The Latest Vegan Food Industry Statistics Explained
The global vegan food market size was valued at USD 14.2 billion in 2018.
The statistic that the global vegan food market size was valued at USD 14.2 billion in 2018 indicates the total monetary value of the market for plant-based food products worldwide during that year. This figure represents the amount of money spent on vegan food products, including items such as plant-based meat alternatives, dairy substitutes, and other vegetarian and vegan-friendly options. The value of USD 14.2 billion highlights the increasing popularity and economic significance of veganism as a dietary choice, as consumers are increasingly seeking out plant-based alternatives for health, environmental, and ethical reasons. This statistic also suggests a growing market opportunity for businesses within the vegan food industry to innovate, expand, and cater to the rising demand for vegan food products globally.
The vegan food market is expected to grow at a CAGR of 9.6% from 2019 to 2025.
This statistic indicates that the vegan food market is projected to experience a Compound Annual Growth Rate (CAGR) of 9.6% over the period from 2019 to 2025. This growth rate suggests that the market for vegan food products is expected to expand steadily at an annual rate of 9.6% during this time frame. The increasing consumer awareness and demand for plant-based alternatives, coupled with a shift towards healthier and more sustainable food choices, are likely driving this growth trend. Businesses operating in the vegan food sector can expect continued opportunities for market expansion and profitability based on this forecasted growth trajectory.
The U.S. vegan food market was valued at $12.69 billion in 2018.
The statistic ‘The U.S. vegan food market was valued at $12.69 billion in 2018’ indicates the total worth of the vegan food industry in the United States during that year. This value represents the sum of all sales generated from various vegan food products, including plant-based alternatives to traditional animal-derived foods such as meat, dairy, and eggs. The figure serves as a quantitative measure of the economic significance and growth trajectory of the vegan food sector within the broader food industry landscape. The increasing consumer awareness and demand for plant-based, cruelty-free, and environmentally sustainable food options have contributed to the substantial market value attributed to vegan products in 2018. Furthermore, this statistic could be used to analyze market trends, forecast future growth potential, and guide strategic decision-making for businesses operating within or looking to enter the U.S. vegan food market.
Plant-based meat market is expected to reach $35.4 billion by 2027.
The statistic “Plant-based meat market is expected to reach $35.4 billion by 2027” denotes the projected growth and size of the market for plant-based meat products by the year 2027. This figure represents the estimated total value of sales within this sector, indicating a notable increase in consumer demand for plant-based alternatives to traditional animal-derived meat products. The significant financial value assigned to the plant-based meat market suggests a shift in consumer preferences towards plant-based options due to various factors such as health concerns, environmental sustainability, and ethical considerations. This prediction highlights the promising growth opportunities within the plant-based food industry and underscores the potential for continued expansion in the coming years.
Europe has the largest vegan food market followed by North America.
The statistic that Europe has the largest vegan food market followed by North America suggests that these two regions have a significant presence and demand for vegan food products. This may be attributed to various factors such as increasing awareness of health and environmental benefits of plant-based diets, cultural influences promoting veganism, and the availability of a wide range of vegan food options in these regions. The high demand for vegan products in Europe and North America indicates a growing trend towards plant-based eating and a shift towards more sustainable and ethical food choices among consumers in these regions. Companies operating in the vegan food market could potentially benefit from focusing on these regions to capitalize on the increasing demand for vegan products.
The dairy-alternatives segment is projected to be the fastest-growing in the vegan food market from 2020-2027.
The statistic indicates that within the vegan food market, the dairy-alternatives segment is anticipated to experience the highest rate of growth between the years 2020 and 2027. This suggests a rising consumer preference towards plant-based alternatives to traditional dairy products among individuals following a vegan diet or those looking to reduce their consumption of animal-derived foods. Factors such as increasing awareness of health benefits associated with plant-based diets, environmental concerns related to animal agriculture, and a growing demand for cruelty-free and sustainable food options are likely driving the projected growth in this segment. As a result, food companies and retailers are expected to focus more on developing and promoting dairy-free alternatives to cater to this growing market trend.
