Published on 16 Nov 2021 on Insider Monkey via Yahoo Finance
In this article, we discuss the 10 best fast-food stocks to buy now. You can skip our detailed analysis of the fast-food stocks and go directly to read the 5 Best Fast Food Stocks to Buy Now.
The fast-food industry suffered huge losses in the face of the pandemic, ending 2020 with the closure of over 110,000 restaurants in the U.S. This, however, opened new avenues for the fast-food industry, shifting the focus to online delivery through digital channels. The pandemic-centric restrictions allowed the fast-food chains to expand their digital ordering channels to provide contactless deliveries for the convenience of customers. According to McKinsey & Company, in the U.S., food delivery saw an 8% growth in 2020, becoming a global market, worth $150 billion.
According to a report by Ibis World, the U.S. fast-food market size is valued at $278.6 billion in 2021, presenting an 8.9% growth from 2020. The growth is attributed to the drive-thrus, self-ordering, online orders, and a shift to expanded vegan options.