Vegan Fast Food Market Size to Grow by USD 18.86 Bn, Growing Number of Vegan Consumers to Drive Growth - Technavio

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Oct 24, 2022, 09:00 ET

NEW YORK, Oct. 24, 2022 /PRNewswire/ -- The "Vegan Fast Food Market by End-user and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The market size is anticipated to grow by USD 18.86 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 11.6% during the forecast period.

Get a comprehensive report summary that describes the market size and forecast along with research methodology. The FREE sample report is available in PDF format

Technavio has announced its latest market research report titled Global Vegan Fast Foods Market 2022-2026

Market Dynamics

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%. Foodservice 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.

Company Profiles

The vegan fast food market report includes information on the product launches, sustainability, and prospects of leading vendors, including 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., Wakao Foods. The key offerings of some of these vendors are listed below:

Alpro UK Ltd. - The company offers vegan fast food such as organic bean and cheese burritos, organic black bean veggie burgers, and roasted vegetable pizzas.

Amys Kitchen Inc. - The company offers various food products including vegan food products, gluten-free foods, soups, burritos and wraps, pizzas, and other products.

Archer Daniels Midland Co.- The company offers vegan fast food such as pea protein, wheat protein, and soy protein.

Beyond Meat Inc.- The company offers vegan fast food such as plant-based Beyond burgers, Beyond breakfast sausage, and Beyond plant-based meatballs.

Blue Tribe - The company offers vegan fast food such as potato wedges, vegan cheese wedges, vegan hot dog bites, and cauliflower wings.

Technavio's reports provide key strategic initiatives used by vendors, along with key news and the latest developments. View our FREE PDF Sample Report Now

Market Segmentation

By end-user, the market has been classified into take-out and dine-in. The vegan fast foods market share growth by the take-out segment will be significant during the forecast period. The segment's expansion can be ascribed to the increasing number of supermarkets and hypermarkets across the world. The demand for take-out is increasing due to consumers' preference for shopping at traditional grocery stores since they are more accessible and products are readily available. All these factors are fostering the growth of the market, fueling the demand for the take-out segment during the forecast period.

By geography, the market has been classified into North America, Europe, APAC, South America, and the Middle East and Africa. 32% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the vegan fast foods market in North America. Rising disposable incomes will facilitate the vegan fast foods market growth in North America over the forecast period.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

Competitive Analysis

The competitive scenario provided in the vegan fast food market report evaluates, analyzes, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share.

Related Reports

Vegan Food Market by Type, Application, and Geography – Forecast and Analysis 2022-2026: The vegan food market share is expected to increase to USD 21.46 billion from 2021 to 2026. The growing number of vegan consumers is notably driving the vegan food market growth, although factors such as lack of product standardization guidelines may impede the market growth.

Vegan Supplements Market by Distribution Channel and Geography – Forecast and Analysis 2022-2026: The vegan supplements market share is expected to increase to USD 3.43 billion from 2021 to 2026. The expanding global vegan population base is notably driving the vegan supplements market growth, although factors such as the availability of counterfeit dietary supplements may impede the market growth.

Vegan Fast Food Feed Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 11.6%
Market growth 2022-2026	USD 18.86 billion
Market structure	Fragmented
YoY growth (%)	11.2
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 32%
Key consumer countries	US, Canada, China, Germany, and Russia
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
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 growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

1 Executive Summary

1.1 Market Overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments

Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user

Exhibit 26: Chart on Comparison by End-user
Exhibit 27: Data Table on Comparison by End-user

5.3 Take-out - Market size and forecast 2021-2026

Exhibit 28: Chart on Take-out - Market size and forecast 2021-2026 ($ million)
Exhibit 29: Data Table on Take-out - Market size and forecast 2021-2026 ($ million)
Exhibit 30: Chart on Take-out - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on Take-out - Year-over-year growth 2021-2026 (%)

5.4 Dine-in - Market size and forecast 2021-2026

Exhibit 32: Chart on Dine in - Market size and forecast 2021-2026 ($ million)
Exhibit 33: Data Table on Dine-in - Market size and forecast 2021-2026 ($ million)
Exhibit 34: Chart on Dine in - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Dine in - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by End-user

