Fast food is a type of mass-produced food designed for commercial resale and with a strong priority placed on speed of service versus other relevant factors involved in culinary science, such as quality of food and healthy nutrients. Fast food was created as a commercial strategy to accommodate the larger employees, travelers, and wage workers who often did not have the time to sit down to wait for a meal. The fast-food industry had its beginnings around the mid-twentieth century with the first fish and chip shops in Britain in the 1860s. Drive-through restaurants were first popularized in the 1950s in the United States. The term "fast food" was first used in a dictionary by Merriam-Webster in 1951. The fast food sector comprises hamburger, chicken, pizza and other food outlets, coffee, pastry and ice cream shops, ethnic food outlets as well as home delivery services for some of these. Many are franchised to international food chains. Fast food has been related to certain health issues, such as obesity, high cholesterol, and depression. Many fast foods tend to be high in saturated fat, sugar, salt, and calories. The United States has 32.7% of the fast food market share worldwide. You can find Fast Food Market Size, Fast Food Market Share, and other trends and statistics below and you can learn more about T4's strategy consulting services here.
The chart shows the Fast Food Market Size over a forecast period from 2016 to 2022. In 2020, the size of the Fast Food Industry was $636B and is projected to grow 4% in 2021. From 2016 to 2022 the Fast Food Industry CAGR is projected to average 4% per year. Fast Food Market Share is dominated quite heavily by McDonalds´s. These estimates were made before the Coronavirus (COVID-19) pandemic. The short term impact of COVID-19 on the Fast Food market growth will likely be High because Social Distancing policies involve the temporary closing of fast food restaurant stores, with the only possibilities of working being delivery options, drive-through, and take away. The long term impact of COVID-19 on the Fast Food market growth beyond the COVID-19 pandemic will likely be High because Social activities, such as going out for food will take a long time to restore to previous levels, and will require the use of protocols to maintain social distancing indoors. Request help with obtaining the source for this data and learn more about T4's strategy consulting services here.
The chart shows Fast Food Market Share in 2019. The Fast Food Market is Highly Fragmented among many vendors. The leading brand in the Fast Food Restaurants Industry was McDonald's with 21.4% market share in 2018, followed by Starbucks with 7.52% Fast Food market share, KFC with 2.82% Fast Food market share, Subway with 2.8%, Domino's Pizza with 1.57%, Pizza Hut with 1.24%, Burger King with 1.16%, Tim Hortons with 1.09%, Chipotle with 1.02%. Get help with market research for the Fast Food market, including the source for this Fast Food Market Share chart and learn more about T4's strategy consulting services here.
The fast food global market growth is driven by the expansion of the working populace, which is reliant on fast food, the ability of the market to adapt to new consumer´s habits, such as healthier and sustainable options, including vegetarian and vegan menu options, and the expansion of the service by delivery options. The fast food market growth is mainly related to the workforce looking for easy, cheap, and fast options. However, fast food providers will have to adapt to new eating habits, mainly related to healthier options and adding vegetarian / vegan options for consumers. The market will have to adapt to sustainable packaging and expand the business with the incorporation of new delivery options. The growth of the fast food market has the challenge of adapting to new food trends while maintaining affordable prices.
Learn about T4's Consulting servicesFast Food is a Mature market composed of a few large competitors and many small competitors. McDonald's market share was 21.4% of the Fast Food market in 2018. McDonald's has a strong focus on customer service, response to competition, and the use of marketing techniques early on in their development. Starbucks market share was 7.5% of the market in Fast Food. Starbucks has 29,324 stores worldwide in 72 countries, from which 14,000 of the total are located in the US. Starbucks conducts over 90 million transactions per week. Starbucks market share in the US Coffee Market is 40%. KFC market share was 2.82% of the Fast Food market in 2018. KFC is a subsidiary of Yum! Brands, one of the largest restaurant companies in the world, which also owns Taco Bell and Pizza Hut. There are 22,600 KFC outlets in 135 countries around the world. Ninety-nine percent of the units are franchised. KFC market share is the largest in China, with 12% of the total fast food market. Subway market share was 2.8% of the Fast Food market in 2018. Subway market share is the largest in terms of the amount of worldwide locations. Subway has more than 42,000 restaurants in over 100 countries. Burger King Market share is 1.2% of the total Market. Tim Hortons Market share is 1.1% of the total Market. Chipotle Market share is 1% of the total Market. Qdoba Market share, Wendy's market share, Dunkin' Donuts market share, and Quiznos market share are not significant at a worldwide scale.
T4's research team can help you learn more about the Fast Food industry with market analysis, competitive landscape analysis, commercial Due Diligence, and other market research needs. This includes deeper analysis on key players in the Fast Food market, including: McDonalds, Starbucks, KFC, Subway, Domino's Pizza, Pizza Hut, Burger King, Tim Hortons, Chipotle, Taco Bell, Quiznos, Wendy's, Qdoba, Dunkin´Donuts; research into related topics such as Food Delivery, Online Food Delivery, Full Service Restaurant, Food Delivery Apps, Fast Food Brands; or additional support in the Fast Food Sector or other Sectors. Learn more about T4's strategy consulting services here.
