Supermarket shelves with alt milk courtesy ProVeg

Image courtesy ProVeg

Plant-Based Milk Market to Be Worth $51.87Bn by 2032, Dominated by North America

According to a report by The Brainy Insights, the global plant-based milk market will be worth $51.87 billion by 2032, up from $20 billion in 2022. Key drivers will include the growing popularity of vegan diets, high rates of lactose intolerance, and sustainability concerns associated with dairy production. North America currently dominates the market, with a 38% share; it is expected to retain the largest market share over the forecast period. The promotion of plant-based diets on social media, along with health concerns and high rates of dairy allergies, will help to boost sales in the region. Furthermore, there is a huge range of milk alternatives available in North America, catering to a variety of tastes. The products are widely available in grocery stores, making …

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HOWND Pumpkin, Quinoa and Moringa Superfood

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HOWND Launches Allergy-Friendly Pumpkin, Quinoa and Moringa Superfood for Dogs

UK-based vegan dog food brand HOWND has expanded its Plant Powered Superfood range with a new dry food in the flavour Pumpkin, Quinoa and Moringa. The food also contains ingredients such as sweet potato, cranberry, and Phytodroitin; the latter is an innovative algae-based alternative to chondroitin, a supplement that supports joint health. The recipe is high in protein and low in fat and purines. The nutritionally-complete food is said to provide a “digestive reset” for dogs who have upset stomachs or are recovering from illness. It is also designed to be suitable for dogs with allergies and intolerances, and is free of soy, gluten, dairy, and GMOs. The product is vet-approved and sold in fully recyclable 2kg and 10kg packages. It is available to UK …

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Plant-based milk shelf at Albert Heijn

Image: ProVeg Netherlands

European Dairy Sales “Sluggish” While Plant-Based Alternatives Continue to See Growth

According to research by Rabobank, European dairy sales were “sluggish” in 2023, with many Western European companies seeing weaker-than-expected sales. Forecasts for 2024 are similarly weak. Companies in regions such as Australia, Brazil, and China also saw decreased demand last year. Rabobank predominantly blames high food price inflation and slowing economic activity for the decline, but acknowledges that changing consumer purchases also play a role in some regions. One of these changes could be a shift towards plant-based alternatives. Plant-based on the rise Figures published last year revealed that European plant-based milk sales had risen by 49% in the space of two years, with Germany having the highest turnover and market potential. In Switzerland, sales of milk alternatives increased by almost 80% between 2017 and …

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KLIMON Cherry Bomb Ice Cream

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Vegan Ice Cream Market to Grow With 12.8% CAGR as Consumers Adopt More Ethical Values

A new report by USD Analytics has predicted that the vegan ice cream market will grow with a CAGR of 12.8% through to 2032. The market will be driven by the increased adoption of plant-based lifestyles, along with a shift in consumer values towards more ethical and sustainable products. Furthermore, many consumers now perceive vegan ice cream as healthier than dairy options, and growing awareness of lactose intolerance is also boosting sales. Markets across the Asia Pacific, Europe, and the Americas are all expected to see significant growth. To capitalize on this market growth, the report suggests that manufacturers should offer a diverse range of flavors and textures, using ingredients such as nut butters, coconut milk, and fruit purees. This will help vegan ice creams …

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woman reading food label

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Study Shows ‘Healthy’ and ‘Sustainable’ Labels Outperform ‘Vegan’ in Consumer Choice

A new study involving 7,341 randomized US participants, conducted as part of the Understanding America Study (UAS), has revealed that food products without meat and dairy are more likely to be chosen when labeled as “healthy” and “sustainable” rather than “vegan” or “plant-based.” The study participants were asked to choose between a gourmet food gift basket without meat or dairy products and another containing meat and dairy products, with the former being labeled in one of five ways: “vegan,” “plant-based,” “healthy,” “sustainable,” or “healthy and sustainable.” The results were telling: only 20% and 27% of participants opted for the basket labeled “vegan” or “plant-based.” In contrast, labels emphasizing benefits — “healthy” (42%), “sustainable” (43%), and “healthy and sustainable” (44%) — significantly increased the likelihood of …

