The vegan fast food market is expected to be valued at USD 18,943.20 million in 2024. The market’s progress is projected to be invigorating from 2024 to 2034, with a CAGR of 4.1%. By 2034, the market value is forecasted to hit USD 28,198.30 million.
The global vegan fast food market is predicted to develop due to increased knowledge about the benefits of a vegan diet. An additional factor, such as growing awareness of animal health and cruelty in the food industry, has encouraged individuals to transition from animal-based to plant-based fast food, which has contributed to the market’s growth.
Health concerns are one of the primary reasons why people are turning toward 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 that are free from 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 fiber and low in unhealthy saturated fats.
Increasing 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 animal agriculture being a leading 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 rising popularity of vegan fast food. Many people are concerned 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 estimated to register a CAGR of 4.1%, with its valuation reaching US$ 28,198.30 million by 2034.
- The dairy alternatives segment is anticipated to dominate the market by holding a 33.2% market in 2024.
- The vegan fast food market in the United States is estimated to develop at a CAGR of 3.5% through 2034.
- The vegan fast food industry in Germany is expected to increase at a 4.7% CAGR through 2034.
- The vegan fast food industry in China is anticipated to develop at a CAGR of 3.0% through 2034.
- The vegan fast food industry in Japan is projected to inflate at a CAGR of 2.5% through 2034.
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 vegetarian burgers, sausages, and milk, are shaping consumer preferences for vegan fast food.
As per FMI’s predictions, the demand for vegan fast food is set to increase in the upcoming years due to factors such as rising concerns about animal cruelty and the need for nutritious food among consumers. This, in turn, has led to a surge in competition in the market.
Recent Development
- In 2024, Burger King Germany introduced a range of plant-based meals that are priced lower than their meat-based counterparts. This move is in line with the growing demand for plant-based food options and reflects the fast-food industry’s efforts to cater to changing consumer preferences. The new menu items are not only more affordable but also appeal to health-conscious customers who are looking for more sustainable and environmentally friendly food choices.
- 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 plant-based chicken substitute and is topped with BBQ sauce, onions, green peppers, and dairy-free cheese. This new addition to the menu is an attempt to tap into 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 cater to the increasing demand for vegan and vegetarian options. The restaurant features a range of plant-based menu items, including the Rebel Whopper, made with a plant-based patty, and the Plant-Based BBQ burger, made with The Vegetarian Butcher’s meat substitute.
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Key Segments
By Product Type:
- Dairy Alternatives
- Meat Substitutes
By End User:
- Takeout
- Dine-in
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
About Future Market Insights (FMI)
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