New York, United States, August 23, 2024 (GLOBE NEWSWIRE) — The global vegan fast food market is expected to grow from USD 24.11 billion in 2023 to USD 70.42 billion by 2033, growing at a compound annual growth rate (CAGR) of 11.31% during the forecast period.
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Vegan fast food refers to quick meals that are completely plant-based, meaning they do not contain any animal products such as meat, dairy, eggs or honey. This type of food responds to the growing demand for healthier, environmentally friendly and cruelty-free meals. Fast food has long been associated with unhealthy and animal products, but the rise of veganism and increased awareness of its benefits has led to the development of vegan substitutes. Vegan fast food includes plant-based burgers, dairy-free cheese, vegan nuggets and fries, all prepared in a convenient and affordable way similar to traditional fast food. Many popular fast food restaurants are adding vegan options to their menus, acknowledging a shift in consumer tastes. As more people adopt a plant-based diet for health, ethical or environmental reasons, the vegan fast food industry is growing rapidly, allowing anyone to enjoy delicious, convenient meals without compromising their values. As more people become aware of the numerous health benefits of a plant-based diet, the demand for vegan fast food options is increasing. Plant-based diets have been shown to reduce the risk of chronic diseases such as heart disease, diabetes and certain types of cancer, leading many people to rethink their eating habits. This change is motivated by a genuine desire to live healthier and improve health in the long term, not simply following a trend. This growing awareness and desire for better health is encouraging more and more people to explore and incorporate vegan options into their daily diets. However, the price difference in vegan fast food could deter budget-conscious consumers and slow market adoption.
Browse important industry insights on 210 pages with 110 market data tables and figures & charts from the report on the Global market for vegan fast food Size, Share and COVID-19 Impact Analysis by Product Type (Vegan Burgers, Vegan Pizza, Vegan Sandwiches/Wraps, Vegan Salads, Vegan Desserts), by Distribution Channel (Restaurants & Cafes, Fast Food Chains, Food Trucks, and Online Platforms), by Consumer Preferences (Health Conscious Consumers, Ethical Consumers, Allergy-Friendly Options Seekers, and Convenience Seekers), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), Analysis and Forecast 2023 – 2033.”
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The vegan burgers Segment dominates the market with the highest market share in the global vegan fast food market during the forecast period.
Based on product type, the vegan fast food market is segmented into vegan burgers, vegan pizza, vegan sandwiches/wraps, vegan salads and vegan desserts. These includeHe The vegan burger segment dominates the market with the highest market share in the vegan fast food market during the forecast period. Vegan burgers offer a tasty and familiar alternative to traditional meat burgers. Their taste and texture have improved significantly, making them attractive to both vegans and non-vegans looking for healthier or more eco-friendly alternatives. Moreover, the growing popularity of plant-based diets and the availability of vegan burgers in major fast food chains have boosted their demand and cemented their position as the first choice in the vegan fast food market.
The online platform segment is expected to witness the highest compound annual growth rate (CAGR) during the forecast period.
Based on distribution channel, the global vegan fast food market is segmented into restaurants and cafes, fast food chains, food trucks and online platforms. These includeHe The online platforms segment is expected to grow at the highest CAGR during the forecast period. Customers benefit from unprecedented convenience and accessibility through online platforms. People can easily order meals from their favorite restaurants and have them delivered right to their doorsteps with just a few clicks. This ease of use, combined with the growing popularity of food delivery apps and the increasing demand for quick, hassle-free food options, has led to an increase in the use of online food delivery platforms, which now represent a fast-growing segment of the food services market.
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North America is expected to hold the largest share of the global vegan fast food market during the forecast period..
North America is expected to hold the largest share in the global vegan fast food market during the forecast period. The primary reason for this is the widespread awareness and acceptance of vegan diets among consumers, especially in the US and Canada. The presence of major fast food chains that have successfully included vegan options in their menus has contributed to the growth of the market.
Europe is expected to witness the fastest growth in the global vegan fast food market during the forecast period. Countries such as the UK, Germany, and France dominate the market. The region’s strong market presence is attributed to the high environmental and ethical awareness among consumers, which leads to a rise in the consumption of plant-based foods. European consumers are highly health conscious, which increases the demand for nutritious and eco-friendly foods. The introduction of vegan fast food options by international and local fast food chains has driven the market expansion.
Major vendors in the global vegan fast food market include McDonald’s Corporation, KFC Corporation, Subway, Taco Bell, Burger King Corporation, Domino’s Pizza, Inc., Beyond Meat, Impossible Foods, Amy’s Kitchen, Veggie Grill, By CHLOE, Plant Power Fast Food, Pret a Manger, Next Level Burger, Häagen-Dazs and others.
Competitive analysis:
The report offers the appropriate analysis of the major organizations/companies involved in the global market along with a comparative assessment primarily based on their product offerings, business overviews, geographical presence, corporate strategies, segment market share, and SWOT analysis. The report also offers an in-depth analysis with a focus on the latest news and developments of the companies which include product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This enables to evaluate the overall competition in the market. Major Key Vendors in Global Vegan Fast Food Market: McDonald’s Corporation, KFC Corporation, Subway, Taco Bell, Burger King Corporation, Domino’s Pizza, Inc., Beyond Meat, Impossible Foods, Amy’s Kitchen, Veggie Grill, By CHLOE, Plant Power Fast Food, Pret a Manger, Next Level Burger, Häagen-Dazs. and other major companies.
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Recent developments
- In June 2024 McDonald’s McPlant burger was introduced in Europe, but the trial run in the US was unsuccessful, according to the company. The company said there was little demand for healthier options at McDonald’s in the US and salads were discontinued due to low sales.
Market segment
This study forecasts revenue at global, regional and country levels from 2020 to 2033. Spherical Insights has segmented the global vegan fast food market based on the below mentioned segments:
Global vegan fast food market by product type
- Vegan burgers
- Vegan Pizza
- Vegan Sandwiches/Wraps
- Vegan salads
- Vegan desserts
Global vegan fast food market by distribution channel
- Restaurants and cafes
- Fast food chains
- Food truck
- Online platforms
Global vegan fast food market by consumer preferences
- Health-conscious consumers
- Ethical consumers
- Seekers of allergy-friendly options
- Convenience seekers
Global vegan fast food market, by regional analysis
- North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East and Africa
- United Arab Emirates
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East and Africa
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