Future Market Insights' latest report paints a promising
picture for the vegan fast food market, driven by a growing focus
on health, sustainability, and animal welfare. Notably,
Germany leads the growth with a
4.7% CAGR, signaling a strong European market. To gain a
comprehensive understanding, the report offers market forecasts,
competition intelligence through company share analysis, and
more.
NEWARK, Del., April 26, 2024 /PRNewswire/ -- The vegan
fast food market is expected to be valued at US$ 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%, which was 4.5% until 2023. By 2034, the market
value is forecasted to hit US$ 28,198.30
million.
Download the Sample PDF report to explore key market
insights and trends:
https://www.futuremarketinsights.com/reports/sample/rep-gb-16198
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.
"The increasing demand for vegan fast food has led to
an unparalleled expansion of the market, with many fast-food chains
and restaurants offering vegan options. This has made it easier for
people to access vegan food, and as a result, more people are
trying it out. In addition, social media has played a significant
role in promoting veganism and vegan fast food, with many
influencers and celebrities endorsing it on their platforms."
Says Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.).
Global Vegan Fast Food Market Report Scope
Attribute
|
Details
|
Estimated Market
Size (2024)
|
US$ 18,943.20
million
|
Projected Market
Size (2034)
|
US$ 28,198.30
million
|
Anticipated Growth
Rate (2024 to 2034)
|
4.1 %
|
Forecast
Period
|
2024 to 2034
|
Historical Data
Available for
|
2019 to 2023
|
Market
Analysis
|
US$ million or billion
for Value and Units for Volume
|
Key Countries
Covered
|
- United States
- Canada
- Brazil
- Mexico
- Germany
|
- Spain
- Italy
- France
- United Kingdom
- Russia
|
- China
- India
- Australia & New Zealand
- GCC Countries
- South Africa
|
Key Segments
Covered
|
By Product
Type:
- Dairy Alternatives
- Meat Substitutes
By End User:
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
|
Key Coverage in the
Vegan Fast Food Market
|
- Plant-based Food Market Report
- Vegan Cuisine Industry Trends Analysis
- Fast Food Industry Assessment
- Vegan Pizza Market Overview
- Vegan Food Pricing Outlook
|
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 responded to the increasing demand
for plant-based food options by introducing a new range of
affordable plant-based meals that are priced lower than their
meat-based counterparts. This move not only caters to the changing
preferences of consumers but also reflects the fast-food industry's
efforts to provide sustainable and environmentally friendly food
choices. Additionally, these menu items are appealing to
health-conscious customers who are seeking healthier options.
Purchase now and gain full access to the
Vegan Fast Food Industry report, featuring comprehensive Market
Forecast, Company Share Analysis, Competition Intelligence, DROT
Analysis, Market Dynamics and Challenges, and Strategic Growth
Initiatives.
About the Author:
Nandini Roy
Choudhury (Client Partner for Food & Beverages at
Future Market Insights, Inc.) has 7+ years of management consulting
experience. She advises industry leaders and explores off-the-eye
opportunities and challenges. She puts processes and operating
models in place to support their business objectives.
She has exceptional analytical skills and often brings thought
leadership to the table.
Nandini has vast functional expertise in key niches, including
but not limited to food ingredients, nutrition & health
solutions, animal nutrition, and marine nutrients. She is also
well-versed in the pharmaceuticals, biotechnology, retail, and
chemical sectors, where she advises market participants to develop
methodologies and strategies that deliver results. Another feather
to her cap manifests in the form of process automation. She is
vocal about bringing automation to the fore to bring a
360-degrees-round revolution in manufacturing sector.
Her core expertise lies in corporate growth strategy, sales and
marketing effectiveness, acquisitions and post-merger integration
and cost reduction. Nandini has an MBA in Finance from MIT School
of Business. She also holds a Bachelor's Degree in Electrical
Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in
journals including Beverage Industry, Bloomberg, and Wine Industry
Advisor.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading market intelligence
and consulting service provider, serving clients in over 150
countries. FMI is headquartered in Dubai and has delivery centers in the UK, the
U.S., and India. FMI's latest
market research reports and industry analysis help businesses
navigate challenges and make critical decisions with confidence and
clarity amidst breakneck competition. Our customized and syndicated
market research reports deliver actionable insights that drive
sustainable growth. A team of expert-led analysts at FMI
continuously tracks emerging trends and events in a broad range of
industries to ensure that our clients prepare for the evolving
needs of their consumers.
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