In our market analysis, we reveal stunning shifts in the industry that employs 3.7 million in the United States. Various books and documentaries have raised the awareness of the population concerning the health risks of consuming fast food. Read More. Vietnam foodservice market was valued at USD 24.62 billion in 2020, and it is projected to witness an estimated CAGR of 8.65% during the forecast period of 2021-2026. Apart from it, they have adopted new channels and styles of marketing. product (Non-vegetarian fast food and Vegetarian fast food) and geographic (North America, APAC, Europe, South America, and MEA). ID:PD000107. DUBLIN--(BUSINESS WIRE)--The "Fast Food Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering. What was at $6 billion in 1970, stands now at above $200 billion. The quick service restaurant industry is projected to rake in more than $200 billion in the United States in 2016, with estimates over the next four years growing that number to more than $220 . Consumers in the region are attracted by the fast food with new flavors, textures, and higher nutrition of the fast food and has led to the growth of the market in the region. September 9, 2016 by Abhijeet Pratap Updated: July 29, 2021. The global fast food market is anticipated to expand at a CAGR of around 4.9% during the forecast period, 2020 - 2026. With an incredible brand value worth, the company rules the restaurant industry regardless of the fierce competition. Thus, the Asian/Latin American food segment was valued $155.5 billion and is expected to grow with a CAGR of 3.4% from 2020 to 2027, to reach $203.6 billion by 2027. Download a free sample of the fast food market forecast report for insights on complete key vendor profiles. The global Fast Food market, which was estimated at 701(USD Billion) in 2019 and is predicted to accrue earnings worth 900 (USD Billion) by 2026, is set to record a CAGR of nearly 4.20% over 2020-2026.The report offers valuation and analysis of Fast Food market on a global as well as regional level. Introduction 7.2.1. Brand-owned online formats and pure-play e-retailers are among the various types of e-commerce portals that offer fast food. Apart from it, packaging regulations have also changed. Globally, the fast-food industry generates annual revenue of above $570 billion. However, competition is now higher than ever. He likes to blog and share his knowledge and research in business management, marketing, literature and other areas with his readers. Found inside – Page iiBy Philip B. Dwoskin , National Economic Analysis Division , Economic Research ... ABSTRACT The U.S. fast food franchise industry , the fastest growing ... Food Services Industry 2021 - Vietnam Market Research & Statistics. public, as the gain in the mass (weight) is found to be directly proportional to the fast food especially in women (Jeffery &French; 1998). Historic volume and value sizes, company and brand market shares. They are mainly prepared in . Fast Food; Tearoom; Industry analysis; Disposable Income; Food Price; Consumer Foodservice in South Africa $ 2100 February 2021. First, it is the competition between the brands. The profiles include information on the production, sustainability, and prospects of the leading companies. From sustainability to waste reduction and human treatment of the animals, this sector has been subject to so many changing laws. Technology will continue to influence fast-food chains deeply. Despite rising health consciousness in society,  the fast-food industry has shown healthy growth over the last several years. November 2019. In the face of the latest crisis that has left many industries including the fast food industry reeling, technology has grown all the more important for businesses in order to sustain themselves during the crisis and ready themselves for the post-crisis scenario. From McDonald’s to Subway, there are hundreds of global and local brands competing for market share. We can help! Description. Copyright © 2007-2021 Infiniti Research Limited. Brands are focusing on attracting and retaining customers. Hygiene, sustainability, and compliance are on the top of the list. Found insideThe book is equal parts theory, research and practice, the result of 7 year journey and a new marketing paradigm for the modern marketer. According to Statista, the QSR industry in the US was worth more than $250 billion in 2018. The social perception of health has changed vastly. The variety of foods available in each sector is primarily driving this market growth. Technological factors are an important force driving the growth of the fast-food industry. Regional Analysis. Despite being conscious of their health, consumers love the flavor. The Porter's Five Forces analysis indicates a high level of competitiveness and a low level of attractiveness for the fast-food business. Global Fast Food Market Analysis and Forecast by Sales Channel 7.1. However, the burger/sandwich segment is expected to grow at the highest rate during the fast food market forecast period. China and Japan are the key markets for fast food market in APAC. The report analyzes the market’s competitive landscape and offers information on several market vendors, including: The fast food market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The Fast Food Market will grow by USD 75.85 bn during 2020-2024 Insights on the Global Fast Food Market 2020-2024: COVID-19 Analysis, Drivers, Restraints, Opportunities, and Threats - Technavio . Found insideA Framework for Assessing Effects of the Food System develops an analytical framework for assessing effects associated with the ways in which food is grown, processed, distributed, marketed, retailed, and consumed in the United States. Found inside – Page 1However, based upon his work and consumers' experiences the author noticed that in the fast food industry there is still a lack of these technologies. Observing some examples from other different industries, which had implemented this ... Technology overall has proved to be something indispensable. To better adjust to the recession and low economic activity, brands included low priced items. Customer service is an important area as brands struggled during the recession to retain customers. