Fast Food Market Business Environment Analysis and Dynamics by 2028

Fast Food Industry Overview

The global fast-food market size was valued at USD 529.5 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2021 to 2028.

The rise in consumer spending and the growing influence of food delivery applications are the major factors driving the market growth. The COVID-19 pandemic adversely affected the food industry owing to the rising cases and fear of contracting the infection from food. Disruptions in supply-chain coupled with labor restraints impacted the demand for fast food in the early months of the pandemic. According to the National Restaurant Association, close to 7 million workers in the United States lost their jobs in June 2020.

Gather more insights about the market drivers, restrains and growth of the Global Fast Food Market

U.S. fast food market size by product, 2018 - 2028 (USD Billion)

In addition, an increased awareness level about the consumption of healthy foods affected the market growth during the pandemic. However, the market is expected to regain its demand post-pandemic owing to a rise in the number of fast-food franchises and increasing demand for online food deliveries.

Furthermore, a rise in the working population is supporting market growth. During the pandemic, several restaurants offered delivery services and meal kits, which increased the demand for fast food services. The rise in snacking habits among consumers is also driving the demand for fast foods.

Browse through Grand View Research’s Consumer F&B Industry Research Reports.

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Key Companies profiled:

Some of the prominent players in the global fast food market include:

  • Auntie Anne’s Franchisor SPV LLC
  • Domino’s Pizza, Inc.
  • CKE Restaurants Holdings, Inc.
  • Firehouse Restaurant Group, Inc.
  • Jack in the Box, Inc.
  • McDonald’s
  • Restaurant Brands International, Inc.
  • Yum Brands Inc.
  • Inspire Brands, Inc.
  • Doctor’s Associates, Inc.

Order a free sample PDF of the Fast Food Market Intelligence Study, published by Grand View Research.

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