cost of living

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Market & Trends

Mintel: Cost of Living Crisis Motivates British People to Consume Less Meat

When it comes to reducing meat consumption, sustainability takes a back seat in the face of the cost-of-living crisis. According to a new study by Mintel, the perceived financial benefits of consuming less meat jumped in 2022. When asked about the benefits of eating less meat, a new Mintel study conducted among UK consumers shows that the percentage of consumers who believe eating less meat is “a good way to save money” increased from 27% in 2021 to 43% in 2022. The view that reducing meat consumption is “better for the environment” decreased from 47% in 2021 to 41% in 2022, due to a reportedly lower perception of the environmental benefits of abstaining from meat in 2022. Overall, one in ten Britons (10%) is not …

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Waitrose vegan

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Studies & Numbers

UK: Price of Vegan Products Rising Faster Than Average, Says Evening Standard

An analysis by The Evening Standard has found that the cost of meat, dairy, and egg alternatives rose by an average of 18% over the past year, while the average increase across all categories was 14.6%. The newspaper looked at the price of vegan products from supermarkets Tesco, Asda, and Iceland. It found that meat alternatives had gone up by 23% on average, and plant-based cheeses by 28%. Milk alternatives were up 25%, while vegan pizza rose the most at 42%. The Standard noted that certain brands had seen particularly large increases, with Asda’s own-label soymilk up 35% and a three-pack of Magnum Vegan Almond ice lollies rising by 40%. With inflation on the increase internationally, research has found declining sales across many plant-based categories, …

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ProVeg NFH cost of living article

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Manufacturing & Technology

4 Simple Actions for Plant-Based Product Manufacturers Navigating the Cost-of-Living Crisis

Are you looking for advice on safeguarding your manufacturing business against the cost-of-living crisis? ProVeg International has recently published the second part of its cost-of-living series that shares actions that manufacturers of plant-based products should take to minimise the impacts of the crisis.  Reviewing your entire business might be easier said than done, but it’s vital if you want to continue to save and make money in a challenging marketplace. Indeed, it’s important to try to see the opportunity in any bad situation. When times are tough, we can use the experiences and learnings we’ve gained to make changes and improvements. With this in mind, the cost-of-living crisis can be viewed as a chance to restructure, innovate, and improve all areas of your business and …

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ProVeg NFH businesspeople in office

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Retail & E-Commerce

Leverage the Cost-of-Living Crisis and Grow Your Plant-Based Business

Upon entering a new year, there will be things we want to leave in the past and others we want to bring into the future. Unfortunately, last year’s cost-of-living crisis has stepped into 2023 with us and it looks set to stay for a while yet.  Food inflation is having an immediate impact on grocery prices, affecting everyday consumers and businesses alike. According to Statista, the inflation rate for food and non-alcoholic beverages in the European Union reached a staggering 17.9% in November 2022. Consumers are reacting by purchasing fewer treats and reducing their overall budgets and consumption. Additionally, people are changing what they are buying and from where, including switching supermarkets and cutting back on purchasing meat products. Plant-based products less vulnerable to inflation …

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