The rapid expansion of the middle class population in various parts of the world has augured well for fast food brands. There is a shift in dietary patterns and food habits, modern consumers seek both time and quality. Food & beverage is among the various sectors that are deeply influenced by the fast-paced lifestyle of modern consumers, especially the millennial population. To work in tandem, fast food brands are aligning themselves with the evolving consumer trends. Today, the fast food sector enjoys widespread popularity worldwide and the future certainly looks promising at this point. Global fast food consumption has grown in leaps and bounds over the years, creating tones of opportunities for fast food brands.
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The volume of unsaturated fat is significantly high in majority of fast food items, which usually does not go well with health conscious consumers. Increasing awareness about food ingredient is one of the major consumer trend, many of consumers look for healthy food options, which is prompting fast food chains revise their recipes and menus. Further, many of brands are promoting and advertising their product with healthy and fresh food themes.
Leading Key Players
Some of the top companies mention in MRFR’s report include Burger King Worldwide Inc., Yum! Brands Inc., Wendy’s International Inc., Doctor’s Association Inc, McDonald’s Corporation, Domino’s Pizza Inc. and Jack in the Box Inc.
Latest Industry Trends and News
Based on type, the global Fast Food Market has been segmented into pizza/pasta, Asian/Latin American Food, burger/sandwich, sea-food, chicken, and others. Based on delivery, the market has been segmented into online, take away, dining-in, and others.
On the basis of region, North America and Asia Pacific (APAC) are expected present lucrative growth opportunities for market player throughout the assessment period. In North America, factors such as the strong consumer preference for ready to meals and the frequent dine-out-of-home culture is expected to usher the growth trends over the next couple of years. Meanwhile, busier lifestyle and increasing disposable income are two major factors supporting the growth of the market in APAC. The market in the region is expected to witness a relatively faster compound annual growth rate during the forecast period. Therefore, the region remains a key designation for fast food brand planning to expand.
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