Latest News- Fast Food Market: Non-vegetarian fast food is expected to lead the Product segment during 2025-2029

The Fast Food Market is being driven by Increasing online presence of fast food vendors

The Fast Food Market is expected to grow at a CAGR of 3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 119.6 billion. The fast food market in the US experienced significant growth between 2022 and 2023, with the number of outlets increasing from 197,163 to 201,865. This expansion can be attributed to several factors, including the rising urban population and the increasing preference for fast food among white-collar demographics. Additionally, the diverse taste preferences of consumers have led to the emergence of various fast food and quick service restaurant (QSR) chains, such as Krispy Kreme Doughnuts and Dunkin Brands Group Inc. The cultural trend of socializing at fast food restaurants, particularly among the urban youth, has further fueled this growth. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on segments_for_ai.nslist

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing online presence of fast food vendors
• Changing consumer preferences
• Growing demand for fast-casual food

However, the market also witnesses some limitations, which are as follows:

• Health concerns pertaining to the excessive consumption of fast foods
• Rising demand for homemade food
• Rising competition from unorganized fast food sector

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Market Scope in Fast Food Market Research Report

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Research Analysis Overview

In the current scenario, fast food market is witnessing a shift towards convenience with an increase in demand for on-the-go snacks and convenience foods. Lockdown restrictions have led to a surge in pick-up orders and food delivery services from full-service restaurants, fast food franchises, coffee shops, food carts, and even cloud kitchens. Labor restraints have pushed the industry towards digital platforms for online ordering. Consumer spending on healthy foods is also on the rise, with meal kits gaining popularity. Urbanization and snacking habits are further driving the growth of the fast food market. Menulog and other food delivery services are thriving in this scenario, offering a wide range of options to cater to diverse consumer preferences.

Market Research Overview

The convenience foods and on-the-go snacks segment within the fast food market is experiencing significant growth due to lockdown restrictions and the increasing preference for contactless consumption. Full-service restaurants are adapting to this trend by offering pick-up orders and food delivery services through online platforms. The global hotels, resorts, and cruise lines industry, which encompasses companies in casinos and gaming, hotels, resorts and cruise lines, leisure facilities, and restaurants, is projected to expand. This growth is driven by the thriving travel and tourism sector, with increasing numbers of tourists from both emerging and developed economies. Technavio's market analysis calculates the industry's size based on the combined revenue generated by these sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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