The global plant-based ingredient market has enjoyed record sales over many years and is expected to grow at 8.94% annually during the period 2019-2025. While in 2018, it was valued at 10.66 billion USD in revenue, it is anticipated to reach 27.98 billion by 2027.
Globally, consumers are increasingly looking for healthy, ethical, and cost-effective products with low environmental impact, which is driving the demand for vegan and vegetarian alternatives. More and more companies recognise the benefits of meeting the market’s growing need for a range of diverse, high-quality, animal-free products.
Consumers are also increasingly calling for transparency in labelling. They want to be able to identify vegan and vegetarian products quickly and confidently. Gütesiegel Monitor ranked V-Label as one of the three most trusted food labels in Germany in 2020. Labelling by independent organisations gives consumers greater confidence than labels produced by the manufacturer – in Germany alone, 60% believe that an environmental institution makes more consistent inspections than private labels.
A booming industry for years to come, vegan and cruelty-free fashion is already considered cool and luxurious. The global vegan women’s fashion market was valued at 396.3 billion USD in 2019 and is expected to grow at a 13.6% rate by 2027, according to Statista.com. The vegan leather market is the industry’s driving force, mainly […]
From coffee shops to high-end restaurants, bistros, and pop-ups, the food service industry is nearly equal in size to food retailing. Over the past decade, consumers under age 40 have upped their fresh vegetable intake by 52%, according to Global Variability in Fruit and Vegetable Consumption, a study written with data from WHO World Health […]
Convenience, taking charge of one’s own health, and a louder call for cruelty-free beauty. Those are the three main reasons the global vegan cosmetics market size is projected to reach $20.8 billion by 2025, growing at a 6.3% rate, according to the Vegan Cosmetics Market Size, Share & Trends Analysis Report from 2018. Europe holds […]
Did you know that according to Euromonitor International, the plant-based market in Western Europe has doubled in size in the past decade alone, accounting for 38.5% of total global revenue? While the global plant-based food market is expected to grow at a rate of 8.94%, the protein sector itself is going to accelerate by 18%, […]