FAST FOOD MARKET ANALYSIS

Market Challenges And Opportunities

Global Fast Food Market Drivers:

Increasing number of fast food restaurants to augment market growth

Rise in the number of fast food restaurants is a key factor propelling fast food market growth. For instance, in 2019, Subway had around 41,600 stores worldwide, similarly McDonald, Starbucks, KFC, Pizza Hut, Restaurant Brands International, and Dunkin Donut had 37,855, 30,000, 23,000, 18,515, 25,809, and 9,200 worldwide stores, respectively.

Global Fast Food Market Opportunities:

The global fast food industry has huge market potential due to the growing consumer demand for convenience food. Many key players in the fast food market offer a wide range of products and are mostly franchised to minimize the overhead costs and increase flexibility. Some of the larger chains, such as McDonald's and Burger King, provide a consistent menu and quality experience worldwide to provide consumers with a familiar and reliable dining experience. Moreover, many companies are involved innovation for healthier options, including the use of organic ingredients and natural vegetables.

In order to compete with the growing competition, the global fast food market players are focusing on implementing innovative strategies and techniques. This is expected to bring bright market opportunities. This includes introducing new products and increasing the customer service. Moreover, they are also focusing on minimizing the usage of artificial preservatives in their food products. For instance, some of the largest burger chains have already begun switching to buns made from organic flour and have started reducing their use of antibiotics to raise their livestock. These efforts are expected to offer additional market growth opportunities to the players.

Global Fast Food Market Restraints:

Ill effects of fast food to hinder market growth

The major disadvantage of fast food is that it is mostly high in sugars, fats, salts, and calories and low in minerals and vitamins. This can lead to heart problems, poor digestion, obesity, and a lack of nutrients. This factor is expected to hamper the market growth.

Growing demand for fresh food to hinder fast food market growth

Another disadvantage of fast food is that it is not as fresh as homemade meals and is often prepared and stored in a way that reduces its nutritional value, such as by deep frying or using microwaves. In addition to this, some fast food product are very high in sodium. This is because it acts as a preservative and also enhances the flavor of certain dishes. However, fast food can also be a good option for people who have tight schedules and need to manage office work.