Plant-based food items keep drawing much interest from customers. Since the year 2014, the nonprofit Veganuary has supported over a million individuals from 192 nations who have followed a fully plant-based food eating pattern each January. The not-for-profit organization said that 1,200 vegan items were introduced to the market for the 2020 Veganuary event.
The greater interest in vegan food does not stem from only that campaign lasting throughout January. The COVID-19 epidemic has contributed to that trend towards plant-based product consumption patterns. As per the market research firm Nielson’s data, the increase of sales in the plant-based meat segment was among the highest from January to September 2020.
People stockpiled food due to the epidemic, and while that contributed to the greater sales, the industry has been seeing consistent growth in the last few years. A few of the largest food company portfolios include plant-based items. Established food industry players are making products to take advantage of the vegan trend. Meat alternative and plant protein sales are forecast to go up to $85 billion by 2030, as per the investment company UBS. The revenue from sales in the aforementioned category is about $1 billion, so it would be a big leap to hit the above figure in 2030.
Several customers deem plant-based goods healthier options than other types of food items. In DuPont Nutrition & Health’s study from 2018, 52% of those who consumed greater quantities of plant-based items stated that it made them feel healthier. Meat alternatives have come to be known as cleaner, more easily available options for companies and customers during the epidemic period. Processing speed declines, concerns over safeguarding workers, plus possible meat scarcities due to import difficulties and factory closures, made customers believe that the industry has to prioritize meatless food items.
Some promotional campaigns have encouraged customers to change their ways of eating and drinking before Veganuary did. Endeavors such as Sober October and Dry January have challenged individuals to reduce alcohol use, plus encouraged the alcohol industry to reconsider its segment. Many major industry players have included alcohol-free drinks in their product lines for customers.
Anyhow, it does not require a month-long event to attract people to vegan food eating patterns. Even without the above-mentioned, the alternative meat sector is poised to redefine its image through plant-based substitutes and other alternatives.