Sales of plant-based food grew 11.4% in the past year.
The statistic that sales of plant-based food grew by 11.4% in the past year indicates a substantial increase in consumer demand for plant-based products. This growth rate suggests a shift in consumer preferences towards healthier, sustainable, and ethical food choices, driven by factors such as health consciousness, environmental concerns, and ethical considerations. Companies in the food industry are likely to capitalize on this trend by expanding their plant-based product lines to meet the growing demand. The double-digit growth rate signifies a significant opportunity for businesses to cater to the increasing market for plant-based foods and demonstrates the potential for continued growth in this sector in the future.
Plant-based food market has grown 29% in the past two years.
The statistic “Plant-based food market has grown 29% in the past two years” indicates a substantial increase in the market size for plant-based food products over the specified period. This growth rate suggests a growing consumer interest and demand for plant-based foods, potentially fueled by factors such as health consciousness, environmental concerns, and ethical considerations. The 29% growth signifies a significant shift in consumer preferences towards plant-based options, which could have implications for the food industry as a whole, including potential shifts in product development, marketing strategies, and investment opportunities in the plant-based food sector.
In 2020, UK vegan food sales increased by 40% to an estimated $1.2 billion.
The statistic reported that in 2020, the sales of vegan food products in the UK saw a substantial increase of 40% compared to the previous year, reaching an estimated value of $1.2 billion. This significant growth reflects a rising consumer interest and demand for plant-based food options in the UK. Factors such as health consciousness, ethical considerations, environmental concerns, and the availability of a wider variety of vegan products in the market likely contributed to this surge in sales. The sharp increase in vegan food sales demonstrates a notable shift in consumer preferences towards more sustainable and plant-based dietary choices in the UK.
42% of the UK’s vegans made the change in 2018 showing a steep growth in recent years.
The statistic “42% of the UK’s vegans made the change in 2018” indicates that almost half of the vegan population in the UK adopted a vegan lifestyle in 2018. This suggests a significant increase in the number of vegans in the country within a relatively short period, reflecting a growing trend towards plant-based diets and a heightened awareness of ethical and environmental concerns related to animal agriculture. The term “steep growth in recent years” further emphasizes the rapid pace at which veganism is gaining popularity in the UK, highlighting a shift towards more sustainable and compassionate dietary choices among a significant portion of the population.
In the U.S., plant-based yogurt grew by 54% from 2016-2018.
The statistic highlights the significant growth of the plant-based yogurt market in the United States over the two-year period from 2016 to 2018. Specifically, it indicates that the sales or consumption of plant-based yogurt soared by 54% during this time frame. This growth rate is indicative of the increasing popularity and acceptance of plant-based alternatives among consumers, driven by factors such as health consciousness, environmental concerns, and dietary preferences. The statistic underscores the notable shift towards plant-based products in the food industry and reflects a growing demand for dairy-free options, offering insights into evolving consumer trends and market dynamics within the yogurt sector.
China’s plant-based meat market is estimated to grow by 200% over the next five years.
The statistic indicating that China’s plant-based meat market is projected to grow by 200% over the next five years suggests a significant and rapid expansion in consumer demand for plant-based meat alternatives in the country. This growth rate signifies a tripling of the market size within the specified time frame, highlighting the increasing popularity and acceptance of plant-based protein options among Chinese consumers. Factors driving this growth may include shifting dietary preferences towards healthier and more sustainable food choices, concerns about the environmental impact of conventional meat production, and a growing awareness of the health benefits associated with plant-based diets. The projection also underscores the potential for further innovation and investment in the plant-based meat industry in China, presenting opportunities for businesses to capitalize on this burgeoning market trend.
U.S. retail sales of plant-based foods have increased 31% in the past two years.
