The fast-food industry is an ever-growing trend. It has an average annual growth rate but is expected to grow even more in the future, especially due to the ongoing pandemic and online food delivery market.
In order to give you all the facts and expected predictions, we have 12 fast food industry growth statistics that will make you understand the growing trend of this billion-worth industry.
What are the predictions and expectations, what is average annual revenue, and why is the USA often referred to as a fast-food giant? Find all the answers (and more) in our article!
Top 4 Fast Food Industry Growth Statistics (Editor’s Pick)
- The fast-food industry is expected to have a growth rate of 4.6%.
- There could be an increase of 15.8% in the USA fast-food market.
- There are 897,683 fast-food businesses around the globe.
- The fast-food industry growth led to a 35% employment increase.
12 Fast Food Industry Growth Statistics
1. The global fast-food market is expected to be worth at least $647.7 billion in 2021.
We’re at the end of 2021 and it was calculated that for now, the global fast-food market is worth at least $647.7 billion. Some researchers said that the revenue will exceed $885 billion this year.
Source: Market Data Forecast
2. The industry is believed to have a growth rate of 4.6% per year by 2028.
The study from the Grand View Research stated that the global fast-food industry might have a growth rate of up to 4.6% per year. This is the envisioned rate between 2021 and 2028.
Source: Grand View Research
3. USA fast-food restaurants had an annual growth of 2.4%.
According to the IBISWorld, fast-food restaurants industry in the USA has grown 2.4% per year from 2016 to 2021. That percentage is quite satisfying for the USA industry.
4. The global fast food industry has an increase of around 1.1% per year.
Speaking of global industry, it is noticed that it has held a steady 1.1% of increase for decades now. There is no doubt that the increase will get bigger in the upcoming years.
5. An increase of 15.8% is expected in the USA fast-food market by the end of the year.
The USA is a fast-food giant. And such a growth rate in the USA alone is rather big. No wonder it is often said that the United States accounts for 32.7% of the global fast-food revenue.
6. Quick service delivery sector is expected to reach up to $33.2 billion by 2022.
Speaking of the USA fast-food market, the study made by Statista showed that quick service delivery can reach a revenue of $33.2 billion in the USA by 2022. America is truly a fast-food giant.
7. American industry grew from 75,000 fast-food locations to 200,000.
In 1972, there were 75,000 fast-food locations in the USA. Now, there are more than 200,000 of them.
Source: Yahoo! Finance and Statistics & Data
8. There are 897,683 fast-food businesses around the globe.
The fact that the fast-food industry is constantly growing and spreading, this number of fast-food businesses has surely already grown. This also led to new job openings, as well as to the high turnover employment rate which gives a bad reputation to the fast-food sector.
9. The top ten fast-food brands globally are coming from the USA.
According to the study made by SpendMeNot, last years’ top ten fast-food brands are all originally from the United States. Speaking of a fast-food giant, right?
10. The fast-food industry growth led to a 35% employment increase.
Since the industry is rapidly growing, such action increased the number of people employed in QSR by 35% since 2010. QSR, Quick Service Restaurants, is definitely a growing trend.
11. KFC opened 896 new outlets, while Taco Bell plans to open 600 of them.
KFC has strong year-on-year growth and between 2019 and 2020, the company opened 896 new restaurants globally. Taco Bell on the other hand plans to open 600 restaurants in India in the next 10 years.
Source: SpendMeNot and CNN Business
12. By the end of 2021, the online food delivery market will be worth more than $151 million.
There are high expectations of revenue growth of the fast-food industry due to the rising popularity of the online food delivery market. This trend of ordering has definitely grown during the COVID-19 pandemic too.
To Wrap It Up
The growth of the fast-food industry can be seen on a daily basis. Opening new stores, outlets, and restaurants, using technology to spread, and having approachable and easy-going meal options, are certainly the main factors for such good growth results. However, this industry is tough and harsh, and there are some crucial statistics you should know about before praising the entire fast-food sector. All in all, this industry will definitely have more growth, in all its sectors.