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While QSR giants like McDonald’s dominate the fast food market, do they satisfy consumers? Read more in our topic page on quick service restaurants in the U.S.
Introduction. Fast Food Industry Statistics: The fast food industry is a significant player in the global economy, with staggering numbers reflecting its widespread impact. In 2024, the industry's market value reached an impressive USD 957 billion, showcasing its immense scale and influence.
Fast Food Restaurants in the US industry analysis. While shifting consumer preferences and a crowded foodservice landscape, fast food restaurants have maintained a steady pace of growth. Over the five years to 2024, industry revenue has expanded at a CAGR of 3.2%, reaching $402.9 billion.
The global fast food market size was USD 862.05 billion in 2020 and is projected to grow from USD 972.74 billion in 2021 to USD 1,467.04 billion by 2028 at a CAGR of 6.05% during the 2021-2028 period. Europe dominated the fast food market with a market share of 38.94% in 2020.
The US fast food industry has a market size of $331.41 billion as of 2022. The expected CAGR (compound annual growth rate) of the US fast food industry is 5.1% from 2020-2027. The global fast food industry is worth $907 billion as of 2023. 37% or 50 million Americans consume fast food every day.
Published: 7/23/2024. Statistic 1. The average American spends about $1,200 on fast food per year. Statistic 2. About 22% of Americans consume fast food at least twice a week. Statistic 3. In 2021, the average daily sales for quick-service restaurants in the U.S. were $4,963. Statistic 4.
The global fast-food market size was valued at USD 595.93 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2022 to 2029. The rise in consumer spending and the growing influence of food delivery applications are the major factors driving the market growth. The COVID-19 pandemic adversely affected the ...