Vegan Fast Food Market

Vegan Fast Food Market Outlook from 2024 to 2034

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 USD 18,943.20 million in 2024 to a staggering USD 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

• By focusing on investing in and providing quality ingredients, manufacturers can gain maximum market share in the coming years. As consumers become more health-conscious, they start preferring ingredients sourced from natural sources that are nutritionally complete and essential for the body. Thus, manufacturers can include these ingredients in their food to attract health-conscious individuals during the forecast period.
• Offering a variety of product lines is anticipated to emerge as a key investment opportunity for vegan fast-food producers in the projected period. Products such as burgers, wraps, pizzas, and other items are gaining popularity currently. Introducing different vegan options in the market is going to prove highly beneficial. Also, food producers can emphasize the sustainability standards of their products by using environmentally friendly packaging or implementing sustainable production practices.

Attributes	Details
Market Size, 2024	USD 18,943.20 million
Market Size, 2034	USD 28,198.30 million
Value CAGR (2024 to 2034)	4.1%

Some Challenges for the Vegan Fast Food Market

• Low nutritional content could hamper market growth in the coming years. Nutrient deficits, such as a lack of protein content, have also been linked to the vegan diet. As a result of not getting enough protein, vegans may face a variety of health problems.
• The high price of vegan fast food poses a significant barrier to the market. Due to raw material price fluctuations, processing vegan fast food can be expensive at times. Furthermore, the low prices of alternatives such as animal-derived products, which appeal to flexitarian individuals, are anticipated to hinder market growth during the projected period.

Category Wise Insights

The Dairy Alternatives Segment is Dominating the Market by Product Type

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.

The Takeout Segment is dominating the Market by End Use

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.

Country wise insights

Countries	CAGR from 2024 to 2034
United States	3.5%
China	3.0%
Germany	4.7%
Japan	2.5%
India	6.9%

Trend toward a Plant-based Diet is On the Rise in the United States

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 trend toward a plant-based diet is on the rise due to health, environmental, and ethical reasons. The growing awareness of the environment and animal welfare has led to an outpouring in demand for vegan food choices. Fast food chains such as Starbucks, KFC, Burger King, and McDonald's are presenting vegan menus to cater to changing consumer partiality.
• Food tech startups in the United States are making vegan fast food more accessible and cost-effective, bridging the gap between traditional fast food and vegan options. This is anticipated to lead to the expansion of the vegan market.

Manufacturers are Actively Investing in Research and Development to Formulate New Products in China

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:

• China’s government encourages reducing meat consumption, presenting opportunities for foreign brands to introduce vegan fast food products in the country.
• Manufacturers are actively investing in research and development to formulate new products that are beneficial for health. They are also developing alternative options to traditional products, such as vegan dairy products, vegan meat, and others, which expand the market growth rate in China.

Germany's Green Food Rebellion, Specifically Its Focus on Vegan Fast Food and Sustainability

The market in Germany is expected to progress at a CAGR of 4.7% for the forecast period. Some factors influencing the development are:

• Individuals in Germany are trying to reduce animal-based food consumption by replacing it with multiple alternatives, and market players are providing options by manufacturing vegan and plant-based foods.
• In Germany, consumers deviously adopt flexitarian and vegetarian diet concepts. Therefore, companies such as Burger King have made significant strides by offering a variety of vegan food products. Companies are also manufacturing and offering recyclable packaging materials with food to contribute to environmental sustainability.

Japan's Culinary Advancement, With Vegan Ramen and Sushi Taking Center Stage

The market in Japan is expected to progress at a CAGR of 2.5% throughout the forecast period. Some factors influencing the progress are:

• Japan’s rich culinary heritage allows for the creation of multiple variations in the vegetarian food market to manufacture culturally relevant options. The iconic Japanese dish ramen and sushi is presented in vegan versions that cater to diverse tastes.
• Fast-food outlets are experimenting with food options to gain consumer attraction to the vegan diet, which is probable to impact the vegan market growth.

India Highlights the Use of Plant-based Ingredients to Fuel Vegan Fast Food Consumption

The market in India is expected to progress at a CAGR of 6.9%. Some factors influencing the demand are:

• In India, changing diet patterns and the demand for sustainable choices are expanding the vegan fast food market.
• Local and global brands are introducing innovative products. For instance, Piperleaf has introduced India's first plant-based milk chocolate and a plant-based egg alternative, aiming to make plant-based meals more accessible to everyone. This helps to increase the production of vegan food and meet the growing demand in the vegan fast food market.

Competitive Landscape

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

• 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.

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

Global Vegan Fast Food Market Report Scope

Attribute	Details
Estimated Market Size (2024)	USD 18,943.20 million
Projected Market Size (2034)	USD 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	USD 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	McDonald's Corporation; KFC Corporation; Subway; Taco Bell; Burger King Corporation; Domino's Pizza, Inc.; Papa John's International, Inc.; Dunkin' Brands Group, Inc.; Chipotle Mexican Grill, Inc.; Pizza Hut, Inc. GoyaOceania
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

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

Frequently Asked Questions

How will the Vegan Fast Food Adoption Progress in the United States?

The CAGR of the market in the United States from 2024 to 2034 is estimated to be 3.5%.

What is the Scope of the Vegan Fast Food Market?

The market is expected to develop at a CAGR of 4.1% from 2024 to 2034.

How Big is the Vegan Fast Food Market?

The vegan fast food market size is expected to be worth USD 18,943.20 million in 2024.

How will the Vegan Fast Food Demand Progress in China?

The CAGR of the market in China from 2024 to 2034 is estimated to be 3.0%.

How Big Will the Vegan Fast Food Market Be by 2034?

The market is estimated to get as big as USD 28,198.30 million by 2034.

What are the Segments of the Vegan Fast Food Market?

The market can be divided into the following segments: product type, end user, and region.