[Ranking] TOP 25 Fast Food / Food and Beverage Companies Q3/2023
Intro
The fast food industry is a prominent sub-industry within the broader food and beverage sector, playing a crucial role in the worldwide economy. With the increasing demand for quick and convenient meals, fast food has become a staple in the diets of millions of people around the globe.
Not only does the fast food industry satisfy the hunger of individuals, but it also exerts a profound influence on diverse sectors. From agriculture and transportation to marketing and franchising, the ripple effects of this industry can be felt far and wide.
In terms of economic magnitude, the fast food industry continues to soar to new heights. With a projected global market value of over $931 billion by 2027, it is evident that this sector is expanding at an impressive rate.
As the industry evolves, recent trends, breakthroughs, and obstacles are shaping its landscape. Health-conscious consumers are driving the demand for healthier menu options, leading to the introduction of plant-based alternatives and innovative cooking techniques. However, the industry also faces challenges such as increasing labor costs and the need to address sustainability concerns.
The fast food industry is a dynamic and ever-changing environment. From the rise of food delivery services to the integration of technology in ordering and payment processes, the landscape is constantly evolving. To navigate this landscape, it is essential to explore the leading companies that are driving innovation and setting new standards in the fast food industry.
Ranking
#25 The Habit Restaurants, Inc.
Employees: 4K
Revenue: 400M$
Website: https://www.habitburger.com/
Description: The Habit Restaurants, Inc. is a fast food company headquartered in Irvine, United States. Established in 1969, the company operates in the Food and Beverage industry. With approximately 4,000 employees, The Habit Restaurants, Inc. generates an estimated annual revenue of 400 million US dollars. The company is known for its high-quality, made-to-order charburgers, sandwiches, salads, and shakes. They prioritize fresh ingredients, unique flavors, and a commitment to exceptional customer service. The Habit Restaurants, Inc. has become a popular choice for fast casual dining, offering a diverse menu that caters to a wide range of tastes and preferences.
#24 Shake Shack Inc.
Employees: 2K
Revenue: 600M$
Website: https://www.shakeshack.com/
Description: Shake Shack Inc. is a fast food company operating in the Food and Beverage industry. Headquartered in New York City, United States, Shake Shack was founded in 2004. With approximately 2,000 employees, the company has established itself as a popular destination for high-quality fast food. Shake Shack generates a revenue of around 600 million dollars, offering a variety of burgers, hot dogs, fries, and shakes to its customers. The company's commitment to using premium ingredients and sustainable practices has contributed to its success in the fast food industry.
#23 Bojangles', Inc.
Employees: 2.5K
Revenue: 600M$
Website: https://www.bojangles.com
Description: Bojangles', Inc. is a fast food chain headquartered in Charlotte, North Carolina, United States. Founded in 1977, the company operates in the Food and Beverage industry. Bojangles' specializes in serving Southern-inspired fast food, including fried chicken, biscuits, and various side dishes. With approximately 2,500 employees, the company generates an annual revenue of 600 million dollars. Bojangles' has established itself as a popular fast food option in the United States, known for its flavorful menu items and iconic biscuits.
#22 In-N-Out Burger
Employees: 10K
Revenue: 1B$
Website: https://www.in-n-out.com
Description: In-N-Out Burger is a fast food chain operating in the Food and Beverage industry. The company is headquartered in Irvine, United States. It was founded in 1948 and currently employs approximately 10,000 people. In-N-Out Burger generates an estimated annual revenue of 1 billion US dollars. Known for its iconic burgers and secret menu, In-N-Out Burger has become a popular choice for fast food lovers across North America.
#21 Jack In The Box Inc.
Employees: 22K
Revenue: 1.2B$
Website: https://www.jackinthebox.com
Description: Jack In The Box Inc., headquartered in San Diego, United States, is a prominent fast food chain operating in the Food and Beverage industry. Founded in 1951, the company has grown to employ approximately 22,000 individuals worldwide. With annual revenue of 1.2 billion dollars, Jack In The Box Inc. has established itself as a major player in the fast food market. Known for its diverse menu options including burgers, tacos, and breakfast items, the company continues to expand its reach and satisfy the cravings of its loyal customer base.
#20 Wingstop Inc.
Employees: 1.6K
Revenue: 1.5B$
Website: https://www.wingstop.com
Description: Wingstop Inc., headquartered in Dallas, United States, is a fast-food company operating in the Food and Beverage industry. Founded in 1994, Wingstop is known for its specialty of chicken wings served with a variety of sauces and sides. With approximately 1.6K employees, the company has successfully established itself as a leading brand in the fast-food industry. Wingstop generates an estimated annual revenue of 1.5 billion US dollars, showcasing its significant presence and success in the market.
