The global plant-based ingredient market has enjoyed record sales over many years and is expected to grow at 8.94% annually during the period 2019-2025. While in 2018, it was valued at 10.66 billion USD in revenue, it is anticipated to reach 27.98 billion by 2027.
Globally, consumers are increasingly looking for healthy, ethical, and cost-effective products with low environmental impact, which is driving the demand for vegan and vegetarian alternatives. More and more companies recognise the benefits of meeting the market’s growing need for a range of diverse, high-quality, animal-free products.
Consumers are also increasingly calling for transparency in labelling. They want to be able to identify vegan and vegetarian products quickly and confidently. Gütesiegel Monitor ranked V-Label as one of the three most trusted food labels in Germany in 2020. Labelling by independent organisations gives consumers greater confidence than labels produced by the manufacturer – in Germany alone, 60% believe that an environmental institution makes more consistent inspections than private labels.
Did you know that according to Euromonitor International, the plant-based market in Western Europe has doubled in size in the past decade alone, accounting for 38.5% of total global revenue?
While the global plant-based food market is expected to grow at a rate of 8.94%, the protein sector itself is going to accelerate by 18%, reaching the $28 billion threshold by 2025. Launch after launch of vegan start-ups supports the statistics already: they are focused on meeting the growing demand for vegan beef, fish, cheese, milk, yoghurt, eggs, pastries, vitamins, and supplements, each a booming niche itself. Moreover, niche products have made their way into traditional retail chains, and established food producers are introducing vegan and vegetarian lines.
Interestingly, this is just the beginning. According to ProVeg International, rising investments in tech innovation ensure that the taste, texture, and mouthfeel of these products will only continue to improve with further ingredient and processing advancements. As the most recognized vegan and vegetarian label in the food segment, having a V-Label means you benefit from this unprecedented market growth.
Cosmetics & Cleaning agents
Convenience, taking charge of one’s own health, and a louder call for cruelty-free beauty. Those are the three main reasons the global vegan cosmetics market size is projected to reach $20.8 billion by 2025, growing at a 6.3% rate, according to the Vegan Cosmetics Market Size, Share & Trends Analysis Report from 2018.
Europe holds a major share in the market, witnessing skyrocketing demand for products that have not been tested on animals. From skin care to deodorants to shampoos, more and more consumer segments are searching for keywords such as vegan when purchasing.
With vegan cosmetics still being more of a novelty, consumers are highly receptive to labelling and other signs proving their choice is vegan or vegetarian. Did you know 19% of people check if their toiletries are tested on animals, according to The Vegan Society? Get this feature of your product visible with V-Label and be their natural go-to!
Apparently, it’s not just personal care that is witnessing the rise of vegan and vegetarian alternatives – it’s household, too! Did you know the natural household cleaner industry, currently valued at $4.57 billion, is expected to double by 2025? The purchases of cleaning agents are driven by efficacy, longer-lasting protection, and clinical properties. Have your cleaning products stand out with the eye-catching V-Label.
A booming industry for years to come, vegan and cruelty-free fashion is already considered cool and luxurious. The global vegan women’s fashion market was valued at 396.3 billion USD in 2019 and is expected to grow at a 13.6% rate by 2027, according to Statista.com. The vegan leather market is the industry’s driving force, mainly due to tech advancements that perfect new materials and increase vegan leather’s lifespan. Instead of plastic-based leather, we are increasingly seeing more sustainable, natural fabrics from sources as diverse as pineapple leaves, fermented yeast, wine industry by-products, and mushrooms. Alternatives to wool and silk, made from cellulose fibres, are also being developed, as well as various up-cycled materials being upgraded into increasingly popular vegan activewear.
Last but not least, it’s not just about clothing, handbags, and shoes. Other non-food industries are also challenged and inspired to come up with vegan, cruelty-free products (books, jewelry, or candles). Being labelled as vegan and vegetarian is considered an added selling point and a point of difference. It also helps consumers cut through the noise and find safe, sustainable clothing on e-commerce sites or in retail stores.
From coffee shops to high-end restaurants, bistros, and pop-ups, the food service industry is nearly equal in size to food retailing. Over the past decade, consumers under age 40 have upped their fresh vegetable intake by 52%, according to Global Variability in Fruit and Vegetable Consumption, a study written with data from WHO World Health Surveys. In 2021 alone, over 500,000 people joined Veganuary, and cauliflower pizza, veggie burgers or meatless meatballs are considered a staple now. In addition, hospitality, a global, multi-trillion dollar industry, has seen a 123% rise in vegan-specific job roles over the past 12 months alone, according to The Vegan Society, showing an increasing number of traditional businesses seeking specialized skill sets in addition to changing their menu options.
But people don’t just eat vegan – they travel vegan, too. More than 500 accommodation facilities worldwide meet the requirements for being a “veggie hotel.” An ethical hotel is much more than a plant-based all-inclusive: hotels, guesthouses, or cruise ships are designing vegan experiences from rug to roof, with leather-free furniture, cleaned solely by products that have not been tested on animals.