The Vegan And Vegetarian Market Will Be Worth $5 Billion By 2020.
How much is vegan industry worth?
Veganism is on the rise, that much is undeniable. But the rate the plant-based meat market is growing is exponential. Within the next five years, it is estimated that the current market value of $4.3 billion will almost double, to be worth around $8.3 billion.
How big is the vegetarian food market?
The global vegan food market size was valued at USD 12.69 billion in 2018 and is projected to expand at a CAGR of 9.6% from 2019 to 2025.
|Market representation||Revenue in USD million and CAGR from 2019 to 2025|
How much is the plant-based industry worth?
The retail market for plant-based foods is worth $7 billion, up from $5.5 billion in 2019. Plant-based food dollar sales grew 27 percent in the past year.
What percentage of the world is vegetarian 2020?
But what percentage of the world is vegetarian? It’s estimated that around 8% of the world population identify themselves as vegetarian. Can you guess what is the most vegetarian country? If you guessed India, you’d be right because a full 31% of India’s population is vegetarian!
Who is most likely to be vegan?
Vegans are most likely to be females under the age of 35. When did you become vegan? 78% of vegans went vegan between the ages of 16 and 34, with 52% between the ages of 16 and 24. The average (mean) age for turning vegan is 24.1, although the most frequent ages are 19, 20 and 21.
How many humans are vegetarian?
According to the ‘Vegetarianism in America’ study published by Vegetarian Times Magazine, the percentage of vegans in the US is rising fast. 7.3 million Americans are vegetarians. Right now, there are about 9.7 million people in the US following a vegetarian-based diet.
What is the demand for plant based meat?
Worldwide plant based meat market was US$ 5.6 Billion in 2020 and will grow with a double-digit CAGR of 15% during the forecast years of 2020-2027 to reach US$ 14.9 Billion by 2027.
Is plant-based industry growing?
The plant-based food market was valued at $29.4 billion in 2020. This means if BI’s predictions are correct, the market will soar by 451 percent. Major plant-based meat and dairy brands like Beyond Meat, Impossible Foods, and Oatly are driving some of this growth.
Is plant-based meat growing?
“According to the research report, the global Plant-Based Meat Market was estimated at USD 3.77 Billion in 2019 and is expected to reach USD 9.43 Billion by 2026. The global Plant-Based Meat Market is expected to grow at a compound annual growth rate (CAGR) of 14% from 2019 to 2026”.
Why plant-based meat is better?
The answer is yes, according to new research funded by the U.S. National Institutes of Health. It found the imitation meats to be a good source of fiber, folate and iron while containing less saturated fat than ground beef.