Editor’s Note
This press release summary highlights key market drivers for the fast food industry from 2017-2023, emphasizing its role as a convenient alternative to home cooking and its growth fueled by urbanization and globalization.
A survey was conducted to understand the overview of the fast food market from 2017 to 2023.
Fast food is defined as food that is easy to prepare and serve. It serves as an alternative to home-cooked meals. Fast food is widely used in restaurants, hotels, and fast food centers. Furthermore, it facilitates easy food preparation and storage. The increase in the number of restaurants and hotels, attributed to rapid urbanization and globalization, is expected to boost the growth of the fast food market. Additionally, rising consumer health awareness and increasing demand for healthy and tasty food are driving market growth.
Concerns related to fast food are growing. Research indicates that consumption of fast food causes overweight, obesity, and other medical problems. Health issues are the biggest constraint on the growth of the fast food market. This rising concern has led people to switch from fast food to fast casual food. The fast food market is losing market share to fast casual food.
Most fast food available today is healthy and helps with weight loss when combined in proper proportions with other foods. Demand for fast food has increased over the past decade due to the penetration of new product types into the food industry. Furthermore, the use of these products by numerous end-users such as full-service restaurants, hotels and resorts, and quick-service restaurants is expected to promote the growth of this market.
The objective of this survey is to analyze the global fast food market through a series of questionnaires and find answers to business questions such as:
What is the demand in the fast food market?
What are consumer preferences regarding the fast food industry?
What are the market drivers for the fast food market?
Survey Period: November 25, 2022, to January 3, 2023
Survey Agency:
Survey Contractor: Market Insights Reports
House Survey
Subjects: 500 key opinion leaders and corporate and customer end-users
A questionnaire asking various questions about the technologies and prices used in the final application was conducted.
Number of valid responses: (500)
Survey Method: 100 telephone surveys, 400 internet surveys
Survey Targets: Sales-oriented companies, end-use end-users.
What are the types of fast food markets?
What are the main channels through which fast food is purchased?
During the survey, it was found that due to the global rise of the consumer foodservice sector, the global fast food industry is gaining significant attention among consumers.
Fast food refers to food prepared in a short time in advance at street stalls, kiosks, or quick-service restaurants. They are primarily prepared using pre-cooked ingredients, resulting in a relatively short time to completion.
Our survey indicates that the fast food industry could grow exponentially due to the increasing purchasing power of consumers worldwide. Food delivery applications are increasingly expanding their reach and influence in the market. The number of restaurants and hotels offering quick service is increasing. However, this growth may be attributed to rapid globalization, industrialization, and urbanization in the market. Furthermore, changes in dietary habits and a shift in consumer preference towards tasty food could further complement demand.
