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Vegetarian & Vegan Restaurants in the US - Market Research Report (2014-2029)

Federico Irigoyen Federico Irigoyen New York, United States Last Updated: October 2024 NAICS OD6164

Revenue

$41.2bn

2024

$41.2bn

Past 5-Year Growth

Profit

$X.Xbn

Employees

492k

Businesses

32,288

Wages

$XX.Xbn

Vegetarian & Vegan Restaurants in the US industry analysis

Vegetarian and vegan restaurants in the US have seen a remarkable rise in popularity recently, driven by increasing awareness of health benefits and environmental sustainability. Once considered niche, these establishments have become mainstream as more consumers embrace plant-based diets. The sector has grown significantly, with chefs pushing culinary boundaries and creating innovative menus. However, the industry has also faced challenges, like supply chain disruptions from recent hurricanes, which have impacted the availability of fresh produce and increased operational costs. Despite these setbacks, community support has helped many businesses stay afloat, highlighting the resilience and growing demand for vegetarian and vegan options. Revenue is expected to swell at a CAGR of 2.0% to $41.2 billion over the five years to 2024, including a hike of 0.1% in 2024 alone.

Trends and Insights

  • Vegetarian and vegan restaurants have performed well. Many consumers with little exposure to the food have grown open to visiting them, driven by the rising popularity of the flexitarian diet and rising health consciousness.
  • Most establishments in the Vegetarian and Vegan Restaurant industry are full-service restaurants. This restaurant type will collectively account for more than half of revenue.
  • The distribution of establishments in the Vegetarian and Vegan Restaurants industry is highly correlated with population density and income. This is likely because these restaurants are part of a service-based retail industry.
  • The Vegetarian and Vegan Restaurant industry has a low market share concentration. This is evident in its fragmented structure and the countless small companies that dominate it.

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  • Market estimates from 2014-2029
  • Critical performance data and rankings
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Industry Statistics and Trends

Market size and recent performance (2014-2029)

Industry revenue has grown at a CAGR of 2.0 % over the past five years, to reach an estimated $41.2bn in 2024.

Trends and Insights

Health-conscious consumers have taken to following a flexitarian diet

  • In recent years, veggie cuisine's become a staple in the American diet. This trend aligns with the rise of the flexitarian approach, attracting those who occasionally seek plant-based meals without fully committing to vegetarianism or veganism.
  • Additional trends and insights available with purchase
Vegetarian & Vegan Restaurants in the US
Revenue (2014-2029)
IBISWorld Logo Source: IBISWorld

Industry outlook (2024-2029)

Market size is projected to grow over the next five years.

Trends and Insights

Vegetarian and vegan restaurants will likely benefit from greater foot traffic

  • With household incomes on the rise, experts predict a notable boost in restaurant spending. Establishments may see increased customer flows as diners embrace dining out after extended homebound periods.

Biggest companies in the Vegetarian & Vegan Restaurants in the US

Company
Market Share (%)
2024
Revenue ($short_0)
2024
Profit ($short_0)
2024
Profit Margin (%)
2024

There are no companies that hold a large enough market share in the Vegetarian & Vegan Restaurants in the US industry for IBISWorld to include in this product.

Products & Services Segmentation

Vegetarian & Vegan Restaurants in the US
Products & Services
IBISWorld Logo Source: IBISWorld

Industry revenue is measured across several distinct product and services lines, including Full-service vegetarian restaurants, Limited-service vegetarian restaurants and Full-service vegan restaurants. Full-service vegetarian restaurants is the largest segment of the Vegetarian & Vegan Restaurants in the US.

Trends and Insights

The rise of full-service vegetarian restaurants

  • Full-service vegetarian restaurants deliver an enriching dining experience. They feature various plant-based dishes, attentive service and a distinct atmosphere that invites customers to savor their meals leisurely. Such establishments cater to those seeking a comprehensive and enriching culinary experience without including meat products.
  • More insights available in the full report

Table of Contents

About this industry

Industry definition

This industry includes quick-service and full-service restaurants that exclusively sell vegan and vegetarian food and drinks. This industry does not include restaurants that sell a small portion of vegan or vegetarian food as part of a wider cuisine.

What's included in this industry?

Full-service restaurant operation (waiter or waitress service at tables)Quick-service restaurant operationFast-food restaurant operation

Companies

Purchase this report to view all major companies in this industry.

