Fast Food Innovation, Project #14280

INDUSTRY STATISTICS:

Research Summary. Fast food is mass-produced food designed for commercial resale, with a top priority being service speed. Fast food was created as a strategy to accommodate commuters, travelers, and wage workers. Our research team found:

• The United States has 201,865 fast food restaurant businesses as of 2023
• The US fast food industry has a market size of $331.41 billion as of 2022.
• The expected CAGR (compound annual growth rate) of the US fast food industry is 5.1% from 2020-2027.
• The global fast food industry is worth $907 billion as of 2023.
• 37% or 50 million Americans consume fast food every day.

SOURCE: https://www.zippia.com/advice/us-fast-food-industry-statistics/

The global fast food market is projected to grow from USD 972.74 billion in 2021 to USD 1,467.04 billion by 2028 at a CAGR of 6.05% during forecast period. The Burger & Sandwich Segment holds the Major Market Share due to Presence of Burger Chains in Almost Every Country. Based on product type, the segment includes burger & sandwich, pizza & pasta, Asian & Latin American Food, and others. The burger & sandwich restaurants segment dominates the market owing to the popularity of burgers and sandwiches among all the age groups. Also, burgers & sandwiches are cheaper costs compared to pizza & pasta. McDonald's is one of the most popular chains in the fast food category. It has the presence of company-operated restaurants franchised restaurants, and licensed affiliates  in 119 countries in the world. Superior competitive advantage of burger & sandwich chains is their unique breakfast menu. These offerings provide a convenient option for consumers traveling on their way to work in the morning. In 2020, McDonald's operated over 39,000 restaurants. Apart from McDonald's, another major market player in this segment is Burger King. Burger King has a presence mainly in the U.S. market and focuses on hamburgers, chicken, and specialty menu items at affordable prices. With the availability of these two popular fast food chains in many countries, this segment is expected to dominate the fast food market share during the forecast period.

The Asian & Latin American food segment holds the second largest market share of the global market. The majority of the population of the world resides in the Asia Pacific region. The majority of the countries in the Asia Pacific region such as India, China, Thailand, Indonesia, Malaysia, Australia, and South Korea are in the developing stage. Consumers in this region are experiencing increased disposable income and hence they are spending more on food. This factor is expected to drive the growth of the Asian & Latin American food segment during the forecast period.

SOURCE: https://www.fortunebusinessinsights.com/fast-food-market-106482

Requirements For National, Regional, or Global Commercialization:

1) Global Intellectual Property Cooperative Development Agreements. (To Be Discussed.)

2) Patent Litigation & Defense Fund/Insurance Cooperative Agreements. (To Be Discussed.)

3) Engineering, Development & Prototyping Cooperative Agreements. Estimated time required = 6 months to a year. (To Be Discussed.)

4) Key Executive & Project Commercialization Team Agreements, Employee Agreements, Recruiting Firm Agreements, Third-Party Operations Management Agreements, Installation & Service Technician Agreements, Warranty Services Agreements, and other Third-Party Consulting Agreements. (To Be Discussed.)

5) Production Manufacturing & Tooling Agreements. (To Be Discussed.)

6) Internal and External Marketing & Sales Agreements. (To Be Discussed.)

7) Website Development & Management Agreements; Social Media Development & Management Agreements; Online Advertising & Public Relations Agreements; E-commerce & E-Store Development & Management Agreements. (To Be Discussed.)

8) Distribution, E-Store, Manufacturing Rep, and Channel Partners Alliance Partner Agreements. (To Be Discussed.)

9) Equity Crowd Funding Platform Agreements; Fund-Raising Agreements; Loan, Credit Line, or other Financing Agreements; Business Broker Agreements, Merger & Acquisition Advisory Agreements, and or other related Agreements. (To Be Discussed.)

*NOTICE: Further Agreements or Other Agreements may be required for National, Regional, or Global Commercialization that may pertain to the project above. The Agreements shown above are only general requirements. Please further note that Uriel Corporation® (DBA: Epic Ventures™) reserves the right to cancel, abandon or withdraw, edit, amend, or replace this project for another project at its sole discretion. Uriel Corporation® (DBA: Epic Ventures™) reserves the right to remove this project from its activities, from its commercialization interests and from its pursuits. Please note that a listing on this site does not guarantee that this project will be commercially available, nor does a listing on this website guarantee that Uriel Corporation® (DBA: Epic Ventures™) will pursue any actual or potential collaborations with third parties. A project listing on this site does not guarantee that third parties will be able to participate in the commercial pursuit of this project or related ventures. Collaborations that might result from this listing are not guaranteed to succeed. Collaborators that wish to work with Uriel Corporation® (DBA: Epic Ventures™) on this project do so entirely at their own risk. Collaborators are urged to perform their own proper due diligence and they are urged to seek their own counsel to determine whether they should participate in this commercialization venture. All information, documents, designs, plans or other materials that may be obtained or communicated from Uriel Corporation® (DBA: Epic Ventures™) that may pertain to this project are the property of Uriel Corporation® (DBA: Epic Ventures™) and may be used by the recipient only for the purposes specifically intended by Uriel Corporation® (DBA: Epic Ventures™). The information that may be transmitted, including any emails, attachments, phone communications, faxes, snail mail, virtual meetings, physical meetings, or communications otherwise, is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, re-transmission, dissemination, or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited, and all liability arising therefrom is disclaimed. All collaborators shall agree to enter into NDAs/Non-Compete Agreements that will be required before any collaborations related to this project are further formalized in writing.