Packaged Vegan Foods Market Set to Grow Rapidly

Analysts estimate the packaged vegan foods market will grow 11% annually
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A recent report by Technavio forecasted the packaged vegan foods market to grow approximately 11% per year
between 2016-2020. According to lead analyst Manjunath Reddy, “a new wave of
consumers, especially millennials… prefer vegan foods owing to their concern
toward animal welfare and environment-friendly food products”. He went on to
explain how veganism is growing in popularity; for example, in the UK, there are now 350% more vegans compared to a decade ago.

The study assessed multiple major factors
for an expected rise in vegan product sales. The main drivers included the health benefits of a vegan diet, as well as the ethical and environmental issues related to animal agriculture. Animal agriculture is responsible for as much as 51% of greenhouse gas emissions. Furthermore, fourteen of the fifteen leading causes of have been scientifically
linked to animal product consumption
. Considering the American Dietetics
Association concludes that a vegan diet is“healthful” and “nutritionally adequate", it seems unethical to cause suffering and death to animals if it is
unnecessary.