Global Fast Food Market Size, Share, Trends & Growth Forecast Report

Fast-Food market

Consumer preferences towards healthy food items like plant-based alternatives are ascribed to launching innovative products that escalate the growth rate of the fast food market. Nowadays, people are more inclined to adopt eating fast food items due to lack of time in their busy work schedule, especially in urban cities. Key companies are taking initiatives to launch customers' preferred food items to accelerate the growth rate of the fast-food market. On the other hand, people also prefer various fast-food items prepared with chicken rather than animal-based products like meat, beef, and pork, among others. Chicken is mostly a preferred fast-food item due to its low saturated fat content, which is rich in protein. It is one of the most suitable food items among other healthier alternatives that are likely to promote the market's growth in the coming years. For instance, leading companies in fast food chains like Burger King and Mcdonald's have already introduced new chicken and vegetarian options on the menu that are considered to attract customers who choose trendy food products in fast-food restaurants.

Penetration of the e-commerce systems in the food industry

In this modern world, digital platforms are evolving in the food industry, where the penetration of e-commerce systems is reshaping the food industry. Digital platforms in the food industry are ascribed to reducing the challenges of traditional intermediaries that enhance direct contact between producers and consumers. Transparency in supply chain management, where anything can be effectively managed through various applications simply by using mobile phones, is definitely another benefit for the food industry. The recent launch of food delivery applications is one of the types to accelerate the growth rate of the fast-food market. A person can order food through applications via smartphones, tablets, or laptops that will be delivered to the doorstep within a few minutes, which attracts most consumers across the world. The availability of high-speed internet connection in every corner of the world is justifying the demand for online food delivery applications that are forecasted to promote the growth rate of the fast food market to the extent.

According to the statistics, approximately 66 million people in the US used Uber Eats, a food delivery application, in 2020. Mostly, young people rely on eating outside food and use online delivery applications the most. It is said that more than 52% of adults in the US use food delivery applications to order food from various restaurants. These applications add major features to attract health-conscious people and showcase the relevant food products that make it easy for them to choose according to their taste of interest. This attribute is also likely to promote the growth rate of the market in the coming years.

Growing interest in plant-based fast food products among consumers

Swift changes in consumers' interest in eating plant-based products are largely amplifying the growth rate of the fast food market. Plant-based food products are always healthy and rich in protein, and many people are opting for this kind of food product, more likely across the nations. For instance, according to the Plant-Based Foods Association, around 79 million people in the US prefer only plant-based food products. The focus on launching innovative plant-based products that are highly nutritious to lead a healthy lifestyle by fast food companies shall elevate the growth rate of the market. These foods help people in their weight loss journey more effectively without compromising the taste and flavors of the food they love to eat. The growing awareness of the benefits of plant-based food products, especially among the GenZ population, is conquering the need for the launch of innovative plant-based products. According to a recent survey from various sources, 79% of the Gen Z population mostly prefer meatless fast-food products at least a day a week, and 65% of people go for completely plant-based diet options regularly in restaurants. Therefore, the growing prominence of the plant-based food diet, especially among Gen Z population options, is clearly elevating the need to launch new products on the fast food menu.

Recently, the World Animal Protection Committee reported that shifting the trend toward plant-based food products could merely reduce carbon footprints. Plant-based foods are an effective way to lower carbon emissions, and completely avoiding animal-based products can reduce the suffering of many farm animals. The committee also stated that introducing various plant-based menu options in fast food restaurants could positively impact the environment. Swapping a chicken patty to a plant-based patty can overall reduce the climatic impact by 60%, which is an important factor in launching plant-based menu options in fast food restaurants.

The trend towards ready-to-eat food products

The increasing number of working-class people in both developed and developing countries is likely to showcase huge growth opportunities for the fast-food market. Mostly, working-class people do not have time to prepare fresh homemade food due to the lack of time in their busy schedules while working continuously. In general, these people opt for foods that are made in very little time and have a healthy diet. To address this demand, there is an increasing number of quick-service restaurants that deliver fast-food products in mere time. In developed countries like the US, the demand for quick-service restaurants is incredibly growing, which is ascribed to bolstering the growth rate of the fast-food market. There are about 2,53,204 number of fast-food restaurants in China. China is one of the leading countries in launching various types of fast-food products. The demand for quick-service restaurants is also too high in China, quietly leveraging the growth rate of the fast-food market.

Asia Pacific is showcasing huge growth opportunities for the fast-food market. Owing to the growing population with low- and middle-class income in emerging countries is subjected to outrage the growth rate of the fast-food market in North America. The presence of the most famous fast-food chains in emerging countries like India and China is ascribed to leverage the growth rate of the market in the coming years.

Conclusion:

Changes in the consumer's food habits more frequently is augmented in launching new products more often by the top brands in the quick service restaurants that eventually to emerge new trend in the fast-food market.