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares. Learn where the fast-food industry is heading this year and beyond. The marketing reputation in the fast food industry means losing or gaining customers. Found inside – Page 303778979 An economic analysis of producers ' decisions regarding insect control in stored grain . ... 782002 FAST FOOD RESTAURANTS -- UNITED STATES ... "Final Report will add the analysis of the impact of COVID-19 on this industry." Global Fast Food Market is estimated to reach $850.6 Billion by 2024; growing at a CAGR of 5.5% from 2016 to 2024. Brands Inc. are a few of the key vendors in the fast food market. Khairul Islam 1286 03 Md. Food interest rates, taxation, and consumer spending affect the options and opportunities presented in the food industry. Foodservice Market in Colombia to 2025 - Market Assessment, . In-depth analysis of the Fast Food Market Overview of the regional outlook of the Fast Food Market: Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). In countries where wage rates are higher, the costs of labor are also high. Get lifetime access to ourTechnavio Insights. First, researching the fast food business industry educates you. Fast food brands have become innovative in other areas too. Our analysts can customize this report to meet your requirements. Some other things too cannot be ignored any longer. In the most recent decades, consumers have grown more and more health-conscious. From the title alone, readers develop a clear sense of the author's intention for writing this book. As many consumers are moving to cities for their work and convenience, they are increasingly getting exposed to various cultures and are getting opportunities to try various cuisines. An analysis of the variables that can make or break marketers in the food industry, and a useful lesson on how to distinguish one from another. The U.S. Food and Drug Administration also tightened its rules. After the research and analysis on the fast food industry it is found out that there is a great potential in the fast food industry. Food quality and nutritive value are the major areas affected by the law. Waish Hasan . Detailed segmentation of international and local products. So, brands supplemented it with increased convenience and low costs to encourage customers. Delicious food was insufficient to attract customers. The restaurants integrated technology to improve their level of service. KFC & Global Fast Food Industry - Case Analysis. The fast food industry reputation has become very important due to increased competition and social media appearance. This is also a reason that technology has become important for fast food brands. The restaurants adopted healthier menus. The increasing online presence of fast food vendors is notably driving the fast food market growth, although factors such as health concerns pertaining to the excessive consumption of fast foods may impede market growth. The fast-food sector does not depend only on the attractiveness of its menu and food quality. Mintel's fast food industry reports can help you gain further insight into the fast food market trends and gain valuable fast food consumer data. Found inside – Page 78Fast food was seen as an alien invasion detracting from an essential area of French ... In another area covered by a PEST analysis,2 the legal environment, ... The entire sector changed its approach to marketing and sales. (Photo: Public Domain) Burger King is one of the top competitors in the global quick service/fast-food restaurant market. Globally, the fast-food brands have to comply with these requirements. This book is published open access under a CC BY 4.0 license. Found inside – Page 1JAPAN'S FAST - FOOD INDUSTRY : Export Potential for U.S. Products By Philip B. Dwoskin National Economic Analysis Division Economic Research Service Nick ... Increase in popularity of fast food restaurants, also known as the quick service restaurants (QSRs), boosts the growth of the global fast food market. Health awareness has affected the entire food industry. On the basis of type, the Asian/Latin American food has been the most preferred fast food among consumers, due to its flavors and in gredients added in the products. As a result, it had to adopt measures like showing nutritional content on the label and reducing calories in the items. Its size and presence make it an important part of the industry. Among the emerging economies, China, India, and Brazil dominate in terms of fast food consumption, owing to their large population base and growth in number of QSRs such as McDonalds, Burger King, Wendy's, Subway, and Dunkin' Donuts. The fast-food industry today is gaining a lot of momentum and has seen the rise of many different brands and names. The minimum wage standards can differ from country to country. Description. They increase the variety of products on the menu. A lot of people started working from their homes during Covid-19 and more and more of fast-food customers are ordering from homes or picking orders while driving through due to the pandemic. Since 1970, the U.S. fast-food industry has grown rapidly. He graduated with a Hons. The attitude of governments towards businesses has a definite effect on their performance. This fast food market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Each day, the average preschooler, older Meal Kits (Prepared Meals) Market in Middle East & Africa - . There are so many trends that have influenced the fast-food chains. Sustainability was another important factor to impact the industry globally. For fast-food brands, it is important that they comply with legal changes. Big Data is changing the way the restaurant industry works and thrives. Make sure you stay one step ahead of your competition - Mintel's fast food industry analysis can help you make informed business decisions by providing up-to-the-minute fast food industry intelligence. Dine-in 6.4. A green approach has helped brands enjoy improved customer loyalty. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. Consumers' taste preferences are also influenced by factors such as cultural and ethnic diversity. The industry experienced steady and growing demand from emerging economies The industry's attempts to respond to changes in consumer preferences have also supported revenue growth. 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