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 growing white-collar demographic segment. Additionally, the popularity of socializing at fast food restaurants among urban youth and the diverse tastes and preferences for various food and beverage offerings have fueled the emergence of new outlets and quick service restaurants (QSRs). Notable players in this market include Krispy Kreme Doughnuts and Dunkin Brands Group Inc. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Non-vegetarian fast food
  • Vegetarian fast food
• Service Type
  • Eat-in
  • Take away
  • Home delivery
  • Others
• Geography
  • North America
    • Mexico
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • South America
    • Brazil
  • Middle East and Africa

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 convenience foods and on-the-go snacks due to lockdown restrictions and busy lifestyles. Full-service restaurants are adapting to pick-up orders and food delivery services to cater to consumers. Labor restraints have led to the rise of cloud kitchen businesses and meal kits. Urbanization and snacking habits have boosted the popularity of fast food franchises, coffee shops, food carts, and online ordering through digital platforms like Menulog. Consumer spending on healthy foods is also on the rise, making it essential for fast food outlets to offer healthier options.

Market Research Overview

The convenience food and on-the-go snack segments have experienced significant growth in the current business landscape, driven by lockdown restrictions and the need for quick, convenient meals. In the context of the global hospitality industry, the market encompasses companies operating in casinos and gaming, hotels, resorts, and cruise lines, as well as leisure facilities and restaurants. According to Technavio, market expansion will be fueled by the expanding travel and tourism sector, which continues to attract a substantial number of travelers from both emerging and developed economies each year. Full-service restaurants have adapted to this trend by offering pick-up orders and food delivery services to cater to the evolving consumer preferences.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/