Published Date: 22-Dec-2021
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According to a new report Global Fast Food Market, published by KBV research, The Global Fast Food Market size is expected to reach $1,044.61 billion by 2027, rising at a market growth of 7.8% CAGR during the forecast period.
On the basis of product, The Asian/Latin American fast food segment is estimated to record the fastest growth rate during the forecast period. In the U.S., the growing Hispanic population is estimated to fuel the demand for Mexican food. For example, according to the Simmons National Consumer Survey and the U.S. Census, approximately 110 million Americans have consumed tortillas in 2017.
Based on end-user, the growth of the segment would be driven by the increasing demand for various international cuisines. In addition, the introduction of various novel foods and flavors is anticipated to surge the growth of the segment. For example, McDonald’s released BTS meal, which is inspired by the popular Korean band to fulfill the shifting preferences and demands of consumers.
Based on Region, The Asia Pacific is estimated to witness the fastest growth rate in the fast food market during the forecast period. It is owing to the constantly changing preferences of consumers and the presence of a huge customer base. Along with that, the growth of the regional market would be driven by the increasing discretionary income of the consumers.
Full Report: https://www.kbvresearch.com/fast-food-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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