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Companies in this industry operate restaurants in which customers order and pay at a counter. Major companies include US-based Chipotle, McDonald's, Wendy's, and Yum Brands (KFC, Pizza Hut, Taco Bell), as well as Café de Coral (Hong Kong), Greggs (UK), Seven & i Food Systems (Japan), and Restaurant Brands International (Canada).
Worldwide consumer foodservice sales, including revenue from fast food restaurants, total about $2.7 trillion annually, according to Euromonitor. Foodservice sales are expected to grow most rapidly in Latin America, the Middle East/Africa region, and the Asia/Pacific region. The world’s 10 largest fast food chains have a combined global brand value of about $180 billion, according to Millward Brown.
The US fast-food and quick-service restaurant industry includes more than 250,000 restaurant locations with combined annual revenue of about $190 billion. Full-service restaurants and specialty eateries such as coffee shops are covered in separate industry profiles.
Demand is driven by consumer tastes and personal income. The profitability of individual companies depends on efficient operations and effective marketing. Large companies have advantages in purchasing, finance, and marketing. Small companies can compete effectively by offering superior food or service. The US industry is highly fragmented: the 50 largest companies account for about 20% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Most fast-food and quick-service establishments specialize in a particular type of cuisine. Hamburger restaurants account for about 40% of sales among US limited-service establishments, while sandwich, pizza, chicken, and ...
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