The Vegan Food market size was valued at $14.2 billion in 2018 and is expected to reach $31.4 billion by 2026, registering a CAGR of 10.5% from 2019 to 2026. Vegan food products are generally dairy free or meat free food products that are derived or processed from plant-based sources.
How much is the vegan industry worth?
Veganism is on the rise, that much is undeniable. But the rate the plant-based meat market is growing is exponential. Within the next five years, it is estimated that the current market value of $4.3 billion will almost double, to be worth around $8.3 billion.
How big is the vegan industry?
In 2017, the sales value of vegan or vegetarian food stood at around two billion U.S. dollars in the United States, a figure which grew about 23 percent over the previous year.
How much is the vegan industry worth 2020?
In 2020, the global vegan food market attained a value of nearly USD 15.4 billion.
How big is the vegan market in the world?
In 2018, the global vegan food market was valued at $12.69 billion USD and is projected to grow at a Compound Annual Growth Rate (CAGR) of 9.6% as demand for products continues to grow.
Do vegans live longer?
When separated from the rest, vegans had a 15% lower risk of dying prematurely from all causes, indicating that a vegan diet may indeed help people live longer than those who adhere to vegetarian or omnivorous eating patterns ( 5 ).
Why is everyone becoming vegan?
Why Do It? Many people become vegan because of animal-rights or environmental concerns. (While there’s no data on vegan diets, one study found that vegetarian diets used 2.9 times less water and 2.5 times less energy in food production than a diet containing meat and poultry.)
Is the vegan food industry growing?
The vegan market sees 77% growth online
In fact, a record 400,000 people signed up for veganuary 2020. … According to our research, search demand for ‘Vegan’ food has grown 77% when comparing 2017 – 2018 with 2018 – 2019.
Is Vegan industry growing?
The global vegan food market size was valued at USD 12.69 billion in 2018 and is projected to expand at a CAGR of 9.6% from 2019 to 2025. … Growing awareness about animal health and animal cruelty in the food industry has been encouraging people to shift from animal-based to plant-based food products.
Are there more vegans now?
Current data shows that the number of vegans continues to rise, at an accelerated rate. The number of vegans in the U.S. grew by 600 percent from 4 million in 2014 to 20 million in 2018. Between 2011 and 2016, Italy had the fastest-growing vegan population with a growth of 94.4 percent.
Is plant-based industry growing?
The plant-based food market is expected to grow at a CAGR of 11.9% from 2020 to 2027 to reach $74.2 billion by 2027. … Based on product type, the dairy alternatives segment is estimated to dominate the overall plant-based products market in 2020, and is also expected to continue its dominance during the forecast period.
Where do the most vegans live?
Israel has the highest percentage of vegans globally, with an estimated 5 to 8 percent of the entire population being vegan, an estimated 400,000 people and growing. Many of these vegans inhabit Tel Aviv.
How big is the plant-based meat industry?
“According to the research report, the global Plant-Based Meat Market was estimated at USD 3.77 Billion in 2019 and is expected to reach USD 9.43 Billion by 2026. The global Plant-Based Meat Market is expected to grow at a compound annual growth rate (CAGR) of 14% from 2019 to 2026”.
Why is veganism so popular?
“It’s the go-to place for food inspiration and lots of plant-based foods look very appealing, which makes the images popular among users,” he told The Independent. A key part of what makes vegan content so stimulating is the growing community of social media influencers advocating the lifestyle as part of their brand.
How do vegans find customers?
Etsy, Facebook, Instagram, Pinterest, Snapchat, TikTok, Twitter, YouTube, and independent blogs have thousands upon thousands of vegan influencers. Every single day they are trying, talking about, and recommending vegan products ranging from food to plant-based products and everything in between.
What percentage of consumers are vegan?
Key statistics and facts:
As many as 6% of U.S. consumers say they are vegan — a 6x (500%) increase compared to just 1% in 2014. More than 500,000 participants signed up for Veganuary’s 2021 challenge2, a 25% increase from 2020. In 2020, Veganary had more than 400,000 participants.