Authored By: Sarah
11 Jul 2024

 Vegan Fast Foods Market Size to grow by USD 18.91 billion between 2024-2028

According to a research report “ Vegan Fast Foods Market” by End-user (Take-out, Dine in) Geography (North America, Europe, APAC, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 18.91 billion, at a CAGR of  11.64% during the forecast period. The vegan lifestyle, characterized by the exclusion of animal products in food and clothing, is experiencing significant growth due to increasing consumer awareness and ethical concerns. According to recent data, the global vegan population has grown by approximately 300% over the last decade. This trend is driving the expansion of the vegan fast food market, as consumers seek nutritious, plant-based alternatives to traditional fast food options. The health benefits associated with veganism, coupled with ethical considerations, are key factors fueling this market's growth during the forecast period.

Browse market data tables, figures, and in-depth TOC on “Vegan Fast Foods Market” by End-user (Take-out, Dine in) Geography (North America, Europe, APAC, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample

 

By End-user, the Take-out segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The vegan fast food market is experiencing significant growth, driven by increasing consumer awareness and demand for plant-based options. Companies are responding with innovative product offerings, including meatless burgers, vegan nuggets, and plant-based milkshakes. This trend is expected to continue, as more consumers adopt vegan diets for health, ethical, and environmental reasons. The market is projected to reach substantial growth in the coming years, presenting lucrative opportunities for businesses in the sector.

North America is forecasted to hold the largest market size by region in 2024

The vegan fast food market is experiencing significant growth, driven by increasing consumer awareness and demand for ethical and sustainable food options. Key players in this sector are innovating to meet consumer preferences, offering a wide range of plant-based burgers, nuggets, sandwiches, and other menu items. Investment in research and development is crucial to remain competitive and cater to evolving consumer tastes. The market's future looks promising, with continued expansion expected as more consumers adopt vegan diets for health, environmental, and ethical reasons.

The Vegan Fast Foods Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alpro UK Ltd.
  • Amys Kitchen Inc.
  • Archer Daniels Midland Co.
  • Beyond Meat Inc.
  • Blue Tribe
  • Danone SA
  • Dominos Pizza Inc.
  • Good Dot Enterprises Pvt. Ltd.
  • Goshen Foods
  • Israel Chemicals Ltd.
  • McDonald Corp.
  • Nestle SA
  • Otsuka Holdings Co. Ltd.
  • Papa Johns International Inc.
  • Plamil Foods Ltd.
  • The Kraft Heinz Co.
  • The Wendys Co.
  • Tofutti Brands Inc
  • VBites Foods Ltd.
  • Wakao Foods
.

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Research Analysis Overview

The vegan fast food market is experiencing a surge in popularity, particularly in urban centers where health consciousness and ethical concerns are on the rise. Chronic diseases linked to saturated fats, meat consumption, and animal-derived ingredients have led many individuals to seek out plant-based alternatives. Social media influencers and celebrities have played a significant role in promoting veganism as a trendy and healthier option. Global food trends indicate that vegan options are no longer limited to salads, sandwiches, or beverages. Vegan pizzas, wraps, burgers, and even desserts are now common offerings. The Indian palate, known for its rich and diverse flavors, is also embracing veganism with plant-based versions of traditional dishes. Flexitarian individuals, who consume mostly plant-based foods but occasionally include animal-derived products, are also driving demand for vegan options. Protein content and nutritional value are key considerations for health-conscious consumers, making plant-based alternatives an attractive choice. Eggs and dairy are common animal-derived ingredients that are being replaced with plant-based alternatives. The vegan fast food market offers a wide range of options, from meatless burgers to vegan pizzas, wraps, and sandwiches. These dishes not only cater to health-conscious individuals but also to those who are ethically concerned about animal welfare. With the growing popularity of veganism, it is expected that the market for vegan fast food will continue to expand.

Market Research Overview

The vegan foods market is experiencing exponential growth, with consumers seeking out plant-based alternatives to traditional animal-derived products. This trend is evident in both online and offline channels, including e-commerce platforms, vegan-friendly restaurants, specialty stores, and supermarkets. The distribution of vegan-friendly items has expanded beyond bakery items, snacks, protein bars, and prepared meals to include vegan cheeses, yogurt, frozen novelties, ice cream, and vegan creamers. Culinary innovation is at the forefront of this market, with a focus on taste and texture that rivals animal-derived counterparts. Consumer awareness and health consciousness are driving demand for cost-effective ingredient solutions, leading to the development of new plant-based proteins and alternative dairy products. The vegan market caters to various dietary preferences, including those seeking allergy-friendly options, ethical consumers, and health-conscious individuals. Traditional Indian flavors, such as dahi vada, pani puri, tandoori masala, jackfruit kebabs, vegan samosas, and plant-based meat alternatives, are gaining popularity alongside Western vegan options. Social media, celebrity endorsements, and influencer marketing are key drivers of this market, with Gen Z and millennials leading the charge. Consumers are increasingly conscious of the environmental impact of their food choices, with concerns over ethics, animal welfare, greenhouse gas emissions, water pollution, deforestation, and animal agriculture. Quick-service restaurants, food trucks, and restaurants and cafes are also embracing the vegan trend, offering vegan desserts, salads, sandwiches, pizzas, wraps, burgers, and more. The vegan population is growing, with a focus on sustainable choices, recyclable packaging materials, and eco-friendly practices. The vegan pasta and vegan flavor markets are also experiencing significant growth, with flexitarian individuals making up a large portion of the market. The vegan market offers a wide range of nutritional food options, including vegetables, legumes, seitan, tempeh, tofu, eggs, dairy, meat, and animal-derived ingredients. Alternative dairy products, such as vegan butter, yogurt, and ice cream, are gaining popularity, as are vegan beverages and desserts. The market is expected to continue growing, with a focus on product development innovation and ethical considerations.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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