#19 Culver Franchising System Inc.
Employees: 10K
Revenue: 1.5B$
Website: https://www.culvers.com
Description: Culver Franchising System Inc. is a fast food company operating in the Food and Beverage industry. Headquartered in Prairie du Sac, United States, Culver's was founded in 1984. With a workforce of approximately 10,000 employees, the company has established itself as a prominent player in the fast food industry. Culver's generates an estimated revenue of 1.5 billion dollars annually. Known for their signature ButterBurgers and Fresh Frozen Custard, Culver's offers a diverse menu of high-quality fast food options to its customers. With its commitment to quality ingredients and exceptional customer service, Culver's has built a strong reputation in the fast food industry.
#18 Five Guys Holdings, LLC
Employees: 20K
Revenue: 1.5B$
Website: https://www.fiveguys.com/
Description: Five Guys Holdings, LLC is a fast food company headquartered in Lorton, United States. Founded in 1986, the company has grown to employ approximately 20,000 individuals. With an estimated annual revenue of 1.5 billion US dollars, Five Guys Holdings, LLC operates in the fast food industry, specifically in the food and beverage sector. The company is known for its focus on quality ingredients, customizable menu options, and made-to-order burgers and fries. With locations across North America, Five Guys has become a popular choice for fast casual dining, offering a variety of burgers, hot dogs, sandwiches, and milkshakes to its customers.
#17 Dunkin' Brands Group, Inc.
Employees: 200K
Revenue: 1.5B$
Website: https://www.dunkinbrands.com
Description: Dunkin' Brands Group, Inc., headquartered in Canton, United States, is a leading fast food company in the Food and Beverage industry. Founded in 1950, the company operates primarily in North America. With approximately 200,000 employees, Dunkin' Brands Group, Inc. is known for its iconic Dunkin' and Baskin-Robbins brands. Dunkin' is famous for serving coffee, donuts, and breakfast sandwiches, while Baskin-Robbins is widely recognized for its ice cream and frozen desserts. The company generated a revenue of 1.5 billion dollars, establishing itself as a prominent player in the fast food industry.
#16 The Wendy's Company
Employees: 50K
Revenue: 1.6B$
Website: https://www.wendys.com
Description: The Wendy's Company is a fast food chain headquartered in Dublin, Ohio, United States. Founded in 1969, Wendy's is known for its square hamburgers, sea salt fries, and Frosty desserts. With approximately 50,000 employees, Wendy's operates in the Food and Beverage industry, specifically in the fast food sector. The company generates a revenue of 1.6 billion US dollars. Wendy's is committed to providing quality food, superior service, and an enjoyable dining experience to its customers.
#15 Papa John's International, Inc.
Employees: 16K
Revenue: 1.7B$
Website: https://www.papajohns.com/
Description: Papa John's International, Inc. is a fast food company in the Food and Beverage industry. Headquartered in Louisville, United States, the company was founded in 1984. With approximately 16,000 employees, Papa John's operates in the fast food sector, specifically specializing in pizza delivery and carryout. The company has a strong online presence and offers a wide variety of pizza options, along with sides, desserts, and beverages. Papa John's is known for its quality ingredients, including fresh dough made daily and real cheese. It has established a global presence, with numerous locations across North America, Europe, Asia, and Latin America. With an annual revenue of 1.7 billion dollars, Papa John's is a major player in the fast food industry.
#14 Wendy's Company
Employees: 20K
Revenue: 1.7B$
Website: https://www.wendys.com
Description: The Wendy's Company, headquartered in Dublin, United States, is a prominent fast food chain operating in the Food and Beverage industry. Founded in 1969, the company has a workforce of approximately 20,000 employees. With a revenue of 1.7 billion dollars, Wendy's has established itself as a major player in the fast food industry. The company is well-known for its hamburgers, chicken sandwiches, and salads, offering a diverse menu to cater to different customer preferences. With its focus on quality ingredients and fresh food, Wendy's aims to provide customers with a satisfying and enjoyable dining experience.
#13 Popeyes Louisiana Kitchen, Inc.
Employees: 30K
Revenue: 1.8B$
Website: https://www.popeyes.com
Description: Popeyes Louisiana Kitchen, Inc. is a fast food company headquartered in Miami, United States. Established in 1972, Popeyes specializes in serving delicious Louisiana-style fried chicken and other Southern-inspired dishes. With approximately 30,000 employees, the company operates numerous franchised and company-owned restaurants across North America. Known for its bold flavors and signature sides, Popeyes has become a popular choice for fast food enthusiasts seeking a taste of the South. In 2019, the company reported a revenue of 1.8 billion dollars, solidifying its position as a major player in the fast food industry.
