Transparency
Market Research’s new market study on the global
fast foods market delves into the trends and opportunities of the
said market for the 2013-2019 period. The report says that the global
fast foods market will be valued at US$617.6 bn by 2019 increasing
from US$477.1 bn in 2013. This will translate into a CAGR of 4.40%
over the report’s forecast period. The title of this report is
“Global Fast Food Market - Industry Analysis, Size, Share, Growth,
Trends, and Forecast, 2013 - 2019” and it is available for sale on
the company’s website.
Fast
food refers to mass-produced food that can be prepared and served
very quickly. First popularized in the U.S. in the 1950s, it is
believed to have less nutritional value compared to other foods. Fast
food draws from various culinary styles to offer consumers food items
that are high on the taste quotient.
The
global fast foods market observed significant expansion in North
America in its early years. This is the region where the market’s
foundation was laid. North America is still a large market for fast
foods. In the coming years, however, the non-traditional fast foods
markets are expected to generate a significant chunk of the global
revenue – these include Asia Pacific and Rest of the World. In
these regions, an expanding population base coupled with economic
growth and increasing disposable income levels are the major factors
driving the fast food market. Peer pressure among consumers to switch
to Western eating habits is also a key factor fueling the growth of
this market.
Request
a Brochure of this Report
:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2366
However,
in traditional fast food markets such as North America and Europe,
due to an evident shift in consumer food choices from fast foods to
natural foods, the growth of the overall market will be negatively
impacted. Consumers are increasingly becoming conscious about the
ill-effects of food additives in the long run. Thus, market players
are compelled to switch to natural ingredients, hormone-free meats,
and organic produce to make their products attractive for consumers.
On the contrary, in the developing countries of Asia Pacific, the
recently gained economic prosperity and surging income levels have
led to higher spending on contemporary foods, which include fast
foods as well.
The
report segments the global fast foods market on the basis of delivery
chain, food type, and geography. By product type, burgers/sandwiches,
pasta/pizza, seafood, chicken, Asian/Latin American, and snacks are
the segments of this market. The market of pizza/pasta and
burgers/sandwiches will display a higher CAGR compared to Latin
American food or chicken during the forecast period. Nevertheless,
developed markets will witness a rising preference for Latin American
food and chicken due to their bold flavors and health benefits.
Geographically,
in 2013, North America stood as the largest market for fast food
followed by Asia Pacific. In North America, the busy lifestyle of
individuals that does not leave adequate time for fresh cooking on a
regular basis and dependence on convenient restaurant food are
driving the market. Drive-thru food joints and food-on-the-go are a
commonality in North America where people eat out frequently. In
2013, Asia Pacific and North America collectively held a share of
more than 64% in the global fast food market.
Top
players in the global fast food market are Burger King Worldwide
Inc., McDonald’s Corporation, Jack in the Box Inc., Wendy’s
International Inc., Yum! Brands Inc., Domino’s Pizza Inc., and
Doctor’s Associates Inc.
The
market is categorized into the following segments:
Global
Fast Food Market by Type
- Burger/Sandwich
- Pizza/Pasta
- Chicken
- Asian/Latin American Food
- Sea-Food
- Others (Snacks, Mexican etc.)
Global
Fast Food Market by Type
- Quick Service Restaurant (QSR)
- Street Vendors
- Others
Global
Fast Food Market by Geography
- North America
- Europe
- Asia-Pacific
- Rest of the World
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