Fast food market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

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Feb 03, 2023, 09:30 ET

NEW YORK, Feb. 3, 2023 /PRNewswire/ -- According to Technavio, the global fast food market size is estimated to grow by USD 123.43 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 3.28%. Moreover, the growth momentum will accelerate. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 629.78 billion. APAC will account for 34% of the market's growth during the forecast period. Technavio report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on the market, request a sample report

Technavio has announced its latest market research report titled Global Fast Food Market 2023-2027

Global fast food market - Five forces
The global fast food market is fragmented, and the five forces analysis covers–

Bargaining power of buyers
The threat of new entrants
Threat of rivalry
Bargaining power of suppliers
Threat of substitutes
For an interpretation of Porter's five forces model – buy the report!

Global fast food market – Customer landscape

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global fast food market - Segmentation assessment

Segment overview
Technavio has segmented the market based on the product (non-vegetarian fast food and vegetarian fast food) and service type (eat-in, take away, home delivery, and others).

The non-vegetarian fast food segment will account for a significant share of the market's growth during the forecast period. The popularity of non-vegetarian fast food products is increasing among the working population. Some of the popular on-the-go fast food products are non-vegetarian wraps, burgers, sandwiches, and pops. Various fast food outlets are focusing on offering innovative items on their non-vegetarian menus to attract consumers. Such efforts by vendors have contributed to the growth of the segment.

Geography overview
Based on geography, the global fast food market is segmented into North America, APAC, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global fast food market.

APAC is estimated to account for 34% of the growth of the global market during the forecast period. The rate of employment and income levels is increasing in the region owing to changing lifestyles. Moreover, rapid urbanization is increasing the dependency on fast food. Therefore, the demand for convenient food options is increasing. China, Japan, and India are the key countries in the regional market. In addition, global players are expanding their footprint in the region. These factors are expected to contribute to the growth of the market in APAC during the forecast period

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Global fast food market – Market dynamics
Key factor driving market growth

The increasing online presence of fast food vendors is driving the fast food market growth.
The increasing penetration of smartphones and the rising accessibility of the Internet are promoting the sales of fast food online.
E-commerce enables customers to compare various fast food product varieties and types.
The sale of fast food products online enables vendors to reduce their overhead costs by eliminating the need to rent or lease retail premises and hire workers.
Therefore, the increasing online presence of fast food vendors will fuel the market growth during the forecast period

Leading trends influencing the market

The growing number of fast-food outlets is a key trend in the market.
The number of food service outlets has increased owing to the influx of people into urban areas and a large white-collar demographic segment.
Varied tastes and preferences for different types of food and beverages have further led to the emergence of fast-food outlets and QSRs.
In addition, the growing popularity of malls and shopping centers has encouraged many new players to invest in the distribution of fast food.
Many major fast food outlets are setting up franchises in developing countries such as India and China.
Thus, the growing number of stores and retail outlets is expected to support the growth of the market during the forecast period.

Major challenges hindering the market growth

Health concerns caused by excessive consumption of fast foods may impede the fast food market growth.
Fast food contains a high number of calories and very few micronutrients.
Moreover, the consumption of fast food can lead to various health issues such as obesity and diabetes.
Thus, the rising occurrence of health issues caused by fast food has made consumers more conscious about the food items that they consume.
These factors are likely to restrain the market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find more insights in a sample report!

What are the key data covered in this fast food market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the fast food market between 2023 and 2027
Precise estimation of the size of the fast food market and its contribution to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the fast food market across North America, APAC, Europe, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of fast food market vendors

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Fast Food Market Scope
Report Coverage	Details
Page number	170
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 3.28%
Market growth 2023-2027	USD 123.43 billion
Market structure	Fragmented
YoY growth 2022-2023 (%)	2.6
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 34%
Key countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading vendors, market positioning of vendors, competitive strategies, and industry risks
Key companies profiled	American Dairy Queen Corp., Chipotle Mexican Grill Inc., Corporativo Bimbo SA de CV, Domino's Pizza Inc., Doughnut Time Ltd., Focus Brands LLC, Glory Hole Doughnuts, Inspire Brands Inc., JAB Holding Co. Sarl, Jack in the Box Inc., Jimmy Johns Franchisor SPV LLC, McDonald Corp., Papa John's International Inc., Penn Station Inc., Pita Pit Ltd., Restaurant Brands International Inc., Starbucks Corp., The Subway Group, The Wendy's Co., and YUM Brands Inc.
Market dynamics	Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio's consumer discretionary market reprts

