Because restaurant food is available in quick service formats, informal formats, and more formalized sit-down locations, every demographic has something that will find something attractive about the industry. The United States Department of Labor reported that in 2019, the women’s employment rate was at 46%. (Franchise Help). Time efficiency Consumers of today are much busier than were before. They like fresh, less processed food, which has played out in their preference for fast-casual restaurants that offer freshly prepared foods and shopping the perimeter of grocery stores where fresh and non-packaged foods can be found. (Statista), Related Reading: How I Opened a Restaurant with No Money and a 540 Credit Score, In a study made by the Center for Disease Control and Prevention, in the period between 2013 to 2016, close to 36.6% of American adults ate fast food. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. The traditional family structure of a married heterosexual couple with children is no longer accurate, Hartman Group points out; nor will it ever be again. Nearly a century later, fast food chains imagined in the United States are globally recognized symbols of American culture and a growth industry earning hundreds of billions of dollars every year. Almost half of the fast-food customers either take out food or go to a fast-food chain at least once a week. In this industry report, we evaluate data that’s shaping the industry. "If you sit and stare at the plates along a fault line, you’re not going to observe any discernible difference from one moment to the next. While shrinking in size, this generation is still too large to ignore, especially given their expected lifestyle changes. 9 in 10 American kids go to a McDonald’s restaurant each month. Demographic information can be … We also provide data-backed predictions for the future of this essential industry. New and interesting ways to deliver food From pop-up restaurants to food trucks to fresh-food vending machines,.. The global fast-food industry generate north of $570 billion worth of revenue: A figure more than most countries’ economic-financial worth. Fast food has a great social impact on the life of people; it being one of the most crucial aspect in the rising of fatness or chubbiness in the young generation (Bowman, Gortmarker et al., 2004). Home; Uncategorized; identify recent demographic trends affecting the food truck industry ; Hello world! The fast-food chain has since cut it down to 38 grams, which is still way excessive to consume regularly. The fast food industry employs an estimated 3.7 million in the United States. (Qara). Published by at February 7, 2021. Fast food restaurants, along with fast casual restaurants, make up a segment of the restaurant industry know as Quick Service Restaurants (QSR). These forces will now be analyzed in relation to the fast food industry in India. How I Opened a Restaurant with No Money and a 540 Credit Score, 42 Hummus Industry Statistics and U.S. Copyright 2020 Foodtruckempire.Com | All Rights Reserved |. Australians eat out at an average of two to three times a week, which is more than 50 million meals per week. How Gen Z Is Beginning to Make Their Mark on Eating Trends. (Fast Food Marketing), Meat pies, hotdogs, and doughnuts are some examples of fast food being sold in convenience stores. It takes fewer calories, around 500-700, when you order a 6-inch sub rather than a foot-long. (HelpGuide). Restaurants without the drive-thru or easy pickup are being impacted the most. FreshFrom 2003 to 2013, consumption of fresh foods grew by 20 percent to more than 100 billion eatings and it’s the youngest generations, Generation Z and millennials, driving the trend. The food and beverage industry regularly gives the U.S. economy a boost. On the other hand, the trend towards healthy food can against the development of fast food. (Food Truck Nation) A $100,000 investment can result in a revenue … Aging Boomers The baby boomer generation is aging, considering retirement, becoming empty nesters and developing health ailments, all of which are typically associated with major changes in the way we approach food and beverage consumption. But a growing number of journalists, scholars, health campaigners and celebrity chefs blame fast food companies for contributing to global obesity. When we think fast food, we’re thinking about American food. (Allied Market Research), There is a projected increase of around 2% of the average sales of QSR brands by 2020 (pre-pandemic figure). According to a recent report from ING, technology helps food manufacturers produce more efficiently for a growing world population. Perhaps the best example is the use of self-checkout screens at fast food venues such as McDonalds, but it’s not the only one! Cooking is My Passion. An adult typically takes in 836 calories per serving of a fast food meal. These menus are ideal for mobile ordering and other technology advancements developed in the coming decade. “Macro food and beverage consumption behaviors are slow to shift, akin to the movement of the continental plates," stated Darren Seifer, NPD’s food and beverage industry analyst. Key Market Trends Preferred Fast Food Restaurants in Australia . This figure includes over half of Wendy’s and Dunkin’ Donuts’ advertising. While dine-in sales have still hurt some chains, the bottom line is quick-serve restaurants