Fast Food Market Size Set to Reach USD 1,340.06 Billion by 2034 with Asia Pacific Leading Future Growth

According to Towards FnB, the global fast food market size is evaluated at USD 863.81 billion in 2025 and is projected to reach USD 1,340.06 billion by 2034, growing at a CAGR of 5% during the forecast period from 2025 to 2034. Driven by rapid urbanization, expanding middle-class populations, and shifting diets, the Asia Pacific region is projected to lead the fast food industry’s fastest growth toward 2034.

Ottawa, July 23, 2025 (GLOBE NEWSWIRE) -- The global fast food market size stood at USD 822.68 billion in 2024 and is expected to rise from USD 863.81 billion in 2025 to around USD 1,340.06 billion by 2034. This 5% CAGR outpaces the broader foodservice industry average of 3.8% and reflects sustained demand even in saturated markets like North America, according to study published by Towards FnB, a sister firm of Precedence Research.

The market is observing a humongous growth in the recent period due to factors such as affordability, convenience, taste, and a helpful factor supporting the hectic schedules of consumers these days.

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Market Overview & Potential

The fast food market involves preparation, sales, and complete management of services related to the fast food industry. Fast food today is one of the fastest-growing industries due to its multiple advantages to consumers. It is affordable, convenient to carry and eat, and is ideal to balance busy work schedules or manage lazy days when one doesn’t feel like cooking a proper meal. Hence, such circumstances have helped the growth of the fast food market.

Also, the affordability factor of fast food makes it popular among Gen Z with limited pocket money to enjoy good food, and for economically low-profile people to have a fulfilling meal at a lower price. The segment is also popular due to higher adoption of Western culture cuisine globally, such as burgers, pizzas, and café items.

Key Highlights of the Fast Food Market

• By region, North America dominated the fast food market in 2024, whereas the Asia Pacific is expected to grow in the foreseeable period due to an increasing working population and an enhancement in the standard of living of people.
• By product, the burgers and sandwiches segment led the market in 2024. On the other hand, the pizza segment is observing growth in the foreseen period due to the high inclination of consumers to order a pizza for any occasion or celebrations for a huge group of people.
• By service, the quick service restaurants segment led the fast food market in 2024, whereas the full-service restaurant segment is expected to grow in the forecast period due to high demand for a personalized meal and service.
• By cuisine, the American cuisine segment generated the maximum market share in 2024, and the Asia cuisine segment is observed as the fastest-growing region in the forecast period due to increasing demand for traditional cuisines with some fusion.
• By category, the non-vegetarian segment contributed the largest market share in 2024, whereas the vegetarian/vegan segment is growing with the highest CAGR in the foreseen period due to the high inclination of consumers towards a clean/plant-based diet for enhanced health benefits.
• By distribution channel, the takeaway/drive-thru segment led the fast food market in 2024; on the other hand, the delivery segment is expected to grow in the forecast period due to the growth of multiple online food delivery platforms.

The fast food industry is no longer just about convenience; it’s a $1.3 trillion powerhouse that is redefining dining experiences through innovation, healthier offerings, and tech integration," said Vidyesh Swar, Principal Consultant at Towards FnB.

New Trends in the Fast Food Market:

• Busy and hectic schedules of consumers today are enhancing the growth of the fast food market. Restaurants and food joints offering meal options and delivery services are helping consumers manage their schedules without any cooking.
• An increasing number of quick-service restaurants, delivering food in less time, is also helping the growth of the fast food market. Such restaurants help in delivering food in less time and allow people to manage their hectic lifestyles without cooking a proper meal.
• An increasing number of people preferring plant-based foods and drinks is also enhancing the growth of the market. Availability of such food options at lower prices and in multiple varieties at restaurants and food joints is also helping the growth of the fast food market. Consumers prefer to order such food options rather than cooking at home.
• For instance, in 2025, Domino’s rolled out an AI-powered voice ordering system across 1,000 stores in Asia, cutting average order time by 22%. Similarly, Swagino’s 3F model in India is redefining ultra-fast delivery.”

