Top 20 Countries With Highest Fast Food Consumption
In this article, we will be covering the top 20 countries with the highest fast food consumption. If you want to skip our detailed analysis of the fast food industry and consumption trends, go directly to the Top 5 Countries With Highest Fast Food Consumption.
Fast food falls into the quick service restaurant (QSR) or limited-service restaurant industry (LSR) industry and is characterized by its emphasis on speed of service, affordability, standardized menus, and often, a drive-through or takeout service. A global phenomenon that is unlikely to change anytime soon, The success of fast food chains in the market can be attributed to their ability to tap into a large consumer base. These chains have expanded their operations globally and have maintained a strong presence in international markets for extended periods. As a result, renowned fast food brands like McDonald’s Corporation (NYSE:MCD), Domino’s Pizza, Inc. (NYSE:DPZ), and The Wendy’s Company (NASDAQ:WEN) have gained widespread recognition and have cultivated a preference for their offerings worldwide, regardless of whether it's in developing or developed countries.
Over the past few years, the fast food and casual restaurant industry, typically known for its quick and affordable meals, has witnessed a noticeable transformation, with the emergence of high-priced establishments alongside their more budget-friendly counterparts. Despite this, customers will continue to be loyal to brands that please them with a well-rounded and high-quality experience. Fast food enthusiasts appreciate the element of predictability, desiring a clear understanding of what awaits them prior to stepping foot inside a restaurant. Whether visiting McDonald's in New York City, Stockholm, or even Beijing, customers expect a consistent experience across locations,
According to a research report, the global fast food industry was estimated at $ 702.8 billion in 2021 and it is expected to hit $ 964.6 billion by 2030 with a registered CAGR of 4.0% from 2022 to 2030. The fast food market is continuously developing due to rising demand for on-the-go snacks, convenience foods, and ready meals. The busy lifestyle of millennials and the worldwide rise of working people seem to be driving this impact on fast food consumption. Additionally, the significance of delivery options/services is also partially attributable to the rising number of restaurants, such as McDonald's Corporation (NYSE: MCD) and Chipotle Mexican Grill, Inc. (NYSE: CMG). This shift is fueled by the rising consumer demand for convenient and on-demand food delivery, coupled with the growing popularity of online food delivery platforms.
According to a study by The Barbecue Lab, most Americans eat fast food one to three times a week and over 83% of US families eat it at least once a week. The study suggests many people think eating fast food is “relatively inexpensive compared with other restaurants.” Over 32% of the people that eat fast food think it is cheaper than the alternatives. However, the cost of fast food is notably higher compared to preparing meals at home. Contrary to the common belief that lower-income families rely on fast food for its affordability, it is actually individuals with higher incomes who tend to consume more fast food than those with lower incomes.
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Our Methodology
To rank the top 20 countries with the highest fast food consumption, we scoured through several studies and surveys that revealed the countries that consumed the most amount of fast food. Notably, the survey carried out by CEOWORLD magazine became the foundation for our rankings. To learn more about the fast food industry, you can check out our list of the 10 Best Fast Food Stocks to Invest In.
20. Germany
Germany boasts a diverse restaurant scene, which comprised a total of around 70,619 establishments in 2019. Although there has been a slight decline in the number of restaurants in recent years, the industry remains highly competitive and vibrant, experiencing consistent revenue growth.
19. Canada
One of the countries with the highest fast food consumption, Canada employs more than 400,000 people within this lucrative industry, with an estimated 30% Canadians having worked in the fast food industry at some point. The Canadian fast food industry's value reached $27 billion in 2021. From 2016 to 2021, the industry witnessed a modest growth rate of 1.3%. However, post-pandemic, the fast food sector in Canada rebounded with a market growth of 8.2% in 2022, resulting in a market size of $29.8 billion. Additionally, the industry is predicted to continue growing and reach $55 billion by 2027.
18. Finland
Finland has a unique fast food consumption pattern influenced by both local traditions and international influences. The impact of Covid-19 on the restaurant and café industry was nothing less than challenging, leading to reduced profits for many establishments. However, an interesting trend has emerged in Finland, where the pandemic seemed to have stimulated Finns' craving for fast food. One notable example is the local pizza chain, Kotipizza, which reported record-breaking sales in May of 2020. With a remarkable surge of 17% in revenues compared to the previous year, the company experienced a phenomenal 152% increase in online orders.
17. Japan
Japan is a gourmet country some of the highest fast food consumption, with traditional fast food options like ramen, yakitori, and ready-to-eat bento meals, as well as several international QSR chains. As of January 2023, McDonald's Corporation (NYSE:MCD) was the fast-food restaurant brand with the most operating stores in Japan, amounting to 2,959 facilities. Other leading brands include Hotto Motto, MOS Burger, and KFC.
16. Portugal
A southern European country on the Iberian Peninsula, Portugal enjoys a vibrant food culture that has integrated both, cultural and international fast food options. In 2022, approximately one-third of the Portuguese population enjoyed dining out at restaurants or opted for take-away food once a week, while 14% indulged in this practice twice a week.
