Veganism has reached its all-time high peak in 2023, and this trend shows no signs of declining. On the other hand, the consumption of fast food is skyrocketing. Together, these factors are set to propel the vegan fast food market to progress at a CAGR of 4.1% through 2034.
The market is anticipated to soar from its present value of US$ 18,943.20 million in 2024 to a staggering US$ 28,198.30 million by 2034, relying on the noticeable switch from animal- to plant-based food.
Investment Opportunities in the Vegan Fast Food Market
Attributes | Details |
---|---|
Market Size, 2024 | US$ 18,943.20 million |
Market Size, 2034 | US$ 28,198.30 million |
Value CAGR (2024 to 2034) | 4.1% |
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Attributes | Details |
---|---|
Product Type | Dairy Alternatives |
Market share in 2024 | 33.2% |
Demand for higher nutritional value products and the popularity of plant-based diets, along with the high demand for products like cheese, are leading the segment's growth. Communities such as celebrities, athletes, and the vegan population are increasingly preferring dairy alternatives to maintain their health while meeting nutritional requirements.
The versatility of plant-based dairy alternatives such as almond milk, soy milk, coconut milk, oat milk, hemp milk, and cashew milk can be used in a wide range of dishes. McDonald's French fries contain hydrolyzed milk as a starting ingredient. Market players can use these milks for fries to meet vegan consumer demand.
Attributes | Details |
---|---|
End Use | Takeout |
Market Share in 2024 | 45.3% |
Demand for quick and easy meal options is driving up the segment’s growth in the current period. With a busy lifestyle and busy schedules, individuals are preferring the takeout options. Also, the takeout segment is attracting a wider consumer base due to its variety of tasty options offerings in a jiffy.
Countries | CAGR from 2024 to 2034 |
---|---|
United States | 3.5% |
China | 3.0% |
Germany | 4.7% |
Japan | 2.5% |
India | 6.9% |
The CAGR of the market in the United States for the forecast period is anticipated to be 3.5%. Some of the factors influencing the growth of the market in the country are:
The market in China is expected to register a CAGR of 3.0% through 2034. Some of the factors responsible for the growth of the market are:
The market in Germany is expected to progress at a CAGR of 4.7% for the forecast period. Some factors influencing the development are:
The market in Japan is expected to progress at a CAGR of 2.5% throughout the forecast period. Some factors influencing the progress are:
The market in India is expected to progress at a CAGR of 6.9%. Some factors influencing the demand are:
Taco Bell, Chipotle, Jamba Juice, and Starbucks are just a few of the multinational fast-food chains that are likely to play key roles in the growth of the plant-based fast-food sector. Fast food chains that serve vegetarian burgers, sausages, and milk are influencing consumer tastes toward plant-based fast food. FMI predicts that demand for vegan fast food will increase over the coming years.
The rise in concerns about animal cruelty and the need for nutritional food among consumers has increased the demand for various vegan fast food options, which are already available in meat and dairy-based options. This has further intensified the competition in the market.
Recent Development
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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 Regions Covered | North America, Latin America, Europe, Middle East & Africa (MEA), East Asia, South Asia and Oceania |
Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
Key Segments Covered | By Product Type, By End User |
Key Companies Profiled |
|
Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The CAGR of the market in the United States from 2024 to 2034 is estimated to be 3.5%.
The market is expected to develop at a CAGR of 4.1% from 2024 to 2034.
The vegan fast food market size is expected to be worth US$ 18,943.20 million in 2024.
The CAGR of the market in China from 2024 to 2034 is estimated to be 3.0%.
The market is estimated to get as big as US$ 28,198.30 million by 2034.
