Fast food generally refers to food that can be prepared and served quickly in comparison to traditional meals and can be consumed on-site, taken away or delivered by restaurants and food outlets. The concepts of food-on-the-go and drive-thru food joints were first popularized in US owing to its fast paced lifestyles. United States also leads the global fast food market in terms of market share followed by Asia Pacific.
Global fast food market is highly competitive compelling established players to strive for retaining market share and customer loyalty. Fast food market can be classified by product types into burgers & sandwiches, seafood, pasta & pizza, chicken, Asian & Latin American and other snacks. Of these, burgers & sandwiches dominate the market share followed by pasta & pizza. However, demand for Latin American food and chicken is expected to escalate in developing markets due to their bold flavours and health benefits. Typically, quick service restaurants (QSR) with minimal table service and fast delivery option serve fast foods. QSRs generally focus on consistency, affordability and speed with most of the processed food prepared in an assembly line.
Presently, market is witnessing increasing awareness of negative impacts of fast food among health conscious consumers due to high fats, sugar, salt and food additives. Although deemed tasty, it has low nutritional value and high caloric content. As a result, consumers are shifting towards healthier and natural food alternatives such as hormone-free, natural and organic produce.
Factors like inclination towards westernized food habits, rising income levels, hectic lifestyle, affordability and convenience are expected to fuel the growth of fast food market. Also, with surge in demand for fast food options, market is witnessing rise in number of food franchises thereby enabling fast food chains to grow globally. However, stringent animal welfare and food safety regulations are anticipated to restrain overall market growth.
ASDReport.com provides a diverse collection of reports on fast food market. These reports offer market insights on various fast food sub-markets like, meat snacks, children's snacking, snacking and much more.