THE vegan fast food market should be assessed at 18,943.20 million USD in 2024. The market growth is expected to be invigorating from 2024 to 2034, with a CAGR of 4.1%By 2034, the market value is expected to reach 28,198.30 million USD.
The global vegan fast food market is expected to grow due to the increasing awareness about the benefits of a vegan diet. An additional factor such as the growing awareness about animal health and cruelty in the food industry has encouraged individuals to shift from animal-based fast food to plant-based fast food, which has contributed to the growth of the market.
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Health concerns are one of the main reasons why people are turning to veganism and vegan fast food. With the growing awareness of the negative impact of meat-based diets on human health, many people are looking for healthier alternatives.
Vegan fast food offers a range of options without animal products, including burgers, wraps and sandwiches. These meals are often made from whole foods, such as vegetables, fruits and legumes, which are high in essential nutrients and fibre and low in unhealthy saturated fats.
Growing environmental awareness is another factor driving the demand for vegan fast food. The meat industry is known to have a significant impact on the environment, with livestock farming being a major contributor to greenhouse gas emissions, water pollution, and deforestation. By choosing vegan fast food, consumers can reduce their carbon footprint and contribute to a more sustainable future.
Ethical considerations are also a major factor behind the growing popularity of vegan fast food. Many people care about animal welfare and are looking for ways to reduce their impact on animals. By choosing vegan fast food, consumers can avoid contributing to the exploitation and suffering of animals often associated with the meat industry.
Key Takeaways from the Vegan Fast Food Market
- The vegan fast food market is expected to register a CAGR of 4.1%, with a valuation reaching US$ 28,198.30 Mn by 2034.
- The dairy alternatives segment is expected to dominate the market by holding 33.2% of the market share in 2024.
- The vegan fast food market in the United States is expected to grow at a CAGR of 3.5% through 2034.
- The vegan fast food industry in Germany is expected to grow at a CAGR of 4.7% by 2034.
- The vegan fast food industry in China is expected to grow at a CAGR of 3.0% by 2034.
- The vegan fast food industry in Japan is expected to grow at a compound annual rate of 2.5% through 2034.
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Competitive landscape
The plant-based fast food sector is expected to witness significant growth, with multinational fast food chains such as Taco Bell, Chipotle, Jamba Juice, and Starbucks playing a crucial role in this expansion. These chains, which serve veggie burgers, sausages, and milk, are shaping consumer preferences for vegan fast food.
According to IMF forecasts, the demand for vegan fast food is expected to increase in the coming years due to factors such as growing concerns about animal cruelty and the need for nutritious food among consumers. This has, in turn, led to an increase in competition in the market.
Recent development
- In 2024, Burger King Germany launched a range of plant-based dishes that are priced lower than meat-based dishes. The move is in line with the growing demand for plant-based foods and reflects the fast food industry’s efforts to meet changing consumer preferences. The new dishes are not only more affordable, but also appeal to health-conscious customers looking for more sustainable and environmentally friendly food options.
- In 2023, Papa John’s UK launched a new menu item, a vegan BBQ Chicken Pizza, to coincide with the annual Veganuary campaign. The pizza is made with a plant-based chicken substitute and is topped with barbecue sauce, onions, green peppers and dairy-free cheese. This new addition to the menu is an attempt to meet the growing demand for vegan food options and cater to customers looking for more plant-based choices. Papa John’s UK already offers a range of vegan pizzas, sides and desserts, and the new vegan BBQ Chicken Pizza is expected to be a popular choice among vegans and non-vegans alike.
- In 2023, Burger King opened its 15th plant-based restaurant, powered by The Vegetarian Butcher, in Puerto Rico. The move is part of the company’s ongoing efforts to expand its plant-based offerings and meet the growing demand for vegan and vegetarian options. The restaurant offers a range of plant-based dishes, including the Rebel Whopper, made with a plant-based patty, and the Plant-Based BBQ Burger, made with The Vegetarian Butcher’s meat substitute.
Key segments
By product type:
- Alternatives to dairy products
- Meat substitutes
By the end user:
By region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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