Within in the food industry, it’s hard to ignore the request in demand for vegan and plant based foods. From 2018 to 2019 alone, sales increased by 19% on veggie items and products in Denmark. In 2020 the vegan food market reached a value of about USD 15.4 billion globally. Additionally, the market is expected to grow at a compound annual growth rate of 9% in the forecast period of 2021-2026 and reach a value of approximately USD 26.1 billion by 2026. (source)
The vegan food market is driven by several overall key factors. Over the last few years, there has been a rise in awareness of the health benefits from following a vegan diet and how it affects your body and health positively. In addition, consumers are getting more conscious about what they eat, where it comes from and how it is processed. Which leads us on to the rising awareness about animal health and cruelty. Which also affects consumers’ increased motivation towards eating more plant based. In addition, an increase in the concern of the environment also seems to motivate consumers towards a more plant based lifestyle. It has gradually become clear how meat production contributes to the greenhouse effect. Overall, these societal tendencies seem to grow more towards the consciousness of the consumers and permanently affect consumer behavior long term.
Stereotypes about the vegan food market
When talking about the overall tendencies and stereotypes in the plant based food market. We still see some pretty dominant misconceptions which seems to retain consumers from switching to a more vegan based diet. Especially generations as baby-boomers tend to have less positive associations. Vegetarian, vegan and plant based supplements get associated with, not getting full, lack of natural protein and being time demanding. The change of habits seems unmanageable. And gets associated with compromising. The lack of awareness is also an opportunity for growth. By illuminating these misconceptions in a marketing perspective.
Habits are changing
Younger generations highly shape the demand for vegan and plant based foods. Whereas 54% of generation Z avoid meat or other animal based products. Younger generations are increasingly looking for food options that are healthier and more ethical. These features they associate with plant based and vegan options. Long term, the influence of the younger generations in the plant based movement is likely to continue and strengthen. As they grow older into adulthood. Continuously when they grow older and their income increases. This will be seen as an even greater market potential. Whereas the likelihood of them influencing and raising a whole new generation of kids in terms of a plant based or vegan lifestyle will arise.
Fooducer.com to promote the vegan food market
At Fooducer.com we wish to be a game-changing player within the vegan foodmarket. When you want to find and reach new markets and quality suppliers. Fooducer’s mission is to build the leading Nordic and European market hub for vegan food trade. Fooducer is a B2B marketplace built on a web platform with integrated product recommendations. For cross-border plant-based buyers in Europe. Read more about Fooducer.com here
We are here to help!
ProductHubs helps break down the high market barriers in the green food market industry and creates new market opportunities. Vise versa buyers also get a unique platform of only relevant new quality suppliers! We create easy access to;
- Product information & declaration
- Direct contact and negotiation
- Availability and exposure is all a part of the platform strategy
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