{"id":120587,"date":"2024-03-13T16:12:10","date_gmt":"2024-03-13T15:12:10","guid":{"rendered":"https:\/\/www.veganok.com\/en\/?p=120587"},"modified":"2024-03-13T16:12:10","modified_gmt":"2024-03-13T15:12:10","slug":"the-vegan-food-industry-continues-to-grow-valued-at-92-billion-by-2027","status":"publish","type":"post","link":"https:\/\/www.veganok.com\/en\/the-vegan-food-industry-continues-to-grow-valued-at-92-billion-by-2027\/","title":{"rendered":"The vegan food industry continues to grow, valued at $92 billion by 2027"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The <\/span><b>vegan food industry&#8217;s boom<\/b><span style=\"font-weight: 400\"> continues: <\/span><i><span style=\"font-weight: 400\">Research and Markets<\/span><\/i><span style=\"font-weight: 400\">&#8216; latest forecasts predict that by 2027, it will reach a valuation of approximately <\/span><b>$92 billion<\/b><span style=\"font-weight: 400\">. Encouraging data highlights how the sector will grow annually by about 18.1% over the next four years, confirming the growing interest among people in vegan alternatives to animal-derived products and <\/span><b>more conscious purchasing habits<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<h3>The growth of the vegan food industry: but what are the factors?<\/h3>\n<p><i><span style=\"font-weight: 400\">Research and Markets<\/span><\/i><span style=\"font-weight: 400\"> analysts suggest that interest in vegan food is driven by various reasons, from the health benefits of plant-based diets to the increasing support from the scientific community for <\/span><b>a diet free of animal-derived foods<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Also, the desire to <\/span><b>reduce the risk of zoonotic diseases<\/b><span style=\"font-weight: 400\"> and the ability to feed more people with fewer resources are factors affecting consumer choices. &#8220;<\/span><b>People want to reduce the negative effects of the food system on the environment<\/b><span style=\"font-weight: 400\"> [\u2026] by producing meat from plants, fermentation, or cell cultivation,&#8221; reads the report, emphasizing the crucial link <\/span><b>between choosing vegan and focusing on environmental and animal welfare<\/b><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">&#8220;<\/span><b>Vegan diets are the future of the food industry<\/b><span style=\"font-weight: 400\">, just as renewable energy sources are the future of the energy industry,&#8221; the report states. &#8220;Vegan foods represent an opportunity to achieve net-zero emissions. However, more funding and research and development are necessary.&#8221;<\/span><\/p>\n<h3>Vegan food on a global scale<\/h3>\n<p><span style=\"font-weight: 400\">Since 2021, the report has detected even more significant growth in the sector, and many signs indicate that we will witness a <\/span><b>real wave of new vegan products on a global scale<\/b><span style=\"font-weight: 400\"> in these years. &#8220;Each year, innovations emerge in the vegan sector: the path is set for a global transition towards a much fairer, safer, and sustainable food system.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400\">In the United States alone, the vegan market in 2021 <\/span><b>grew three times faster than total food sales<\/b><span style=\"font-weight: 400\">, as detected by the non-profit organization Good Food Institute (GFI). Retail sales data from SPINS, released on March 22, 2022, shows that sales of plant-based food products directly replacing animal products <\/span><b>grew by 6% last year and by 54% in 3 years<\/b><span style=\"font-weight: 400\">, reaching $7.4 billion. Moreover, over the last three years, plant-based foods have outpaced total food sales in both dollar and unit sales.<\/span><\/p>\n<h3>Vegan meat and fish are increasingly interesting to consumers<\/h3>\n<p><i><span style=\"font-weight: 400\">Research and Markets<\/span><\/i><span style=\"font-weight: 400\">&#8216; report also notes that <\/span><b>dollar sales of plant-based meat and fish have grown by 74% since 2018<\/b><span style=\"font-weight: 400\">, reaching well over $1.4 billion. &#8220;The plant-based meat market today, in some ways, resembles the plant-based milk market when it was in its initial stages.&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400\">Speaking of plant milk, in the USA, it currently represents <\/span><b>16% of all retail milk sales<\/b><span style=\"font-weight: 400\">. The study states that with continuous innovation, the vegan meat category has the potential to gain a similar market share of the total meat market, potentially boasting a growth of 14 percentage points for a value of $16 billion.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the latest forecasts by Research and Markets, the vegan food industry is expected to be valued at around $92 billion by 2027.<\/p>\n","protected":false},"author":2,"featured_media":120589,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[],"class_list":["post-120587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The vegan food industry continues to grow, valued at 92...<\/title>\n<meta name=\"description\" content=\"According to the latest forecasts by Research and Markets, the vegan food industry is expected to be valued at around $92 billion by 2027.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.veganok.com\/en\/the-vegan-food-industry-continues-to-grow-valued-at-92-billion-by-2027\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The vegan food industry continues to grow, valued at 92...\" \/>\n<meta property=\"og:description\" content=\"According to the latest forecasts by Research and Markets, the vegan food industry is expected to be valued at around $92 billion by 2027.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.veganok.com\/en\/the-vegan-food-industry-continues-to-grow-valued-at-92-billion-by-2027\/\" \/>\n<meta property=\"og:site_name\" content=\"VEGANOK - 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