Vegan Meat Sales Will Grow to Over $5 Billion by 2020
Vegan meats have taken off in the last few years, charming even the most stubborn carnivorous palates. This expansion has not gone unrecognized, as a marketing report came out recently predicting vegan meat sales to reach $5.17 billion (USD) by the year 2020. This is a significant jump from 2015’s estimated $3.80 billion.
Just in the United States, companies such as Beyond Meat and Amy’s are credited for the increase in the public’s interest and consumption of vegan meat alternatives. The tenacity of each companies’ endeavors this past year is incredibly inspiring. Beyond Meat poached a former McDonald’s CEO for its board and Amy’s opened the first of (hopefully) many all-vegetarian drive-thru restaurants. The report’s authors take note of the momentum of vegan meat popularity, as the press release states:
“The growing demand for meat-free food products and increasing health concerns are expected to drive the market for meat substitutes globally. In addition to this, key factors such as increase in adoption rate of vegan & vegetarian diet and increasing health concerns for pets, increasing environmental issues, and presence of modernized retail chain in emerging markets are projected to support the growth in the meat substitutes market in the forthcoming years.”
It should not come as any suprise to those who are already vegan or vegetarian that more people are becoming aware of the ethical, environmental, and health reasons to ditch animal products. But it is thrilling to see the public’s shift take place before our very eyes.
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