have been able to adapt much better than restaurants without a drive-thru. Results and Discussions Data analysis was conducted in two steps: 1) First round analysis that was based on basic factors that came in view through secondary data and analyzed demographic and psychographics of fast food consumers. We look at the need to decarbonise operations, products and supply chain; take a digital first approach; customer experience; destination versus local shopping; the consumer health market; leading with purpose; and creating a culture of inclusion. Africa will add 850 million new workers to its workforce by 2050. Just staying on top of a food truck’s marketing efforts involves enough work to be a full-time job. Fast food is defined as food that is quick to prepare and serve. Firstly, the global population is growing fast, primarily in developing regions. Globally, there are numerous McDonald’s stores spread over a hundred countries serving more than 40 million customers per day. Samples (FAQs about samples): Delivery: Files are delivered directly into your account within a few minutes of purchase. Globally, the fast food brands have to comply with these requirements. People between the ages of 18 and 29 at fast food restaurants at least once per week. An aspect of freshly prepared that suits millennials is menu components that are made to order or can be customized. Around 20% of American meals are consumed inside the vehicle, a concept which was not a statistic prior to the establishment of fast food. New trends and ideas about food impact the food industry and the companies that are involved. (. Subway has 44,229 locations scattered in 112 countries, while McDonald’s has a mere 36,900 stores spread in 119 countries. Find industry analysis, statistics, trends, data and forecasts on Fast Food Restaurants in Canada from IBISWorld. A central question that we address is whether the demographic and socioeconomic characteristics of a city affect the supply of fast food chains. The food truck industry is outgrowing the restaurant industry, 5.5% to 4.3% This owes to the fact that even with substantial startup costs, the food truck industry is being seen as a safer option. The number of robots in the European food industry is well over 30,000, while the number of robots per 10,000 employees rose from 62 in 2013 to 84 in … Demographics are the traits of a selected human population. No one knew who the Burger King, Wendy’s, or Ronald McDonald was prior to the mid 1900s. Perhaps the biggest implication millennials will have on the food and beverage industry is the generation's preference for delivery. The greatest purchaser of pork, beef, and potatoes in the world is McDonald’s. Consuming a complete fast food meal is typically equivalent to 37% of an individual’s daily calorie intake. There are regulations related to wages, hygiene and food quality that need to be complied with. Therefore, our research includes a geographical analysis to combine demographic, economic, and geographical data for each … A study collectively conducted by the University of California in Berkeley and Columbia University found that obesity occurrence among students rose by 5.2% whenever there was a fast-food chain inside an o.10 mile radius from any given school. The food service industry is perceived as being a “low tech, low intellectual” industry. Samples (FAQs about samples): Delivery: Files are delivered directly into your account within a few minutes of purchase. The political factors affecting fast food industry can vary from country to country. The food truck industry can expect this trend to be extended to food trucks as the demand for meatless protein options grows. Patrick Limdico is a Brand Journalist at FoodTruckEmpire.com. CHICAGO — The evolving demographics of America, including the growing influence of Hispanics and the changing life stages among millennials and baby boomers, is one of the key factors driving the shift in what and how consumers eat, according to The NPD Group. Fast Food Industry Stats and Growth Projections in 2021. A 2018 report from Mobile Food Trends and Off the Grid, 34% of food truck owners surveyed said that owning a mobile food truck business gives them the opportunity to experiment and test out new menu items and interesting concepts. Food is in on it too, according to Annabel Wray and Victoria Knight of Hakuna Foods, which caters for the entertainment industry. (Statista), Some believe that fast-food revenue in the U.S. reaches $200 billion and about $570 billion worldwide. A long time ago, the concept of fast food dining was considered a breakthrough in the restaurant industry. The quick-service restaurants led the fast-food market in terms of end-users (Food-Service Restaurants, Quick Service Restaurants, Caterings, and Others). The NPD Group provides market information and business solutions to drive better decision-making and better results. industry directly depends upon employment and per capital income. This segment accounts for more than 50% of sales in the entire restaurant sector. Stove-top preparation dominates Hispanic meals more than non-Hispanic meals due to the types of dishes being prepared. In 2010, "The Economist" reported that fast food chains were able to handle the 2008 recession better than pricier competitors. (Allied Market Research). The change in demographic can affect positively to fast food industry especially KFC. 80% of Americans dine in a fast-food restaurant at least once each month. 