The North America Fast Food Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Fast food items have high accessibility across different countries that can be easily consumed at any location and any time. The growing popularity of fast food restaurants, or the quick service restaurants (QSRs), which provide international cuisines with great taste and convenience would surge the growth of the market.
The rise in the population of lethargic people who want meals to be delivered at home would bolster the growth of the fast food market in the upcoming years. Also, since app-based enterprises are providing attractive deals & offers along with the rising trend of online orders, the demand and growth of the fast food market would witness a spike in the forecast years. Moreover, the instant availability of healthy fast food among health-oriented consumers with various options and this would open new growth prospects for the market players.
The presence of key market players like Wendy’s, Dunkin’, McDonald's, and Burger King would accelerate the growth of the regional fast food market. Also, factors like the busy schedule of consumers, increasing demand for various international cuisines, and high disposable income, are anticipated to augment the regional market growth. The increasing number of food delivery apps like food panda would accelerate the growth of the regional fast food market during the forecast period.
The US market dominated the North America Fast Food Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $269,593.6 million by 2027. The Canada market would experience a CAGR of 9.5% during (2021 - 2027). Additionally, The Mexico market is poised to grow a CAGR of 8.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Fast Food Market is Estimated 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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