The major players in the fast food market are Auntie Anne’s Inc., Cinnabon Franchisor SPV LLC, Domino’s Pizza Inc., Dunkin’ Brands Group Inc, Hardee’s Restaurants LLC, Firehouse Restaurant Group Inc., Jack in the Box Inc.
New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “Fast Food Market Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06365029/? utm_source=GNW
, McDonald’s Corporation, Restaurant Brands International Inc., Yum! Brands Inc., Doctor’s Associates Inc., CKE Restaurants Holdings Inc., Wallace Foods Inc., Inspire Brands Inc. and Chipotle Mexican Grill Inc.
The global fast food market is expected to grow from $575.31 billion in 2021 to $628.55 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The Russian-Ukrainian war has disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions against several countries, a spike in commodity prices and supply chain disruptions, affecting many markets around the world. The fast food market is expected to reach $802.62 billion in 2026 at a CAGR of 6.3%.
The fast food market includes fast food sales by entities (organizations, sole traders, and partnerships) that are used to quickly provide customers with a fast and convenient dining option. Fast food is a fast food option that is cheap and readily available.
Convenience and taste are the main selling points of fast food. In recent times, efforts have been made to improve the nutritional content and healthiness of fast food restaurants by adding healthy ingredients.
The main types of fast food service are dine-in, delivery, and take-out. Onsite fast food service markets are used to provide customers with food and a place to sit down and enjoy fast food.
The on-site restaurants offer guests the opportunity to sit back, relax and enjoy delicious meals in a great atmosphere with a great experience. Fast food products include seafood, Latin American dishes, chicken, sandwiches, burgers, pasta and others.
The various end users include quick service restaurants, quick service restaurants and others.
North America was the largest region in the fast food market in 2021. Asia-Pacific is expected to be the fastest growing region during the forecast period.
Regions covered in the Fast Food Restaurant market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growing number of restaurants is a key factor contributing significantly to the growth of the fast food market. The basic purpose of a restaurant is to provide food and drink.
As fast food takes less time to prepare, it allows restaurants to meet the needs of large customers. For example, according to FinancesOnline, an American platform for evaluating software and SaaS (Software as a Service) or B2B (Business-to-Business) financial products, in the United States there were more than one million of restaurants which employed 15.6 million people in 2021 and 101,811 restaurant chains in the United States as of 2021. Hence, an increasing number of restaurants and hotels are driving the growth of the fast food restaurant market.
The new advancement in online food delivery is a key trend that is gaining popularity in the fast food market. Major companies operating in the fast food market are coming up with new ways to improve the online food delivery experience for customers.
For example, in April 2019, Co-op Food, a UK-based food retail business of The Co-operative Group, launched a new online delivery service that uses electric cargo bikes. The new service would initially be available to customers within a 4 kilometer radius of the store on Kings Road in Chelsea, London.
Orders would first be filled using human-powered e-bikes with a zero-emission electric motor to help. Prices for goods are the same as in-store prices, with a delivery charge of $6 (£5) and a minimum purchase requirement of $18.26 (£15). The new delivery service offers a fast and flexible way to shop, with a selection of over 1,500 products available to order, including alcohol, between 9 a.m. and 10 p.m.
In November 2021, Restaurants Brands International, a US-based fast food chain, acquired Firehouse Subs for $1 billion. With this acquisition, Restaurants Brands International would capitalize on its development expertise, global franchise network and digital. capabilities to grow Firehouse Subs as a global brand.
Firehouse Subs is a fast food restaurant chain based in the United States.
The countries covered in the Fast Food Restaurant market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the United Kingdom and the United States.
The Fast Food Restaurant Market Research Report is one of a series of new reports that provide fast food market statistics, including global fast food industry market size, market share regional, competitors holding fast food market share, detailed fast food market segments, market trends and opportunities, and all the additional data you may need to thrive in the fast food industry. fast food. This Fast Food Restaurants Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of current and future industry scenarios.
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