Press release
Fast Food Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share
Fast Food Market
The surge in demand for plant-based proteins has a substantial impact on the growth of the fast-food industry. These proteins, derived from plant sources such as legumes, grains, nuts, seeds, and vegetables, are viewed as a viable and sustainable substitute to proteins from animal sources. This growing desire for plant-based proteins is driven by increased consumer understanding of their health advantages, concerns about environmental sustainability, animal welfare ethical matters, and the rising appeal of vegan and flexitarian dietary plans. By introducing plant-based protein options like veggie burgers and nuggets in their menus, fast food outlets are responding to the increasing demand for healthier, non-meat alternatives. As stated by the Good Food Institute, a non-profit organization in the US, in April 2023, global retail sales of plant-based meat and seafood totaled $6.1 billion in 2022, reflecting an 8% revenue growth and a 5% increase in weight. Moreover, the aggregate sales of plant-based milk, cheese, and yogurt stood at $21.6 billion globally, reporting a 7% increase from the prior year. Therefore, the rise in demand for plant-based proteins is propelling the expansion of the fast-food industry.
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What Is the projected market size and growth rate for the fast food market?
The size of the fast food market has experienced steady growth in the past few years. It is projected to escalate from $645.2 billion in 2024 to approximately $663.92 billion in 2025, indicating a compound annual growth rate (CAGR) of 2.9%. Reasons for growth during the previous period include shifts in consumer inclinations and ways of life, swift urbanization and globalization, an augment in demand for easy-to-prepare foods, and an upturn in the working populace.
In the coming years, the fast food market is predicted to witness significant expansion, reaching a value of $833.43 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 5.8%. This projected growth during the forecast period can be traced back to various factors, such as increased consumer spending on food, fast-paced industrialization, growing younger demographics, an increase in disposable income, and economic development. Noteworthy trends that are likely to emerge during the forecast period include the introduction of plant-based alternatives, the rise of ghost kitchens, advancements in contactless ordering and payment systems, personalized menu options, and a shift towards healthier menu choices.
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What new trends are reshaping the fast food market and its opportunities?
A new significant trend gaining traction in the fast-food market is the innovative developments in online food delivery. Major players in the fast-food industry are creating novel methods to enhance the customers' experience of online food delivery. For instance, KFC, an American fast-food restaurant corporation, introduced Wing, Australia's pioneering on-demand drone delivery service, in February 2022. A cloud kitchen, set up in partnership with KFC Australia's largest corporate franchise associate, Collins Food Limited, will pre-make KFC's chicken for drone delivery, providing ultimate convenience and quick delivery to customers.
What major market segments define the scope and growth of the fast food market?
The fast food market covered in this report is segmented -
1) By Service Type: On-Premise, Delivery And Take Away
2) By Product: Seafood, Latin American Food, Chicken, Sandwich, Burger, Pasta, Other Products
3) By End-User: Quick-Service Restaurants, Fast-Casual Restaurants, Other End-Users
Subsegments:
1) By On-Premise: Dine-In Service, Drive-Thru Service
2) By Delivery And Take Away: Third-Party Delivery Services, In-House Delivery, Pre-Packaged Takeaway, Custom Order Takeaway
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Which region dominates the fast food market?
North America was the largest region in the fast-food market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fast food market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the fast food industry growth?
Major companies operating in the fast food market include Auntie Anne's Inc., Cinnabon Franchisor SPV LLC, Domino's Pizza Inc., Dunkin' Brands Group Inc., Hardee's Restaurants LLC, Jack in the Box Inc., McDonald's Corporation, Restaurant Brands International Inc., Yum! Brands Inc., Doctor's Associates Inc., CKE Restaurants Holdings Inc., Inspire Brands Inc., Chipotle Mexican Grill Inc., Subway SA, Kentucky Fried Chicken, Burger King Holdings, Pizza Hut Inc., Taco Bell IP Holder LLC, International Dairy Queen Inc., Arby's Restaurant Group Inc., Jimmy John's LLC, Papa John's International Inc., Little Caesar Enterprises Inc., Sonic Drive-In Corp., Five Guys Enterprises LLC, Chick-fil-A Inc., Popeyes Louisiana Kitchen Inc., Bojangles OpCo LLC., Whataburger Restaurants LLC, In-N-Out Burger Inc., White Castle Corp., Checkers Drive-In Restaurants Inc.
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What Is Covered In The Fast Food Global Market Report?
•Market Size Forecast: Examine the fast food market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the fast food market for a structured understanding.
•Key Players Overview: Analyze major players in the fast food market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the fast food market.
•Segment Contributions: Evaluate how different segments drive overall growth in the fast food market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the fast food market.
•Industry Challenges: Identify potential risks and obstacles affecting the fast food market.
•Competitive Landscape: Review strategic developments in the fast food market, including expansions, agreements, and new product launches.
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