The Latest Global Fast Food Industry Statistics Explained
Global fast food market size was valued at approximately $647.7 billion in 2021.
The statistic indicates that the total revenue generated by the global fast food industry was approximately $647.7 billion in the year 2021. This value represents the combined sales of fast food restaurants worldwide and highlights the significant economic impact of this industry on a global scale. The size of the fast food market reflects the widespread popularity and consumption of fast food products across various regions and demographics. Additionally, the substantial monetary value emphasizes the immense competition among fast food chains and their continuous efforts to innovate, expand, and attract customers in a highly competitive market landscape.
Industry’s revenue expected to increase with a CAGR of 4.6% from 2020 to 2027.
This statistic indicates that the industry’s total revenue is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.6% over the period from 2020 to 2027. This means that, on average, the industry’s revenue is anticipated to increase by 4.6% each year during this time frame. The CAGR is a useful measure for understanding the consistent annual growth rate of revenue over multiple years, providing a smoother representation of growth compared to simple annual growth rates. The forecast suggests a positive outlook for the industry’s financial performance, with steady growth expected over the specified period.
McDonald’s held the largest share of the fast food industry in 2020, with 17.17% of the market.
The statistic “McDonald’s held the largest share of the fast food industry in 2020, with 17.17% of the market” indicates that McDonald’s had the highest proportion of market share relative to other fast food chains in 2020. This means that out of all the revenue generated by the fast food industry in that year, McDonald’s accounted for 17.17% of it, making it the leader in the industry. This statistic reflects McDonald’s strong presence and popularity within the fast food market, highlighting its competitive advantage over other fast food chains. It suggests that McDonald’s was the preferred choice for consumers compared to its competitors in 2020.
The Asia-Pacific region holds the largest share in the quick-service restaurants market, reaching 41.07% in 2020.
The statistic indicates that in 2020, the Asia-Pacific region had the highest proportion of market share in the quick-service restaurants industry, accounting for 41.07% of the market globally. This suggests that quick-service restaurants in countries within the Asia-Pacific region have a significant presence and influence in the industry, potentially due to factors such as population size, consumer preferences, economic growth, and the popularity of fast food dining. The high market share in the region likely signifies a strong demand for quick and convenient dining options, leading to a dominance of quick-service restaurants compared to other regions worldwide.
In 2020, Yum. Brands had 49,247 units, making it the company with the most restaurants.
In 2020, Yum. Brands had 49,247 units, representing the highest number of restaurants among all companies. This statistic highlights Yum. Brands’ extensive presence in the global restaurant industry, encompassing popular chains like KFC, Pizza Hut, and Taco Bell. The sheer volume of units underscores the company’s widespread reach and consumer popularity, as well as its successful business operations and strategic expansion efforts. Yum. Brands’ top position in terms of restaurant count indicates its strong market presence and competitive advantage in the highly competitive food service sector.
North America fast food market revenue reached $255 billion in 2020.
The statistic that the North America fast food market revenue reached $255 billion in 2020 indicates the total amount of money generated by the fast food industry across the North American region during that year. This revenue figure encompasses sales from various fast food chains and establishments, reflecting the significant economic impact and consumer demand for quick-service dining options. The data highlights the size and scale of the fast food market in North America, emphasizing its importance within the food and beverage sector and its role in driving economic activity and job creation within the region.
In 2020, delivery sales of fast food restaurants rose by approximately 20%, driven by the COVID-19 pandemic.
The statistic implies that in the year 2020, there was a significant increase of about 20% in the delivery sales of fast food restaurants compared to the previous year. This growth can be attributed to the impact of the COVID-19 pandemic, as restrictions on indoor dining and stay-at-home orders led to a surge in demand for food delivery services. Fast food restaurants quickly adapted to the changing consumer behavior by focusing more on delivery options, thereby experiencing a boost in sales. The 20% increase in delivery sales serves as a clear indicator of how the pandemic influenced consumer habits and drove the expansion of the fast food delivery market during that time.
McDonald’s spends over $449 million annually on advertising worldwide.
The statistic that McDonald’s spends over $449 million annually on advertising worldwide indicates the substantial financial investment the company allocates towards promoting its brand and products across various markets. This significant advertising expenditure underscores McDonald’s commitment to maintaining and increasing its market presence, driving customer engagement, and ultimately, boosting its sales and revenue. By dedicating a substantial portion of its budget to advertising globally, McDonald’s aims to reach a wide audience and influence consumer behavior, highlighting the competitive nature of the fast-food industry and the importance of effective marketing strategies in achieving business success.
Subway is the largest fast-food chain globally in terms of outlet numbers, with over 41,600 locations as of 2020.
The statistic that Subway is the largest fast-food chain globally in terms of outlet numbers with over 41,600 locations as of 2020 highlights the widespread presence and popularity of the chain on a global scale. Having such a vast number of outlets indicates not only the brand’s extensive reach but also its ability to cater to a diverse customer base across different countries and regions. This statistic reflects Subway’s successful business model and may suggest that it has effectively capitalized on consumer preferences for its offerings. Additionally, the sheer magnitude of its presence implies a strong competitive advantage in the fast-food industry, positioning Subway as a significant player in the global market.
Global revenue of Burger King was $21 billion in 2020.