Top Companies in Fast Food Market & Offerings:

1. McDonald’s Corporation
   Offers a globally standardized menu of burgers, fries, breakfast items, and beverages, with a focus on speed, affordability, and consistency.
2. Yum! Brands, Inc. (KFC, Taco Bell, Pizza Hut)
   Operates a diverse portfolio of leading QSR brands serving fried chicken (KFC), Mexican-inspired food (Taco Bell), and pizza (Pizza Hut) across global markets.
3. Restaurant Brands International (Burger King, Popeyes, Tim Hortons)
   Owns and operates iconic fast food chains known for flame-grilled burgers (Burger King), Louisiana-style fried chicken (Popeyes), and coffee and baked goods (Tim Hortons).
4. Domino’s Pizza, Inc.
   Specializes in delivery and carryout pizza, leveraging a strong digital ordering platform and franchise model worldwide.
5. Subway
   Known for its customizable submarine sandwiches and salads, offering healthier fast food alternatives through a global network of franchised stores.
6. Starbucks Corporation
   Offers premium coffee beverages, teas, and light food items, with a strong emphasis on in-store experience, mobile ordering, and brand loyalty.

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Market Dynamics

What are the Growth Drivers of the Fast Food Market?

Multiple attributes help in the growth of the fast food market. Availability of a variety of food options, from multiple cuisines, is one of the major factors in the growth of the fast food market. Availability of such food options at affordable prices is another major factor driving the growth of the market. Hence, Gen Z and people from economically lower backgrounds are able to have a fulfilling meal at lower prices. The growth of online food delivery platforms and quick service restaurants is also aiding the growth of the market.

Challenge

Increasing Health Consciousness Hampering Market’s Growth

The increasing population of people focusing on good health and staying away from damaging foods is obstructing the growth of the fast food market. Consumers today are aware of the multiple health issues caused by high consumption of fast food, such as heart attack, high cholesterol, obesity, and digestive disorders. Hence, health-conscious consumers avoid consumption of fast food, restraining the growth of the market.

Opportunity

Advancing Technology helping the Growth of the Market

The advancing technology in the form of multiple food ordering apps and online platforms is helping the growth of the fast food market. Such applications and platforms help the growth of the market and allow consumers to order different types of foods and beverages online without the hassle of visiting the food outlet physically. Reward points, food coupons, and various other similar schemes also lure customers towards the fast food industry, helping the market’s growth. Availability of tracking options for consumers, personalized menu options, and various other similar options also aid in the growth of the fast food market.

Fast Food Market Regional Analysis

Which Region Dominated the Fast Food Market in 2024?

North America dominated the fast food market in 2024 due to multiple reasons, such as rising disposable income of consumers, along with a high preference for fast food options to manage a hectic lifestyle easily. Consumers in the region also prefer to eat different types of fast food options as they are affordable and convenient to carry while outdoors or while travelling. The US and Canada play a vital role in the growth of the market in the region. Rapid urbanization and rising disposable income, particularly in China, India, and Southeast Asia. Significant investment and expansion by both international chains and successful local brands adapting to regional preferences

Which Region is Observed to Grow at the Fastest Rate in Fast Food Market?

Asia Pacific is observed to be the fastest growing region in the foreseen period due to multiple reasons such as rising working population, urbanization, and improving standards of living. The fast food market is observed to be growing in the Asia Pacific due to the rise of vegans and people preferring a clean diet.

Today, consumers are aware of the benefits of eating clean and hence prefer veganism or vegetarianism. Hence, such factors also help in the growth of the market. Countries like India, China, Japan, and Korea play a major role in the growth of the market in the region due to rapid urbanization.

Fast Food Market Report Scope

Report Attribute	Key Statistics
Base Year	2024
Forecast Period	2025 to 2034
Growth Rate from 2025 to 2034	CAGR of 5%
Market Size in 2024	USD 822.68 Billion
Market Size in 2025	USD 863.81 Billion
Market Size by 2034	USD 1,340.06 Billion
Dominated Region	North America
Fastest Growing Region	Asia Pacific
Regions Covered	North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

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Fast Food Market Segmental Analysis

Product Analysis

The Burgers and Sandwiches Segment dominated the Fast Food Market in 2024

The burgers and sandwiches segment dominated the fast food market in 2024 due to its high demand by consumers from different age groups. Such food options are affordable and convenient to consume and carry outdoors, and hence are highly preferred. Burgers and sandwiches are highly preferred by consumers with busy lifestyles, Gen Z, and people in search of affordable food options. Hence, the segment dominated the fast food market in 2024.

