Australia’s fast food sector is thriving, with annual spending surpassing $30 billion across various franchise outlets. Research by ANZ’s Food, Beverage and Agribusiness Insights reveals that the typical Australian household allocates approximately $2,000 yearly to fast food options.
This financial commitment has led to a surge in new restaurant openings, with popular chains like Guzman Y Gomez launching 27 outlets, KFC introducing 23, and McDonald’s adding 19 new locations in the past year alone. Notably, data suggests that around one in five meals consumed in Australia is now sourced from fast food establishments.
According to Michael Whitehead, ANZ’s Food, Beverage and Agribusiness Insights Executive Director, the growth trajectory for fast food is impressive. Projections indicate that by 2030, Australia may boast over 30,000 quick-service restaurants. Global brands are keenly entering the Australian market, drawn by this momentum.
In a significant move, American fast food giant Wendy’s has opened its inaugural location in Surfers Paradise, eyeing a chance to capture market share from McDonald’s. Wendy’s Australia CEO Richard Wallis expressed ambitions to establish 200 restaurants nationwide over the next decade. Additionally, new entries such as Five Guys, Wingstop, and Jollibee are launching eateries in Australia, while Popeyes is also planning expansions.
The fast food industry, now valued in the billions, appears poised for continued growth. Whitehead indicated that this trend is likely to persist as long as Australians deem these options convenient and aligned with their lifestyle choices. The appeal of fast food as an occasional treat remains strong, suggesting that the industry will thrive for the foreseeable future.