Is the plant-based revolution sowing the seeds for the growth of the fast food/QSR market in Africa?

Globally and locally, the plant-based food trend continues to gain momentum across various categories, especially as consumers become more health, environmentally and environmentally conscious. sustainability, in terms of the food they eat. This trend is gaining momentum in the fast food industry, which is reflected in the wide variety of new and innovative plant-based offerings introduced by global and local fast food/QSR market players, to meet to the capricious demands of millennial consumers, in particular.

Insight survey last SA Fast Food/QSR Industry Landscape Report 2022 carefully roll out the global and local fast food/QSR markets (including the impact of Covid-19), based on the most credible information and research. It examines global and local market trends, innovation and technology, drivers and challenges, to present an objective overview of the South African fast food industry environment and its future.

Globally, the fast food restaurant market is estimated to be worth approximately US$728.0 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.0%, to reach approximately 964.6 billion US dollars by 2030. As shown in the chart below, McDonald’s remains the most valuable fast food brand in 2022, by a wide margin, reaching a value of 196.5 billion US dollars. Interestingly, Subway is the only brand that decreased in value from US$14.8 billion in 2021 to US$12.6 billion in 2022.

Source: Kantar; Charts by Insight Survey

In 2021, the South African fast food industry showed resilience following the effects of the Covid-19 pandemic, reflected in a monumental increase of 27.5% between 2020 and 2021. This significant recovery (compared to declining massively in 2020, due to Covid-19) is expected to continue, with a projected CAGR of 8.6%, between 2022 and 2026, due to many factors, including popularity and the introduction of menu items plant-based fast food outlets, which meet the growing demand for these types of products among local consumers.

Specifically, according to the Uber Eats South Africa Cravings report, there was a 45% increase in the number of vegan restaurants on the Uber Eats app, as well as a 42% increase in orders for vegan fast food options. . Additionally, vegan and vegetarian fast food alternatives were the third most important concern in consumer conversations on social media about fast food in 2021, only behind packaging and hygiene issues, according to a Meltwater report. .

Additionally, according to the inaugural Plant-Based Friendly Fast-Food Franchise Ranking report, which rates plant-based offerings in South Africa’s top franchises, up to February 2022, Kauai, Spur and Panarotti were the top three. , with a score of 10.5, 8.5 and 8, respectively. This was followed by Burger King and Simply Asia, which both scored a 7.

This growing popularity of plant-based alternatives is reflected in the introduction of innovative new plant-based fast food offerings by some of the biggest players in the local market, including Burger King, Spur and Nando’s.

As an example of a market player capitalizing on these opportunities, Burger King has launched a range of new and innovative plant-based offerings. This includes Vegan Royale, Plant-Based Whopper and Vegan Nugget products, using ingredients such as soy protein, wheat protein and wheat starch, in place of traditional meat, providing a taste experience and texture “as close to reality as possible.”. The Vegan Royale and Vegan Nuggets are also V-Label approved, adding to its vegan credentials.

Additionally, Spur continued to add plant-based and vegan options to its local menu, including Nachos Mexicana and Large Cheesy Quesadillas options to its entree menu, and the introduction of Greek salads and hot vegetables. to its main menu. At the same time, Nando’s also launched its new vegan product PERinaise, which is a plant-based alternative to its traditional peri-peri sauce, without egg or gluten.

Interestingly, although not plant-based, the future of animal-based fast food alternatives may be being revolutionized by South African company Mzansi Meat. The company notably unveiled its first cultured meat burger, which is made by extracting cells from cows, which is then used to grow meat in bioreactors. Although currently relatively expensive, the company expects to reach price parity within 10 years and plans to expand to produce nuggets, sausages and steaks, given that 60% of South Africans indicated that they would be willing to try cultured meat.

The South Africa Fast Food / QSR Industry Landscape Report 2022 (182pages) provides a dynamic synthesis of industry research, examining the local and global fast food industry (including impact of Covid-19) from a unique holistic perspective, with in-depth insights across the entire value chain – market size and forecast, latest industry trends and innovations, industry drivers and challenges, Fast Food/QSR competitor analysis, latest marketing and advertising news, analysis of prices and promotions.

Some key questions the report will help you answer:

  • What are the current market dynamics of the global and South African fast food industry?
  • What are the latest global and South African fast food industry trends, innovation and technology, drivers and challenges?
  • What are the market, food type and offline/online value trends in the South Africa fast food market (2016-2021) and forecast (2022-2026) including the impact of Covid-19?
  • Who are the major players in the South Africa Fast Food Restaurant market and what is the latest marketing and advertising news for each of the competitors?
  • What is the latest company news for major South African fast food players in terms of products, new launches and marketing initiatives?
  • What are the prices and recent promotions of the main fast food competitors by category: burgers, chicken, pizza, pies and others?

Please note that the 182-page report is available for purchase for R40,000 (excluding VAT). Alternatively, individual sections can be purchased for R20,000 (excl. VAT).

For more information, contact us at [email protected] or directly at (021) 045-0202 or (010) 140-5756.

For a full brochure, go to: South African Fast Food Industry Report / QSR 2022.

About Insight Survey:

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