Updated on: February 2, 2025
If you’re thinking about zipping through the drive thru right about now, you’re not alone. Fast food consumption is a big thing for Americans. Research shows that around 83% of people in the United States eat at quick service or fast food restaurants at least once a week. Yep, more than eight in ten people grab their favorite fast food product every week (at least it’s not on a daily basis)! While the pandemic may have slowed sales a bit for a time, overall the fast food market growth has rebounded remarkably and is on a rapid rise.
Don’t go running for that quick meal just yet, because we’ve got some interesting stats to show you. What should you expect in this post? First, we’ll walk you through the main fast food industry trends and statistics. From there, we’ll provide some general analysis. Finally, we’ll give some tips on how to stand out if you own a fast food restaurant. Let’s get started.
What are some fast food industry statistics?
So you want all the juicy fast food industry statistics. Good news! We’ve gathered some great data for you. Here are some of the most interesting fast food industry statistics. You’ve got questions and we’ve got answers.
How big is the fast food industry?
According to Fortune Business insights, the fast food industry in the United States will be worth $1467.04 billion USD by 2028. As one of the fastest-growing markets and most competitive landscapes, we can expect fast food market size to continue to grow year over year with more food establishments entering the scene.
Is the fast food industry growing?
Yes, the fast food industry is experiencing substantial growth. Even though the COVID-19 pandemic caused a roughly 20% decrease in the fast food industry from 2019 to 2020, it rebounded quickly, with a compound annual growth rate of 6.05% between 2021 and 2028.
What type of industry is fast food?
Fast food falls into the quick service restaurant (QSR) or limited service restaurant industry (LSR) industry. Fast food chain restaurants and fast casual restaurants are both part of the QSR or LSR segment. This piece of the industry accounts for over 50% of all restaurant sales. Full service restaurants (FSR) make up the other half of the restaurant industry.
Which fast food brand has the highest brand value?
Per Statista, McDonald’s has the highest brand value. In 2020, they had $40.53 billion in sales revenue, $22 billion more than the chain in second. When it comes to other metrics—like number of units sold—there are a few major players, but Subway is number one. What about sales per unit? That’s where Chick-Fil-A wins out. Raising Cane’s was third in that category. What sets these major companies apart? Taste, service, and nearly fanatical customer loyalty. That’s what makes these fast food restaurants a popular choice among consumers.
What are some of the latest key trends in the fast food industry trends?
The fast food industry’s trending toward serving the customer more fully. And not just one type of customer, but customers with different dietary needs and consumer preferences. From vegan and plant-based burgers to keto and low-carb pasta, the rise in healthy food specialty diets has forced even fast food restaurants to make adjustments to offer healthier options.
That customer service stretches beyond just diet—it trickles over into the full customer experience. Amazon allows consumers to order almost any product to their door with just a click. Online food delivery services like UberEats and GrubHub do the same, but with food. Because technology has advanced so rapidly, consumers have come to expect ultimate ease and convenience in everything they do. The fast food businesses that want to survive are nimbly adapting to these consumer demands. Fast food franchises who aren’t making the changes necessary may not be around much longer.
How would we analyze the fast food industry?
A quick analysis of the fast food sector shows that it’s indeed experiencing steady growth. That said, it’s also becoming more competitive as more restaurants are entering the market. Innovation is driving change and restaurants need to provide fast service and better offerings in order to stay top of mind for customers. As technology has advanced, the demand for convenient purchase options such as self-serve kiosks and fast food meal delivery services has increased. With the rise of DoorDash and similar online delivery services, customers want more convenient solutions than ever before.
What can fast food restaurants do to stay relevant?
Consumers are becoming increasingly choosy, and the demand for faster dining options is growing. The rise of numerous and varied fast food and quick service restaurant options has given them that luxury. With so many options available and so many restaurants vying for consumer attention, what can fast food chains do to stand out? Here are some important factors for businesses to keep in mind.
Serve tasty food with a low cost to produce
Taste matters to consumers. It’s one of the key factors for successful businesses in the food industry. The data shows that taste reigns supreme, even over the nutritional value of the food. To find the holy grail, run a fast food outlet where the cost of goods sold is very low and the amount of money you make per sale is high. In short, use quality, yet affordable ingredients, provide premium service, and charge a premium price. Even when you factor in labor costs, you’ll still turn a pretty profit.
Provide better service
“My pleasure,” says every Chick-Fil-A employee. And it has paid off. Customer service is another major factor for fast food restaurants. Chick-Fil-A’s impeccable customer service is why they sit atop the list of major fast food chains when it comes to consumer satisfaction and customer engagement, followed closely by Chipotle. Their drive thru lines move fast, they give plenty of dipping sauces, and they do it all with a smile. Speaking of key players, Chick-Fil-A’s incredible service has created no shortage of loyal customers, including 2021 NBA Finals MVP, Giannis Antetekounmpo, who posted a video of himself going through the drive thru for 50 nuggets the morning after he dropped 50 points to claim an NBA championship. That’s the type of brand loyalty and free publicity you can earn you when you focus on enhancing the customers’ dining experiences.
Find the right restaurant management software
It’s hard to increase customer engagement and consumer spending when you don’t have efficient processes and systems in place. This starts with the right restaurant management software. If you can’t stay organized, service speed slows down and customers can quickly become disgruntled. The great news is there are solutions—the technology’s out there. And getting it set up is truly the critical first step to having great customer service and running a restaurant people want to be loyal to.
From keeping track of orders to running your back of house operations and tracking employee time, we can help.
Never stop innovating
“If it ain’t broke, don’t fix it.” That saying does have some merit. However, just because something isn’t broken doesn’t mean it’s necessarily running at optimum efficiency. There’s always room for improvement in your restaurant or fast food chain.
Take time to get to know your customers, improve your processes, and uplevel your menu offering. With the right tools in place, it’s much easier. We’re here to help, so request a demo today.
