Published on : May 05, 2016
Fast food refers to particular food items that are prepared in a very short time. In the last few years, the popularity of fast food has increased extensively across the globe. The trend of fast food has originated from America, as people in that region tend to eat meals outside frequently. Drive-thru and food-on-the-go are some of the common concepts in several parts of North America; whereas in Europe, people mostly like to take out time and converse while having their meals.
Some of the common types of fast food available in the global market are mentioned below:
The competition in the global fast food market is extremely intense owing to the presence of international as well as regional players engaged in this market. The growing popularity of fast food among all the age groups is further demanding more players to participate in the market with innovative product portfolio. The demand for tasty and convenient food in low prices is one of the major factors fuelling the growth of the market in the next few years. In addition, the growing disposable income among the population and changing food habits are further estimated to boost the demand for fast food in the near future.
Furthermore, the inclusion of healthy fast food on the menu, value-added services, and innovative marketing strategies are some of the key opportunities available for the major players in the global fast food market. Moreover, the companies are spending a huge amount on advertising and marketing activities, which is augmenting the growth of the market. However, the growing health concerns and fast food safety regulations are the major concerns, which are estimated to curb the growth of the market in the next few years.
The growing demand for fast food around the world has attracted the players to offer consumers with diverse food products and gain the competitive advantage in the market. Some of the dominating players operating in the global market for fast food are Yum! Brands Inc., Burger King Worldwide Inc., McDonald’s Corporation, Jack in the Box Inc., Wendy’s International Inc., Doctor’s Association Inc., and Domino’s Pizza Inc.