$402.9bn
$XX.Xbn
5m
211k
$XXX.Xbn
While shifting consumer preferences and a crowded foodservice landscape, fast food restaurants have maintained a steady pace of growth. Over the five years to 2024, industry revenue has expanded at a CAGR of 3.2%, reaching $402.9 billion. Notably, 2024 alone will experience a 0.9% increase in revenue. The trend towards fast casual dining has bolstered the industry, helping fast food chains hold their ground amid fierce competition.
Industry revenue has grown at a CAGR of 3.2 % over the past five years, to reach an estimated $402.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Chipotle Mexican Grill, inc. | 11,044.8 | 1,862.9 | 16.9 | |
Mcdonald’s Corporation | 3,604.0 | 1,635.3 | 45.4 | |
Chick-Fil-A, Inc. | 307.2 | 47.0 | 15.3 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Industry revenue is measured across several distinct product and services lines, including Burgers, Sandwiches and Global. Burgers is the largest segment of the Fast Food Restaurants in the US.
Better burger trends reshape fast food restaurants' menus
This industry comprises restaurants where patrons pay for quick-service food products before eating. Purchases may be consumed on-site, taken out or delivered. This industry excludes coffee and snack shops. Most industry establishments also sell beverages, such as water, juice and sodas, but usually not alcohol.
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NAICS 722513 - Fast Food Restaurants in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Fast food restaurants are adding healthy, low-calorie options due to increased competition. These outlets must continuously innovate and adapt to evolving dietary preferences...
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Fast food consumers are now favoring unique, high-quality offerings. This shift from generic meals to niche or gourmet options is reshaping the industry's approach to menu de...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Fast food restaurants thrive on high car traffic. They are strategically located along busy roads, capitalizing on consumers' need for convenience.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Fast food giants must invest in R&D to keep pace with today's customers. Continuous innovative efforts are essential to satisfying evolving consumer expectations and staving ...
Learn about the performance of the top companies in the industry.
The industry's immensely competitive and saturated environment prohibits any one company from dominating. Fast food restaurants associated with huge incumbent brands, like Mc...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Falling consumer confidence boosts demand for economical options. However, a faltering economy might push consumers to eat at home to cut expenses.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Incorporating technology in restaurants has helped fast food restaurants preserve profit. Labor shortages have accelerated the use of technology in restaurants.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Fast Food Restaurants in the US industry in United States is $402.9bn in 2024.
There are 211k businesses in the Fast Food Restaurants in the US industry in United States, which has grown at a CAGR of 1.6 % between 2019 and 2024.
The market size of the Fast Food Restaurants in the US industry in United States has been growing at a CAGR of 3.2 % between 2019 and 2024.
Over the next five years, the Fast Food Restaurants in the US industry in United States is expected to grow.
The biggest companies operating in the Fast Food Restaurants market in United States are Chipotle Mexican Grill, inc., Mcdonald’s Corporation and Chick-Fil-A, Inc.
Burgers and Chicken are part of the Fast Food Restaurants in the US industry.
The company holding the most market share in United States is Chipotle Mexican Grill, inc..
The level of competition is high and increasing in the Fast Food Restaurants in the US industry in United States.