Australia's fast food sector is hitting a decade-high growth spurt, proving resilient despite the soaring popularity of appetite-suppressing medications like Ozempic and Mounjaro.
A new report from data firm GapMaps reveals a surge in development, with 359 outlets opening nationwide last year against just 109 closures.
The expansion is being fueled by rapid population growth and a "time-poor" workforce increasingly hunting for value amidst persistent cost-of-living pressures.
The battlefield has shifted primarily to drive-through locations, which are now described by industry experts as "extremely scarce" and "difficult to find."
Guzman y Gomez (ASX:GYG) is leading this charge, with founder Steven Marks confirming that 85% of future openings will focus on drive-throughs to capitalise on their superior performance.
While global titans like KFC and McDonald's added a combined 54 net locations, Mexican-themed chains stole the spotlight; Zambrero and Guzman y Gomez expanded by 31 and 27 stores, respectively.
Market analysts suggest that while weight-loss drugs are curbing appetites, they aren't killing cravings.
Citi's Sam Teeger noted that rather than abandoning "cheat meals," many consumers are simply trading down to smaller, cheaper menu items.
The shift is particularly evident in Melbourne, which officially overtook Sydney in 2025 for the highest total number of fast-food locations.
With private equity firms now circling—highlighted by the recent $1 billion sale of El Jannah—Australia's appetite for quick-service retail shows no signs of slowing down.