Fast food service consists of prepared food served quickly to consumers in a disposable container by a restaurant, food truck, store or street vendor. The fast food market is expected to grow at a significant rate driven by preference for convenience, growing urbanization and growth of the food processing industry. However, the adverse effects of fast food consumption on health is a restraint for market growth. There are a number of companies in this market and they try to expand their operation by investing in different countries and franchising, further promoting the global fast food service market. By product type, Asian/Latin American fast food is expected to have a significant market share due to the presence of many types of spices. The Asia Pacific region is estimated to have a considerable growth rate due to growing urbanization. The North America segment is expected to have a significant market share due to the presence of a large number of market players.
Increasing fast food penetration in developing economies
Growth of food processing industry
Movement towards healthier alternatives due to adverse effects of fast foods
In June 2019, Domino’s Pizza and Nuro, the robotics company partnered on autonomous pizza delivery using custom unmanned vehicle. Domino’s would use Nuro’s unmanned fleet to serve select Houston Domino’s customers who place order online.
In February 2018, Yum! Brands, one of the world’s largest restaurant companies, and Grubhub, the nation’s leading online and mobile takeout food-ordering company, announced a new partnership to drive incremental sales to KFC and Taco Bell restaurants in the U.S. through online ordering for pickup and delivery.
The fast food service market has been analysed through the following segments:
Delivery and Takeaway
Middle East and Africa