Related Terms

VEGETARIANVEGANFLEXITARIAN

Industry Code

NAICS 2017

NAICS 72251 - Vegetarian & Vegan Restaurants in the US

Performance

Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.

Analyst insights

Vegetarian and vegan restaurants have performed well. Many consumers with little exposure to the food have grown open to visiting them, driven by the rising popularity of the...

In this chapter (4)

  • Current Performance
  • Outlook
  • Volatility
  • Life Cycle

Key metrics

  • Annual Revenue, Recent Growth, Forecast, Revenue Volatility
  • Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
  • Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
  • Total Profit, Profit Margin, Profit per Business

Charts

  • Revenue, including historical (2014-2023) and forecast (2024-2029)
  • Employees, including historical (2014-2023) and forecast (2024-2029)
  • Businesses, including historical (2014-2023) and forecast (2024-2029)
  • Profit, including historical (2014-2024)
  • Industry Volatility vs. Revenue Growth
  • Industry Life Cycle

Detailed analysis

  • Trends in supply, demand and current events that are driving current industry performance
  • Expected trends, economic factors and ongoing events that drive the industry's outlook
  • Key success factors for businesses to overcome volatility
  • How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.

Products and Markets

Learn about an industry's products and services, markets and trends in international trade.

Analyst insight

Most establishments in the Vegetarian and Vegan Restaurant industry are full-service restaurants. This restaurant type will collectively account for more than half of revenue...

In this chapter

  • Products & Services
  • Major Markets

Key metrics

  • Largest market segment and value in 2024
  • Product innovation level

Charts

  • Products & services segmentation in 2024
  • Major market segmentation in 2024

Detailed analysis

  • Trends impacting the recent performance of the industry's various segments
  • Innovations in the industry's product or service offering, specialization or delivery method
  • Key factors that successful businesses consider in their offerings
  • Buying segments and key trends influencing demand for industry products and services

Geographic Breakdown

Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.

Analyst insights

The distribution of establishments in the Vegetarian and Vegan Restaurants industry is highly correlated with population density and income. This is likely because these rest...

In this chapter (1)

  • Business Locations

Charts

  • Share of revenue, establishment, wages and employment in each state
  • Share of population compared to establishments in each region in 2024

Tables

  • Number and share of establishments in each state in 2024
  • Number and share of revenue each state accounts for in 2024
  • Number and share of wages each state accounts for in 2024
  • Number and share of employees in each state in 2024

Detailed analysis

  • Geographic spread of the industry across North America, and trends associated with changes in the business landscape
  • Key success factors for businesses to use location to their advantage

Competitive Forces

Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.

Analyst insights

The Vegetarian and Vegan Restaurant industry has a low market share concentration. This is evident in its fragmented structure and the countless small companies that dominate...

In this chapter (4)

  • Concentration
  • Barriers to Entry
  • Substitutes
  • Buyer & Supplier Analysis

Key metrics

  • Industry concentration level
  • Industry competition level and trend
  • Barriers to entry level and trend
  • Substitutes level and trend
  • Buyer power level and trend
  • Supplier power level and trend

Charts

  • Market share concentration among the top 4 suppliers from 2019-2024
  • Supply chain including upstream supplying industries and downstream buying industries, flow chart

Detailed analysis

  • Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
  • Key success factors for businesses to manage the competitive environment of the industry.
  • Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
  • Key success factors for potential entrants to overcome barriers to entry.
  • Competitive threats from potential substitutes for the industry’s own products and services.
  • Key success factors for how successful businesses can compete with substitutes.
  • Advantages that buyers have to keep favorable purchasing conditions.
  • Advantages that suppliers have to maintain favorable selling conditions.
  • Key success factors for how businesses can navigate buyer and supplier power.

Companies

Learn about the performance of the top companies in the industry.

Analyst insights

The US's Vegetarian and Vegan Restaurant industry has no leading company due to a lack of consolidation and fragmentation of the market. Low barriers to entry allow new resta...

In this chapter

  • Market Share Concentration
  • Companies
  • Company Spotlights

Charts

  • Industry market share by company in 2020 through 2024
  • Major companies in the industry, including market share, revenue, profit and profit margin in 2024

Detailed analysis

    External Environment

    Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.   

    Analyst insights

    Businesses within the Vegetarian and Vegan Restaurants industry have been subject to moderate regulation. This regulation includes rules related to labor condition standards ...