The statistic states that Burger King, a popular fast-food chain, generated a total global revenue of $21 billion in the year 2020. This figure reflects the total amount of money that Burger King earned from its various operations worldwide during that specific year. The revenue includes sales from menu items, franchise fees, and other sources of income related to the business. This statistic indicates the financial success and scale of Burger King’s operations in the global fast-food industry, highlighting its significant market presence and consumer demand for its products during the specified time period.
The Middle East and Africa’s fast-food market size was valued at $25.49 billion in 2020.
The statistic that the Middle East and Africa’s fast-food market size was valued at $25.49 billion in 2020 represents the total monetary value of all fast-food offerings from establishments in this region during that year. This figure is significant as it provides insight into the economic impact of the fast-food industry in these regions, indicating the level of consumer demand for convenient meal options. The size of the market demonstrates the scale of the industry’s operations and highlights the potential for growth and investment opportunities within the fast-food sector in the Middle East and Africa.
Globally, millennials are the demographic group most likely to eat at fast food restaurants, with 70% reporting eating fast food at least once a week.
The statistic highlights that globally, the millennial demographic is the most frequent consumer of fast food, with 70% of individuals in this age group reporting that they eat fast food at least once a week. This indicates a strong preference for convenience and quick dining options among millennials, which may be driven by factors such as busy lifestyles, limited time for meal preparation, and the affordability of fast food compared to other dining options. The high frequency of fast food consumption among millennials also suggests a potential impact on their overall diet and health, given the often high caloric and less nutritious nature of many fast food offerings. This statistic underscores the significance of understanding generational preferences and behaviors in the fast food industry, as well as the potential implications for public health and dietary habits.
Fast food fried chicken segment is expected to reach $92.5 billion by 2027, demonstrating a CAGR of 5.5%.
The statistic indicates that the fast food fried chicken segment is forecasted to grow substantially, reaching a market value of $92.5 billion by the year 2027, with a compound annual growth rate (CAGR) of 5.5%. This suggests a steady increase in revenue over the forecast period. The CAGR of 5.5% demonstrates a consistent rate of growth for the industry, indicating sustained consumer demand for fast food fried chicken products. This growth trend could be attributed to factors such as changing consumer preferences, new product innovations, aggressive marketing strategies, and increasing global expansion of fast food chains specializing in fried chicken. The statistic highlights the significant economic impact and market potential of the fast food fried chicken segment in the coming years.
The global pizza market is predicted to reach $233.26 billion by 2023.
The statistic indicates that the global pizza market is expected to reach a total value of $233.26 billion by the year 2023. This projection suggests significant growth and demand in the pizza industry worldwide over the upcoming years. Factors contributing to this growth may include changing consumer preferences, an increase in disposable income leading to higher food expenditure, the convenience and popularity of pizza as a convenient meal choice, and the expanding reach of pizza delivery services. The prediction highlights the strength and resilience of the pizza market as a profitable sector within the food industry, with opportunities for businesses to capitalize on the continued trend of pizza consumption on a global scale.
The global fast food vegetarian food market was worth $10.9 billion in 2020.
This statistic indicates the total monetary value of the global fast food vegetarian food market in the year 2020, which was estimated to be $10.9 billion. This figure reflects the revenue generated by sales of vegetarian menu items specifically within the fast food industry on a global scale. The value of this market highlights the growing trend and increasing consumer demand for vegetarian options in the fast food sector, showcasing a shift towards healthier and more sustainable food choices among a significant portion of the population. The $10.9 billion market value underscores the economic significance and potential growth opportunities within the fast food vegetarian food space, signaling the importance of catering to evolving consumer preferences and dietary requirements in the food industry.
As of 2020, the global market for fast food reached around 802.53 billion U.S. dollars.
The statistic states that by the end of 2020, the worldwide market for fast food had grown to approximately 802.53 billion U.S. dollars. This figure represents the total revenues generated by the fast food industry globally during that year. The significant size of the market indicates the widespread popularity and consumption of fast food products across various regions and cultures. The growth of the fast food industry can be attributed to factors such as convenience, affordability, and changing dietary preferences, all of which have contributed to the steady expansion of the market over the years. The statistic underscores the immense scale and economic impact of fast food as a prominent sector within the global food industry.
Fast food industry employment in the U.S. is projected to reach 3.8 million by 2028.
The statistic that the fast food industry employment in the U.S. is projected to reach 3.8 million by 2028 indicates that there is expected growth in job opportunities within the fast food sector over the next few years. This projection suggests an increasing demand for fast food services and a corresponding need for more workers to meet that demand. Factors such as population growth, consumer preferences, economic conditions, and industry trends likely contribute to this projected increase in employment. This statistic can be valuable for policymakers, businesses, and job seekers in understanding the expected evolution of the fast food industry job market in the coming years.
In 2020, around 444k fast food industry establishments were recorded worldwide.
The statistic stating that around 444,000 fast food industry establishments were recorded worldwide in 2020 provides insight into the scale and prevalence of the fast food industry on a global level. This figure indicates the widespread presence and popularity of fast food establishments across different countries and regions, highlighting the industry’s significant role in the food service sector. The large number of fast food establishments also reflects consumer preferences for convenient and quick dining options, as well as the economic impact of the industry in terms of job creation and revenue generation. Additionally, this statistic underscores the competitive nature of the fast food market and the challenges faced by businesses in capturing and maintaining market share in a crowded and dynamic industry landscape.
References
0. – https://www.www.alliedmarketresearch.com
1. – https://www.www.statista.com
2. – https://www.www.grandviewresearch.com