The pizza segment is observed to be the fastest growing in the foreseen period due to its high demand on various occasions like parties and get-togethers. Consumers prefer to order pizzas during parties or in case of huge gatherings as it is a delectable and affordable option to treat such huge numbers. The convenience of ordering a pizza online at the last minute, as well as fulfilling meal options, makes it a growing segment helpful for the growth of the fast food market.

Service Analysis

Quick Service Restaurants led the Fast Food Market in 2024

The quick service restaurants, with the help of online food delivery applications and platforms, helped the growth of the fast food market in 2024. Such applications allow people to order food online without the hassle of visiting a restaurant or food joint physically. Such restaurants allow people to get food delivery in less time, which helps to manage their hectic lifestyles easily. Hence, the quick restaurant segment helped the growth of the fast food market.

The full-service restaurants are expected to be the fastest growing in the expected timeframe due to their multiple features. Consumers can enjoy personalized and customized menu experiences in such restaurants at low prices, allowing consumers from economically low profiles and Gen Z to help the growth of the market. Such restaurants also provide meals in less time, along with providing different types of food options, such as food made from specialized ingredients and plant-based food options for vegans. Hence, the segment is observed to be the fastest growing in the forecast period.

Cuisine Analysis

The American Cuisine Segment dominated the Fast Food Market in 2024

The American cuisine segment dominated the fast food market in 2024 due to its high demand globally. The cuisine type involves a fusion of foods globally and hence is highly preferred by consumers of all age groups. Hence, the segment dominated the fast food market in 2024.

The Asian cuisine segment is observed to be the fastest growing in the foreseen period due to its high demand by consumers of all age groups. Cuisines from different parts of Asia, such as India, China, Japan, Thailand, and Korea, are highly popular among people due to their authentic taste and delectable experience. Hence, the cuisine is highly preferred by consumers of all age groups. The cuisine also offers plant-based food options for vegans as a cleaner source of protein. Hence, the segment is observed to be the fastest growing in the foreseen period.

Category Analysis

The Non-Vegetarian Segment dominated the Market in 2024

The non-vegetarian segment dominated the fast food market in 2024 due to high demand for non-veg food options globally, leading to the growth of the segment. The growing population preferring non-veg food options also led to the growth of the market globally in 2024. High demand for non-veg food options such as meat burgers, kebabs, fried meat, and grills globally is a major growth factor for the market.

The vegetarian segment is observed to be the fastest growing in the foreseen period due to the rise of vegans and the population preferring a clean diet. Hence, today, different types of restaurants and food joints have vegetarian and vegan food options available for such consumers, helping the growth of the fast food market in the foreseeable period.

Distribution Channel Analysis

The Drive-Thru Segment dominated the Market in 2024

The takeaway/drive-thru segment dominated the fast food market in 2024 due to its multiple benefits, such as convenience, lower costs, and the convenience of getting food while outdoors or while traveling. The segment allows consumers to get food within a shorter time outdoors or while traveling, helping them save time.

The delivery segment is observed to be the fastest-growing segment in the foreseen period due to the growth of e-commerce platforms and online food delivery apps, helping consumers get food in the quickest time period. Such applications and platforms help consumers get food conveniently without visiting a food outlet physically. Also, in today’s generation, restaurants and various food businesses gather a major chunk of income with the help of online food delivery applications and e-commerce platforms.

