The Vegan Revolution – How Plant-Based Foods are Set to Dominate the Economy
Business Expert published free data about the unstoppable rise of the Vegan Business and its impact on our economy… and it’s nothing but positive!
The Veganuary initiative has seen its membership multiply by 100 in 6 years.
This data shows us that the ‘last ten years have seen global numbers multiply by more than seven times, especially among the under 35’s.’
In addition, with ‘one in eight Brits – or almost 13% of the population – now vegetarian or vegan, and a further 21% identifying as flexitarian, this means that at least ⅓ of the population are now eating a meat-reduced diet.’ Through a combination of 4 main reasons – Ethics, Health, Religion and Allergies, as well as the rise of the ‘Vegan Influencer’, the Vegan Revolution is fully in motion.
These increases in numbers are surging the movement forward, but what does that mean for the plant-based industry?
The plant-based meat global market value will be multiplied by 3 by 2027.
With so many large food chains adopting plant-based options, meat-free options are no longer limited to ‘niche companies’.
‘“Plant-based is not a threat,” said Wayne England, who leads Nestlé’s food strategy. “On the contrary, it’s a great opportunity for us. Many of our existing brands can play much more in this space than they do today, so we’re accelerating that shift, and there is also space for new brands.”’
‘A report by global consultants AT Kearney goes so far as to say that by 2040, 60% of meat will no longer come directly from animals’ and from that, it is estimated that the ‘conventional meat industry is on a twenty year countdown to being superseded – a remarkable fact given that it’s worth $2 trillion per year.’
Sales of plant-based milk are rising at warp speed as sales of dairy milk are slowly decreasing.
‘If we use the plant based milk industry as an example( an increase from 13 to 35 billion within 5 years), it’s clear that veganism has not only become mainstream, but could replace the traditional diet within the next century.’
The Global Vegan Market value will triple in the next 7 years.
‘Once considered a fringe dietary pursuit, veganism is now global and growing at warp speed.’ So it’s clear that the vegan market is only set to rise, resulting in the meat and dairy markets falling with the shift in diets and lifestyles….. the Vegan Revolution is here and it’s here to stay!
Here’s a link to the source piece: https://www.businessexpert.co.uk/the-vegan-economy/.
