Fast Food Market Analysis

Product Type (Burger & Sandwich, Pizza, Asian Food, Latin American, Fried Chicken, Seafood, Others)

The burger & sandwich segment is predicted to gather the highest market share of over USD 300 billion by the end of 2037. This segment expansion can be impelled by the growing consumption of burgers & sandwiches. For instance, Americans consume more than 50 billion burgers per year. Moreover, plant-based or vegan burgers have gained popularity in recent years owing to the growing wave of veganism, adding to the segment’s growth. However, in the case of sandwiches, the preference for chicken-based is forecasted to rise. Hence, various burger and sandwich retailers are making efforts to provide various options to consumers considering their preference for taste, health, and social responsibility.

Additionally, the pizza segment is also augmented to experience growth in the market in the upcoming years. This growth of the segment is foreseen to be dominated by growing automation. This has further influenced the higher production of pizza, eliminating the need for extra labor as a consequence reducing the production cost.

Service Type (Full-Service Restaurants, Quick Service Restaurants, Street Vendors, Delivery Services)

The quick-service restaurants segment is set to gather the highest fast food market share of over 40% during the forecast timeframe. The major element to dominate the growth of the segment is rising digital innovations which have additionally encouraged the integration of digital advertisement. Furthermore, self-order kiosk installment has also grown in numerous restaurants. This technology has an easy-to-use interface which might further satisfy consumer expectations for quick delivery.

Young customers mostly prefer food that is delivered quickly, which is why the demand for quick-service restaurants is growing. Since, the outbreak of COVID-19, the importance of cloud kitchens has surged. Cloud kitchen drives quick delivery along with off-premise dining. Furthermore, this can be operated at a minimum setup, with limited staff, and cost. Thus, it offers significant cost savings benefits.

Our in-depth analysis of the global market includes the following segments: