(Statista, 2021) The restaurant industry's share of the food dollar in the United States is 51%. 8. Industry Analysis. Most fast-food restaurants specialize in a few main dishes. After 5 years the industry could somewhat capture the market share of traditional foods by . THE RESTAURANT & FAST FOOD INDUSTRY ANALYSIS OF THE PIZZA CHAIN SECTOR THE RESTAURANT INDUSTRY AND HISTORY Where and when did the fast food concept come into play? Fast food is a food that prepared and served quickly at a fast food restaurant or a shop. This PESTLE analysis of the food industry is certainly an interesting one. Region- Global Fast Food Market. In 2020, the average American Customer Satisfaction Index score for quick service restaurants in the U.S. was 78 out of 100. . The market research report includes: Historical data and analysis for the key drivers of this industry. Brands such as The McDonald 's Corporation, Papa John 's International, Inc., Domino's Pizza Inc., Subway Inc, Wendy's Company, Burger King Inc, and so on. The food purchased may be consumed in the restaurant, taken out or delivered as requested. The global Plant-Based Food & Beverage market report is a comprehensive analysis of the industry, market, and key players. The Global Fast Food Market size is expected to reach $1,044.61 billion by 2027, rising at a market growth of 7.8% CAGR during the forecast period. Fast Food Market Size, Share & COVID-19 Impact Analysis, By Product Type (Burger & Sandwich, Pizza & Pasta, Asian & Latin American Food, and Others), Service Type (On-Premise and Delivery & Take Away), and Regional Forecast, 2021-2028 . Increasing fast food restaurants and change in consumer taste and preference is expected to drive the market growth. Introduction Download full paper NOW! The global fast food market garnered $647.7 billion in 2019 and is estimated to reach $931.7 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027. Industry Analysis Rivalry among Competing Sellers Now in the industry of western fast food restaurants, there are several strong competitors against Yum! McDonald's was rated a score of 70, meaning customer satisfaction was 8 . Date: May 07, 2022. The global fast-food market attained a value of USD 617.9 billion in 2020, driven by the increased prevalence of food delivery apps. Fast food restaurants invested heavily in digital over the past year. The variety of foods available in each sector is primarily driving this market growth. Nation's Restaurant News reported that 10% of restaurants in the U.S. closed permanently since March of 2020. . 80%. The swot analysis of a fast-food restaurant business is the best way to present the current state of your business, how it would perform in the market, and how it would compete in the market against competitors. Although, the growth in the fast food industry is 2.5% annually and it is expected to grow at that constant rate because many fast food restaurant don't survive in the industry because of the lack of maintaining quality and hygiene (Sena, 2018). On . As a result, fast food restaurants provide high-quality cuisine, counter service, and a more informal, contemporary atmosphere. A majority of the restaurants are owner-operated and serve their immediate environment (Global Fast Food Restaurants: Market Research Report, 2015). Dietary and eating habits. As it relates to strengths, the low pricing . The index for food away from home rose 5.8% from 2020-2021. . What's more, eaters' diets are becoming . The fast food market size was valued at $647.7 billion in 2019 and is estimated to reach $931.7 billion by 2027, growing at a CAGR of 4.6% during the forecast period. This change in lifestyle is expected to hinder market growth to an extent. The result of this study demonstrated that Mc Donald's was a market leader or superior among other fast food restaurants. Fast Food Restaurants , by Region USD Million (2015-2020) Table 4. Statista is projecting it to reach more than $281.6 billion by the end of 2021. Table of Contents. Families will comprise the majority of dinner time business with individuals making up the majority of lunch time business. Founded in 1940, McDonald's Corporation is the world's largest chain of hamburger fast food restaurants, daily serving around 68 million customers in 119 countries. Understand the Industry. China is the largest market for KFC outside of the United States. Global Fast Food & Quick Service Restaurant Market is projected to grow up to USD 394.21billionby 2027 growing at a CAGR of 5.41%during the forecasting period 2021-2027 Report Scope com) In the year of 2011, the net income has reached 27 billion USD with net profit . The market size of the fast food restaurant industry is expected to increase 8.9% in 2021. The market volume is set to increase by 6. Food and drinks may be consumed on premises, taken out or delivered to the customer. Hobbies. The industry is highly labor-intensive: the average annual revenue per worker is just under $40,000. The Fast Food Restaurants industry consists of restaurants where clients pay for quick-service food products before eating. The industry's ability to provide convenient food at a low price will likely remain popular as consumers continue to seek affordable and convenient food options. A fast food analysis covers fast food in a specific region or nation to provide detailed information about a particular market. 