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Vegan Fast Food Market Size, Share Global Analysis Report, 2023 – 2030
Vegan Fast Food Market Size, Share, Growth Analysis Report By End-User (Dine-In And Takeaway), By Product Type (Plant-Based Dairy Products, Plant-Based Meat Products, Pizza/Pasta, And Bread/Sandwiches), By Nature (Standalone And Franchised), And By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030
Industry Insights
[215+ Pages Report] According to Facts and Factors, the global vegan fast food market size was valued at USD 17.05 billion in 2022 and is predicted to surpass USD 23.07 billion by the end of 2030. The vegan fast food industry is expected to grow by a CAGR of 3.85%.
Market Overview
Vegan fast food refers to food items prepared from plant ingredients without any animal-derived ingredients. Vegan fast food products have similar taste, texture, and mouthfeel as animal-derived food items. Also, these are perceived as healthier alternatives to animal-derived food, which are low in cholesterol and saturated fats. These are ideal for people with dietary restrictions and lactose intolerance.
Key Insights
- As per the analysis shared by our research analyst, the global vegan fast food market size is estimated to grow annually at a CAGR of around 3.85% over the forecast period (2023-2030).
- In terms of revenue, the global vegan fast food market size was valued at around USD 17.05 billion in 2022 and is projected to reach USD 23.07 billion by 2030.
- Changing consumer preferences is driving the growth of the global vegan fast food market.
- Based on the end user, the takeaway segment is growing at a high rate and is projected to dominate the global market.
- Based on the product type, the plant-based dairy products alternatives segment is projected to swipe the largest market share.
- Based on the nature, the franchised segment is the fastest-growing segment in the global market.
- Based on region, North America is expected to dominate the global market during the forecast period.
Growth Drivers
- Changing consumer preferences is likely to drive the growth of the global market.
Increasing awareness among people regarding health, environmental, and animal welfare concerns is a major factor driving the adoption of vegan diets globally. People are looking for ethical, more sustainable, and healthier alternatives to traditional animal-based food.
The growing awareness among people regarding the negative impact of animal agriculture, including water usage, greenhouse emissions, and deforestation, has significantly transitioned the preference of people towards vegan diets, which is likely to fuel the growth of the global vegan fast food market.
For instance, Treeline Cheese came up with a product portfolio of plant-based cream cheese in March 2020. The product is available in three flavors, namely, strawberry, plain, and chive & onion.
Restraints
- Low nutritional value is expected to hamper the growth of the global market.
There are certain cultural nuances that see plant-based diets as a low nutritional food. Such wrong perceptions of the people are expected to slow down the growth trajectory of the vegan fast food industry. Also, the lack of high-quality protein and less availability of distinct flavors in their animal counterparts are restricting people from adopting vegan fast food options.
Opportunities
- Wide adoption of innovative packaging for vegan fast food will promote growth opportunities in the global market.
As people are becoming more ecologically concerned, there is a high demand for sustainable packaging materials in the market. Therefore, manufacturers are coming up with more significant and attractive packaging to attract a broad customer base, which is expected to foster several growth opportunities for the vegan fast food industry in the coming years.
Transparent product labeling is another major parameter companies are competing for swiping a larger market share. For instance, Target launched its new plant-based brand, Good & Gather, in May 2021. The company is planning to come up with a wide range of plant-based products under this brand name.
Challenges
- High cost of vegan food products is a big challenge in the global market.
Several manufacturers are coming up with a number of vegan fast food options in the market, but the prices associated with these food items are quite high, which is likely to deter the price-sensitive customers in the vegan fast food market. Moreover, on the other hand, their animal counterparts are priced quite cheaper, which makes the vegan products less appealing to customers.
Segmentation Analysis
The global vegan fast food market can be segmented into end user, product type, nature, and region.
By end user, the market can be segmented into dine-in and takeaway. The takeaway segment is expected to grow expediently in the forthcoming years. One of the major factors driving the growth of the segment is the growing preference of people who opt for takeaway delivery services rather than dining in. The reason behind such a societal landscape is the fast-changing consumer lifestyle, the high influence of online food delivery platforms, and the growing demand for convenience.
Moreover, the fast-growing popularity of vegan fast foods, along with the easy availability of these items at nearby places, is further contributing heavily towards the growth of the segment. Also, the fast and hectic lifestyle of people is posing a huge demand in the market.
Nowadays, takeaway orders are highly customizable as people can specify their preferences or the restrictions on the food items while placing their order through online portals, which in turn is also expected to positively impact the growth trajectory of the segment.
By product type, the market can be segmented into plant-based dairy products, plant-based meat products, pizza/pasta, and bread/sandwiches. The plant-based dairy products alternatives segment accounts for the largest share of the global vegan fast food market. The segment is highly popular among consumers, and therefore, it is in high demand. Consumers are transitioning from animal-based dairy products to plant-based dairy products largely because of ethical, environmental, and health reasons.
