Press release
Fast-Food Market is to grow at a 4.9 % CAGR, with the United States leading the market through 2030
Fast-Food Market
The Global Fast-Food Market was USD 784.24 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 4.9 % from 2023 to 2030, reaching USD 1096.22 Bn by 2030. The fast-food industry has grown as a result of the increased number of hotels and restaurants brought about by rapid urbanization. In order to accommodate a wide range of customer tastes, fast-food businesses are increasingly providing personalized menu alternatives. The market has grown as a result of aggressive marketing tactics and localized customizations that have increased its popularity. About 216,000 fast-food restaurants are open in the United States as of 2025, representing a CAGR of 2.0% between 2020 and 2025.
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Global Fast Food Market Segmentation
By Product: In 2021, the burger/sandwich segment generated over 42% of the worldwide fast-food market's revenue. Pizza/Pasta, Chicken, Asian/Latin American Food, and Seafood are the segments that dominate the fast-food market.
By Distribution Channel: The main reasons QSRs dominate the fast-food market are their price, quickness, and convenience. Drive-Thru segment gained prominence in the regions like North America. Full-Service Restaurants segment is comparatively smaller than that of QSR. Food trucks offer a range of fast-food alternatives at various places with their mobile food services.
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Global Fast Food Market Regional Analysis
In the United States, the fast-food sector was worth over $490 billion with a CAGR of 3.9 % in 2023 and made a substantial contribution to the worldwide fast-food market. The fast-food industry in the United States is dominated by Quick Service Restaurants (QSRs), with Taco Bell, Wendy's, Burger King, and McDonald's at the forefront. The growth of food delivery businesses such as GrubHub, DoorDash, and Uber Eats drives the market.
Europe, with a market share of about 38.94% in 2023, is another sizable market for fast food. From 2023 to 2030, the European fast-food industry is anticipated to expand at a compound annual growth rate (CAGR) of 3.3%. Burgers and fish & chips are popular in the UK and France, but pizza and pasta are more common in nations like Italy and Spain.
China, in 2023, the fast-food market in China is projected to grow to a size of RMB 3,687.8 billion, or around US$536.33 billion, with a CAGR of 6.2 %. KFC held a 5.5% market share in 2022, making it the market leader in China for limited-service restaurants. Market value of China is reaching twice that of the US market, which is projected to reach over US$45 billion in 2023.
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Global Fast Food Market Competitive Landscape
McDonald's Corporation: In October 2024, for $430.3 million, CITIC Ltd agreed to sell its 19.23% share in the business that runs McDonald's restaurants in China and Hong Kong. In November 2023, McDonald's consented to buy Carlyle's minority ownership of 28% in China, Hong Kong, and Macau.
Yum! Brands Inc.: Yum! Brands acquired The Habit Restaurants, Inc. for $375 million. In 2021, Yum! Brands purchased the Australian business Dragontail Systems for $93.5 million.
Burger King: Burger King merged with Tim Hortons for around $11.4 billion. Popeyes Louisiana Kitchen was acquired by Burger King's parent company, Restaurant Brands International (RBI), for about $1.8 billion.
Conclusion
♦ Market dominance may be threatened by changes in customer tastes, environmental concerns, and competitive dynamics; thus, businesses must continue to be flexible.
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