53% of Hispanics also say the same thing. "And if any single thing defines family structures today, it's diversity, and the fundamental lack of any one dominant type of fa… In-home, the Hispanic population combined with their adherence to dining traditions is beginning to influence national consumption patterns. This is expected to remarkably affect the industry landscape which was previously experiencing steady growth. Approximately 30 percent of the fast-food restaurants that exist are hamburger-focused. 37% of quick service restaurant users, defined as visiting a restaurant 2-6 times per week, are in the 18-34 age demographic. In 2010, "The Economist" reported that fast food chains were able to handle … Only 6.2% of applicants were hired by McDonald’s during their “Hiring Day” back in 2011. Off the desk, Pat watches basketball and racing, a tech addict, an avid follower of American T.V. (PartnersForYourHealth.com), Despite being the more famous fast-food chain in the world, McDonald’s does not hold the most number of locations around the world. Track key industry trends, opportunities and threats. Three-fourths of these ads appeared on Roblox.com, CartoonNetwork.com, and Nick.com (Fast Food Marketing). Additionally, as time-strapped consumers look to maximize their purchasing power without sacrificing f… We’re seeing various types of automation more and more in the food industry. By 2050, there will be 1.5 working age people for every one elderly person in Japan – in Nigeria there will be 15. Wendy’s recently reported that their drive-thru sales now accounted for 90% of sales in a recent quarter. The Whys & Why-Nots of C-store Loyalty Program Membership, Research Shows 'Blended Meals' Will Grow Over the Next Five Years, Restaurant Visits by Millennials With Children Ticked Up in 2018, Indulgent Snack Food Is Making a Comeback. (Franchise Help), Last year, the global fast-food market was worth $647.7 billion and was expected to hit $931.7 billion by the year 2027 with a 4.6% CAGR from 2020 through 2027 (pre-pandemic figures). This increase corresponds to having less time for women to cook meals, hence the increased consumption of fast food. (Eatthis.com). Deloitte’s annual report exploring the trends taking place across the retail industry in 2021. Holding on to existing customers is more important than ever, and that means being aware of demographic and economic trends and how they affect the wants and needs of your target market. This could explain why 54 percent of “super heavy” fast-food users (who eat fast food at least once a day) and 37 percent of “heavy” fast-food users (two to six times per week) are between the ages of 18 and 34, according to Technomic. Exploring fast food consumption behaviours ... 4.4.2 Demographic characteristics and fast food consumption _____ 110 4.4.3 Behaviours, motivators and context surrounding fast food consumption _____ 112 ... 7.2.5 Do social influences affect fast food consumption? Demographics may be the most significant factors affecting the success of a fast food restaurant. Undeniably, McDonald’s is the most famous fast-food chain around the world. What has more sugar than eating more than two and a half Snickers bars? What Does ‘Convenience’ Really Mean to Today’s C-store Shoppers? Only less than 1% or 33 out of a possible 5,427 kids meal combination met suggested nutritional standards even though there was an increase in kids’ meal choices. 53% of men state that they eat fast food at least weekly. The food is not only safer to serve,, it’s a comfort food enjoyed by people from all income levels and backgrounds. By sharing these stories, I want to help others get started. The minimum wage standards can differ from country to country. It is also worth noting that although in the case of Burger King, its major competitors have been McDonald’s and Wendy’s being the first and third placed leaders respectively, in the fast food industry, so far, yet competition from many well-established food service companies, has been cut throat. Fast food industry is expanding briskly; it is again producing ensuing effect on the social, political, economical forms of life (DeMaria 2003). Related Reading: Cooking is My Passion. The fast food market size was valued at $647.7 billion in 2019 and is estimated to reach $931.7 billion by 2027, growing at a CAGR of 4.6% during the forecast period. Banks, consultants, sales & marketing teams, accountants and students all find value in IBISWorld. Based on that research, NPD this week released the five top consumer trends shaping the foodservice industry. Fast food really lives up to its name as in most cases, your food can be prepared and served in less than 10 minutes. Here are the Technological factors impacting the food industry: Automation. According to the analysts at Zion Market Research, the global fast food market was capitalized at more than USD 539.63 Billion in 2016. In 2014, U.S. Hispanics grew restaurant visits while non-Hispanic visits declined. series, and of course, a food fanatic. November 17, 2016. The idea that food that is ready to eat can be ordered and available to enjoy in a short space of time was considered the future. Despite the current dilemma affecting the global fast-food industry, there is still a silver lining for some of its operators.