July 16, 2024

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Fast Food Market Will Accelerate at 2% CAGR and Register Over $ 75 Billion Growth During 2020-2024 | Technavio

Fast Food Market Will Accelerate at 2% CAGR and Register Over $ 75 Billion Growth During 2020-2024 | Technavio

Technavio has been monitoring the fast food market and it is poised to grow by USD 75.85 billion during 2020-2024, progressing at a CAGR of over 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Fast Food Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Fast Food Market 2020-2024 (Graphic: Business Wire)

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the fast food market. The market growth in 2020 is likely to decrease compared to the market growth in 2019.

Frequently Asked Questions:

  • Based on segmentation by product, which is the leading segment in the market?

    The non-vegetarian fast food segment led the market in 2019.
  • What are the major trends in the market?

    An increase in the number of fast food outlets and the expansion to various regions is the major trend in the market.
  • At what rate is the market projected to grow?

    The market is projected to grow at a CAGR of over 2% during the forecast period.
  • Who are the top players in the market?

    American Dairy Queen Corp., Doctors Associates LLC, McDonald Corp., Restaurant Brands International Inc., Starbucks Corp., The Wendys Co., and YUM! Brands Inc. are the top players in the market.
  • What are the key market drivers and challenges?

    The market is driven by the increasing online presence of fast food vendors. However, health concerns pertaining to the excessive consumption of fast foods might challenge growth.
  • How big is the APAC market?

    APAC accounted for 40% of the global market share in 2019.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. American Dairy Queen Corp., Doctors Associates LLC, McDonald Corp., Restaurant Brands International Inc., Starbucks Corp., The Wendys Co., and YUM! Brands Inc. are some of the major market participants. Although the increasing online presence of fast food vendors will offer immense growth opportunities, health concerns pertaining to the excessive consumption of fast foods are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this fast food market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Fast Food Market 2020-2024: Segmentation

Fast Food Market is segmented as below:

  • Product

    • Non-vegetarian Fast Food
    • Vegetarian Fast Food
  • Geography

    • North America
    • APAC
    • Europe
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR45866

Fast Food Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The fast food market report covers the following areas:

  • Fast Food Market Size
  • Fast Food Market Trends
  • Fast Food Market Industry Analysis

This study identifies the increase in the number of fast food outlets and the expansion to various regions as one of the prime reasons driving the Fast Food Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Fast Food Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist fast food market growth during the next five years
  • Estimation of the fast food market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the fast food market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of fast food market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Fiver forces analysis
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Non-vegetarian fast food – Market size and forecast 2019-2024
  • Vegetarian fast food – Market size and forecast 2019-2024
  • Impact of COVID-19 pandemic on the market
  • Market opportunity by Product

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • American Dairy Queen Corp.
  • Doctors Associates LLC
  • Domino’s Pizza Inc.
  • Dunkin’ Brands Group Inc.
  • McDonald Corp.
  • Papa John’s International Inc.
  • Restaurant Brands International Inc.
  • Starbucks Corp.
  • The Wendys Co.
  • YUM! Brands Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations 

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.