2 million transactions. Valued in 20XX at $105 billion, the domestic market for "fast" food is large and segmented . The market can be divided into two market segments, families and individuals. The availability of variety of items on the menus of fast food restaurants including the low price items will enable the restaurants to survive in the time of recession as well. The Fast-Food Restaurants industry in China operates fast-food restaurants in which customers order items and, in most cases, pay before eating. The average annual growth rate for fast food consumption. The market is driven by the explosion of new concepts and menus, especially within the limited-service segment. A five-year forecast of the market and noted trends. As a whole, the restaurant industry generates in excess of $700 billion per year and employs about 14 million people. Labour wages, rent, tax, food cost, and maintenance cost are sometimes very high . Customer satisfaction. Thus‚ fast food industry is composed of all those food outlets that serve preheated or precooked . Analysis of fast food restaurant. The decision making process of customers in a fast food restaurant is influenced by several factors. The average amount Americans spend on fast food in a year. Gross revenue generated in the industry is derived from both franchised and company-owned fast food . On the other hand, the space is carefully regulated and labor prices are increasing. As it relates to strengths, the low pricing . They are the popular substitute for homemade food. (Fast Food Industry Analysis 2015, 2015). Foot traffic to fast food and casual dining restaurants decreased to almost 50 to 60% since the start of . The Chinese food culture is worldwide well-known, yet the Chinese catering industry has not gained its due attentionin its past two decades' development. The estimated global market value for the fast food industry by 2027. A fast food restaurant, also known as a quick service restaurant (QSR) within the industry, is a specific type of restaurant that serves fastfood cuisine and has minimal table service. The Global Fast Food And Quick Service Restaurant Market is expected to grow at a significant CAGR of 5% by 2028. While German immigrants brought the first Hamburg Style Steak to the United States in the early 19th century, the humble hamburger, White Castle, became the . The U.S. fast food and quick service restaurants market size was valued at USD 180 billion in 2016. By learning all that there is to know about it, you can make important decisions based on what it is that you should do. Menu quality. 4.1 Global Fast Food Container Sales Market Share by Storage Capacity (2017-2022) McDonald's and Burger King: Both are fast food restaurants that offer hamburgers. Latest 2019 Report on " Fast Food and Quick Service Restaurant Market size | Industry Segment by Applications (Online and Offline), by Type (Chain Store and Independent Store), Regional Outlook, Market Demand, Latest Trends, Industry Share & Revenue by Manufacturers, Company Profiles, Growth Forecasts - 2025."Analyzes current market size and upcoming 5 years growth of this industry. The global fast food market is expected to attain a value of USD 843.4 Billion by 2026, registering a CAGR of 5.6% during the forecast . The 2021 online food delivery market worth is $151,526 billion. This Kentley Insights report includes historical and forecasted market size, product lines, profitability . Western fast food has launched a forceful marketing campaign to the Chinese fast food Ambience and decor preference. 931.7 Billion. There are over 200,000 fast food restaurants in the United States and it is estimated that 50 million Americans eat at one of them every single day. An assessment of the competitive landscape and market shares for major companies. Drink preferences. The growing convenience and affordability of fast food is a major . Fast Food Street Vendors , by Region USD Million (2015-2020) . 