strengthen their reach to their customers by acquisition which further augments the market growth.
On the flip side, increase health-conscious population is considered to be a major constraint to the growth of the market. Also, the growing regulation associated with animal welfare and food safety are acting as restraining factors.
To get more info: https://www.marketresearchfuture.com/press-release/fast-food-market
Global Fast Food Market: Segmental Analysis
The global fast food market has been segmented on the basis of type, service type, and region.
By mode of type, the global fast food market has been segmented into pizza/pasta, burger/sandwich, Asian/Latin American food, chicken & seafood, and others. Among these, the burger and sandwich segment is presumed to hold the major share owing to the growing consumption of burgers among the consumers.
By mode of service type, the global fast food market has been segmented into take away, eat-in, home delivery, drive through, and others. Among these, the home delivery segment is expanding at a significant rate due to several facilities and ease added by the manufacturers. Also, the doorstep delivery facility triggers the demand for home delivery services across the globe.
Regional Insights
Geographically, the fast food market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
Among all the regions, the North American region is presumed to dominate the global market during the review period. The United States is considered to push the market in this region owing to the presence of major players along with inclination of working population towards fast food.
The Asia Pacific region is considered to be the fastest-growing region and is expected to maintain its dominance during the review period. The growth is attributed to the changing lifestyle coupled with improved standard of living in the developing countries such as China and India.
Industry Updates
November 07, 2018: Investors are showing considerable interest in fast food outlets that are offering higher yields and long leases, according to agents. The attention will turn to the strong western Sydney market at the final Burgess Rawson investment portfolio auction of the year which is to be held on December 4.
Competitive Dashboard
The noteworthy players operating the global fast food market are Doctor’s Association Inc. (U.S.), Wendy’s International Inc. (U.S.), McDonald’s Corporation (U.S.), Domino’s Pizza Inc. (U.S.), Jack in the Box Inc. (U.S.), Yum! Brands Inc. (U.S.), and Burger King Worldwide Inc. (U.S.).
