by Teresa Buyikian
Source: www.mediapost.com, March 2024
As much as things change, some things stay the same. In the last year we’ve seen the proliferation of international tastes in new QSR menus, such as Shake Shack’s Korean Style items and major growth from overseas chains such as Jollibee. Yet in a recent report by international market research company Research and Markets, found here, the very first fast food, the original foundation of all QSRs, still reigns supreme for fast food consumers worldwide: the burger.
Overall, the global fast food market is predicted to grow to $1,075.83 billion by 2030, up from $750.45 billion in 2023, per the report. And a lot of that growth will be in burgers.
“Burgers and sandwiches have one of the highest shares in the global fast food market,” according to the report. This is attributed to “enormous demand” due in part to increased burger options for consumers, such as choices in protein, as well as “food service providers experimenting with various cheeses, bacon, onions, and meatloaf fillings.”
Second to burgers are the aforementioned international flavors, with “the Asian fast-food segment projected to register the most rapid increase,” which is attributed to “increasing (consumer) demand for diverse food products.”
Yet the diversity doesn’t end with Asia or Asian-inspired fast food; consumers are going global and seeking cuisines from emerging countries such as Brazil and India as well.
The study consisted of analytics from top fast food/QSR/coffee brands including Starbucks Corp., Papa John’s International Inc., Domino’s Pizza Inc., The Wendy’s Co., Performance Food Group, Yum! Brands, Inc., Restaurant Brands International Inc. and Kentucky Fried Chicken (KFC). Food categories studied included Pizza/Pasta, Burger/Sandwich, Chicken, Asian/Latin American Food and Seafood, among others.
