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 label in the food segment, having a V-Label means you benefit from this unprecedented market growth.