Market Report, "Fast Food in the US", published

Fast food overall has seen strong growth every year since 2009. The 3% current value growth in 2014 demonstrates the channel’s continued ability to outpace inflation and maintain real growth. Although slightly lower than the growth in previous years, the growth of fast food in 2014 demonstrated the overall strength and inertia of the channel, as well as its flexibility and response to changing tastes.

Competitive Landscape

Despite maintaining the leading position in the fast food landscape in the US, the performance of McDonald’s in 2014 has been heralded as the worst in decades. This year saw the announcement by McDonald’s that it had experienced a decline in domestic system-wide sales for the first time in 30 years. 2014 GBO sales stood at US$35.2 billion; a 2% decrease from 2013’s sales of US$35.9 billion and a decrease in actual sales of US$646 million. The 2014 performance ended the longest run in the history of the American restaurant industry for consistent unbroken value growth for a single chain. For the last decade, the company managed to achieve strong system-wide sales growth without commensurate outlet growth through menu innovation and adding new day parts. This strategy did not see the same success in 2014, and as a result of what is being called "the lost year", the company has developed a new seven-step "turnaround agenda", which includes the customisable "Create Your Taste" menu and family-focused strategies. At the time of publication, McDonald’s had released its first quarter of 2015 financial results, and reported a decrease in same store sales of almost 3%, indicating that the lull may not be over.

Full Report Details at
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Industry Prospects

Fast food is expected to record a value CAGR of 3% at constant 2014 prices in the forecast period, to reach sales of US$246.6 billion in 2019. Fast casual dining will drive much of this growth, although other fast food should steadily increase its value sales, as some consumers look to it for value, and others are attracted by the variety of healthier new products on offer. This diversification is likely to turn more consumers into fast food fans, and help convert some of the aversion to the channel, although there will always be those who will eschew fast food. Chained Asian fast food, which hopes to attract health-conscious consumers with its relative abundance of vegetables, is expected to see a value CAGR of 5% at constant 2014 prices in the forecast period 2014-2019. Chained convenience store fast food is expected to see a slightly higher CAGR and holds the distinction of having the most expected growth.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Fast Food industry in USA with research from Euromonitor's team of in-country analysts.

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