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Fast Food Market Size is estimated to reach $745.8 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.8% over the forecast period of 2022-2027.
HYDERABAD, TELANGANA, INDIA, October 31, 2022 / / -- IndustryARC, in its latest report, predicts that the Size is estimated to reach $745.8 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.8% over the forecast period of 2022-2027. Fast Food is defined as the food that is prepared and served at quick service restaurants or street vendors. Fast Food is typically high in sugar, salt, and saturated fat or trans fats. Fast Food is an example of a convenient food that can be enjoyed anywhere, at any time. As a result of majority of customers' busy lifestyles, Fast Food products are estimated to rise in terms of volume sales. The popularity of Fast Food restaurants, sometimes known as quick service restaurants, is increasing (QSRs). They are prepared in huge quantities and served to customers promptly based on their requirements. Burger, sandwiches, pizza, spaghetti, fried chicken, seafood and other types of junk food are among the quick foods available.
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Key Takeaways:
This IndustryARC report on the Fast Food market highlights the following areas -
1. Geographically, North America held the largest market share in 2021, owing to the highest fast food consumption attributed to a busy lifestyle and high disposable income.
2. The popularity of international cuisines has soared in recent years all throughout the world. The rapid rate of globalisation, combined with strong demand from emerging markets such as India and Brazil, is providing large brands with multiple economic options.
3. Factors such as high restaurant setup costs and a shift in Fast Food consumers' health consciousness toward quick casual cuisines are projected to stifle the Fast Food market growth throughout the forecast period.
4. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Fast Food Market Report.
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Segmental Analysis:
Fast Food Market Segmentation Analysis - By Product Type : Fast Food based on product type can be further segmented into Pizza & Pasta, Burger & Sandwich, Chicken, Asian & Latin American Food, Seafood, Others. Burger & Sandwich Food held a dominant Fast Food market share in a year 2021 owing to the growing consumption of burgers and sandwiches.
Fast Food Segmentation Analysis - By End User : Fast Food based on end user can be further segmented into Full-service Restaurants, Quick-service Restaurants, Catering, Others. Quick-service Restaurants held a dominant Fast Food market share in a year 2021. To meet the increased demand of customers, quick service restaurants produce processed food in bulk.
Fast Food Segmentation Analysis by Geography : The Fast Food based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant Fast Food market share of 30% in the year 2021. The Fast Food market is growing owing to an increase in consumer expenditure on Fast Food in the region.
Competitive Landscape:
The top 5 players in the Fast Food industry are -
1. Domino's Pizza, Inc.
2. CKE Restaurants Holdings, Inc.
3. Firehouse Restaurant Group, Inc.
4. Jack in the Box, Inc.
5. McDonald's
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