Global fast food market to reach $384b by 2030
This will be driven by convenience, tech innovation, shifting consumer preferences, and global expansion.
The global market for fast food & quick service restaurants, valued at US$316.1b in 2024, is projected to reach $384b by 2030, rising at a compound annual growth rate (CAGR) of 3.3%, according to Research and Markets’ report.
The growth in the fast-food and quick-service restaurant market is driven by a combination of convenience, technological innovation, evolving consumer preferences, and global expansion.
The report noted that the rising number of dual-income households has also fuelled demand for convenient meal solutions as families and individuals seek time-efficient alternatives to home-cooked meals.
The Independent Restaurants segment is expected to reach $245.8b by 2030 with a CAGR of 3%.
The chain restaurant segment is also set to rise at 3.8% CAGR over the analysis period.
The China market is forecasted to rise at 6.3% CAGR to reach $78.9b by 2030.
