Fast Food Market To Grow Significantly From 2020 To 2026, South Africa To Be Major Revenue Contributor

Pune, Maharashtra, India, September 9 2020 (Wiredrelease) Allied Analytics : South Africa Fast Food Market by Product Type, Age Group and Distribution Channel: Opportunity Analysis and Industry Forecast, 2019-2026, the South Africa fast food market size was valued at $2.7 billion in 2018, and is projected to reach $4.9 billion by 2026, growing at a CAGR of 7.9% from 2019 to 2026.

Initially, the South Africa fast food industry was dominated by an oligopolistic market structure. However, in the past two decades, the industry has evolved rapidly comprising independent and chain restaurants. This evolution in the fast food industry is attributed to increase in consumption rate and preference for fast food products among the South African customers. Approximately 25 million customers have been visiting fast food restaurants each year. Processed chicken, burgers, processed fish, pizza, sandwiches, and others are some of the main types of fast food items that are gaining popularity in the South African market. Among these product types, the burger and pizza categories have witnessed faster growth in terms of value sales due to faster store roll-out and arrival of international brands.

Get Detail Analysis Download Research Report: https://www.alliedmarketresearch.com/request-sample/6068

Estimating South Africa to be one of the lucrative markets in the fast food sector, some of the key international players have been investing heavily in the country. For instance, Grand Parade Investments brought Burger King to South Africa and had plans to roll out Dunkin Donuts and Baskin-Robbins stores. Furthermore, Taste Holdings converted its St Elmos and Scooters outlets to Dominos and opened two Starbucks stores in 2016.

Some of the key fast food operators, both domestic and international, consider South Africa as the key market in generating sales due to rise in demand for convenience food products. These operators have been strategizing on promoting their product offerings, prices as well as their services to increase their customer base. Furthermore, introduction of customer loyalty programs, weekly specials, and availing regional cuisines attract the customer toward these food products. Thus, strategical promotional activities by fast food operators are one of the key factors that drives the growth of the fast food products in the country.

New entrants are expected to find it difficult in the initial stage to establish their market in South Africa due to some of strategical moves initiated by their potential competitors. For instance, Burger Kings entry into the South Africa market experienced substantial competition from McDonalds. McDonalds reduced the prices, increased meal portions, and opened outlets in areas where the new entrant has its food joints. Therefore, rise in market competition is expected to hamper the market growth.

The South Africa fast food market is segmented on the basis of product type, age group, and distribution channel. Based on product type, the market is divided into processed chicken, burger, processed fish, pizza, sandwich, and others. By age group, it is categorized into below 18 years, 2035 years, and above 35 years. Based on distribution channel, the market is bifurcated into on-trade and online channel.

Some of the key players operating in the South Africa fast food market are Yum Brands Inc., Famous Brands Inc., McDonalds Corporation, Nandos Group Holding Ltd., Taste Holding Ltd., Traditional Brands, King Pie Holdings, Burger King, Hungry Lion, Spur Steak Ranches, and others.

Enquire For More Details: https://www.alliedmarketresearch.com/purchase-enquiry/6068

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials Chemicals, Construction Manufacturing, Food Beverages, Energy Power, Semiconductor Electronics, Automotive Transportation, ICT Media, Aerospace Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

This content has been published by Allied Analytics company. The WiredRelease News Department was not involved in the creation of this content. For press release service enquiry, please reach us at contact@wiredrelease.com.