The vegan fast-food market is anticipated to grow by $18.86 billion from 2021 to 2026 at a compound annual growth rate of 11.6%, according to a press release from Technavio.
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 Jan. 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.