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The vegan fast foods market size is forecast to increase by USD 18.91 million, at a CAGR of 11.64% between 2024 and 2028. The vegan consumer base is expanding rapidly, driven by increasing awareness of the health benefits associated with vegan diets. This trend is further propelled by continuous new product launches catering to vegan preferences. These products not only meet dietary preferences but also emphasize the nutritional advantages of plant-based eating. As more individuals opt for vegan lifestyles, the market responds with innovative offerings that promote overall health and wellness. New product introductions play a pivotal role in satisfying the diverse needs of vegan consumers, highlighting the versatility and appeal of vegan foods in modern diets. This growth reflects a broader shift towards sustainable and health-conscious choices, positioning veganism as a significant dietary trend in the contemporary food landscape.
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Health-conscious individuals are increasingly opting for burgers, wraps, pizzas, and other vegan options that not only cater to their nutritional content needs but also offer substantial protein content without relying on animal-derived products like dairy and eggs. This shift is embraced by flexitarian individuals seeking plant-based alternatives in sandwiches, salads, desserts, and beverages to address both health consciousness and ethical concerns surrounding meat consumption. This trend aligns with global food trends promoted by celebrities and social media influencers in urban centers, emphasizing the role of plant-based diets in reducing the risk of chronic diseases associated with saturated fats. The evolution of vegan options also caters to diverse tastes, including the Indian palate, reflecting a broader cultural acceptance of sustainable and health-oriented dietary choices.
Key Vegan Fast Foods Market Driver
The growing number of vegan consumers is one of the key drivers supporting the vegan fast foods market growth. People are adopting the vegan lifestyle, particularly for its health benefits and ethical reasons. Over the last decade, the number of people adopting veganism and opting for vegan diets has increased by about 300%. Food service outlets are also adding vegan recipes to their menus to attract vegan consumers. Dairy-free cheese, vegetarian burgers, and vegetarian beverages are some food offerings available at various eateries. For instance, as of January 2021, the total number of vegans globally was nearly 79 million, which was 3% higher than the total vegan population worldwide in 2020. Such factors will drive the growth of the market during the forecast period.
Key Vegan Fast Foods Market Trend
The rise of private label brands is one of the key vegan fast foods market trends contributing to the market growth. Consumer demand for private-label fast foods has increased as retailers have introduced delicious vegan food offerings with high-quality ingredients and complex flavor profiles, such as mock meat. The sales of private-label brands will increase as retailers roll out more vegan product formulations. Retailers are expanding their vegan product lines by introducing RTC vegan delicacies and other plant-based milk products to cater to the demands of consumers. Such initiatives from retailers will increase the sales of private-label vegan fast food products during the forecast period.
Significant Vegan Fast Foods Market Challenge
The lack of product standardization guidelines is one of the factors hampering the vegan fast foods market growth. The vegan food industry lacks internationally uniform regulatory policies. This lacuna results in inappropriate labeling, handling, and manufacturing processes for products, putting into doubt the claims of probiotic drinks being beneficial for health. Global players in the market face a considerable challenge because it creates confusion among consumers. Countries have different legislation and regulations for the packaging process for vegan fast food. Such rules are generally introduced keeping in mind the safety and effectiveness of the products, but the inconsistency of these regulations stands as a formidable challenge for the products' prospects in the market. Such challenges may hamper the market growth during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alpro UK Ltd.- The company offers vegan fast food varieties such as organic bean and cheese burritos, organic black bean veggie burgers, and roasted vegetable pizza.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The take-out segment is estimated to witness significant growth during the forecast period. In 2023, take-out was the largest and fastest-growing end-user segment of the global vegan fast foods market. The increasing trend of snacking at home, backed by the convenience of ordering through online grocery and food delivery apps, is driving the demand for vegan fast foods across the globe. Furthermore, alongside online, the segment's expansion can be ascribed to the increasing number of supermarkets and hypermarkets throughout the globe. The demand for this segment is increased by consumers' preference for shopping at traditional grocery stores since they are more accessible and readily available.
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The take-out segment accounted for USD 14.12 billion in 2018 and showed a gradual increase during the forecast period. All these factors are fostering the growth of the global vegan fast foods market, fueling the demand for the take-out segment during the forecast period. Packaging innovations also help in flourishing the take-out segment of the global vegan fast foods market. Convenient packaging allows consumers to carry and store food items easily, which can fuel the demand for ready-to-cook(RTC) vegan dishes, thus helping the segment of the market in focus to grow during the forecast period. For instance, In September 2022, Blue Tribe, an Indian manufacturer of plant-based meat products, introduced the brand-new ready-to-cook (RTC) plant-based Chicken Seekh Kebab to the Indian market with the intention of capturing and influencing the rapidly evolving consumer preference for 100% plant-based mock meat products. Such product innovations are leading to the stipulated growth of the take-out segment, which, in turn, will drive the growth of the global vegan fast foods market during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The vegan fast foods market in North America, aided by the growing demand for vegan fast food for health issues and rising disposable incomes in the region, are expected to drive the growth of the regional market during the forecast period. The US and Canada are the leading countries producing vegan fast food products in North America. The expanding vegan population base due to the increasing awareness of the benefits of following a vegan diet is driving the demand for consuming vegan fast foods in these countries. In addition, the growing adoption of the vegan lifestyle among the millennial population, coupled with rapid urbanization, is also fueling the growth of the vegan fast foods market in North America during the forecast period. Therefore, vendors in the vegan fast foods market in North America are strengthening their foothold by introducing new products in outlets across North America. Such factors will drive the growth of the vegan fast foods market in the region during the forecast period.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Packaged Vegan Foods Market: Packaged Vegan Foods Market by Distribution Channel, Product, and Geography - Forecast and Analysis
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The vegan flavor market and vegan pasta market are expanding rapidly alongside the growing vegan population, driven by increased demand for vegan flavors and plant-based food options. This trend is supported by a shift towards plant-based diets among health-conscious customers seeking nutritional benefits and ethical considerations. Fast food chains and food tech startups are innovating with vegan dairy products and vegan meat alternatives to cater to flexitarian and vegetarian diet concepts. Emphasis on recyclable packaging materials and sustainable choices reflects environmental awareness and consumer preferences for eco-friendly practices from local to global brands like Jamba Juice.
Moreover, concerns about animal cruelty and the health implications of animal-derived ingredients are driving the popularity of tofu, tempeh, seitan, and other legumes and vegetables as alternative dairy and meat sources. Innovations in plant-based proteins and alternative dairy products such as vegan creamers, vegan cheeses, and ice cream are reshaping menus at restaurants, cafes, and food trucks, as well as on online platforms and specialty stores. This culinary innovation aligns with evolving consumer preferences for taste, texture, and sustainability across diverse channels of distribution.
Market Scope |
|
Report Coverage |
Details |
Page number |
139 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.64% |
Market growth 2024-2028 |
USD 18.91 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
10.12 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 33% |
Key countries |
US, China, Germany, Italy, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alpro UK Ltd., Amys Kitchen Inc., Archer Daniels Midland Co., Beyond Meat Inc., Blue Tribe, Danone SA, Dominos Pizza Inc., Good Dot Enterprises Pvt. Ltd., Goshen Foods, Israel Chemicals Ltd., McDonald Corp., Nestle SA, Otsuka Holdings Co. Ltd., Papa Johns International Inc., Plamil Foods Ltd., The Kraft Heinz Co., The Wendys Co., Tofutti Brands Inc, VBites Foods Ltd., and Wakao Foods |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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