Dublin, Feb. 12, 2025 (GLOBE NEWSWIRE) — The “Fast Food Market Report 2025” has been added to ResearchAndMarkets.com’s offering.
The fast food market size has grown steadily in recent years. It will grow from $645.2 billion in 2024 to $663.92 billion in 2025 at a compound annual growth rate (CAGR) of 2.9%. The growth in the historic period can be attributed to change in consumer preferences and lifestyles, rapid urbanization, globalization, increased demand for convenience foods, rise in working population.
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 fast food market size is expected to see strong growth in the next few years. It will grow to $833.43 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to rising consumer expenditure on food, rapid industrialization, rise in young population, rise in disposable income, economic growth. Major trends in the forecast period include plant-based options, ghost kitchens, contactless ordering and payment, menu customization, healthier menu options.
The growing demand for plant-based proteins is a key factor significantly contributing to the expansion of the fast-food market. For example, in April 2023, the Good Food Institute, a US-based non-profit organization, reported that global retail sales of plant-based meat and seafood in 2022 reached $6.1 billion, reflecting an 8% growth in revenue and a 5% increase in volume. Additionally, global sales of plant-based milk, cheese, and yogurt hit $21.6 billion, showing a 7% rise compared to the previous year. Thus, the increasing demand for plant-based proteins is driving growth in the fast-food market.
Anticipated growth in the food service industry is poised to further propel the fast-food market. In 2022, the U.S. restaurant industry achieved $898 billion in sales, reflecting a notable increase of $166.5 billion compared to 2021. This upward trajectory in the food service industry continues to be a major force driving the fast-food market’s expansion.
A prominent trend shaping the fast-food market is the advancement in online food delivery services. Major players in the industry are continually innovating to enhance the online food delivery experience for consumers. In February 2022, KFC, a leading U.S.-based fast-food restaurant company, introduced Wing, Australia’s first on-demand drone delivery service. Collaborating with Collins Food Limited, KFC Australia’s largest corporate franchise partner, the initiative involves the creation of a cloud kitchen dedicated to preparing KFC’s chicken in advance for swift drone deliveries. This novel approach exemplifies the industry’s commitment to leveraging technology for the ultimate convenience of customers.
Major players in the fast-food market are embracing strategic partnerships to introduce innovative technologies, particularly in automating voice ordering processes at drive-thru locations. An example of this trend is evident in the partnership forged in May 2023 between CKE Restaurants Holdings, a prominent U.S.-based fast-food corporation, and technology companies Presto Automation, OpenCity, and Valyant AI. Through this collaboration, the companies aim to enhance accuracy, speed, and revenue generation, addressing challenges related to staffing shortages. The implementation of AI technology, exemplified by Presto Voice, enables automated voice ordering at CKE drive-thru locations nationwide, contributing to improved service speed, order accuracy, and upselling capabilities.
In May 2024, Burger King, a US-based fast food chain, acquired Carrols Restaurant Group for an undisclosed sum. The purpose of this acquisition is to integrate and improve Burger King locations as part of its Reclaim the Flame plan, with the ultimate goal of reimagining and refranchising the restaurants to enhance brand growth and profitability. Carrols Restaurant Group is a US-based franchisee company that specializes in operating fast food restaurants.
Research Scope
Markets Covered:
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
Key Companies Profiled: Auntie Anne’s Inc.; Cinnabon Franchisor SPV LLC; Domino’s Pizza Inc.; Dunkin’ Brands Group Inc.; Hardee’s Restaurants LLC
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2025-2029 |
| Estimated Market Value (USD) in 2025 | $663.92 Billion |
| Forecasted Market Value (USD) by 2029 | $833.43 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Companies Featured in this Fast Food Market Report
- 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.
For more information about this report visit https://www.researchandmarkets.com/r/3k0x6j
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