According to a new Technavio report, the vegan fast food market is expected to roughly double in size to $18.86 billion by 2026.
The global vegan fast foods market size is estimated to grow by USD 18.86 billion from 2021 to 2026 at a compound annual growth rate (CAGR) of 11.6% according to Technavio. “The growing number of vegan consumers is notably driving the vegan fast foods market growth”, notes the report. “However, factors such as the lack of product standardization guidelines may impede market growth.”
Below are the major trends in the vegan fast food market, according to the report:
- 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.
The key vendors of vegan fast food, according to the report:
- 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
More information on this report can be found by clicking here.
