Insight Survey’s latest SA Fast Food/QSR Landscape Report 2019 carefully unfolds the global and local fast food markets based on the latest information and research. It examines the market drivers and restraints as well as global and local market trends to present an objective insight into the South African fast food industry environment, market dynamics, and its future.
Globally the fast food market is expected to be valued at approximately US$617.6bn in 2019, with a compound annual growth rate (CAGR) of 5.5% for the 2019 to 2025 forecast period. As illustrated in the graph below, McDonald’s is considered to be the most valuable fast food brand in 2019 globally with a brand value of US$130.4bn. This is followed by Starbucks and KFC with brand values of $US45.9bn and US$17.2bn, respectively.
The vegan trend has influenced the global fast food industry and many of the top brands are including more vegan and plant-based offerings in their menus. McDonald’s, for example, recently introduced their Big Vegan TS in Germany, while Burger King has announced its plans to start offering products in partnership with Impossible Foods, a company known for providing realistic meat-free products across the United States. KFC also plans to trial a vegan version of the company’s chicken fillet burger in June 2019.
In contrast to the strong growth being experienced globally, the South African fast food industry has been experiencing some challenges over the last few years, with the market growing at a CAGR of only 1.1% between 2013 and 2018, and the number of fast food outlets actually declining by 2% in 2018.
However, there has been a similar shift towards veganism over the last few years in South Africa. In fact, this movement has gained so much momentum that 2019 has been declared the ‘’Year of the Vegan’’, in terms of food trends.
There are various reasons why the demand for vegan food offerings has been rising in South Africa. An increasing number of consumers (especially millennials) are becoming more aware of the carbon and water footprints of meat products, as well as the potential negative effects these products may have on their personal health. Social media has also played an important role in educating and informing consumers on where food comes, climate change, as well as the health benefits associated with a plant-based diet.
Players within the South African food industry are very aware of the growing importance of this trend. For example, the well-known Beyond Meat burger, which has a pea protein base and beetroot as an ingredient, recently became available in South Africa. Furthermore, the food retailers Woolworths and Checkers have specifically made a conscious effort to widen their vegan product offerings.
It is evident that the vegan movement is also influencing fast food and quick service restaurants in South Africa, as many players are starting to include more vegan and vegetarian food items on their menus.
The South African Fast Food/QSR Industry Landscape Report 2019 (142 pages) provides a dynamic synthesis of industry research, examining the local and global Fast Food industry from a uniquely holistic perspective, with detailed insights into the entire value chain - from manufacturing to retailing, market size trends, industry trends, industry drivers and challenges, competitor retail analysis and pricing analysis.
Please note that the 142-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT). For additional information simply contact us at az.oc.yevrusthgisni@ofni or directly on (021) 045-0202 or (010) 140-5756.
For more details and brochure please go to: South African Fast Food Landscape Report 2019
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