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The annual growth rate of fast food, according to Technavio‘s ‘Global Fast Food Market 2025-2029’ research, corresponds to 3%, equivalent to a rise to $119,600 produced from 2025 to 2029. But what have been the factors driving the increase? Firstly, AI, a tool that has managed to transform the market along with an increase in diversity.
Franchises and fast food restaurants have evolved to adapt to this liquid era of contemporary freneticism, including fast casual restaurants, cloud kitchens and ready-to-eat meal kits, each available through online ordering and delivery apps that cater to a growing demand for convenient and affordable dining solutions.
Although fast food consumption is on the rise, based on compound annual growth trends (CAGR) of 3%, it presents some challenges, such as market fragmentation, which is an obstacle for retailers, exacerbated by consumers’ shift towards healthy alternatives. Other challenging factors are supply chain disruptions and labour constraints. However, market fragmentation is expected to accelerate due to advances in artificial intelligence, automated contactless systems and online ordering.
Developments such as Domino’s partnership with Menulog, an Australian online ordering app and delivery service platform, which now leads in online ordering, means that other companies in the sector must similarly upgrade and adapt to compete. The drive to partner with automotive, industrial and commercial companies is also boosting competition.
