Industry Statistics and Trends
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 2.7 % over the past five years, to reach an estimated $1.1tr in 2024.
Trends and Insights
Developed economies and menu diversity shape the fast food industry's output
- Developed economies, particularly the United States, heavily impact the industry, with the nation accounting for over 30% of the total market share. Such prevalent presence of fast food businesses results in cutthroat product and price-based competition and unstable revenue growth due to market saturation.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Fast food restaurants face heat as consumer priorities shift
- Developed markets are bracing for increased competition, characterized by price wars and continuous product innovation. Therefore, major fast food chains are pursuing healthier alternatives to traditional red meat offerings. Roasted, steamed, or grilled chicken and seafood items are becoming popular substitutes in a bid to boost revenue and profits.
Biggest companies in the Global Fast Food Restaurants
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
McDonald's Corporation | 127,864.0 | 11,437.0 | 8.9 | |
Yum! Brands Inc. | 74,766.7 | 3,679.0 | 4.9 | |
Restaurant Brands International Inc. | 39,002.3 | N/A | N/A |
To view the market share and analysis for all 4 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Burger, Sandwich and Snack. Burger is the largest segment of the Global Fast Food Restaurants.
Trends and Insights
Burger restaurants represent the industry's largest income source
- The fast food industry is famously dominated by burger-centric restaurants, like McDonald's and Burger King, which contribute robustly to industry revenue through their primary burgers and French fries offerings.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
The Global Fast Food Restaurants industry is composed of restaurants where patrons pay for quick-service food products before eating. Purchases may be consumed on-site, taken out or delivered. Gross revenue is derived from both franchised and company-owned stores. Franchise fees are not accounted for in total industry revenue. Most of the industry's establishments also sell beverages, such as water, juice and sodas, but usually not alcohol.
What's included in this industry?
Operating quick-service restaurantsOperating fast food servicesOperating drive-through and takeout facilitiesCompanies
McDonald's CorporationYum! Brands Inc.Restaurant Brands International Inc.Purchase this report to view all 4 major companies in this industry.
Related Terms
FULL-SERVICE RESTAURANTSLIMITED-SERVICE RESTAURANTSQUICK-SERVICE RESTAURANTSPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The industry's attempts to respond to changes in consumer preferences have helped diminish the decline in fast food demand. However, consumers' increasing awareness of the he...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Due to the diverse and fragmented nature of the industry, many restaurants do not fit neatly into one category. For example, many burger restaurants also serve pizza and sand...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Revenue growth is largely affected by the population and per capita income within a specific region. Fast food restaurants tend to be concentrated in developed areas of the g...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Up-and-coming concepts have forced traditional fast food stalwarts to innovate to compete. The chicken sandwich war between fast food operators is an example of incumbents co...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
McDonald's is the industry leader, with nearly 20.0% of the market share. Major fast-food chains focusing on traditional fast food have experienced challenges as customers in...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of McDonald's Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Yum! Brands Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Restaurant Brands International Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for one additional company
Detailed analysis
- Description and key data for McDonald's Corporation, and factors influencing its performance in the industry
- Description and key data for Yum! Brands Inc., and factors influencing its performance in the industry
- Description and key data for Restaurant Brands International Inc., and factors influencing its performance in the industry
- Description, key data and performance trends for one additional company
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulations within the Global Fast Food Restaurants industry include franchise promotions and sales regulations by various government agencies. The regulations that affect th...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
The Global Fast Food Restaurants industry has high product turnaround. However, its relatively low profit makes it vulnerable to adverse changes in demand, including recessio...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Fast Food Restaurants industry in Global in 2024?
The market size of the Global Fast Food Restaurants industry in Global is $1.1tr in 2024.
How many businesses are there in the Global Fast Food Restaurants industry in 2024?
There are 548k businesses in the Global Fast Food Restaurants industry in Global, which has grown at a CAGR of 0.5 % between 2019 and 2024.
Has the Global Fast Food Restaurants industry in Global grown or declined over the past 5 years?
The market size of the Global Fast Food Restaurants industry in Global has been growing at a CAGR of 2.7 % between 2019 and 2024.
What is the forecast growth of the Global Fast Food Restaurants industry in Global over the next 5 years?
Over the next five years, the Global Fast Food Restaurants industry in Global is expected to grow.
What are the biggest companies in the Global Fast Food Restaurants market in Global?
The biggest companies operating in the Global Fast Food Restaurants market in Global are McDonald's Corporation, Yum! Brands Inc. and Restaurant Brands International Inc.
What does the Global Fast Food Restaurants in Global include?
Operating quick-service restaurants and Operating fast food services are part of the Global Fast Food Restaurants industry.
Which companies have the highest market share in the Global Fast Food Restaurants in Global?
The company holding the most market share in Global is McDonald's Corporation.
How competitive is the Global Fast Food Restaurants industry in Global?
The level of competition is high and increasing in the Global Fast Food Restaurants industry in Global.
Related Industries
Widen your competitive advantage with related industries
Competitors
- Global Convenience Store Chains
- Global Hotels & Resorts
Complementors
- Global Casinos & Online Gambling
- Global Tourism
International industries
- Fast Food Restaurants in the US
- Mexican Restaurants in the US
- Doughnut Stores in the US
- Pizza Restaurants in the US
- Fast Food Restaurants in Canada
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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