However, the menu of plant-based dairy products is more diverse and versatile. People can opt for their favorite dish from a wide range of menu items, making them convenient and easy-to-go products for consumers. These products include vegan yogurt, cashew cheese, soil, milk, almond milk, and other dairy alternatives, which are used in vegan fast food dishes, nugget sausages, and more.
Also, the ongoing innovations and technological advancements in the plant-based dairy industry are likely to further contribute heavily towards the growth of the segment. Manufacturers are trying to closely mimic the taste and texture of traditional animal-based items to capture a large customer base by satisfying their preferences and mouth feel.
By nature, the vegan fast food industry can be segmented into standalone and franchised. The franchised segment is likely to swipe the largest share of the global market. The franchised fast food centers are part of a big food chain brand that permits the individuals to operate their outlet under the company's name and as per their business model. Franchising helps in expanding the company's business to multiple locations.
However, this franchise's fast food segment is gaining more popularity in the global world because of its scalability. It offers rapid expansion capabilities in the fast food industry, which is a chief factor in boosting its presence. Moreover, franchising promotes standardized processes, menus, and quality control processes, which offer consistent customer experience to all locations.
Therefore, people look forward to these franchised outlets, which in turn is likely to boost the growth opportunities in this segment. Additionally, franchisees pose a lower business risk as working under a recognized or reputed brand with set standards and processes without the need to start from scratch.
Report Scope
Report Attribute |
Details |
Market Size in 2022 |
USD 17.05 Billion |
Projected Market Size in 2030 |
USD 23.07 Billion |
CAGR Growth Rate |
3.85% CAGR |
Base Year |
2022 |
Forecast Years |
2023-2030 |
Key Market Players |
Veggie Galaxy, Plant Power Fast Food, By CHLOE, Veggie Grill, Pret a Manger, Dunkin' (formerly Dunkin' Donuts), Häagen-Dazs, Greggs, A&W Canada, White Castle, Carl's Jr, Shake Shack, Chipotle Mexican Grill, Pizza Hut, Domino's Pizza, Taco Bell, Subway, KFC, Burger King, McDonald's, and Others. |
Key Segment |
By End User, By Product Type, By Nature, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
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Regional Analysis
- North America to dominate the global market.
North America accounts for the largest share of the global vegan fast food market because the region is witnessing an upsurge in the popularity of vegan products. People are transitioning towards more sustainable, healthier, and ethical food options like a vegan diet, which is expected to contribute heavily towards the growth of the regional market.
Moreover, the presence of established fast food chains in the region is further likely to foster developments in the region. These establishments are more willing to incorporate plant-based fast food options in their menu. These items include dairy-free milkshakes, plant-based chicken sandwiches, vegan burgers, and several others to capture a large consumer base in the market.
Also, the vegan fast food market in the region is quite diversified, with a broad range of options like gluten-free menu plants, dairy alternatives, locally and organically sourced ingredients, and several others. Beyond these establishments, several standalone and independent fast food restaurants are coming up with vegan fast food options, which are further expected to positively impact the growth trajectory of the regional market.
Asia Pacific is also likely to grow steadily during the forecast period. The region is quite diverse in terms of dietary preferences, cuisines, and cultural nuances. The region already has a number of plant-based dishes, which makes it less difficult for manufacturers to penetrate their vegan fast foods in the region. This landscape is expected to boost the growth of the regional market in the forthcoming years.
Moreover, the global and local fast food chains are expanding their business in the region because of the high potential of the market and the increasing adoption of vegan diets among people. For instance, Upfield launched Violife, a vegan cheese brand, in July 2021 in the Middle East. The brand focuses on coming up with dairy alternatives and allergen-free cheese in two flavors, namely, mozzarella and cheddar.
Competitive Analysis
The key players in the global vegan fast food market include:
- Veggie Galaxy
- Plant Power Fast Food
- By CHLOE
- Veggie Grill
- Pret a Manger
- Dunkin' (formerly Dunkin' Donuts)
- Häagen-Dazs
- Greggs
- A&W Canada
- White Castle
- Carl's Jr
- Shake Shack
- Chipotle Mexican Grill
- Pizza Hut
- Domino's Pizza
- Taco Bell
- Subway
- KFC
- Burger King
- McDonald's
For instance, Daiya Foods successfully acquired fermentation technology with massive investment in North America in March 2023.
The global vegan fast food market is segmented as follows:
By End User Segment Analysis
- Dine-In
- Takeaway
By Product Type Segment Analysis
- Plant-Based Dairy Products
- Plant-Based Meat Products
- Pizza/Pasta
- Bread/Sandwiches
By Nature Segment Analysis
- Standalone
- Franchised
By Regional Segment Analysis
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Content
Industry Major Market Players
- Veggie Galaxy
- Plant Power Fast Food
- By CHLOE
- Veggie Grill
- Pret a Manger
- Dunkin' (formerly Dunkin' Donuts)
- Häagen-Dazs
- Greggs
- A&W Canada
- White Castle
- Carl's Jr
- Shake Shack
- Chipotle Mexican Grill
- Pizza Hut
- Domino's Pizza
- Taco Bell
- Subway
- KFC
- Burger King
- McDonald's
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