Fast Food Consumption Sees Growth with Increasing Online Food Ordering

San Francisco, California, August 23, 2018 – The global fast food market is anticipated to gather pace in its growth with changing lifestyles and increasing disposable income. In a report by TMR Research, the market is carefully analyzed on the basis of market dynamics, segmentation, and competition. It is titled “Fast Food Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025.” Increasing use of smartphone and convenience provided by ecommerce are expected to improve the consumer preference for online food ordering. Fast food vendors could increase the sales of their products and engage customers with interactive and extended menus.

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Improved expansion, technology supporting DIY functionality, robot-helped delivery, automation, combination offers, purpose-built cuisines, competitive pricing, and high penetration of the internet in developed as well as developing economies. Companies are expected to extend their presence in the market and cash in on new opportunities because of the rise of new trends. The market could be highly competitive, and this trend is expected to continue for the next few years.

On the geographical front, the global fast food market is envisaged to find Asia Pacific and North America growing handsomely owing to high consumption and production in these regions. Collectively, both these regions secure a massive share of the market. Asia Pacific may grow at a higher rate in the market, whereas North America could experience a slack in demand in the coming years. Europe could be another region with slow growth because of the increased emphasis on the production and consumption of home-made and natural foods.

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The global fast food market marks the presence of top players such as McDonald’s Corporation, Jack in the Box Inc., and Wendy’s International Inc. A number of fast food franchises are envisioned to gain success in their business due to ever-rising scale of globalization and other factors.

Fast Food Market to reach US$617.6Bn by 2019 End, Brands increasingly Launching Healthier Options to unlock Promising Avenues

The presence of a copious number of prominent players is what makes the global fast food market intensely competitive and fairly fragmented, finds researchers at Transparency Market Research (TMR). Top players operating in the market include Doctor’s Associates Inc., Yum! Brands Inc., Domino’s Pizza Inc., Wendy’s International Inc., McDonald’s Corp., Jack in the Box Inc., and Burger King Worldwide Inc. TMR observes that the top players are making sizeable investments aimed at introducing advancement in their product portfolio. They are tinkering with innovative flavors and taste in their products and adding more nutrients to attract consumers. A growing number of players are also looking to tap untapped avenues in emerging markets to gain a firm foothold in the regions.

The global fast foods market was valued at US$477.1 billion in 2013 and is projected to rise at a 4.40% CAGR during the forecast period of 2013–2019. Rising at this pace, the market is estimated to be worth US$617.6 billion by 2019 end.

The various types of fast food products are categorized into burger and sandwich, pizza and pasta, chicken, Asian/Latin American fast food, Mexican, sea-foods, and snacks. Of these, the demand for pizza/pasta and burger/sandwich is potentially more attractive than all others. The extensive consumption of these fast foods in developed regions will sustain the rapid CAGR of the segments during the assessment period.

Regionally, Europe and North America have been potential markets for fast food, with the latter taking the lead in 2013. North America is expected to retain its sway through 2019. However, the notably rising appetite for fast food in emerging economies such as China will lead Asia Pacific to gain massive shares in the coming years.

Fast-paced Lifestyle and Transforming Food Habits of Worldwide Consumers drive Demand

The global fast food market has evolved rapidly over the past decade gaining strength from the constantly changing dining habits of people world over residing on the back of hectic lifestyle they are increasingly adopting. The easy availability of fast food and the inclination toward less cooking have inflamed the consumption of fast food among consumers across emerging and developed emerging economies.

Advancement in food delivery technologies and players focused on bringing innovations by experimenting with exotic ingredients augur well for the fast food market. Aggressive promotional activities by top brands have also paid off well in recent years.

Innovative Flavors and Texture might Appeal to Consumer Palates but Health Concerns continue to Impede Demand

The introduction of new flavors, texture, and taste in fast food is substantially catalyzing the growth of the market over the assessment period. However, the market also suffers from some noticeable setbacks. The adverse health effects of ingredients used in fast foods, especially on children, and the purported health concerns their consumption have given rise to in recent years are factors that continue to have adverse impact on the attractiveness of the market.

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Nevertheless, several fast foods companies in recent years are taking measures to make their products more appealing and acceptable among worldwide consumers by making their offerings healthier. For instance, prominent fast food brands are avoiding artificial preservatives and colors, apart from adding more nutrients to their products. This is gathering steam with the palates of young adults and kids and stoked the popularity of fast foods.

Increasing Marketing Activities to Bolster Global Fast Food Market

San Francisco, California, May 24, 2017: A new research report, titled “Fast Food Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” by TMR Research offers a detailed overview of the market. The study highlights the growth prospects of the global fast food market, along with a detailed discussion regarding the limitations and challenges being faced by the leading players operating across the globe. In addition to this, the research report provides a comprehensive study of the competitive landscape and a list of the leading players operating in it.

The rising inclination of consumers to spend on fast food is one of the key factors anticipated to encourage the growth of the global fast food market in the next few years. In addition, the expansion of the product portfolio and the rising focus of key players on advertising and marketing activities are expected to boost the demand for fast food across the globe. However, the rising popularity of home-cooked food due to the increasing health consciousness among consumers is predicted to hamper the growth of the global fast food market in the near future.

Nonetheless, the increasing spending capacity, hectic lifestyle of consumers, and the increasing working women population worldwide are among the major factors that are estimated to accelerate the development of the global fast food market in the coming years. Thanks to these factors, the global market is expected to witness a promising growth in the coming years and is anticipated to offer lucrative opportunities for the leading players operating in the across the globe.

As per the research report, the global market for fast food is expected to witness promising growth throughout the forecast period. North America and Asia Pacific segments, in particular, are anticipated to account for key share of the overall market in the near future, owing to the rising demand for fast food. A significant rise in the consumption of fast food and the rising disposable income of consumers in developing economies are estimated to encourage the growth of these two regions over the next few years. Europe, on the other hand, is predicted to experience a steady growth throughout the forecast period.

The global market for fast food is considered as highly fragmented and competitive in nature. A tremendous rise in the demand for fast food across the globe and the increasing number of players interested in participating in the market is estimated to toughen the competition among the players of the overall market in the next few years. Some of the prominent players operating in the fast food market across the globe are Wendy’s International Inc., Domino’s Pizza Inc., Burger King Worldwide Inc., Yum! Brands Inc., Doctor’s Associates Inc., Jack in the Box Inc., and McDonald’s Corporation.