North America was the largest market for fast food in 2012 due to preference for food on-the-go and demand for quick and convenient food in day-to-day life.
These findings come from a new market report by Transparency Market Research called Fast Food Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013- 2019.
Fast food varies from region to region, but some fast food categories are universal, such as burgers, pizza/pasta, chicken and noodles, among others.
Emerging countries such as India, China and Brazil are some of the fast growing markets for fast food and are expected to experience double-digit growth in the forecasted period.
The top emerging markets in terms of growth rate are Brazil, China, India, Russia, France, Saudi Arabia, South Africa and Vietnam.
The demand for processed fast food in these markets is more compared to natural fast food. The growth in these markets is supported by higher disposable income and demand for convenient, tasty, affordable food.
Geographically, the rest of the world and Asia-Pacific are expected to experience ‘robust growth’ in the next six years, whereas North America and Europe are declining markets in terms of the market share.
In 2012, North America held maximum percentage share for the fast food market globally, followed by Asia-Pacific. North America and Europe witnessed a shift in demand for Asian/Latin American fast food from conventional fast food such as burgers and pizza. In contrast, Asia-Pacific and the rest of the world are consuming more western, conventional fast food.
Local fast food chains are flourishing in their respective regions and are expected to capture greater market share due to their unique taste and cost-effective products. Some of the market leaders across the four geographies are:
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