#12 Whataburger Restaurants LLC
Employees: 25K
Revenue: 2.5B$
Website: https://www.whataburger.com
Description: Whataburger Restaurants LLC is a fast food chain headquartered in San Antonio, United States. Founded in 1950, the company has grown to become a prominent player in the fast food industry. With approximately 25,000 employees, Whataburger operates a vast network of restaurants across North America. The company generates an impressive revenue of 2.5 billion dollars annually. Whataburger is known for its signature burgers and has gained a loyal customer base over the years. With its commitment to quality and customer satisfaction, Whataburger continues to thrive in the competitive fast food market.
#11 Domino's Pizza, Inc.
Employees: 20K
Revenue: 3B$
Website: https://www.dominos.com
Description: Domino's Pizza, Inc. is a fast food company headquartered in Ann Arbor, United States. Founded in 1960, the company operates in the Food and Beverage industry, specifically in the fast food sector. With approximately 20,000 employees, Domino's Pizza generates an estimated revenue of 3 billion USD. The company is known for its pizza delivery and carryout services, offering a wide variety of pizzas, sides, and desserts. Domino's Pizza has established a strong presence in the global fast food market, with a focus on providing convenient and tasty food options to customers around the world.
#10 Sonic Corp.
Employees: 24K
Revenue: 4B$
Website: https://www.sonicdrivein.com/
Description: Sonic Corp., headquartered in Oklahoma City, United States, is a leading fast food company in the Food and Beverage industry. Founded in 1953, Sonic operates a chain of drive-in restaurants that offer a wide variety of fast food items including burgers, hot dogs, chicken, and ice cream. With approximately 24,000 employees, Sonic has established itself as a popular destination for customers looking for quick and convenient meals. The company has achieved significant revenue growth, with annual revenue reaching 4 billion dollars. Sonic's unique drive-in concept and diverse menu options continue to attract customers across North America, making it a major player in the fast food industry.
#9 Tim Hortons Inc.
Employees: 1.6K
Revenue: 4.1B$
Website: https://www.timhortons.com
Description: Tim Hortons Inc., headquartered in Toronto, Canada, is a fast food company operating in the Food and Beverage industry. Founded in 1964, Tim Hortons has approximately 1.6K employees. The company generates an estimated annual revenue of 4.1 billion USD. Tim Hortons is renowned for its coffee and baked goods, offering a wide range of menu items including donuts, bagels, sandwiches, and soups. With its focus on quality and convenience, Tim Hortons has become a prominent player in the fast food industry, serving customers across North America.
#8 Little Caesars Enterprises, Inc.
Employees: 12K
Revenue: 4.6B$
Website: https://www.littlecaesars.com
Description: Little Caesars Enterprises, Inc. is a fast-food chain operating primarily in the North American market. Founded in 1959 in Detroit, United States, Little Caesars is known for its affordable and convenient pizza offerings. The company operates a franchise model, with thousands of locations across the continent. Little Caesars has a diverse menu that includes various types of pizza, as well as sides like chicken wings and breadsticks. With its focus on value and quick service, Little Caesars has become a popular choice for customers looking for a quick and affordable meal. The company has experienced significant growth over the years and continues to expand its presence in the fast-food industry.
#7 Chipotle Mexican Grill, Inc.
Employees: 85K
Revenue: 5B$
Website: https://www.chipotle.com/
Description: Chipotle Mexican Grill, Inc. is a fast food company headquartered in Newport Beach, United States. It was founded in 1993. With approximately 85,000 employees, Chipotle operates in the Food and Beverage industry. The company generates an estimated revenue of 5 billion dollars. Chipotle is known for its focus on serving high-quality, customizable Mexican-inspired food made from fresh ingredients. Their menu includes burritos, bowls, tacos, and salads, which customers can personalize with a variety of proteins, toppings, and sauces. Chipotle has a commitment to sustainability and uses responsibly sourced ingredients, including naturally raised meats and organic produce whenever possible.
#6 Panera Bread Company
Employees: 50K
Revenue: 5B$
Website: https://www.panerabread.com
Description: Panera Bread Company is a fast-food chain headquartered in St. Louis, United States. Founded in 1987, the company operates in the Food and Beverage industry. With approximately 50,000 employees, Panera Bread is known for its bakery-café concept, serving a variety of freshly baked goods, sandwiches, soups, salads, and beverages. The company's website, https://www.panerabread.com, provides customers with an online ordering platform and information about their menu options, promotions, and locations. Panera Bread generates an estimated annual revenue of 5 billion dollars, positioning it as a key player in the fast-food industry.
