According to the Vegconomist business magazine, a new report from Bloomberg Intelligence predicts that the growth of the vegan food market will be "explosive", reaching $162 billion by 2030. The report, Plant-Based Foods Poised for Explosive Growth, predicts the market value will grow from $29.4 billion in 2020 to $162 billion by 2030.
Consumers are increasingly turning away from conventional meat due to growing concerns about health, ethics and sustainability. So much so that vegan products are named the category of the year in 2021 thanks to their 199% annual growth by market intelligence platform 1010data.
The statistics also show the popularity and growth of the terms used for pre-purchase product searches. A growing consumer interest in the sector, the words "plant-based" (vegan) has increased by 148% and "vegan" by 88%.
Amazon records 44,000 vegan meat-related searches in one month (June 2021). The Label Insight platform analyzed searches for meat alternatives: The most commonly used words in this category were "vegan meat," "vegan chicken," "vegan burgers" and "vegan fish." The study found that during this period, 44,000 searches for meat alternatives were conducted on Amazon US.
The vegan market is becoming more and more attractive, even for those who do not work exclusively in this field. Take advantage of this opportunity with the EVE VEGAN® certification.
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