The global fast-food market size is expected to reach USD 813.9 billion by 2028, registering a CAGR of 4.6% over the forecast period, according to a new report by the publisher. The rise in disposable income and rapid globalization of the food industry are the key factors driving the market growth. The increasing middle-class population coupled with the advent of online delivery apps and e-commerce websites is compelling companies operating in the market to expand their reach through introducing new food varieties and flavors.

The COVID-19 pandemic has severely impacted the food and restaurant industry. Decreased consumer spending and disruptions in the supply chain affected the industry to a large extent. In addition, the increased awareness about the consumption of healthy foods affected the market growth during the pandemic. However, the market is expected to regain its demand post-pandemic owing to a rise in the number of fast-food franchises and increasing demand for online food deliveries. Furthermore, the rise in the working population is supporting market growth.

On the basis of product, the market has been categorized into pizza/pasta, burgers/sandwiches, chicken, Asian/Latin American, seafood, and others. The burgers/sandwich product segment accounted for the highest share of the global revenue in 2020 due to the wide availability of burger varieties in the market. Some of the players operating in the global market are McDonald’s, Burger King, and KFC Corp.

What is the growth rate of the Global Fast Food Restaurants industry in 2022?
The market size of the Global Fast Food Restaurants industry is expected to increase 3.7% in 2022.

Has the Global Fast Food Restaurants industry grown or declined over the past 5 years?
The market size of the Global Fast Food Restaurants industry has declined 0.1% per year on average between 2017 and 2022.

Is the Global Fast Food Restaurants industry expected to grow or decline over the next five years?
See our full analysis of the Global Fast Food Restaurants industry to understand if the industry market size is expected to grow or decline over the next five years.

How has the Global Fast Food Restaurants industry performed compared with other Global industries over the past five years?
The market size of the Global Fast Food Restaurants industry declined faster than the economy overall.

How hasthe Global Fast Food Restaurants industry performed compared with the Global Hotels and Restaurants sector?
The market size of the Global Fast Food Restaurants industry declined faster than the Global Hotels and Restaurants sector overall.

Where does the Global Fast Food Restaurants industry rank in terms of market size in 2022?
The Global Fast Food Restaurants industry is the 2nd ranked Global Hotels and Restaurants industry by market size and the 18th largest.

Fast food is mass-produced food designed for commercial resale, with a top priority being service speed. Fast food was created as a strategy to accommodate commuters, travelers, and wage workers. Our research team found:

• The United States has 197,653 fast food restaurant businesses as of 2021
• The US fast food industry market size (by revenue) is $296.6 billion as of 2021.
• The expected CAGR (compound annual growth rate) of the US fast food industry is 5.1% from 2020-2027.
• Globally, the fast food industry generated $797.7 billion in revenue over 2021.

US FAST FOOD INDUSTRY MARKET SIZE OVER TIME

FAST FOOD INDUSTRY GENERAL STATISTICS

The restaurant industry has always been a giant in the United States. Fast food restaurants are no different. On any given day in America, it’s estimated that 36.6% or 84.4 million adults consume some kind of fast food.

With this kind of data, it’s no wonder this segment of the restaurant industry continues to grow, despite COVID-19’s impact on the US economy. Consider these statistics:

• As of 2021, the market size of the US fast food industry, measured by revenue, is $296.6 billion.That’s over a quarter trillion a year in revenue. The fast food industry has held a steady increase of about 1.1% for decades. For comparison, in 2000, the fast food industry was worth $239.2 billion.
• As of 2020, there were 785,316 franchise owners of fast food restaurants in the United States.Franchising allows fast food companies to expand at a more rapid pace without needing to use borrowed funds. This also benefits the franchise owner, who benefits from well-run national advertising campaigns, expertise from fast food experts, and other resources individual entrepreneurs may not always have.
• In general, a meal costs $5 to $7 at a fast food restaurant, however that price has risen during the pandemic by an average of 6%.The average American spends $1,200 for a single individual within a year. The average American household also spends around 10% of their income on fast food over the course of a year.
• Globally, the fast food industry generated $797.7 billion in revenue over 2021.The US might be associated most with fast food dining, but there’s no shortage of fast food success in other countries. Still, 37% of the world’s fast food revenue coming out of America does say a lot about the country’s appetite for this type of dining experience.

No matter where you live, you can expect to see a fast food restaurant in the general vicinity of your location. Fast food restaurants can be in stand-alone areas, but are also often found inside of other, larger stores, malls, or rest stops. Here are some statistics to demonstrate just how big this industry giant is:

• • Hamburger-focused fast-food restaurants take up 31% of the fast food market.When people think of fast food, hamburgers are the first thing that usually come to mind. Statistics back this up, with nearly 1/3 of American fast food restaurants being primarily focused on hamburgers (like McDonald’s and Burger King). Pizza and sandwiches are the next most common items on the menu.

• • Subway is the largest franchised store in the United States, with 24,798 locations across the country.The store’s annual U.S. systemwide sales equate to $10.4 billion. California is the state with the most number of Subway locations, with 2,148 locations.
  • Based on the number of franchised stores, the sandwich fast food restaurant, Subway, takes first place.McDonald’s, which most notably sells hamburgers, comes in third place. Coffee and breakfast item fast food vendors, Starbucks and Dunkin’, take 2nd and 4th place respectively.

FAST FOOD COMPANIES RANKED BY NUMBER OF LOCATIONS

• The fast food industry employs approximately 3,450,120 individuals in the United States.The mean hourly wage for these employees is $11.80, with the mean annual age coming in at $24,540.
• There are 6.3 restaurants per 10,000 residents in Alabama—making it the state with the most fast food restaurants in America per capita.Nebraska and West Virginia follow with 5.4 and 5.3 restaurants per capita, respectively. As for the lowest fast food restaurants per capita, there are 1.9 restaurants per 10,000 residents in Vermont, making it the state with the least fast food restaurants in America. New Jersey follows with 2.0, New York with 2.1 per capita.

STATES WITH THE MOST FAST FOOD RESTAURANTS PER CAPITA

STATES WITH THE LEAST FAST FOOD RESTAURANTS PER CAPITA