Global Vegan Fast Food Market Size - Industry Trends & Outlook Report 2026
Global Vegan Fast Food Market is estimated to be USD by 2026 from USD in 2019, at a CAGR of from 2020 to 2026.
The surge in mindfulness about the health problems and creature comfort and lifestyle changes are the variables that help develop the worldwide vegan fast-food market. With the varying perspective of individuals toward creatures and the climate, individuals move toward vegetarian food items. The number of quick-service restaurants through various countries has augmented meaningfully, as they have a simple, attractive ambiance, which appeals to modern consumers. The rise in the number of fast-food outlets and the extension to various regions will lead to the fast-food market's additional growth during the prediction period. Vegan fast food is a food that excepts meat items and can be prepared and served in very little time. Vegan fast food comprises vegetable and vegan products, which contain pasta, pizzas, pastries, Chinese food, and other snacks. Changes in flavor and likings influence the request for vegan fast food.
Source: BlueWeave Consulting
Global Vegan Fast Food Market: Market Outlook and Trends
Vegan fast food is a type of food that discards meat things and can be organized and served in nearly no time. Vegan low-cost food contains vegetable and vegetarian items, incorporating pasta, pizzas, baked goods, Chinese food, and different bites. Variations in taste and inclinations affect the interest in vegan fast food.
Global Vegan Fast Food Market
Increasing awareness about the benefits of a Vegan Diet
Rising consciousness about the welfares of following a vegan diet is a crucial feature expected to fuel the global vegan fast foods market's development. Additional factors, such as growing consciousness about animal health and animal cruelty in the food industry, have been inspiring people to change from animal-based to plant-based food products and are accountable for the market's growth. The increasing occurrence of obesity due to the ingesting of fast food might hamper market development.
Changing the taste preferences of consumers
Shifting consumer taste preferences is identified as one of the main factors driving the fast-food market growth. Consumers' taste likings are subjective by reasons such as cultural and ethnic diversity. Most of the sales generated from fast-food channels are due to the shortage of time-related to urban routine. Fast-food operators are posing a variety of new products on their menus. Hence, the alteration in consumer taste favorites is making an optimistic influence on the development of the market. As consumers through countries are viewing interest in experimenting with fast food, vendors are concentrating on increasing their business into various terrestrial areas.
Several fast foods are rich in calories as they include substantial amounts of mayonnaise, cheese, oil, salt, and fried meat, thus comprising high-fat content (Schlosser). Extreme ingesting of fatty constituents results in an unstable diet. Proteins and vitamins are generally optional for daily consumption rather than large amounts of carbohydrates or fat. Due to the fat content, fast foods are concerned with poor health and severe numerous health issues such as obesity and circulatory diseases. Additionally, strong empirical indication displays that fast foods are also detrimental to hungriness, breathing system function, and central nervous system function (Schlosser) which is a big challenge in the growth of the market.
Impact of COVID-19 in industry
The Food industry is among the lowest hit due to the ongoing Covid-19 epidemic. While the lockdown ordered restaurants to close, it has had a strong influence on online food deliveries, too. Quick-service restaurants (QSRs) such as McDonald's, Burger King, and KFC have found few takers, as customers are wary of eating 'outside' food. With consumers cutting down on their optional spending, fearing an economic recession, restaurants may not see the condition improve. Nielsen's recent online consumer survey discovered that as many as 64% of defendants intend to spend less on restaurants. However, restaurants' valid communication on hygiene and safety methods will be imperative in taking customers back.
Global Vegan Fast Food Market: Segmentation
Based on Product Type, Global Vegan Fast Food Market is segmented into Dairy Alternative, Meat Substitute, and others. Dairy alternatives were the primary product section in 2018 and accounted for more than 50% of the global income. Around 65% of the worldwide population is lactose intolerance, which is an essential factor boosting the request for dairy alternative food items. Accessibility of several products, such as cheese, yogurt, ice cream, and snacks, has also attracted non-vegetarians and widened the consumer base of this section.
Based on Distribution Channels, the global vegan fast food market is segmented into offline and online. The offline segment was the major distribution channel and is probable to maintain its supremacy over the forecast period. This segment includes convenience stores, specialty stores, hypermarkets, and supermarkets. The rising number of supermarkets and hypermarkets have increased complete product sales. Furthermore, consumers prefer shopping from brick-and-mortar grocers due to easy access and availability. However, the online channel is estimated to see the highest CAGR from 2019 to 2026 due to the rising penetration of the internet because of the wide usage of smartphones and other such devices.
Geographically, the global vegan fast food market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Global Vegan Fast Food Market: Regional Insights
Asia Pacific vegan fast food market demand is predicted to witness the fastest growth during the forecasted period led by China, India, and Japan. Growing demand for vegan fast-food alternatives such as chips, muffins, chocolates, biscuits, bakery items, soymilk ice cream & shakes may boost market share. The Asia Pacific held the major share of vegan customers worldwide, with over 8.5% of people subsequent vegan diets in 2016 owing to increasing consumer consciences on the side effects of non-vegan products on human health. Altering consumer opinions towards healthy food habits and growing awareness on musculoskeletal health due to an increase in diseases such as osteosarcoma and osteoporosis may trigger market share.
Source: BlueWeave Consulting
The leading players in the Global Vegan Fast Food Market include Amy's Kitchen, Danone S.A.
The Archer Daniels Midland Company, Daiya Foods Inc. Tofutti Brands Inc. Ripple Foods Inc., Earth’s Own Food Company Inc., and other prominent players.
• GOSHEN, NY – JUNE 21, 2019 – Family owned organic food company, Amy’s Kitchen, broke ground on a new production facility and kitchen in Goshen, New York. Senator Chuck Schumer, Lieutenant Governor of New York Kathy Hochul and community leaders of Goshen, Middletown, and Orange County, joined founders, Andy, and Rachel Berliner, along with President, Xavier Unkovic.
• October 6th, 2020 - Danone has finalized the sale of its 6.61% stake in Yakult Honsha Co. Ltd. (“Yakult”)
Scope of the Report
Historical data – 2016-2018
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Billion
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, UAE, South Africa, Saudi Arabia.
By Product Type, By Distribution Channel, By Region
The leading players considered for market analysis are Amy's Kitchen, Danone S.A.
The Archer Daniels Midland Company, Daiya Foods Inc. Tofutti Brands Inc. Ripple Foods Inc., Earth’s Own Food Company Inc. many others.
· By Product Type
ü Dairy Alternative
ü Meat Substitute
· By Distribution Channels
· By Region
ü North America
ü Asia Pacific
ü South America
ü Middle East & Africa