Fast Food Market 2022 Global Market Report: Impact of the Ukraine-Russia War

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The major players in the fast food market are Auntie Anne’s Inc., Cinnabon Franchisor SPV LLC, Domino’s Pizza Inc., Dunkin’ Brands Group Inc, Hardee’s Restaurants LLC, Firehouse Restaurant Group Inc., Jack in the Box Inc.

New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Fast Food Market Global Market Report 2022: Ukraine-Russia War Impact” – https://www.reportlinker.com/p06365029/?utm_source =GNW
, McDonald’s Corporation, Restaurant Brands International Inc., Yum! Brands Inc., Doctor’s Associates Inc., CKE Restaurants Holdings Inc., Wallace Foods Inc., Inspire Brands Inc. and Chipotle Mexican Grill Inc.

The global fast food market is projected to grow from US$575.31 billion in 2021 to US$628.55 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war has cut short the chances of a global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, increased commodity prices, and supply chain disruptions, affecting many markets around the world. The fast food market is projected to grow to USD 802.62 billion in 2026 at a CAGR of 6.3%.

The fast food market is the sale of fast food by entities (organizations, sole proprietorships and partnerships) used to quickly provide customers with a fast and convenient food option. Fast food is a quickly prepared food option that is cheap and readily available.

Convenience and taste are the main strengths of fast food. In recent times, efforts have been made to improve the nutritional content and healthiness of fast food by adding healthy ingredients.

The main types of fast food services are on-premise, delivery and take-out. On-premise fast food service marketplaces are used to provide customers with food and a place to sit down and enjoy fast food.

The on-site restaurants offer guests an opportunity to sit back, relax and enjoy delicious meals in a great setting with a great experience. Fast food products include seafood, Latin American food, chicken, sandwiches, hamburgers, pasta and others.

Different end users include quick service restaurants, fast-casual restaurants, and others.

North America was the largest region in the fast food market in 2021. Asia-Pacific is expected to be the fastest growing region over the forecast period.

Regions covered in Fast food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.

The growing number of restaurants is a key factor contributing significantly to the growth of the fast-food market. The basic goal of a restaurant is to provide food and drink.

Since fast food takes less time to prepare, this allows restaurants to cater to large clientele. For example, according to FinancesOnline, a US-based platform for SaaS (Software as a Service) or B2B (Business-to-Business) financial product and software reviews, there were over a million restaurants in the US employing 15.6 million people in 2021 and 101,811 restaurant chains in the US as of 2021. Thus, an increasing number of restaurants and hotels are driving the growth of the fast food market.

The new advancement in online food delivery is a key trend that is gaining popularity in the fast food market. Major companies operating in the fast food market are coming up with new ways to improve the online food delivery experience for customers.

For example, in April 2019, Co-op Food, a UK-based food retail business of The Co-operative Group, launched a new online delivery service using electric cargo bikes. The new service would initially be made available to customers within a 4 kilometer radius of the Kings Road store in Chelsea, London.

Orders would first be filled using human-powered electric bicycles with a zero-emission electric motor to help. Merchandise prices are the same as in-store prices, with a delivery charge of $6 (£5) and a minimum purchase requirement of $18.26 (£15). New delivery service provides a quick and flexible way to shop, with a selection of over 1500 products available to order, including spirits, between 9am and 10pm

In November 2021, Restaurants Brands International, a US-based fast-food restaurant chain, acquired Firehouse Subs for a reported $1 billion. ability to grow Firehouse Subs as a global brand.

Firehouse Subs is a chain of fast-food restaurants based in the United States.

Countries covered in Fast food market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom, United States.

The Fast Food Market Research report is one of a series of new reports that provide fast food market statistics, including global fast food industry market size, regional share, competitors with fast food market shares , detailed fast food market segments, market trends, opportunities, and any additional data you may need to thrive in the fast food industry. This Fast Food Market Research Report provides a comprehensive perspective of everything you need to know, with in-depth analysis of current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06365029/?utm_source=GNW

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