Packaged Vegan Foods Market Set to Grow Rapidly

Analysts estimate the packaged vegan foods market will grow 11% annually

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.

(c)2018 Plant Based News LTD. All Rights Reserved.
Reuse this content
PBN Contributor:

Kaden is a passionate animal rights activist, writer, graphic designer and cyclist.

Join the conversation

Disclaimer: The opinions expressed in this article are prepared in the author's capacity and do not necessarily reflect the views and opinions of Plant Based News itself. 

Since you're here...
Plant Based News is a FREE service that receives millions of views each week on YoutubeFacebookInstagramTwitterour weekly newsletter and this website. This takes a lot of our personal time, money and hard work. But we do it because we KNOW it makes a difference. If those following our reporting helped by contributing, we could do even more. Please consider supporting us so we can create further awareness about animal rights, environmentalism, ethical consumerism and the plant-based lifestyle. Not a false narrative - but information that empowers people to make better choices.

Support Plant Based News

It's World Vegan Day