Weekly Global News Wrap Up: Global Fast Food Market will amount to $645.0-B by 2020; Rice Market is poised to thrive with the rise of the QSR industry; Mcdonald's takes a risk by using fresh beef
Here is a summary of the most interesting QSR news stories of the week from around the world.
Mcdonald’s is poised to take the brand’s biggest risk in history by adding fresh beef to its menu, in a report by Business Insider. The chain ranked last in terms of service for the third year in a row among all major fast-food chains in the American Customer Satisfaction Index's 2017 survey.
According to a report by Seeking Alpha, the growth of Starbucks China is stagnating as opposed to the expectation that a larger Chinese coffee market (currently with an annual growth rate at 20% according to BBC) will elevate Starbucks's earnings.
In a report by Digital Journal, global fast food market will amount to $645.0 Bn by 2020. Asia Pacific and North America dominated the fast food market and together accounted for around 65% shares in total demand in 2014. The growing demand for fast food in these regions is fueled by the modern lifestyle of people and convenient restaurant food.
With the rise of Quick Service Restaurants, the rice market is thriving correspondingly. The global rice market is expected to grow with a healthy single digit CAGR from 2013 to 2019.
A report by Sydney-based George Institute for Global Health ranks Australia's 13 fast food giants with 2.5 health star rating, according to Coach. The report assigned health star rankings to individual food offerings to reveal not only which chain is the healthiest, but which offers the widest range of healthy (and not so healthy) foods.
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