(MENAFN- GlobeNewsWire - Nasdaq) The Global Vegan Fast Foods market Size was Valued at USD 24.11 Billion in 2023 and the Worldwide Vegan Fast Foods Market Size is Expected to Reach USD 70.42 Billion by 2033, according to a research report published by Spherical Insights & Consulting Companies covered: McDonald's Corporation, KFC Corporation, Subway, Taco Bell, Burger King Corporation, Domino's Pizza, Inc., Beyond Meat, Impossible Foods, Amy's Kitchen, Veggie Grill, By CHLOE, plant Power Fast Food, Pret a Manger, Next Level Burger, Häagen-Dazs., and other key companies.
New York, United States , Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Global Vegan Fast Foods Market Size is to Grow from USD 24.11 Billion in 2023 to USD 70.42 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.31% during the projected period.
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Vegan fast food refers to quick-service food options that are entirely plant-based, which means they contain no animal products such as meat, dairy, eggs, or honey. This type of food addresses the growing demand for healthier, environmentally friendly, and cruelty-free meal options. Fast food has long been associated with unhealthy and animal-based products, but the rise of veganism and increased awareness of its benefits has led to the development of vegan substitutes. Vegan fast food includes plant-based burgers, dairy-free cheese, vegan nuggets, and fries, all of which are prepared in a convenient and affordable manner, much like traditional fast food. Many popular fast-food restaurants are expanding their menus to include vegan options, acknowledging a shift in consumer tastes. As more people adopt plant-based diets for health, ethical, or environmental reasons, the vegan fast food industry is rapidly expanding, allowing everyone to enjoy tasty, convenient meals without compromising their values. As more people become aware of the numerous health benefits of a plant-based diet, there is an increasing demand for vegan fast food options. A plant-based diet has been shown to lower the risk of chronic diseases like heart disease, diabetes, and certain cancers, prompting many people to reconsider their eating habits. This change is motivated by a genuine desire to live healthier lives and improve long-term health, rather than simply following a trend. This growing awareness and desire for better health is encouraging more people to research and incorporate vegan options into their daily diet. However, the price difference of vegan fast foods might frighten budget-conscious consumers and slow market adoption.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Vegan Fast Foods Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Vegan Burgers, Vegan Pizza, Vegan Sandwiches/Wraps, Vegan Salads, Vegan Desserts), By Distribution Channel (Restaurants and Cafes, Fast Food Chains, Food Trucks, and Online Platforms), By Consumer Preferences (Health-Conscious Consumers, Ethical Consumers, Allergy-Friendly Options Seekers, and Convenience Seekers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The vegan burgers segment dominates the market with the highest market share of the global vegan fast foods market during the projected period.
Based on the product type, the vegan fast foods market is divided into vegan burgers, vegan pizza, vegan sandwiches/wraps, vegan salads, vegan desserts. Among these, t he vegan burgers segment dominates the market with the highest market share of the vegan fast foods market during the projected period. Vegan burgers provide a tasty and familiar alternative to traditional meat burgers. Their flavor and texture have greatly improved, making them appealing to both vegans and non-vegans seeking healthier or more environmentally friendly alternatives. Additionally, the growing popularity of plant-based diets and the availability of vegan burgers in major fast food chains have fueled their demand, cementing their position as the top choice in the vegan fast food market.
The online platforms segment is anticipated to grow at the fastest CAGR during the projected period.
Based on the distribution channel, the global vegan fast food market is categorized into restaurants and cafes, fast food chains, food trucks, and online platforms. Among these, t he online platforms segment is anticipated to grow at the fastest CAGR during the projected period. Customers benefit from unparalleled convenience and accessibility through online platforms. People can easily order meals from their favorite restaurants with a few clicks and have them delivered right to their door. This ease of use, combined with the growing popularity of food delivery apps and the increasing demand for quick, hassle-free dining options, has resulted in an increase in the use of online meal delivery platforms, which are now a rapidly expanding segment of the food service market.
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North America is expected to hold the largest share of the global vegan fast foods market over the forecast period .
North America is expected to hold the largest share of the global vegan fast foods market over the forecast period. The primary reason is widespread consumer awareness and acceptance of vegan diets, especially in the United States and Canada. The presence of major fast-food chains that have successfully added vegan options to their menus has helped the market grow.
Europe is predicted to grow at the fastest pace in the global vegan fast foods market during the projected period. Countries like the United Kingdom, Germany, and France dominate the market, the region's strong market presence can be attributed to consumers' high levels of environmental and ethical awareness, which is driving an increase in plant-based diet consumption. European consumers are very health-conscious, which raises the demand for nutritious and environmentally friendly foods. The introduction of vegan fast food options by both international and local fast food chains has fueled market expansion.
Major vendors in the global vegan fast foods market are McDonald's Corporation, KFC Corporation, Subway, Taco Bell, Burger King Corporation, Domino's Pizza, Inc., Beyond Meat, Impossible Foods, Amy's Kitchen, Veggie Grill, By CHLOE, Plant Power Fast Food, Pret a Manger, Next Level Burger, Häagen-Dazs., and Others.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key Vendors in the Global Vegan Fast Foods Market McDonald's Corporation, KFC Corporation, Subway, Taco Bell, Burger King Corporation, Domino's Pizza, Inc., Beyond Meat, Impossible Foods, Amy's Kitchen, Veggie Grill, By CHLOE, Plant Power Fast Food, Pret a Manger, Next Level Burger, Häagen-Dazs., and other key companies.
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Recent Developments
In June 2024, McDonald's McPlant burger was expanded in Europe, but the US trial run was unsuccessful, according to the company, which stated that there was little demand for healthier options at McDonald's US, with salads being removed due to low sales.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global vegan fast foods market based on the below-mentioned segments:
Global Vegan Fast Foods Market, By Product Type
Vegan Burgers Vegan Pizza Vegan Sandwiches/Wraps Vegan Salads Vegan Desserts
Global Vegan Fast Foods Market, By Distribution Channel
Restaurants and Cafes Fast Food Chains Food Trucks Online Platforms
Global Vegan Fast Foods Market, By Consumer Preferences
Health-Conscious Consumers Ethical Consumers Allergy-Friendly Options Seekers Convenience Seekers
Global Vegan Fast Foods Market, By Regional Analysis
North America Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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