Starbucks eliminated its charge for non-dairy milk, KFC and McDonald’s rolled out vegan burgers nationwide, and Burger King introduced vegan chicken nuggets in the first week of 2022. Despite some of the new vegan products launched by big chains during Veganuary, it seems that they are finally taking vegan food seriously. They race to get a piece of a market that could be worth more than $160 billion globally within ten years. The US fast-food industry is also offering more vegan dishes, albeit at a slower pace. Other chains such as KFC, Burger King, Carl’s Jr., and McDonald’s are scrambling to partner with fake-meat brands such as Impossible Foods and Beyond Meat.
Fast-food giants stand to gain a great deal from these products. It was reported by Bloomberg Intelligence that the plant-based foods market could reach $162 billion by 2030, or 7.7% of the global protein market. Vegans still make up a small part of the population, but this is not a problem for the sector. The trend isn’t just driven by vegans. By reducing meat, fish, and dairy consumption, non-vegans are helping to drive the plant-based boom.
Vegan products have been a huge success for fast-food chains. After launching its vegan burger in the UK, KFC said it sold at six times the average rate for new products. The McPlant is the top-selling hot menu item at Peet’s Coffee, selling three times more than expected, according to McDonald’s and Eat Just.
New plant-based products are emerging as a result of technological advancements, and the growing number of vegans and flexitarians is creating a growing market for plant-sourced meat alternatives. The low prices at fast-food chains have also helped to encourage customers to switch from their meaty options: McDonald’s UK offers both plant-based McPlant and Quarter Pounder with Cheese at the same price, and Subway offers both roast chicken and plant-based chicken sandwiches at the same price.
Fast-food chains now offer at least one vegan dish in the UK. Some chains are leading the charge by offering something most vegans haven’t seen in restaurants: choice. Subway, for example, has four vegan sandwiches on its menu now, plus two limited-release subs it launched for Veganuary. In addition, because it covers the basics, it can get creative, like with its plant-based alternative to chicken tikka. In the UK, Starbucks is offering a plant-based tuna sandwich.
Vegetarians have been left with limp salads and half-hearted bean burgers for years. Essentially, they are creating a vicious cycle. Since demand for vegan food is increasing, restaurants are offering more vegan options at lower prices, making them more attractive to potential customers. Expect to see more and more plant-based dishes on restaurant menus in the future. The prices and tastes will improve as well.
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