How to invest in veganism
Many food products are naturally friendly to vegans, like vegetables, which means the vegan market is already large. The global vegan and vegetarian market is worth over $50 billion, according to Euromonitor, and sales of vegan alternatives to meat reached $19.5 billion in 2019.
Separate figures from US management consulting firm AT Kearney predicts sales of plant-based meat alternatives will grow annually by 20 per cent to 30 per cent in the coming years. The global meat market is thought to be worth $1,000 billion, meaning veganism still represents only a fraction of the market, but this gives the market plenty of headroom to grow.
However, there is an expectation that today’s plant-based meat alternatives will only be the number one alternative to meat for a few years, with cultured meat – currently in its infancy – expected to quickly overtake plant-based alternatives as technology and acceptance develops.