The market can be divided into the following segments: product type, end user, and region.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Manufacturer
3.5.1.2. Mid-Level Participants (Traders)
3.5.1.3. Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
4.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Analysis, 2019 to 2023
4.2. Current and Future Market Size Value (US$ Million) & Volume (Unit Package) Projections, 2024 to 2034
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Unit Package) Analysis By Product Type, 2019 to 2023
5.3. Current and Future Market Size Value (US$ Million) & Volume (Unit Package) Analysis and Forecast By Product Type, 2024 to 2034
5.3.1. Dairy Alternatives
5.3.2. Meat Substitutes
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2019 to 2023
5.5. Absolute $ Opportunity Analysis By Product Type, 2024 to 2034
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Unit Package) Analysis By End-User, 2019 to 2023
6.3. Current and Future Market Size Value (US$ Million) & Volume (Unit Package) Analysis and Forecast By End-User, 2024 to 2034
6.3.1. Takeout
6.3.2. Dine-in
6.4. Y-o-Y Growth Trend Analysis By End-User, 2019 to 2023
6.5. Absolute $ Opportunity Analysis By End-User, 2024 to 2034
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Unit Package) Analysis By Region, 2019 to 2023
7.3. Current Market Size Value (US$ Million) & Volume (Unit Package) Analysis and Forecast By Region, 2024 to 2034
7.3.1. North America
7.3.2. Latin America
7.3.3. Western Europe
7.3.4. Eastern Europe
7.3.5. South Asia and Pacific
7.3.6. East Asia
7.3.7. Middle East and Africa
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
8.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By End-User
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By End-User
8.4. Key Takeaways
9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
9.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Product Type
9.2.3. By End-User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By End-User
9.4. Key Takeaways
10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
10.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. UK
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Western Europe
10.2.2. By Product Type
10.2.3. By End-User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By End-User
10.4. Key Takeaways
11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
11.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
11.2.1. By Country
11.2.1.1. Poland
11.2.1.2. Russia
11.2.1.3. Czech Republic
11.2.1.4. Romania
11.2.1.5. Rest of Eastern Europe
11.2.2. By Product Type
11.2.3. By End-User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By End-User
11.4. Key Takeaways
12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
12.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Bangladesh
12.2.1.3. Australia
12.2.1.4. New Zealand
12.2.1.5. Rest of South Asia and Pacific
12.2.2. By Product Type
12.2.3. By End-User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By End-User
12.4. Key Takeaways
13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
13.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.2. By Product Type
13.2.3. By End-User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Type
13.3.3. By End-User
13.4. Key Takeaways
14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Unit Package) Trend Analysis By Market Taxonomy, 2019 to 2023
14.2. Market Size Value (US$ Million) & Volume (Unit Package) Forecast By Market Taxonomy, 2024 to 2034
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Product Type
14.2.3. By End-User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Type
14.3.3. By End-User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2023
15.1.2.1. By Product Type
15.1.2.2. By End-User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2023
15.2.2.1. By Product Type
15.2.2.2. By End-User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2023
15.3.2.1. By Product Type
15.3.2.2. By End-User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2023
15.4.2.1. By Product Type
15.4.2.2. By End-User
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2023
15.5.2.1. By Product Type
15.5.2.2. By End-User
15.6. UK
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2023
15.6.2.1. By Product Type
15.6.2.2. By End-User
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2023
15.7.2.1. By Product Type
15.7.2.2. By End-User
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2023
15.8.2.1. By Product Type
15.8.2.2. By End-User
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2023
15.9.2.1. By Product Type
15.9.2.2. By End-User
15.10. Poland
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2023
15.10.2.1. By Product Type
15.10.2.2. By End-User
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2023
15.11.2.1. By Product Type
15.11.2.2. By End-User
15.12. Czech Republic
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2023
15.12.2.1. By Product Type
15.12.2.2. By End-User
15.13. Romania
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2023
15.13.2.1. By Product Type
15.13.2.2. By End-User
15.14. India
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2023
15.14.2.1. By Product Type
15.14.2.2. By End-User
15.15. Bangladesh
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2023
15.15.2.1. By Product Type
15.15.2.2. By End-User
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2023
15.16.2.1. By Product Type
15.16.2.2. By End-User
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2023
15.17.2.1. By Product Type
15.17.2.2. By End-User
15.18. China
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2023
15.18.2.1. By Product Type
15.18.2.2. By End-User
15.19. Japan
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2023
15.19.2.1. By Product Type
15.19.2.2. By End-User
15.20. South Korea
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2023
15.20.2.1. By Product Type
15.20.2.2. By End-User
15.21. GCC Countries
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2023
15.21.2.1. By Product Type
15.21.2.2. By End-User
15.22. South Africa
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2023
15.22.2.1. By Product Type
15.22.2.2. By End-User
15.23. Israel
15.23.1. Pricing Analysis
15.23.2. Market Share Analysis, 2023
15.23.2.1. By Product Type
15.23.2.2. By End-User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product Type
16.3.3. By End-User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Really Happy Chicken
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Vurger
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Oowee
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Burgerme
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Veggie Grill
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. Lord of the Fries
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. GoodDot
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. Phil's Burger AB
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. Greens and Grains
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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