The fast-food industry is a rapidly growing industry worldwide. Fast food is loved in all the regions of the world. Excessive demand makes it available everywhere in the world. Whether they be street food stalls, local dine-in restaurant, or part of a chain of restaurants, all serve fast food. The global market statistics and reasons for the growth of this market are discussed.
The Fast food industry has a global market of more than $ 570 Billion Worldwide. The sector has been inclining at a rate of 2.9% every year in the US. The US alone holds $200 Billion of the global $570 Billion. The global increment is shared among the local entrepreneurs rising the market from the beginning and the highest sale restaurants like McDonald’s, Dominos, and Pizza Hut. The traditional Pizza industry holds 15% of the market share and is expected to reach $ 233.56 billion by 2023. Pizza industry alone has increased the consumption of cheese by 41% in the US since 1995.
Increased public demand is the main reason for the growth of an industry. It inspires entrepreneurs to raise market worth by providing higher availability and quality. As the fast food industry has a high demand in the market since many years, the market has a broad space for new rising names. The fast food market faces rivalry with the fast-casual market, which has seen fast growth in the market in the past decade. The fast-food market has seen no declining and very little inclining stats in the last 15 years. People love fast food but are also engaging in the fast-casual market at a higher rate.
Traditional Pizza is the leading choice of the market worldwide. Pizza specials are the most beloved with a broad selection of toppings. The most favorite traditional pizza topping, according to HarrisPoll®, is the pepperoni pizza topping. The halal pepperoni is also a widely loved topping because of its acceptance to the further world’s 24.8% population, which is the Muslim community.
Pizza has no time restrictions. In the US, it’s considered a breakfast meal. The global pizza consumption by children is 42% at lunchtime and 44% at dinner. Adults consider pizza as more of a dinner item. About 59% of adults all over the world to eat Pizza at dinner. Only 28% of the adults eat pizza at the lunch.
The favorite topping of all time has some interesting statistics. Nearly 700,000 pounds of pepperoni pizza is consumed daily in the USA alone. That is 344 tons of Pizza every day, and it is for a single favorite flavor only. Pepperoni Pizza topping is preferred by 36% of people.
Pizza lovers order pizza on the bases of a number of different toppings. The most preferred topping after Pepperoni Pizza are sausage topping which is preferred by 14% of the audience. The Mushroom toppings are preferred by 11% of the audience. Only cheese pizza is the demand of 8% of audience. And 7% audience demand only chicken topping on pizza. Pizza has a high market demand due to the vast amount of flavor choices and availability in the market.
All the food choices also require to choose a beverage. Coke is the most accepted beverage with fast food. It goes with any fast food choice and is a must for fast-food restaurants to serve.
Pizza café are the restaurants that offer pizza with the traditional café meals and drinks. Pizza café offer other food items such as Pasta’s, Ice creams and Coffee. Pizza Cafés providing a quality of food and ambience has a good impression on the market and are rising in number. People prefer Café for small meetings.
Pizza is available in all regions with the toppings preferred by the people of the region. Pizza is served by dedicated pizza parlors or any local or fancy restaurants. The demand makes it possible to the local parties to make it available at many remote areas. Pizza parlors has an emerging appearance in the market. Almost 80% of the pizza parlors in the world offer home delivery service along with take away services. That makes it available to a large audience at their door step. Such convenient ideas and the taste, of course, had made pizza one of the most popular meals of all times.
New pizza cafes are the rising stars of the industry. Introducing several topping depending on the local interests allowed many pizza parlors to attain a signature significance in different regions. Sinatra’s Pizza & café has a signature significance among pizza lovers in Australia.
Super Bowl Sunday is considered pizza day because of the most number of Pizza’s consumption on this day every year. The second best day for pizza consumption is Thanksgiving. People refer to pizza as happiness in a box.
Fast food chains have a high demand in the market due to the variety of tastes it offer and the availability in the market. The easy and quick foods are a blessing to the busy lives of people. Large audience prefer ordering a fast food than cooking any meals on their own because it’s made easier and cheaper by fast food chains and companies. The demand for fast food is to go higher in the upcoming years as it is a convenient meal.