Exhibit 36: Market opportunity by End-user ($ million)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 38: Chart on Market share by geography 2021-2026 (%)
Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 40: Chart on Geographic comparison
Exhibit 41: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.7 South America - Market size and forecast 2021-2026

Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026

Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 Germany - Market size and forecast 2021-2026

Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.11 Italy - Market size and forecast 2021-2026

Exhibit 74: Chart on Italy - Market size and forecast 2021-2026 ($ million)
Exhibit 75: Data Table on Italy - Market size and forecast 2021-2026 ($ million)
Exhibit 76: Chart on Italy - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on Italy - Year-over-year growth 2021-2026 (%)

7.12 Canada - Market size and forecast 2021-2026

Exhibit 78: Chart on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 79: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
Exhibit 80: Chart on Canada - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on Canada - Year-over-year growth 2021-2026 (%)

7.13 India - Market size and forecast 2021-2026

Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)

7.14 Market opportunity by geography

Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 89: Overview on factors of disruption

9.4 Industry risks

Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 91: Vendors covered

10.2 Market positioning of vendors

Exhibit 92: Matrix on vendor position and classification

10.3 Amys Kitchen Inc.

Exhibit 93: Amys Kitchen Inc. - Overview
Exhibit 94: Amys Kitchen Inc. - Product / Service
Exhibit 95: Amys Kitchen Inc. - Key offerings

10.4 Archer Daniels Midland Co.

Exhibit 96: Archer Daniels Midland Co. - Overview
Exhibit 97: Archer Daniels Midland Co. - Business segments
Exhibit 98: Archer Daniels Midland Co. - Key offerings
Exhibit 99: Archer Daniels Midland Co. - Segment focus

10.5 Beyond Meat Inc.

Exhibit 100: Beyond Meat Inc. - Overview
Exhibit 101: Beyond Meat Inc. - Product / Service
Exhibit 102: Beyond Meat Inc. - Key offerings

10.6 Dominos Pizza Inc.

Exhibit 103: Dominos Pizza Inc. - Overview
Exhibit 104: Dominos Pizza Inc. - Business segments
Exhibit 105: Dominos Pizza Inc. - Key news
Exhibit 106: Dominos Pizza Inc. - Key offerings
Exhibit 107: Dominos Pizza Inc. - Segment focus

10.7 McDonald Corp.

Exhibit 108: McDonald Corp. - Overview
Exhibit 109: McDonald Corp. - Business segments
Exhibit 110: McDonald Corp. - Key news
Exhibit 111: McDonald Corp. - Key offerings
Exhibit 112: McDonald Corp. - Segment focus

10.8 Nestle SA

Exhibit 113: Nestle SA - Overview
Exhibit 114: Nestle SA - Business segments
Exhibit 115: Nestle SA - Key news
Exhibit 116: Nestle SA - Key offerings
Exhibit 117: Nestle SA - Segment focus

10.9 Otsuka Holdings Co. Ltd.

Exhibit 118: Otsuka Holdings Co. Ltd. - Overview
Exhibit 119: Otsuka Holdings Co. Ltd. - Business segments
Exhibit 120: Otsuka Holdings Co. Ltd. - Key offerings
Exhibit 121: Otsuka Holdings Co. Ltd. - Segment focus

10.10 Papa Johns International Inc.

Exhibit 122: Papa Johns International Inc. - Overview
Exhibit 123: Papa Johns International Inc. - Business segments
Exhibit 124: Papa Johns International Inc. - Key offerings
Exhibit 125: Papa Johns International Inc. - Segment focus

10.11 The Wendys Co.

Exhibit 126: The Wendys Co. - Overview
Exhibit 127: The Wendys Co. - Business segments
Exhibit 128: The Wendys Co. - Key offerings
Exhibit 129: The Wendys Co. - Segment focus

10.12 VBites Foods Ltd.

Exhibit 130: VBites Foods Ltd. - Overview
Exhibit 131: VBites Foods Ltd. - Product / Service
Exhibit 132: VBites Foods Ltd. - Key offerings

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 133: Inclusions checklist
Exhibit 134: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 135: Currency conversion rates for US$

11.4 Research methodology

Exhibit 136: Research methodology
Exhibit 137: Validation techniques employed for market sizing
Exhibit 138: Information sources

11.5 List of abbreviations

Exhibit 139: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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