#5 Restaurant Brands International Inc.
Employees: 6.7K
Revenue: 5.6B$
Website: https://www.rbi.com
Description: Restaurant Brands International Inc. is a fast food company headquartered in Toronto, Canada. It was founded in 1954 and currently employs approximately 6.7 thousand people. With a revenue of 5.6 billion dollars, the company operates in the Food and Beverage industry, specifically in the fast food sector. Restaurant Brands International Inc. owns and operates popular fast food chains, including Burger King, Tim Hortons, and Popeyes Louisiana Kitchen. These brands have a global presence, serving a variety of fast food options to millions of customers worldwide. With their diverse menu offerings and strategic locations, Restaurant Brands International Inc. continues to be a major player in the fast food industry, providing convenient and delicious meals to customers around the globe.
#4 Yum! Brands, Inc.
Employees: 34K
Revenue: 5.6B$
Website: https://www.yum.com
Description: Yum! Brands, Inc. is a fast food company headquartered in Louisville, United States. Founded in 1997, the company operates in the Food and Beverage industry, specifically in the fast food sector. With approximately 34,000 employees, Yum! Brands owns and operates various well-known fast food chains including KFC, Pizza Hut, and Taco Bell. The company generates an estimated annual revenue of 5.6 billion dollars. Yum! Brands is known for its global presence, with thousands of locations worldwide and a focus on delivering quick and convenient food options to customers.
#3 Yum China Holdings, Inc.
Employees: 450K
Revenue: 10.2B$
Website: https://www.yumchina.com
Description: Yum China Holdings, Inc. is a fast food company operating in the Food and Beverage industry. Headquartered in Shanghai, China, Yum China was founded in 2016. With approximately 450,000 employees, the company generates a revenue of 10.2 billion USD. Yum China operates a portfolio of brands including KFC, Pizza Hut, and Taco Bell, offering a wide range of fast food options to customers in China. Through its extensive network of restaurants and delivery services, Yum China has established a strong presence in the Chinese fast food market, catering to the diverse tastes and preferences of consumers.
#2 McDonald's Corporation
Employees: 205K
Revenue: 21.1B$
Website: https://www.mcdonalds.com/
Description: McDonald's Corporation, headquartered in Chicago, United States, is a global fast food company operating in the Food and Beverage industry. Founded in 1955, McDonald's is known for its iconic golden arches and is one of the largest fast food chains in the world. With approximately 205,000 employees, the company serves millions of customers daily in its restaurants located across the globe. McDonald's offers a wide range of fast food items, including burgers, chicken sandwiches, fries, and desserts. The company's revenue in 2020 reached 21.1 billion dollars, making it one of the leading players in the fast food industry.
#1 Starbucks Corporation
Employees: 350K
Revenue: 26B$
Website: https://www.starbucks.com
Description: Starbucks Corporation, headquartered in Seattle, United States, is a leading global coffeehouse chain that operates in the fast food industry within the food and beverage sector. Founded in 1971, Starbucks has grown to become one of the most recognized and iconic brands in the world. With approximately 350,000 employees worldwide, Starbucks operates thousands of stores across the globe, offering a wide range of coffee beverages, teas, pastries, and other food items. Renowned for its high-quality coffee and commitment to ethical sourcing, Starbucks has built a strong customer base and continues to expand its presence in both domestic and international markets. In 2020, Starbucks reported a revenue of 26 billion dollars, making it one of the largest players in the fast food industry.
Summary
The fast food industry is a highly competitive sub-industry within the food and beverage sector. Forbes recently conducted an analysis to identify the top companies in this field based on their revenue, market share, and overall brand recognition. The rankings revealed that the leading fast food companies continue to dominate the market and achieve significant accomplishments.
One unexpected finding from the analysis was the continued growth of fast food chains despite increased competition from healthier food options and changing consumer preferences. Despite these challenges, the top companies in the fast food industry have managed to adapt and thrive in the evolving market.
Among the premier companies in the fast food industry are McDonald's, Subway, and Yum! Brands. These companies have established themselves as household names and have a global presence. McDonald's, in particular, stands out as the largest fast food chain in terms of revenue and market share.
One shared element that drives the prosperity of these leading firms is their focus on convenience and affordability. Fast food companies have mastered the art of providing quick and inexpensive meals to consumers, making it an attractive option for busy individuals and families.
What sets these eminent fast food companies apart from their industry rivals is their strong brand recognition and customer loyalty. McDonald's, Subway, and Yum! Brands have built strong brand images over the years, which has helped them maintain a competitive edge. Additionally, these companies have also invested in innovative marketing strategies and menu diversification to cater to changing consumer preferences.