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Fast food market to grow by $87.27B by 2025
June 1, 2022
The fast food market will observe an incremental growth of $87.27 billion between 2020 and 2025, according to a Technavio report that revealed the market observed a 1.84% year-over-year growth in 2021.
The growth momentum is expected to accelerate at a CAGR of 2.45% during the forecast period, according to a press release.
The global fast food market is fragmented and the market is characterized by the presence of several large and medium-sized players and a few well-established vendors, according to the report. Market players are competing in terms of brand name, product innovation in their menu and other market conditions. During the forecast period, the market will witness the entry of new players, according to the release on the report findings. This is expected to intensify the level of competition among existing players.
About 45% of market growth will originate in APAC (Asia-Pacific), with China and Japan are the key markets.
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