(Entertainment-NewsWire.com, July 14, 2024 ) As per Maximize Market research, the fast-food size was valued at USD 784.24 Bn in 2023 and the total revenue is expected to grow at 4.9% from 2024 to 2030, reaching nearly US$ 1096.22 Bn.
According to Maximize Market Research, the Fast Food Market is a dynamic and powerful sector within the global economy, driven by urbanization, hectic lifestyles, and consumer demand for convenience. The market continues to grow, particularly in regions like North America, dominated the global market with the share of around 35.3% in 2023 and is expected to grow at a CAGR of 3.5% from 2024 to 2030, and Asia Pacific with a 24.7% share in 2023. Developing markets such as China and India are showing huge opportunity for the fast food market in the future.
Key segments include Quick Service Restaurants (QSRs), which accounted for 53% of the market in 2023, and Asian/Latin American food, which is expected to grow at a CAGR of 3.4%. Major players dominate the market, but smaller chains are also gaining popularity. As the industry evolves, digital technology and delivery services are enhancing customer experiences and operational efficiency.
Maximize Market Research is leading Food & Beverages research firm, has also published the following reports:
Seafood Market size was valued at USD 37.84 Bn in 2023 and is expected to reach USD 171.54 Bn by 2030, at a CAGR of 24.10 %.
Food Additives Market size was valued at USD 152.22 Bn. in 2023 and the total Market revenue is expected to grow at a CAGR of 5.5 % from 2024 to 2030, reaching nearly USD 221.43 Bn.
About Maximize Market Research
Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defense, and other manufacturing sectors.