The statistic that U.S. retail sales of plant-based foods have increased by 31% in the past two years indicates a significant and rapid growth in consumer demand for plant-based food products. This large increase suggests a shift in consumer preferences towards healthier, more sustainable, and ethically conscious food choices. Factors contributing to this growth may include increasing awareness of the health and environmental benefits of plant-based diets, as well as improvements in the taste and variety of plant-based food offerings on the market. The trend aligns with a broader movement towards plant-based eating and may signal a long-term change in the food industry as consumers seek out alternatives to traditional animal-based products.
Plant-based meat substitute sales grow by 226% in March 2020 due to COVID-19-driven buying.
The statistic indicates that sales of plant-based meat substitutes saw a substantial increase of 226% in March 2020, which can be attributed to the impact of the COVID-19 pandemic on consumer behavior. With the global health crisis leading to disruptions in the meat supply chain and concerns about food safety, many consumers turned to plant-based alternatives as a perceived healthier and more sustainable option. This surge in sales reflects a changing trend in consumer preferences towards plant-based products during the pandemic, highlighting the potential for this market to expand further in response to evolving consumer needs and preferences.
1 in 3 Brits stopped or reduced their meat consumption in 2018.
The statistic “1 in 3 Brits stopped or reduced their meat consumption in 2018” indicates that approximately one-third of the population in Britain made a conscious effort to either completely eliminate or decrease their intake of meat products in the year 2018. This shift towards reducing meat consumption suggests a growing trend towards more plant-based or flexitarian diets in the country, which may be driven by factors such as health concerns, ethical considerations related to animal welfare, environmental sustainability, or personal taste preferences. The statistic highlights a significant proportion of the population making a choice to modify their dietary habits towards more plant-based alternatives, reflecting a broader societal shift towards healthier and more sustainable eating habits.
Google searches for ‘vegan cheese’ increased by 350% in the past 5 years.
The statistic indicates that searches on Google for ‘vegan cheese’ have experienced a significant increase of 350% over the past five years. This growth suggests a growing interest and popularity in vegan cheese among individuals worldwide. The trend could be attributed to various factors, such as a rise in veganism and plant-based diets, increased awareness of lactose intolerance and dairy allergies, as well as a growing demand for healthier and more sustainable food options. The remarkable increase in Google searches for ‘vegan cheese’ reflects a shift in consumer behavior towards more conscious and ethical choices in their dietary preferences.
17% of consumers aged 15-34 consider themselves vegans or vegetarians.
The statistic that 17% of consumers aged 15-34 consider themselves vegans or vegetarians indicates the proportion of individuals within this age group who adhere to plant-based diets. This finding suggests that there is a sizable segment of young consumers who choose to follow dietary patterns that exclude animal products, which may have implications for the food industry and marketing strategies targeting this age group. Understanding this statistic can help businesses tailor their products and services to meet the preferences and needs of vegan and vegetarian consumers in the 15-34 age range.
65% of global consumers are cutting back on meat or are not eating it at all.
The statistic that 65% of global consumers are cutting back on meat or not eating it at all indicates a significant shift in dietary preferences and behaviors. This trend suggests a widespread movement towards plant-based diets or reduced meat consumption for various reasons, including health concerns, environmental impacts, and ethical considerations. The substantial percentage of consumers making this choice emphasizes a growing awareness and interest in alternative food sources that align with personal values and lifestyle preferences. As such, food industries and markets may need to adapt to accommodate this evolving trend by offering more plant-based options and nutritional information to cater to the changing demands of consumers worldwide.
The total market size of dairy alternatives is projected to reach $45.2 billion by 2027.
The statistic “The total market size of dairy alternatives is projected to reach $45.2 billion by 2027” indicates that the market for non-dairy milk and other dairy substitute products is expected to experience significant growth over the next few years. This projection suggests a growing consumer preference for plant-based dairy alternatives due to various reasons such as health, environmental concerns, and dietary restrictions. The substantial estimated market value of $45.2 billion signifies the increasing demand for these products worldwide, which is also likely to drive innovation and competition in the dairy alternatives industry as companies strive to capitalize on this expanding market opportunity.
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