The South Africa fast food marketregistered $2.7 billion in 2018, and is estimated to reach $4.9 billion by 2026, with a CAGR of 7.9% from 2019 to 2026.
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Rise in demand for convenience food, fast food operator’s lucrative offerings, and implementation of effective pricing strategy propel the growth of the South Africa fast food market. However, rise in health issues due to consumption of fast food, and high competitions for new entrants restrain the growth to some extent. Moreover, increase in number of millennial populations and rise of social media marketing is anticipated to create innumerable opportunities in the near future.
Key market players analyzed in the research include Famous Brands Inc., Nando’s Group Holding Ltd., Taste Holding Ltd., King Pie Holdings, Burger King, Hungry Lion, Spur Steak Ranches,McDonald’s Corporation, and Yum Brands Inc.
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The South Africa fast food market is segmented on the basis of product type, age group, and distribution channel. Based on product type, the South Africa fast food market is divided into processed chicken, burger, processed fish, pizza, sandwich, and others. The processed chicken segment contributed to nearly half of the total market share in 2018, and is expected to dominate throughout the forecast period. On the other hand, the sandwich segment is estimated to grow at the fastest CAGR of 9.1% from 2019 to 2026.
Based on distribution channel, the South Africa fast food market is bifurcated into on-trade and online channel. The on-trade segment held the largest market share in 2018, accounting for nearly three-fifths of the total market share. On the other hand, online channel segment is anticipated to manifest the fastest CAGR of 8.2% from 2019 to 2026.
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Based on age group, it is categorized into below 18 years, 20–35 years, and above 35 years. The 20–35 years segment accounted for more than half of the total market revenue in 2018, and is anticipated to lead the trail by 2026. In addition, the same segment is predicted to register the fastest CAGR of 8.1% throughout the estimated period.