The
competitive landscape of the global
fast food market includes companies such as Yum! Brands Inc.,
Burger King Worldwide Inc., McDonald’s Corporation, Jack in the Box
Inc., Doctor’s Association Inc, Dominos Pizza Inc., and Wendy’s
International Inc. The competition in the market is intense owing to
the presence of a large number of fast food players catering to a
smaller population. The market players are focusing on adding healthy
options in their menus owing to the growing demand for nutritious and
natural food among customers.
Key
Players Focus on Asia Pacific and Latin America as Upcoming Markets
for Fast Food
Among
the key regions in the global fast food market, Asia Pacific and
Latin America have emerged as the promising regions and are expected
to register significant growth in the near future. The market players
are strategizing to expand across the developing countries in these
regions. “It is important for these market players to expand
judiciously and steadily to avoid losses due to unplanned expansions
in these regions,” cites a TMR analyst. The key companies had
initially expanded across North America where fast food is very
popular. High real estate cost and labor cost are the major hiccups
in the growth of the players in this region. However, the increase in
disposable income in emerging economies in Asia Pacific is
anticipated to push the market’s growth. Furthermore, the cheap
labor cost in the emerging economies such as China helps to increase
the operating margin of these market players.
Growing
Awareness about Healthy Eating Compels Market Players to Introduce
Nutritious Items in their Menus
Changing
food habits, coupled with the rapid growth of the middle class
population in emerging economies have aided the growth of the global
fast food market. Rise in disposable income and the growing demand
for convenient and affordable food at low prices have also resulted
to the growth of this market.
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However,
the growing health concerns regarding the presence of unsaturated
fats in the fast food items and the ensuing food safety regulations
have restricted the growth of the global fast food market. The rise
in consumer awareness about healthy food options has led to the
decline in sales of fast food products. As a result, the market
players are including healthier fast food options containing
hormone-free meat, natural vegetables, hormone-free meat, and organic
ingredients, across their stores. This would open new opportunities
for the growth of the market during the forecast period.
The
global fast food market is expected to expand at a CAGR of 4.40%
during the period between 2013 and 2019. The market stood at a
valuation of US$477.1 bn in 2013 and is anticipated to be worth
US$617.6 bn by 2020.
The
review is based on the findings of a report published by Transparency
Market Research, titled “Global Fast Food Market - Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2013 – 2019.”
Global
fast food market has been segmented as:
Global
Fast Food Market by Type
The
different types of Fast Food covered under this research study are
defined as follows:
- 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
The
different geographies covered under this research study are defined
as follows:
- North America
- Europe
- Asia-Pacific
- Rest of the World