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On The Green Side clean label chicken alternatives

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ProVeg South Africa Report Shows Significant Rise in Plant-Based Options in Fast Food Industry

ProVeg South Africa has released a report on the prevalence of plant-based options in South Africa’s fast-food and restaurant industry, offering in-depth analysis and ranking of major chains based on their plant-based offerings, advertising strategies, product naming, and more. According to the report, fast-food consumption in South Africa has surged by 33.1% since 2019, spurred by challenges like the COVID-19 pandemic and load-shedding crises in the country, which caused many people to turn to fast food due to power outages in their homes. In response to growing health, ethical, and environmental concerns, plant-based main dishes have seen a 16.67% increase in menus, though they still constitute less than 5% of the total offerings. The rise in vegan, vegetarian, and flexitarian consumers, who now, according to …

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Planteneers fried sausage on fork

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Plant-Based Sausage Market to Record Huge 26.5% CAGR as Products Become “Indistinguishable” From Meat

According to a report by Future Market Insights, the plant-based sausage market is set to increase in value from $1,228.1 million in 2023 to $12,936.9 million by 2033. This represents a huge CAGR of 26.5%. A key driver will be the improved taste and texture of plant-based sausages, which the report says makes them increasingly indistinguishable from meat. Furthermore, many consumers view meat-free sausages as a healthier option, as they are cholesterol-free and typically lower in saturated fat than conventional sausages. Increased concern about animal welfare and the environment is another market driver. Finally, plant-based sausages are seen as a convenient option, as they can be cooked quickly and easily. All these drivers are expected to continue over the forecast period. Restraining factors However, several …

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Why it’s Imperative for Meat-Free Products in Canada to Target Meat-Eaters

A recent survey conducted by food services management company Sodexo Canada finds that while a huge proportion (74%) of Canadians are unwilling to completely give up meat — significantly higher than the global average of 42% — followed by 67% for fish and 54% for dairy, almost half (46%) are interested in reducing animal proteins for plant proteins and 46% are willing to reduce their intake of dairy products. Ultimately, this data as well as the further data below evidences that Canadian consumers refuse to quit animal products but do have a desire to replace some meat and dairy with animal-free alternatives. Producers and marketers should therefore strive to make this easy for the consumer and target the flexitarian group with inclusive language and marketing. …

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UK Vegan Population Estimated to Have Risen by 1.1 Million in a Year

According to research by personal finance comparison site Finder, the UK’s vegan population is now 2.5 million, meaning that 4.7% of adults follow a plant-based diet. This figure has risen by a huge 1.1 million between 2023 and 2024. There are also 3.1 million vegetarians in the UK, making up 5.8% of the population. This figure has slightly decreased since last year, but this may be because some vegetarians have become vegan. 3 million people are pescetarians, consuming fish but no other meat. Furthermore, a huge 6.4 million Brits say they plan to adopt some form of meat-free diet in 2024, with 2 million hoping to become vegan. The research points out that it is unlikely that all will follow through with their intentions, but …

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Plant-Based Chicken/ Meat Alternative

Hot and Spicy Crispy Chik'n ©MorningStar Farms

US Plant-Based Meat Market: Established Food Giants Projected to Dominate Amid Continued Shakeout

Larger market players such as Kellogg Co. (owner of MorningStar Farms), Maple Leaf Foods, (owner of Field Roast and Lightlife), Kraft Heinz, and Conagra (owner of Gardein) benefit from robust sales channels, extensive distribution networks, and brand recognition. As the market continues to grow, companies that are able to leverage their scale to produce high volumes of plant-based meat products at lower prices will likely make up the bulk of future revenue, according to a study by Grand View Research. The report claims that the US plant-based meat market, recently valued at $1.15 billion, is poised for significant growth, indicating a compound annual growth rate (CAGR) of 23.9% from 2023 to 2030. However, this expanding market is witnessing a notable shift in its competitive landscape, …