9.1 North America 9.2 Europe 9.3 Asia-Pacific . The report facilitates in-depth insights on the key growth drivers, emerging trends, restraints, challenges, and opportunities in the global market. On the one hand, consumers have more to spend on food and robots can reduce expenses. (Restaurant Dive, 2020) As of January 2021, there was a 65.91% year-on-year decline in consumers dining in restaurants in the U.S. as a result of the COVID-19 pandemic. KFC came to China in 1987 and ushered in the fast food market. Some new concepts are being inspired by international cuisines, such as Korean barbecue and other street items . The industry incurred a loss of $240 billion due to the pandemic. . A fast food restaurant SWOT analysis should be produced as well. In 2020, the average American Customer Satisfaction Index score for quick service restaurants in the U.S. was 78 out of 100. Global Fast Food Sale, by Application, Nature, Service, Product and Region (value and price ) (2021-2026) . McDonalds and other western food restaurants soon followed seeing the potential of the market of 1.3 billion people. Industry Insights. . While the recession did result in lower prices of commodities, the . Accessible for and volume of foot traffic. You have to keep in mind the good and bad points of your restaurant business that would be strengths or weaknesses relevant to . Fast Food Market was valued $647.7 Bn in 2019 & to reach $931.7 Bn by 2027, at a CAGR of 4.6%. The global Fast Food Market size was calculated to be USD 647.7 billion in 2021, and it is envisioned to reach USD 931.7 billion by the end of 2027 at a CAGR of 4.6% over the prediction period. The index for food away from home rose 5.8% from 2020-2021. Percentage of Menu Items Meeting Healthier a Nutritional Values for Adult à la Carte Entrees, Adult Side Dishes, and Children's à la Carte Entrees, by Fast-Food Chain . Detailed research and segmentation for the main products and markets. Fast food is defined as the food that is prepared and served at . Global Fast Food Market Analysis and Forecast, by Product Type 7.1 . Increasing preferences for fast food among different generations such as generations X, Y, and Z are driving the market growth. A few examples of direct competition are: Pita Pit and Extreme Pita: Both are quick service restaurants that offer pitas. The global fast food market garnered $647.7 billion in 2019 and is estimated to reach $931.7 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027. By type, the Asian/Latin American food segment is estimated to witness the fastest growth, registering a CAGR of 3.4% during the forecast period. Expect fast food industry revenue to continue to grow year over year with more restaurants entering the market. The growth of the market will be majorly driven by its increased popularity of fast food across the globe as a convenient and easy to get food. Fast Food Market Market Overview: Fast food as defined by English dictionary is cooked food sold in snack bars and restaurants as a quick meal or to be taken away. Fast Food Market Size, Share & COVID-19 Impact Analysis, By Product Type (Burger & Sandwich, Pizza & Pasta, Asian & Latin American Food, and Others), Service Type (On-Premise and Delivery & Take Away), and Regional Forecast, 2021-2028 . The report facilitates in-depth insights on the key growth drivers, emerging trends, restraints, challenges, and opportunities in the global market. This document reviews the strengths, weaknesses, opportunities, and threats that are common to these businesses. Apr 18, 2022 | USD 295. . Between 2005 and 2010, Latin America, Asia Pacific, Eastern Europe and Russia accounted for 89% of global growth in the fast-food industry (Passport, 2012). It's a mix of positives, negatives, and uncertainties. As per our analysis, the Global Fast Food Industry is expected to expand at a CAGR of 7.35% from 2020-2027. . Full Service Restaurant Turn more tables, upsell with ease, and streamline service with a powerful system built for FSRs. . Another element of market analysis relates to where your bar or restaurant is located: Other businesses in your area. Hotels and restaurants provide services like traditional food, fast food, drinks, coffee, and accommodation. IBIS' report estimates that the fast food industry in China will generate $177.6 billion in 2019, up almost 8 percent from 2018. Fast food establishments cater to consumers who want cuisine that is quick to prepare and are less expensive than a casual dining facility. The global fast food and quick service restaurant market size were accounted for USD 257.19 billion in 2019. Unique menu or menu items—food or cocktail, or something like a food and wine pairing menu. And of course, much more. Additionally, the continuous diversification of the menu coupled with . com & burgerbusiness. An Analysis Of The Fast Food Industry. Remember that the point of conducting this type of analysis is so that you can better understand the fast food industry within your area. A quick service restaurant (QSR), also known as fast food restaurant, is a specific