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.
Albany, NY -- (SBWIRE) -- 07/28/2016 -- 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.
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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.
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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.
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.
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