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Smoocht

©Smoocht

Global Vegan Dessert Market to Be Worth $6.2Bn by 2030

According to a report by USD Analytics, the global vegan dessert market is expected to grow with a CAGR of 10.5% through to 2030, increasing in value from $3.4 billion to $6.2 billion. Plant-based diets are increasingly seen as a healthy and sustainable option, and this is leading to rising demand for vegan desserts. Growth will be further increased by advancements in food technology, which are improving the quality of plant-based products. Vegan desserts are also becoming more accessible, with supermarkets and restaurants offering more options. Additionally, the use of specialty ingredients is helping to set plant-based desserts apart from conventional ones; for example, producers may include functional ingredients and superfoods such as matcha, turmeric, and hemp, or healthier sweeteners like date syrup, maple syrup, …

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New Culture_lifestyle

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Survey by New Culture Reveals Growing Interest in Animal-Free Mozzarella Among Omnivores

A recent survey conducted by AMC Global and alt-dairy startup New Culture has uncovered a significant interest in animal-free mozzarella cheese among a diverse group of consumers, including omnivores, flexitarians, and vegans. The study highlights a growing openness to animal-free dairy products, even among those who consume animal-based products. New Culture creates dairy-free cheese that has the same stretch and melt qualities as traditional cheese but without using any animal byproducts. This is achieved by replacing casein, the key dairy protein in cheese, with a non-animal alternative produced through precision fermentation. The company has recently scaled up its precision fermentation platform, achieving an 80% reduction in product cost, after debuting its animal-free mozzarella in Los Angeles last June. Shira Horn, Executive Vice President at AMC …

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Sodexo sees increase in plant-based sales

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Companies Report Increase in Plant-Based Sales, Contradicting Claims of Declining Consumer Interest

While many articles in the mainstream media continue to report the decline of veganism, the experiences of some companies contradict this. While 2023 did see a drop in sales of plant-based products for myriad reasons including the cost of living crisis, what the click-bait articles in the mainstream press fail to report is that many businesses in the UK and Europe are enjoying consistent and exponential success. As Marco Bertacca, CEO of Quorn Foods said to vegconomist today, “The category, like many others, has seen a slow-down, but we must not forget that this comes against the backdrop of many consecutive years of incredible growth. The reasons people buy meat-free are still there and as prevalent as ever. Consumers are still passionate about their health, …

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Planted man with sausage

© Planted

Coop Switzerland Reports Downward Trend of Women Purchasing Vegan Alternatives & Upward Trend Among Men

More than a quarter of consumers regularly eat vegan alternatives in Switzerland, according to the newly published Coop Plant-Based Food Report 2024. While the report does note that demand for all meat alternatives has increased significantly since 2018, with burgers, in particular, growing by 279% in this period, Coop does point out that this growth has declined over the past two years. However, vegan sausage and charcuterie alternatives are experiencing a strong upward trend. The top three categories of meat substitutes on the Swiss market in terms of sales are new: vegan schnitzel, sliced meat, and sausage alternatives. A newly emerging masculinity Interestingly, the report notes that in general, there has been a “downward trend in the proportion of women among substitute product customers over …

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2024 Predictions: Investing in Food System Transformation is Here

Here, Elysabeth Alfano and Dr. Sasha Goodman of VegTech Invest give their predictions for 2024. “I do believe that plant-based and alternative proteins are in the right place at the right time! 2023 was such an odd year, but we are seeing the light at the end of the tunnel, at least as it pertains to investing in food systems transformation,” says Elysabeth. Predictions from VegTech Invest Chief Investment Officer, Dr. Sasha Goodman Continued Surge in Health-Conscious Consumer Spending in Plant-based Foods: The Plant-based Innovation sector is poised for substantial revenue growth in 2024, fueled by an expanding health-conscious consumer base. This trend, as seen in companies like Dole plc with a 42.9% sales increase and Vita Coco and Ingredion Incorporated’s strong earnings, reflects a …

