2012-09-27 14:39:36 -
Japanese fast food market dominated by 7-Eleven with a 24% share
As a result of the March 2011 earthquake, the Japanese fast food market grew by 3% in current value terms in 2011.While many industries suffered as a result of consumers´ tendency to cut down their spending, fast food faced a positive impact. At the same time as they looked for economy options, consumers accelerated their tendency to avoid cooking at home. The Japanese fast food market generated total revenues of $32.5 billion in 2011, representing a compound annual growth rate (CAGR) of 1.3% between 2007 and 2011. The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.7% for the five-year period 2011 - 2016, which is expected to drive the market to a value of
$41 billion by the end of 2016.Consumers intended to reduce the amount of energy used at home as well as fearing another possible earthquake and fallout blaze triggered by the earthquake. Fast food catered for consumers´ combined needs for economy and home meal replacement, resulting in a positive growth.7-Eleven Japan Co Ltd continued to dominate the Japanese fast food market during 2011 with a 24% value share. The company strengthened its leading position by increasing sales by 7%. Taking advantage of the largest geographical coverage across Japan with 13,865 outlets, the company benefited from the increasing popularity of convenience stores fast food most.The rapid growth of fast food was derived mainly from the strong growth of convenience stores fast food, which accounted for 56% of the fast food category in 2011. Convenience stores fast food, benefiting from the accelerated popularity of home meal replacement after the March 2011 earthquake, grew 5% in current value terms in 2011.It is estimated that the Japanese fast food market will register a 2% constant value through to 2016. The fast food category is promising compared with other areas of consumer foodservice, as the number of single-person households is likely to grow. Furthermore, the fact that manufacturers will focus on expanding their outlets in suburbs or the countryside is likely to be another factor contributing to growth, as they offer potential for sales.For more information on the Japanese fast food market, see the latest research: Japanese Fast Food MarketFollow us on Twitter @CandMResearch
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