Market Research Future (Food and Beverages) Fast Food Market Research Report | Page 3

Fast Food Market Research Report - Forecast to 2023
2 Market Overview
Fast foods are the type of food served by the quick service restaurants or street vendors in minimal duration. They
are mainly prepared in large quantities and are served quickly to the customers as per their demand. Different types
of fast foods include burger/sandwich, pizza/pasta, chicken & seafood, Asian/Latin American food, and others. The
huge variety of food products available under each segment is majorly driving the growth of the market.
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.
Increased discretionary spending and growing preference for convenience food has reflected favorably on the global
fast food market. In addition, factors such as increased tourism, recovery of the global economy are also partly
driving the global fast food sales. However, rising concerns over onset of diseases such obesity, diabetes and blood
pressure due to excessive junk food consumption and its sever health implications in the long-run continues to act
as major growth deterrent for the market.
Latest Industry Trends and News:
• Philippines base fast food company, Jollibee Foods Corp is set to back a private equity fund, which is preparing to
acquire Tim Ho Wan restaurant chain’s Asia Pacific business.
• Fast food giant Pizza Hut is reportedly going to continue with its test of delivering beer to over 100 locations in
California and Arizona. This move is aligned with it ongoing efforts to compete with Domino’s Pizza.
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