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Survey Uncovers Satisfaction Gap Between Vegetarians and Vegans in Plant-Based Foods

Recent research commissioned by Ingredient Communications and conducted by SurveyGoo has uncovered a significant decline in satisfaction among vegetarians regarding available food products. The survey, conducted online with 1,000 participants from the USA and UK, reveals a drop in net satisfaction rates for vegetarians, in contrast to a rising satisfaction among vegans. In 2018, the net satisfaction rate among vegetarians stood at +47%. However, this figure has now dropped to just +8%. The US market shows an even more prominent decline, with vegetarian satisfaction dropping from +38% to -10%, a negative swing of 48%. The UK market follows a similar trend, witnessing a 35% negative swing from +55% to +20%. Richard Clarke, managing director of Ingredient Communications, notes, “High levels of dissatisfaction and declining net …

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Cultivated meatballs

Image credit: Omeat

Market for Cultivated Meat Ingredients to See “Transformative Shift” in the Coming Years

According to a report by ResearchandMarkets, the global market for cultivated meat ingredients will see significant expansion over the next five years as the emphasis on sustainable proteins continues to increase. The market is said to be undergoing a “transformative shift”, as the food tech industry expands and advancements are made in cell engineering. New techniques to efficiently isolate and proliferate animal cells, along with improved bioreactors, will ensure that cultivated meat production can be scaled effectively. In turn, this will boost the market for cultivated meat ingredients. Meanwhile, the use of cost-effective ingredients such as algae, microorganisms, and plant-based ingredients as nutrient sources for cultivated cells could provide opportunities for innovation, creating further potential for market expansion. Barriers to acceptance However, the market is …

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Vegan Dog Food Market Poised for Explosive Growth, Reaching $31.48Bn by 2029

According to a report by Data Bridge Market Research, the global vegan dog food market will see rapid growth in the coming years, with its value increasing from $12.27 billion in 2021 to $31.48 billion by 2029. This represents a CAGR of 12.5%. The market will be driven by the increased “humanization” of pets, where people see pets as part of their family and demand high-quality, nutritious, and digestible foods. Additionally, as more consumers adopt vegan diets with the belief that they are healthier and more sustainable, many are looking to feed their pets a plant-based diet too. Rise in pet ownership Worldwide, having a pet is becoming increasingly popular, driven by rising incomes and the impact of the pandemic. This is increasing the demand …

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GTFO It's Vegan Salmon Sashimi/ Sushi

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Global Vegan Sashimi Market to Be Worth $218.8M by 2033

According to a new report by Future Market Insights, the global vegan sashimi market will be worth $218.8 million by 2033, growing with a CAGR of 8.5% over this period. As consumers become increasingly concerned about the environment, animal welfare, and health, demand for plant-based seafood products is growing rapidly. At the same time, interest in Japanese dishes such as sushi and sashimi is also increasing. These factors will lead to a rise in demand for vegan sashimi. Over the forecast period, government initiatives supporting the development of plant-based foods are expected to help the industry expand, while new technologies will make it possible to produce better quality, more realistic products. Expanding economies in Asian countries, the increasing trend towards fusion cuisine, and rising demand …

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Climax Food cheeses

Image courtesy of Climax Foods

Vegan Cheese Market to Surpass $8 Billion by 2032

According to a report by marketresearch.biz, the vegan cheese market will increase in value from $4.2 billion to $8 billion by 2032, growing with a CAGR of 6.2%. The predicted growth — described as “unprecedented” — is attributed to increasing consumer awareness of animal welfare, health, and sustainability. New technologies — such as the recent development of high-protein cheese alternatives made from fermented legumes in Denmark — will also boost the market by improving taste, texture, and nutritional value. Furthermore, the growing availability of vegan cheeses in supermarkets and restaurants will increase sales and consumer awareness. Growth for vegan mozzarella Soy-based vegan cheese is expected to account for two-fifths of the market, with almond-based products also seeing significant growth. In terms of variety, mozzarella and …

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