Fast food has long been the foremost favored alternative of food for U.S. customers, chiefly for its convenience, affordability, and speed. It appeals to people who square measure searching for a satisfying meal on a budget, together with school students and families with kids.
The alimentation trade tough ascension calculable $570 billion trade worldwide in 2017, with $245 billion within the us And showing an annual rate of three.2% between 2012 and 2017 within the us.
The alimentation trade is dominated by 5 corporations particularly McDonald’s, Starbucks, KFC, Pizza Hut, and Taco Bell accounting for over four-hundredth of the market share within the us. alimentation chains vie with the food trade generally, whether or not with higher quality restaurants or lower finish food institutions.
McDonald’s had the most important market share in 2015, at 17%, and Yum Brands at around ten.8%. McDonald’s whole price way exceeded that of its competitors, at regarding $88.65 billion in 2016 (Starbucks came in second, with a whole price of regarding $43.56 billion).
For several years, the most differentiation for the Burger King whole from competitors akin to McDonald‘s and Wendy‘s was their supply to permit customers to customise their hamburgers and different food offerings. in contrast to McDonald’s, that had created it tough and long for purchasers to special-order normal things akin to an apparent hamburger.
References
- Statista – Fast food chains market share in the US
- Smithsonian Magazine – The History of Fast Food in America
- Bloomberg – America’s Six Winners from the Fast Food Industry
- QSR Magazine – QSR 50: The Fast Food Power Rankings
- Business Insider – World’s biggest fast food chains by revenue
- The NPD Group – News and Reports on the Restaurant Industry
- Fortune – McDonald’s Corporation Profile and Revenue
- Eater – McDonald’s Coverage and Analysis
- QSR Magazine – Fast Food News and Trends