type of restaurant that serves fast food cuisine and has minimum amount of . They will be competing against other . Chipotle's . These foods are high in sodium, sugar, and fat, which may cause health-related problems, and obesity. Social media activity. Fast Food Industry Analysis: COVID-19 hit the foodservice industry harder than most. Fast food refers to the convenient food, which is made and served at quick-service restaurants as well as by street vendors. Fast Food Market size was valued at USD 660.20 Million in 2020 and is projected to reach USD 896.95 Million by 2028, growing at a CAGR of 3.91% from 2021 to 2028. As of 2021, however, things are starting to look up again. ; Brewery Increase beer sales and reduce spillage with an intuitive POS breweries love. The profit margins are therefore very low. Fast Food and Fast Casual Restaurants - 2022 U.S. Market Research Report with Updated COVID-19 Forecasts. ; Family Style Turn more tables and delight guests with a POS built for family style restaurants. Most fast food outlets often provide take away or take out foods in addition to sit down services. This report covers the scope, size . In-depth fast food market analysis and segmentation assists to determine the prevailing market opportunities. Lao Sze Chuan and MingHin Cuisine: Both are Chicago-based, family style, chinese restaurants. Institutional and caterers and industrial organisations are also included in this business. Mary McMahon. DUBLIN, Oct. 15, 2021 /PRNewswire/ -- The "Fast Food and Quick Service Restaurant Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to . Economic: The economic factors plays a vital role in influencing the fast food industry. As a whole, the restaurant industry generates in excess of $700 billion per year and employs about 14 million people. Fast food restaurants . This industry is made up of establishments focused on the sale of prepared food and drinks for immediate consumption on or near the premises. How to Do a Fast Food Industry Analysis. Industry analysis:The Fast Food Industry (McDonald's) NAICS 72221: Fast Food Restaurants. Of Americans visit a fast food restaurant once a month. The global fast food and quick service restaurant market size was valued at USD 257.19 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.1% from 2020 to 2027. 1.3 MARKET ANALYSIS. Globally, the market is $570 billion. Within this industry, several leaders should be identified. Decor, ambiance, and environment. estimated to bloom from $533,24 4 M to $743,859 M at a 4.8% CAGR (Co mpound Annual Growth Rate). (Restaurant Dive, 2020) As of January 2021, there was a 65.91% year-on-year decline in consumers dining in restaurants in the U.S. as a result of the COVID-19 pandemic. Fast food is any food that can be prepared and sold within a short span of time. The market size of the fast food restaurant industry is expected to increase 8.9% in 2021. The forecast for the market value is set to increase to $9,147 million by 2016. Download this Fast Food Restaurant Business Plan free for easy editing in Microsoft Word: Download Now. Fast food industry analysis is a detailed exploration of the fast food industry to identify emerging trends and make projections about the future of this sector of the economy. However, if you're planning to invest in this . The industry is expected to have an annual growth of 2.5% for the next several years - below the long term average but coming back from a several year slump. The global lockdowns have destroyed many restaurants around the world. (mcdonalds. The global fast-food market size was valued at $647.7 billion in 2021 and is likely to surpass $998 billion by the end of 2028 with a compound annual rate of 4.6% over the forecast years. a For the purposes of this article, the 9 chain restaurant companies included in our study were de-identified and assigned a letter, A through I. b All values are mean (standard deviation) unless otherwise noted.. Table 4. By type, the Asian/Latin . . 1.0 Executive Summary; 2.0 Company Summary; 3.0 Products and Services; 4.0 Market Analysis Summary; . In US alone, 200,000 fast food restaurants are feeding 50 million people . The average amount Americans spend on fast food in a lifetime. Globally, people are increasingly leaning towards healthy eating habits and subsequently, healthy food options are gaining popularity. A blue . The fast food market size was valued at $647.7 billion in 2019 and is estimated to reach $931.7 billion by 2027, growing at a CAGR of 4.6% during the forecast period. The value of the chain restaurant sector in the USA was $138 billion in 2019 which went down dramatically in 2020 due to the lockdowns (Lock, 2021). ; Food Truck Turn long lines into large profits with a fast and reliable POS for food trucks. The MarketWatch News Department was not involved in the creation of this content. 