15. Switzerland
Fast food consumption in Switzerland is a significant aspect of the country's culinary landscape. Despite consistently ranking as one of the healthiest and most environmentally friendly nations globally, a 2019 study conducted in the French-speaking region revealed that more than 69% of respondents felt no remorse, either for their personal well-being or for the environment, when indulging in burgers and fries. However, it should be noted that while fast food consumption is prevalent, Switzerland also emphasizes quality and variety in its food culture.
14. Russia
Fast food and full-service restaurants dominate the food market in Russia, with the fast food market measuring at over 2.2 billion orders in 2021, marking an increase from the previous year by more than four million orders. KFC is the most prolific American fast food brand in Russia with over around 1,000 units across the country. This is followed by McDonald's Corporation (NYSE:MCD) with close to 847, and Burger King, which operates roughly 800 restaurants in Russia.
13. India
The rise in disposable income in India has led to a corresponding increase in the frequency of dining out. Major fast food chains, such as McDonald's Corporation (NYSE:MCD), entered the Indian market in 1996, paving the way for other prominent establishments like Domino's, Pizza Hut, KFC, and more to follow suit. The countries quick-service restaurant market is expected to clock a compound annual growth rate of 23% between now to fiscal year 2025.
12. Australia
Driven by their increasingly hectic lifestyles, Australians are allocating a greater portion of their budget to fast food and meals consumed away from home. According to a 2020 report, Australians make approximately 51.5 million monthly visits to fast food chains, accounting for nearly 32% of their household food budget dedicated to dining out. The market size, measured by revenue, of the Australian Fast Food and Takeaway Food Services industry was $7 billion in 2022.
11. Italy
The birthplace of pizza, Italy remains one of the top countries with the highest fast food consumption. Despite this, many of the world’s biggest fast-food chains are finding it difficult to survive in the Italian culinary market that features exquisite staples like pasta carbonara, lasagne, and saltimbocca. Burger King, for example, arrived in Italy in 1999, but still operates only 220 locations, making it the second-largest American fast-food chain in the country, considering Italy's population of 60 million residents. Additionally, Italy is home to only 50 KFC franchisees, 17 Subway locations, and 34 Domino’s Pizza, Inc. (NYSE:DPZ) stores.
10. Norway
Despite being leaders in the war against obesity, with taxes over sugary drinks and fast food, Norwegians are one of the top 10 global consumers of fast food. However, Norway's fast food is considerably more nutritious than many of its competitors. In an economical environment that is anything but inexpensive, fast food provides an excellent opportunity for a quick and affordable takeaway snack. The local fast food scene revolves around a multitude of street kiosks and stalls known as "gatekj?kken." These establishments predominantly offer items such as hot dogs (varm p?lse), which are often known for their slightly elastic texture. Alongside hot dogs, one can also find pizza slices, chicken pieces, and chips readily available.
9. China
While Western giants like KFC and McDonald’s Corporation (NYSE:MCD) still dominate the market, Chinese brands have made rapid gains tapping into local tastes and preferences around fusion cuisine. The Fast-Food Restaurants industry in China is massive, generating an estimated $184.5 billion in 2022. The industry has performed well, with revenue expected to rise at an annualized 3.6% over the five years through 2022-2027.
8. Greece
The Greek traditional diet holds a significant position within the Mediterranean diet, renowned for its health benefits and protective effects against diseases like heart disease and cancer. Historically, the Greeks have maintained excellent health and life expectancy due to their dietary and lifestyle practices. In fact, the inhabitants of Crete, with a remarkable life expectancy of 82 years, boast the highest per capita consumption of olive oil in the world, reaching 25 liters. Despite the numerous advantages of the authentic Greek diet, there has been a shift in the eating habits of Greeks towards a more "Westernized" food consumption pattern, thus shifting away from the traditional plant-based diet with low saturated fat. Consequently, popular street-fast foods found in Greece nowadays include items such as "gyros" and "souvlaki," burgers, pizzas, crepes, and sandwiches.
7. South Korea
One of the Asian nations that have seen extraordinarily quick economic development, modernization and Westernization over the past several decades, South Korea also ranks as one of the countries with the highest fast food consumption. The South Korea fast food market is expected to grow at a CAGR of 4.6% between 2023 and 2028. Busy lifestyles and the growing number of single households in South Korea are majorly driving the country's fast food market.
6. Mexico
The fast food industry in Mexico has a significant economic value, estimated at MX$203 billion ($9.5 billion), and boasts an extensive network of over 262,000 sales points across the country. According to a report by Seale & Associates, this sector was projected to grow by 3% annually, reaching a value of over MX$234 billion ($10.9 billion) by 2022. Another report by Merca 2.0 stated that 47.43% of consumers who dine outside their homes choose fast food establishments as their preferred option. Among the fast food chains in Mexico, Burger King holds the top position as the favorite restaurant among Mexicans, followed by McDonald's Corporation (NYSE:MCD), Starbucks Corporation (NASDAQ:SBUX), Subway, KFC, and Domino’s Pizza, Inc. (NYSE:DPZ).
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Disclosure: None. Top 20 Countries With Highest Fast Food Consumption is originally published on Insider Monkey.