Fast Food Leads Global Consumer Foodservice Recovery, States Euromonitor International22 Feb 2012 • by Tanya Rezler
Fast food has emerged from the recession as the leading driver of global growth in consumer foodservice. Led by investment from the world’s largest operators, the category has become the centre of innovation in foodservice, continually reaching new consumers through improved menus, dining experience upgrades and rapid worldwide expansion. As such, fast food is primed to become even more dominant in years to come.
While not immune to the recession, fast food has weathered the storm well. It has become a growth leader, as well as the industry’s centre of innovation and investment, adding new dayparts, product lines and consumer groups.
According to the report “Global Fast Food: Leading the Worldwide Consumer Foodservice Recovery” by Euromonitor International, the focus on eating occasions strengthened in 2010, as operators fought for every customer at every occasion. Fast food is now competing with a larger number of consumer foodservice categories, including specialist coffee shops, casual dining restaurants and other informal dining-out categories.
Global Fast Food: Leading the Worldwide Consumer Foodservice Recovery
Published: January, 2012
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Growing demand for convenience at low prices, coupled with comparatively high profit margins, has led to increased participation in fast food by convenience store operators, supermarket retailers and other retail players.
Asia Pacific will contribute 65% of total global foodservice growth over the forecast period and 55% of fast food growth. As such, the region continues to be an expansion focus for international operators, especially in fast food.
More information can be found in the report “Global Fast Food: Leading the Worldwide Consumer Foodservice Recovery” by Euromonitor International.
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