The Latin America, Middle East and Africa Fast Food Market would witness market growth of 8.8% CAGR during the forecast period (2021-2027).
Some of the growth factors for the industry are increasing consumer disposable income and the rising influence of food delivery apps. Along with that, the rise in the number of hotels and restaurants owing to the swift prohibition & globalization would bolster the growth of the fast food market in the upcoming years.
The high awareness among customers regarding the consumption of healthy food products is estimated to restrict the growth of the market over the forecast period. In addition, the rising importance of healthy lifestyle and food patterns among consumers and the growing cases of obesity may impede the growth of the market over the forecast period.
The increasing demand for various fast food items like burgers, sandwiches, pizzas, and many more and the rise in the number of fast food outlets across various nations of the region are among the key determinants augmenting the growth of the regional fast food market over the forecast period. Moreover, many consumers are eager to try out new varieties of food and international cuisines, which is creating lucrative opportunities for various market players to enter and prosper their business across the region.
The Quick Service Restaurants market dominated the Brazil Fast Food Market by End user in 2020, thereby, achieving a market value of $10,265.5 million by 2027. The Fast Casual Restaurants market would witness a CAGR of 7.8% during (2021 - 2027). Additionally, The Other End user market is estimated to grow highest CAGR of 9.2% during (2021 - 2027).
Based on Product, the market is segmented into Pizza/Pasta, Burgers/Sandwich, Chicken, Asian/Latin American, seafood, and others. Based on End User, the market is segmented into quick-service restaurants (QSRs), fast casual restaurants, and others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Fast Food Market is Predict to reach $1,044.61 billion by 2027, at a CAGR of 7.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Wendy’s International, Inc., Domino’s Pizza, Inc., Mcdonald’s Corporation, Restaurant brands international, Inc., Yum! Brands, Inc., Inspire Brands, Inc., Hardee's Restaurants LLC (CKE Restaurants Holdings, Inc.), Firehouse Restaurant Group, Inc., Focus Brands LLC (Roark Capital Group), and Subway (Doctor’s Associate, Inc.).
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