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Additional Topics Worth Exploring:

• Fast Food Digital Transformation Market: The global fast food digital transformation market size is positioned for rapid expansion, with projected revenue growth over the next decade.
• Food Ingredients Market: The global food ingredients market size is projected to expand from USD 368.70 billion in 2025 to USD 567.09 billion by 2034, growing at a CAGR of 4.9% during the forecast period from 2025 to 2034.
• Automation in Food Warehousing Market: The global automation in food warehousing market size is projected to expand from USD 4.58 billion in 2025 to USD 11.91 billion by 2034, growing at a CAGR of 11.2% during the forecast period from 2025 to 2034.
• U.S. Pet Food Market: The U.S. pet food market size is projected to witness strong growth from USD 45.39 billion in 2025 to USD 66.88 billion by 2034, reflecting a CAGR of 4.4% over the forecast period from 2025 to 2034.
• Specialty Food Ingredients Market: The global specialty food ingredients market size is projected to witness strong growth from USD 113.01 billion in 2025 to USD 179.87 billion by 2034, reflecting a CAGR of 5.3% over the forecast period from 2025 to 2034.
• Food Premix Market: The global food premix market size is projected to expand from USD 8.21 billion in 2025 to USD 15.48 billion by 2034, growing at a CAGR of 7.3% during the forecast period from 2025 to 2034.
• Infant Formula Foods Market: The global infant formula foods market size is projected to rise from USD 100.45 billion in 2025 to USD 240.75 billion by 2034, growing at a CAGR of 10.2% during the forecast period from 2025 to 2034.
• Private Label Food and Beverages Market: The global private label food and beverages market size is projected to witness strong growth from USD 255.90 billion in 2025 to USD 393.60 billion by 2034, reflecting a CAGR of 4.9% over the forecast period from 2025 to 2034.

Leading Players in the Fast Food Market

• McDonald’s Corporation
• Yum! Brands, Inc. (KFC, Taco Bell, Pizza Hut)
• Restaurant Brands International (Burger King, Popeyes, Tim Hortons)
• Domino’s Pizza, Inc.
• Subway
• Starbucks Corporation
• Chick-fil-A, Inc.
• Wendy’s Company
• Papa John’s International, Inc.
• Dunkin’ (Now under Inspire Brands)
• Chipotle Mexican Grill
• Panera Bread
• Jack in the Box Inc.
• Dairy Queen (Berkshire Hathaway)
• Inspire Brands (owns Arby’s, Sonic, Jimmy John’s, etc.)
• Jollibee Foods Corporation
• Nando’s Group
• Little Caesars Enterprises, Inc.
• Zaxby’s Franchising LLC
• Shake Shack Inc.

Recent Developments in the Fast Food Market

• In June 2025, McDonald’s shares dipped by 1.7% on 10th June 2025 due to growing demand for popular weight-loss drugs like Ozempic in North America, cutting the growth of the fast-food business. (Source- https://economictimes.indiatimes.com)
  
• In April 2025, Swagino, India’s fastest-growing quick food delivery platform, launched its 3F model, standing for Fair Pricing, Ultra-Fast Delivery, and Supply of Freshly Prepared food items from trusted local restaurants. The quick food delivery platform is sure to be a huge competitor for renowned food delivery platforms such as Swiggy and Zomato. (Source- https://www.business-standard.com)

Segments Covered in the Report

By Product Type

• Burgers & Sandwiches 
• Pizza
• Fried Chicken
• Asian/Latin American Cuisine
• Bakery & Café Products
• Seafood & Others

By Service Type

• Quick-Service Restaurants (QSRs) 
• Takeaway & Drive-Thru 
• Full-Service Fast Food
  

By Cuisine Type

• American 
• Italian: 
• Asian (Chinese, Japanese, Korean, Thai, Indian) 
• Mexican & Latin American

By Category

• Non-Vegetarian 
• Vegetarian & Vegan 
• By Distribution Channel
• Dine-In
• Delivery 
• Takeaway/Drive-Thru 

By Region

North America

• U.S.
• Canada

Asia Pacific

• China
• Japan
• India
• South Korea
• Thailand
  

Europe

• Germany
• UK
• France
• Italy
• Spain
• Sweden
• Denmark
• Norway

Latin America

• Brazil
• Mexico
• Argentina
  

Middle East and Africa (MEA)

• South Africa
• UAE
• Saudi Arabia
• Kuwait

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