    In this chapter

    • External Drivers
    • Regulation & Policy
    • Assistance

    Key metrics

    • Regulation & policy level and trend
    • Assistance level and trend

    Charts

    • Regulation & Policy historical data and forecast (2014-2029) 
    • Assistance historical data and forecast (2014-2029) 

    Detailed analysis

    • Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
    • Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
    • Key governmental and non-governmental groups or policies that may provide some relief for industry operators.

    Financial Benchmarks

    View average costs for industry operators and compare financial data against an industry's financial benchmarks over time. 

    Analyst insights

    Restaurants are labor and input-intensive. Vegetarian and vegan restaurants experience high wage and purchase costs, which have constrained profit growth.

    In this chapter

    • Cost Structure
    • Financial Ratios
    • Key Ratios

    Key metrics

    • Profit margin, and how it compares to the sector-wide margin
    • Average wages, and how it compares to the sector-wide average wage
    • Largest cost component as a percentage of revenue
    • Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio

    Charts

    • Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
    • Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
    • Investment vs. share of economy

    Data tables

    • Industry Multiples (2017-2022)
    • Industry Tax Structure (2017-2022)
    • Income Statement (2017-2022)
    • Balance Sheet (2017-2022)
    • Liquidity Ratios (2017-2022)
    • Coverage Ratios (2017-2022)
    • Leverage Ratios  (2017-2022)
    • Operating Ratios (2017-2022)
    • Cash Flow & Debt Service Ratios (2014-2029)
    • Revenue per Employee (2014-2029)
    • Revenue per Enterprise (2014-2029)
    • Employees per Establishment (2014-2029)
    • Employees per Enterprise (2014-2029)
    • Average Wage (2014-2029)
    • Wages/Revenue (2014-2029)
    • Establishments per Enterprise (2014-2029)
    • IVA/Revenue (2014-2029)
    • Imports/Demand (2014-2029)
    • Exports/Revenue (2014-2029)

    Detailed analysis

    • Trends in the cost component for industry operators and their impact on industry costs and profitability 

    Key Statistics

    Industry Data

    Data Tables

    Including values and annual change:

    • Revenue (2014-2029)
    • IVA (2014-2029)
    • Establishments (2014-2029)
    • Enterprises (2014-2029)
    • Employment (2014-2029)
    • Exports (2014-2029)
    • Imports (2014-2029)
    • Wages (2014-2029)

    Top Questions Answered

    Unlock comprehensive answers and precise data upon purchase. View purchase options.

    What is the market size of the Vegetarian & Vegan Restaurants in the US industry in United States in 2024?

    The market size of the Vegetarian & Vegan Restaurants in the US industry in United States is $41.2bn in 2024.

    How many businesses are there in the Vegetarian & Vegan Restaurants in the US industry in 2024?

    There are 32,288 businesses in the Vegetarian & Vegan Restaurants in the US industry in United States, which has grown at a CAGR of 4.7 % between 2019 and 2024.

    Has the Vegetarian & Vegan Restaurants in the US industry in United States grown or declined over the past 5 years?

    The market size of the Vegetarian & Vegan Restaurants in the US industry in United States has been growing at a CAGR of 2.0 % between 2019 and 2024.

    What is the forecast growth of the Vegetarian & Vegan Restaurants in the US industry in United States over the next 5 years?

    Over the next five years, the Vegetarian & Vegan Restaurants in the US industry in United States is expected to grow.

    What does the Vegetarian & Vegan Restaurants in the US in United States include?

    Full-service restaurant operation (waiter or waitress service at tables) and Quick-service restaurant operation are part of the Vegetarian & Vegan Restaurants in the US industry.

    How competitive is the Vegetarian & Vegan Restaurants in the US industry in United States?

    The level of competition is high and steady in the Vegetarian & Vegan Restaurants in the US industry in United States.

    Related Industries

    Widen your competitive advantage with related industries

    Competitors

    • There are no industries to display.

    Complementors

    • There are no industries to display.

    International industries

    • Global Fast Food Restaurants
    • Full-Service Restaurants in Canada
    • Cafes and Restaurants in New Zealand
    • Restaurants and Takeaways in Ireland
    • Full-Service Restaurants in China

    View all industries in United States

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    Key data sources in the US include: 

    • US Census Bureau
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    • US International Trade Commission

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    • Industry federations or regulators
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