Table of contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
Exhibit 06: Executive Summary – Chart on Market Segmentation by Service Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global fast food market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global fast food market 2017 - 2021 ($ billion)

4.2 Product Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

4.3 Service Type Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Service Type Segment 2017 - 2021 ($ billion)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

6.1 Market segments

Exhibit 30: Chart on Product - Market share 2022-2027 (%)
Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

6.2 Comparison by Product

Exhibit 32: Chart on Comparison by Product
Exhibit 33: Data Table on Comparison by Product

6.3 Non-vegetarian fast food - Market size and forecast 2022-2027

Exhibit 34: Chart on Non-vegetarian fast food - Market size and forecast 2022-2027 ($ billion)
Exhibit 35: Data Table on Non-vegetarian fast food - Market size and forecast 2022-2027 ($ billion)
Exhibit 36: Chart on Non-vegetarian fast food - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Non-vegetarian fast food - Year-over-year growth 2022-2027 (%)

6.4 Vegetarian fast food - Market size and forecast 2022-2027

Exhibit 38: Chart on Vegetarian fast food - Market size and forecast 2022-2027 ($ billion)
Exhibit 39: Data Table on Vegetarian fast food - Market size and forecast 2022-2027 ($ billion)
Exhibit 40: Chart on Vegetarian fast food - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on Vegetarian fast food - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Product

Exhibit 42: Market opportunity by Product ($ billion)

7 Market Segmentation by Service Type

7.1 Market segments

Exhibit 43: Chart on Service Type - Market share 2022-2027 (%)
Exhibit 44: Data Table on Service Type - Market share 2022-2027 (%)

7.2 Comparison by Service Type

Exhibit 45: Chart on Comparison by Service Type
Exhibit 46: Data Table on Comparison by Service Type

7.3 Eat-in - Market size and forecast 2022-2027

Exhibit 47: Chart on Eat-in - Market size and forecast 2022-2027 ($ billion)
Exhibit 48: Data Table on Eat-in - Market size and forecast 2022-2027 ($ billion)
Exhibit 49: Chart on Eat-in - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Eat-in - Year-over-year growth 2022-2027 (%)

7.4 Take away - Market size and forecast 2022-2027

Exhibit 51: Chart on Take away - Market size and forecast 2022-2027 ($ billion)
Exhibit 52: Data Table on Take away - Market size and forecast 2022-2027 ($ billion)
Exhibit 53: Chart on Take away - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Take away - Year-over-year growth 2022-2027 (%)

7.5 Home delivery - Market size and forecast 2022-2027

Exhibit 55: Chart on Home delivery - Market size and forecast 2022-2027 ($ billion)
Exhibit 56: Data Table on Home delivery - Market size and forecast 2022-2027 ($ billion)
Exhibit 57: Chart on Home delivery - Year-over-year growth 2022-2027 (%)
Exhibit 58: Data Table on Home delivery - Year-over-year growth 2022-2027 (%)

7.6 Others - Market size and forecast 2022-2027

Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ billion)
Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

7.7 Market opportunity by Service Type

Exhibit 63: Market opportunity by Service Type ($ billion)

8 Customer Landscape

8.1 Customer landscape overview

Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 65: Chart on Market share by geography 2022-2027 (%)
Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 67: Chart on Geographic comparison
Exhibit 68: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2022-2027

Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.4 APAC - Market size and forecast 2022-2027

Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.5 Europe - Market size and forecast 2022-2027

Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.6 South America - Market size and forecast 2022-2027

Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.7 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 China - Market size and forecast 2022-2027

Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ billion)
Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ billion)
Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

9.10 Japan - Market size and forecast 2022-2027

Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.11 Germany - Market size and forecast 2022-2027

Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.12 UK - Market size and forecast 2022-2027

Exhibit 105: Chart on UK - Market size and forecast 2022-2027 ($ billion)
Exhibit 106: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
Exhibit 107: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 108: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 109: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

Exhibit 110: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 112: Overview on factors of disruption

11.4 Industry risks

Exhibit 113: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered

Exhibit 114: Vendors covered

12.2 Market positioning of vendors

Exhibit 115: Matrix on vendor position and classification

12.3 American Dairy Queen Corp.

Exhibit 116: American Dairy Queen Corp. - Overview
Exhibit 117: American Dairy Queen Corp. - Product / Service
Exhibit 118: American Dairy Queen Corp. - Key offerings

