Globalization and urbanization had heavily impacted on the intake routine of consumers and fascinated them towards fast food. It has already matured in most countries, with an overall annual growth rate estimated at just 3. Importance of health trend Health remains the most significant topic of discussion in this area, with brands adapting menus accordingly. Healthier, higher-quality fast food is growing more popular in markets, and operators are learning best practices as to how to most effectively leverage this growing source of. Market value is based on expenditure including sales tax in these outlets; market volume is based on numbers of outlets. Owing to factors such as regional integration and the ever-rising scale of globalization, many fast food franchises have been observing immense success. The industry employs over 4 million people and counting - restaurant franchises added over 200,000 jobs in 2015.
Restaurants have had to absorb this step change and may not have been able to recoup the entire cost increase through price rises. What is more, between 2015 and 2016 sales increased a spectacular 10. As the newest online category, new delivery offers advantages as well as some disadvantages for restaurants, customers, and deliverers. With new delivery, consumers can dine at home with the same quality food they would enjoy at a fine restaurant. Key Findings: Restaurants, Fast-Food, Pizza Delivery, Takeout and Family Industry U. Speed of delivery is the biggest variable in customer satisfaction, with an average 60 percent of consumers across markets citing it as a key factor. Almost all locations are saturated given the mature life cycle stage of the industry.
While still a risk, this is not a new dynamic and the industry is already fighting back successfully. The industry has performed relatively well over the past five years. The report presents comprehensive competitive outlook with company profiles of the key players operating in the global market. Many franchises are using the same exact model of limited service that launched in the 50's. Our database of market research reports comprises a wide variety of reports from cardinal industries.
While the market in North America is expected to witness a downturn in terms of demand in the next few years, the Asia Pacific market is expected to witness expansion at an immense pace in the next few years. The industry also includes fast food sold in food halls and food courts. Related in part to concerns about healthy options, fast casual is the fastest growing segment of the restaurant industry, and is largely stealing market share from the fast food restaurants. Both aggregators and new-delivery players have attracted significant investment, allowing them to advertise widely and build recognition for their brands quickly. Latin America possesses huge potential for chained development in the forecast period.
Higher prices and more efficient operations Labor concerns are a stickier problem. In the next few years as well, the fast food market will be driven in the region on the back of a rapidly rising young population with immensely busy lifestyles, high disposable incomes, and changing food preferences. While Quick Service was once dominated by fast food, fast casual continues to gain market share. It is also driven by the languid population who expect their meals delivered at their doorstep. The attendance of various players comprising the street food makers in fast food market has created strong competition among the leading companies to majorly aim on research and product development to stay in fast food market. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Strict government regulations and pollution may hamper the functioning of the roadside vendors. Chicken emerged as potent segment due to potential demand from the emerging economies. The report provides a complete view of the fast food market and encompasses detailed type portfolio and strategic developments of key vendors. Asia-Pacific is segmented into China, Indonesia, Australia, South Korea, Taiwan, Thailand, and others, while RoW is bifurcated into South America, Middle East and Africa. In 2017 households spent an average of 19 British pounds a week on , the figure being even higher for those aged 30 to 64. The extent to which the growth of delivery services is adding incremental sales or cannibalising sales and eroding margins is also unclear. It seems the market is brewing up for further success, as over the next five years coffee shop sales are forecast to jump a further 29%, reaching a heart-stopping £4.
The restaurant sector is labour intensive and faces significant challenges on the cost, availability and quality of its workforce. Market Size, Segmentation and Forecasts 6. However that market share is sliding, and Mexican food in particular has been gaining. In your browser settings you can configure or disable this, respectively, and can delete any already placed cookies. The market environment is becoming more challenging People now eat out more often and for a wider range of occasions.
This traditional category has a 90 percent market share, and most of those orders—almost three-quarters—are still placed by phone. Please see our for details about how we use data. By logging in to the site or the app, consumers can quickly compare menus, prices, and reviews from peers. A rapidly rising population of consumers with busy lifestyles, high disposable incomes, and keenness to explore world cuisines are some of the factors leading to ample growth opportunities for the fast food industry in the region. However, the Bank of England has forecast that inflation will rise to 2. Food and drink purchased from fast-food and takeaway restaurants is consumed on-site, taken away or ordered over the phone or internet for home delivery.