- According to recent research by Technavio, the fast-food market is projected to grow by $87.27 billion by 2025. The Asia-Pacific market will account for 45% of this market’s growth, but the U.S., China, Japan, Canada, and the UK are other large markets contributing to this projected growth.
Source: QSR Web. Read the full article here
- Late last year, Shake Shack opened their first ever drive-thru. In the past four months, their average weekly sales have trended above $80,000. CEO, Randy Garuitti, shared that “because of drive-thru convenience, consumers appear to be coming more often than a traditional suburban format.”
Source: QSR Magazine. Read the full article here.
- According to recent research from the United Nations’ Food and Agriculture Organization, food prices dropped notably in July compared to the previous month – especially in regards to the costs of wheat and vegetable oil. FAO chief economist, Maximo Torero, shared in a press release that “Many uncertainties remain, including high fertilizer prices that can impact future production prospects and farmers’ livelihoods, a bleak global economic outlook, and currency movements, all of which pose serious strains for global food security.”
Source: CNBC. Read the full article here.