12.4 Corporativo Bimbo SA de CV

Exhibit 119: Corporativo Bimbo SA de CV - Overview
Exhibit 120: Corporativo Bimbo SA de CV - Business segments
Exhibit 121: Corporativo Bimbo SA de CV - Key news
Exhibit 122: Corporativo Bimbo SA de CV - Key offerings
Exhibit 123: Corporativo Bimbo SA de CV - Segment focus

12.5 Domino's Pizza Inc.

Exhibit 124: Domino's Pizza Inc. - Overview
Exhibit 125: Domino's Pizza Inc. - Business segments
Exhibit 126: Domino's Pizza Inc. - Key news
Exhibit 127: Domino's Pizza Inc. - Key offerings
Exhibit 128: Domino's Pizza Inc. - Segment focus

12.6 Doughnut Time Ltd.

Exhibit 129: Doughnut Time Ltd. - Overview
Exhibit 130: Doughnut Time Ltd. - Product / Service
Exhibit 131: Doughnut Time Ltd. - Key offerings

12.7 Focus Brands LLC

Exhibit 132: Focus Brands LLC - Overview
Exhibit 133: Focus Brands LLC - Product / Service
Exhibit 134: Focus Brands LLC - Key offerings

12.8 Glory Hole Doughnuts

Exhibit 135: Glory Hole Doughnuts - Overview
Exhibit 136: Glory Hole Doughnuts - Product / Service
Exhibit 137: Glory Hole Doughnuts - Key offerings

12.9 Inspire Brands Inc.

Exhibit 138: Inspire Brands Inc. - Overview
Exhibit 139: Inspire Brands Inc. - Product / Service
Exhibit 140: Inspire Brands Inc. - Key offerings

12.10 JAB Holding Co. Sarl

Exhibit 141: JAB Holding Co. Sarl - Overview
Exhibit 142: JAB Holding Co. Sarl - Product / Service
Exhibit 143: JAB Holding Co. Sarl - Key news
Exhibit 144: JAB Holding Co. Sarl - Key offerings

12.11 McDonald Corp.

Exhibit 145: McDonald Corp. - Overview
Exhibit 146: McDonald Corp. - Business segments
Exhibit 147: McDonald Corp. - Key news
Exhibit 148: McDonald Corp. - Key offerings
Exhibit 149: McDonald Corp. - Segment focus

12.12 Papa John's International Inc.

Exhibit 150: Papa John's International Inc. - Overview
Exhibit 151: Papa John's International Inc. - Business segments
Exhibit 152: Papa John's International Inc. - Key offerings
Exhibit 153: Papa John's International Inc. - Segment focus

12.13 Restaurant Brands International Inc.

Exhibit 154: Restaurant Brands International Inc. - Overview
Exhibit 155: Restaurant Brands International Inc. - Business segments
Exhibit 156: Restaurant Brands International Inc. - Key news
Exhibit 157: Restaurant Brands International Inc. - Key offerings
Exhibit 158: Restaurant Brands International Inc. - Segment focus

12.14 Starbucks Corp.

Exhibit 159: Starbucks Corp. - Overview
Exhibit 160: Starbucks Corp. - Business segments
Exhibit 161: Starbucks Corp. - Key news
Exhibit 162: Starbucks Corp. - Key offerings
Exhibit 163: Starbucks Corp. - Segment focus

12.15 The Subway Group

Exhibit 164: The Subway Group - Overview
Exhibit 165: The Subway Group - Product / Service
Exhibit 166: The Subway Group - Key offerings

12.16 The Wendy's Co.

Exhibit 167: The Wendy's Co. - Overview
Exhibit 168: The Wendy's Co. - Business segments
Exhibit 169: The Wendy's Co. - Key offerings
Exhibit 170: The Wendy's Co. - Segment focus

12.17 YUM Brands Inc.

Exhibit 171: YUM Brands Inc. - Overview
Exhibit 172: YUM Brands Inc. - Business segments
Exhibit 173: YUM Brands Inc. - Key news
Exhibit 174: YUM Brands Inc. - Key offerings
Exhibit 175: YUM Brands Inc. - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

Exhibit 176: Inclusions checklist
Exhibit 177: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 178: Currency conversion rates for US$

13.4 Research methodology

Exhibit 179: Research methodology
Exhibit 180: Validation techniques employed for market sizing
Exhibit 181: Information sources

13.5 List of abbreviations

Exhibit 182: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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