We are pretty sure that most individuals in the US and the world would agree with the fact that having a plant based diet is the BEST way to stay healthy, or at least the best way to get healthy. Weather you have high blood pressure, or recently diagnosed with cancer, having a vegan diet improves your chances of having a better quality of life. So, for your overall healthy body veganism is king.
However, when it comes to the business world, most business owners who ARE NOT vegan (even some who are vegans), do not understand the vegan is good for your personal health, but also for your business success.
Let’s just talk about some numbers and maybe this will help you realize why we wrote this article.
- Veganism skyrockets by 600% in America to 6% of Population, according to Plant Based News Organization.
- The market for alternative meats will reach $5.2 billion by 2020.
- Another interesting fact is that plant-based milk sector will reach $16 billion by 2018.
- Nielsen for the Plant Based Foods Association (PBFA) and the Good Food Institute reported that Sales of plant-based food in the USA reached a $3.1 billion (8.1% Increased).
- About two years ago, The New Vegan Times did an interview on a recent product called, Impossible Burger. Now this product is being sold in 150 eateries in the US.
- Dairy alternatives have increased 40% in the last three years (plant-based dairy).
- Regular – cow’s milk sales have declined by 5% and steadily declining to 11% by the year 2020.
- More recently Mintel. Market Watch reports that Dean Foods, the largest supplier of dairy milk in the US, reported a reduction in income from $14.5 million. It is also worth saying that Elmhurst, one of the longest-running dairies on the US east coast, decided in 2017,“after 92 years, to cut its losses and switch to producing solely plant-based milks.”
- Needles to say that vegan cheese has taken the market by surprise. Estimated to be Just under $4 billion by 2024 (compound growth rate of 8% from 2016 to 2024, according to a report issue by the research firm Bharat Book.
- Shares in Cal-Maine Foods, an egg producer since 1969 in Jackson, Mississippi in the US, had a declined of 7% in its shares– the company reported its first annual loss in more than 10 years. Blamed was directly related to the growth in popularity of egg alternatives.
- Global meat substitutes market (which we reported in 2016 Edition of The New Vegan Times), is growing by 9% from 2015-2020 according to Allied Market Research.
- Medical institutes as well as Health Management organizations are telling patients that for a healthy life, one must follow a plant based diet. The New Vegan Times had an issued about three years ago in regards to a book written by Best Time Writer, Michael Gregor, MD (How Not To Die). Here he addresses the connection that exists between health and the daily foods you take. KEY word: Plant Based diet the best option!
RESISTANCE IS FUTILE
One critical sign of the new era is that agricultural businesses are getting, or shall we say moving into plant-based revolution “by buying or investing in plant-based brands”. Just take a closer look at who are the main buyers of vegan companies:
- In the USA, top meat producer Tyson Foods, invested in Beyond Meat (they initial stake was just 5%. Find out what it is today? We are pretty sure is beyond that level!
- A tremendous announcement when Campbell Soup Company abandonedthe Grocery Manufacturs Association to joined Plante-Based Foods Association. A pivotal point for this giant.
- Walmart recently wrote to its suppliers suggesting to create more plant-based products.
- Canada’s largest meat distributor Maple Leaf Foods bought popular plant-based brands Field Roastand Lightlife Foods.
- Nestle acquired Sweet Earth Foods(founded by a former Burger King board chairman).
- Dean Foods invested in a plant-based milk and yoghurt startup called Good Karma.
- Plant based cheese brand Daiya was acquired by Japanese pharmaceutical company Otsuka
- Danone, a multinational food company (specifically dairy products), acquired WhiteWave (new name: DanoneWave)
- Saputo, Canada’s largest dairy processor has been known for its intent to buy a plant-based milk company. Anybody knows who?
This same trend is happening in all other parts of the world:
Denmark Naturli Foods created a plant-based minced meat which has been taken on by the country’s largest retailer Dansk Supermarked Group.
“International finance group Rabobank said that recent growth in plant-based and clean meat should serve as a “wake-up call to the animal protein sector” and encouraged the meat industry to invest in alternative proteins. Rabobank also estimates that within five years alternative protein could represent a third of protein demand in the EU.” (according to a Forbes Magazine article Here is why you should turn your business vegan in 2018).
What about other business besides the Food Industry?
For years Vegan fashion has been telling the world about cloths, styles and fashion without hurting animals. They have set the sample for all of us since the early 80’s. Women have been slowly buying more and more from companies that invest in natural and cruelty free products. The trend remains that males are following the same path.
Automoviles -Luxury car manufacturers are listening to the demand for cruelty-free materials,–for example, Tesla removed animal-based leather
Bentley exploring alternative mTaterials to leather to cater for high-wealth ethical consumers.
Beauty brands are using less or removing animal products from their formulas.
Even airlines, like Virgin are dealing with alternative meals on their flights.
Weather you have a business that was founded 100 years ago, or a brand new business, it is critical that you think vegan from the start. From all of the above reasons just mentioned in this article, one can clearly ask: can my business ignored what the world is clearly embracing?
From agricultural to mechanical businesses, one can clearly see that vegan is good for ALL!