1.1 Definition and presentation of the fast food market
Fast food, better known as "fast food," consists of a restaurant business based on the sale of ready-to-eat food that can be consumed quickly. In fast food, people seek a quick, inexpensive, and palatable meal option. For these reasons, the restaurant business revolves around a target audience that tends to be young people. Fast food restaurants tend to be organized as franchises, where multiple stores of the same chain open in multiple locations in the same city or nation.
Although the spirit and conceptual framework of this market has existed for many years, the mass-market approach to the fast food industry is believed to have originated in the United States during the first half of the 20th century-the first fast food hamburger chain called White Castle opened in 1921, becoming the world's first example of a user of the assembly line concept in a business. In keeping with the Taylorist philosophy of the time, it had standardized the production of its sandwiches to make its service more efficient. Consumers, immersed in chaotic and hectic lifestyles, found themselves demanding food that could keep up with their need for speed. Since this time, the popularity of fast food has proliferated in every part of the world, producing a variety of products inspired by different types of cuisine.
The Italian food industry has undergone many transformations, particularly due to the evolution of consumer preferences, habits and purchasing decisions, which have drastically affected the value and incidence of various segments of the food industry. Therefore, some segments, such as fast food, street food or home food delivery are gaining relevance, appealing to the busier lifestyles of Italians.
Although traditional restaurants still account for the largest share of the restaurant industry, with a value of about 43.5 billion euros, the food scene has changed considerably. In fact, transformations in the Italian food scene have led to an increasing relevance of alternative channels, such as delivery or take-away, which are worth about 1.8 billion euros. Due to the incidence of the Italian culinary tradition, fast foods represent a much more limited portion of the market.
However, to ensure themselves as significant players in the restaurant market, fast food companies try to closely follow the hottest trends in order to build an offering in line with customers' tastes and habits . In recent years, attempts have been made to produce products that are closer to the quest for a healthy lifestyle, more sustainable and, due to increasing internationalization, often oriented toward ethnic foods (up 40 percent).
1.2 Fast food: a large portion of the food industry
Fast foods are designed to provide a faster and more cost-effective option for the customer by indulging in faster prepared foods. Convenience and taste are the main strengths of the industry, which in recent years has sought to improve its nutritional content and healthiness of fast food by adding ingredients that ...
1.3 The local market
The fast food industry in Italy has evolved considerably in recent decades, going to reflect changes in food preferences, lifestyle, and cultural trends in the country. Although there has been a decline in the number of fast food outlets of about *.* percent in the period between **** and **** (***), popular dishes such as ...
1.4 Distribution in the restaurant industry
According to data proposed by Deloitte, the value of the Italian restaurant market in **** was about €** billion. Although the largest market share is still in the hands of traditional restaurants, with a value of about €** billion, the sector has changed significantly. Fast food ranks second, with a ** percent share, which corresponds ...
1.5 Impact of the derivative
Following the outbreak of the Covid-** emergency, the first restrictions and travel bans were imposed in an attempt to contain the spread of the virus; for these reasons, during the lockdown instituted starting in March ****, all restaurants, bars, and fastfood giants were forced to close. This attested to a rise in ...
2.1 Demand characteristics
Going to analyze the average monthly expenditure of households in the fast food and takeaway sector, we see an increase in product search between **** and ****, only to experience a significant decline in ****, rising again by **.* percent in ****, a figure surely influenced by the increase in demand during the lockdown period.
2.2 Factors influencing demand
Culinary tradition has always represented an identity and cultural pillar of the Italian Peninsula. More than **% of Italians are familiar with traditional recipes and dishes handed down from generation to generation, in a context in which the variegation of typical dishes changes considerably depending on the region under consideration, offering, thus, ...
2.3 Geographical distribution of demand
To analyze the geographic distribution of demand, a map was created that presents monthly household spending on fast food and take-away services by Italian macro-region in ****. From this, it can be seen that in Northern Italy , monthly spending on this sector is higher, standing at around €**.**/month, followed by Central Italy€**.*/month ...
2.4 Food delivery: between choice and necessity
Smart working and new food trends
A new corporate food delivery format has emerged in recent years. The service allows companies to create their own account and be able to manage lunch orders at the office or from home. With *,*** registered users mainly between Milan and Rome, the service saw a ...
3.1 Market organization and dynamics
The fast food market in Italy has some key characteristics that make it a decisive player in the restaurant market:
speed: customers are looking for ready-to-eat food quickly; accessibility: fast food meals tend to be inexpensive, making them accessible to a wide range of customers; standardized menu: fast food restaurants often ...
3.2 Value Chain
3.3 Different business models and distribution channels
In Italy, the fast food market is based on two main business models: Indirect Channel, Franchising: franchising is the most popular model for fast food chains in Italy. This approach allows owners to run operations independently while taking advantage of the brand's established reputation. Franchising allows for rapid expansion of the ...
3.4 Main actors
As has been previously stated, the fast food sector is growing steadily in the Italian context. The culinary preferences of Italians, traditionally linked to home cooking and regional delicacies, are gradually embracing the appeal of fast food, with a growing demand for fast and affordable products. Against this backdrop, many of ...
4.1 Subsegments of Fast Food
The fast food market can be broken down into several subcategories, as one can analyze the variable of type of food sold (***) which can essentially trace back to the country of oridine.
Based on their geographical origin, fast foods are segmented into:
Asian-inspired fast food is the fastest growing category within ...
4.2 Offerings aimed at a specific consumer
Fast food companies operating in Italy are expanding and customizing their offerings to meet customers' needs. For most fast food restaurants, the offerings are focused on:
Families: as some fast food chains were originally aimed at families with children and young adults. Therefore, they developed some specific products aimed at these ...
4.3 Prices and convenience
Below is the percentage change in price change in **** compared to ****. Specifically, it can be seen that the sectors of traditional ristration and pizzerias register increases of *.* percent and *.* percent on average for the year. Food delivery registers increases of *.* percent, and the sector examined in this survey, fast food, registers ...
4.4 Product offerings to meet new supply trends
Fast food companies closely follow trends to ensure that their offerings are in line with customers' current tastes and habits. In recent years, the offerings have expanded to match the following trends:
healthier lifestyle: as consumer attention increasingly shifts to healthy lifestyle choices, fast food chains are also deciding to adapt ...
5.1 The regulation of the fast food market in Italy
Fast food outlets are part of the broader food service segment and as such are subject to specific regulations regarding the opening of such businesses and their operation. Analyzing the area of food safety, it is necessary to mention theeuropean Regulation **/**/****, No. ***,which establishes rules and procedures to ensure the safety ...
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The fast food market - France
Publicado en 02/11/2022 by Pierrot
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The fast food market - France
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