4% by 2011. The Fast Food Market Overview Research revealed that by 2022 the Trend of Fast Food Industry is. This document reviews the strengths, weaknesses, opportunities, and threats that are common to these businesses. Consider the hamburger. End User - Global Fast Food Market. The Philippines quick service restaurants market size was valued at $4.6 billion in 2018, and is expected to reach $7.9 billion by 2026, registering a CAGR of 6.9% from 2019 to 2026. This report provides detailed historical analysis of global market for Fast Food and Quick Service Restaurants from 2017-2021, and provides extensive market forecasts from 2022-2028 by region . Neighborhood or location (close to a highly trafficked subway stop, for example) Outdoor dining options. The market size of the fast food restaurant industry is expected to increase 8.9% in 2021. This is an increase of 16. McDonald's was rated a score of 70, meaning customer satisfaction was 8 . SWOT analysis for a fast-food restaurant. Global Fast Food Market Size & Growth: The global fast food market will be growing at a CAGR of 5.5% to reach $851.6 Billion by 2025 from $617.6 Billion in 2019 during 2019-2025. Other bars and restaurants near you. What would be the Market Size of Fast Food Market by 2026? Example 1. SWOT Analysis; 7. Transactions in the fast food market also grew in 2011 by 1% to reach a total volume of 2,785. Kona-Q will be operating within the fast-casual niche of the restaurant industry. Typically, fast food is sold in a restaurant or store with precooked or preheated ingredients, and served to the customer in a wrapped form for take away or drive through. Foot traffic to fast food and casual dining restaurants decreased to almost 50 to 60% since the start of . 8% by 2016 to a total of 2,975. The index for food away from home rose 5.8% from 2020-2021. in-depth assessments of the industry in the United States with over 100+ data sets covering 2013-2026. According to IBISWorld, the fast food industry in the United States is worth $278.6 billion dollars in 2021. Common strengths include: Knowing how to price a food menu. The market growth is assisted by increasing preference for fast food among generation X, Y, and Z across the globe. . Fast food restaurant analysis is a marketing research function that shows how certain fast food restaurants compare with their competitors on sales, service and even product quality. Aided by heightened adoption of innovative strategies in the production of fast food and growing working population, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 6.2%. 4 Global Fast Food Container Historic Market Analysis by Storage Capacity. 8.1 Full-Service Restaurant 8.2 Quick Service Restaurant 8.3 Caterings 8.4 Others. Additionally, the consumers have a prior knowledge concerning the market that affects their purchasing power. The industry incurred a loss of $240 billion due to the pandemic. Moreover, running a restaurant is not cheap. May 13, 2022 (The Expresswire) -- The Global Fast Food and Quick Service Restaurant Market research report shows . In the past two decades, China's . $70,500. 1. The fast-food and quick service restaurants market is anticipated to grow at a significant CAGR of 6.6% during the forecast period. Global fast food industry revenue will exceed $885 billion in 2021. 2.2%. The market is anticipated to witness a 5.1% CAGR over the forecast duration, 2020 to 2027. It is served usually in a carton or bags in order to minimize cost. A fast food restaurant SWOT analysis should be produced as well. Market Analysis Summary. . The Fast Food Restaurants industry will continue to be one of the strongest U.S. industries, reaching $320 billion in the next five years. All of the top ten fast food brands globally in 2020 have their roots in the United States. Food provided by the industry includes both Chinese and Western fast food. This type of restaurant focuses on fast food service and limited table service. The rise in disposable income and speedy urbanization of the food industry are the key factors fueling market growth. Social Increasing consumer awareness about healthy lifestyles has pressured many fast-food players to offer healthier selections within their menus (BBC, 2011). The global fast food market garnered $647.7 billion in 2019 and is estimated to reach $931.7 billion by 2027, registering a CAGR of 5.1% from 2020 to 2027. . According to consumer behavior model, it indicates that the consumers are aware of their desires and . 4 million transactions. 9. The global fast-food market size was valued at $647.7 billion in 2021 and is likely to surpass $998 billion by the end of 2028 with a compound annual rate of 4.6% over the forecast years. 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