The surge in plant-based protein and plant-meat sales “has been driven by the expanding urbanization, increasing obesity rates and a surging vegan population.”
A report published on Researchandmarkets.com estimates that the global plant-based protein market and the global plant-based meat market are poised to reach $35.54 billion and $24.11 billion by 2024 respectively.
The report highlights that the key drivers leading the plant-based revolution are “expanding urbanization, increasing obesity rates and surging vegan population.”
The figures seem hardly surprising with numerous analyses highlighting changing consumer preferences owing to disease prevalence, changes in lifestyle, concerns for animals and the environment and improved R&D stimulating the burgeoning trend of the plant-based sector.
The report further noted that North America was the fastest-growing market for plant-based protein due to increased lifestyle disorders such as obesity along with “surging health awareness among the adults and rising millennial population in the region.”
A similar report highlighted that plant-based protein demand had increased with veganism gaining traction globally and North America and Europe together hold more than 65% of the market share in the plant-based protein market.
Growing vegan trend in the US
According to Numerator’s Infoscout Omnipanel data last year, 80% of US shoppers were ready to replace a portion or all of their meat consumption with meatless alternatives.
A new survey conducted in the US by consulting agency Cultivate Insights found that in the time period between April 2019 and July 2019, younger generations were the top consumers of plant-based products with 54% of Generation Z women and 49% of millennial women admitting to buying vegan food items along with 45% of millennial men and 41% of Generation X women. In the older generation, 28% of male Baby Boomers indicated they had purchased plant-based products recently.
“Plant-based buying has become common in all major demographic groups,” said Che Green, the lead report author of Cultivate Insights.
“Part-time vegetarians are helping shape a new food system driven by health, sustainability, and animal welfare.”
Share this article to reveal how the plant-based industry is growing globally.
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UK’s first fully vegan school kitchen is a huge hit among pupils
- Mohsina Dodhiya
- 23rd May 2022
The Lady of Sion School in Worthing opened what is believed to be UK’s first 100% Plant-Based Canteen serving black bean and quinoa meatballs in barbecue sauce, veggie fajitas with Mexican rice and meatless feast pizza. A school in West Sussex has received an overwhelming positive response after it adopted an all-vegan menu. In January, …
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75% of Brits prefer vegan cars, says new study
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A number of companies already offer a variety of plant-based leathers using everything from apples and cactus to pineapple leaves. A new poll has revealed that a majority of UK motorists are keen on buying fully vegan cars. In a research commissioned by the Vegan Society, people were asked about their opinions on vegan cars …
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QUIZ: If you score 11/12 on this quiz, you’re a verified vegan food expert
- Marlon Farrugia
- 10th January 2020
How much vegan knowledge do you have stored away? Do you have to Google your way through a shopping trip, or do you have all the bad E-numbers memorised? Find out now with this quiz. Marlon Farrugia Marlon Farrugia is a freelance writer from Brighton. He has been a dedicated vegan for many years, and …
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QUIZ: What is your perfect Vegan Halloween Costume?
- Marlon Farrugia
- 13th October 2019
Spook Season approaches. There will be ghosts, goblins, ghouls, and glucose. You need a costume, and you want to it to show off your personality, which means VEGAN. But what to choose? Take our quiz to find out your perfect outfit. Marlon Farrugia Marlon Farrugia is a freelance writer from Brighton. He has been a …
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QUIZ: What kind of vegetable are you?
- Marlon Farrugia
- 26th September 2019
“If you were a vegetable, what kind would you be?” A question that has tormented humanity throughout the ages – until now. Read: QUIZ: If you score 19/20 on THIS quiz, you’re a Vegan God Marlon Farrugia Marlon Farrugia is a freelance writer from Brighton. He has been a dedicated vegan for many years, and …