According to Allied Research, the vegan food market is expected to reach $31.4 billion by 2026, growing 10.5% from 2019 to 2026. However, veganism goes far beyond just the food industry, and includes industries like fashion, cosmetics, and more.
Consumers are taking notice. According to a 2019 study by ipsos, nearly ten million people (or about 3% of the population) has adoped a plant-based lifestyle, a massive increase from 290,000 just fifteen years earlier. More recent, post-pandemic stats paint an even rosier picture for plant-based lifestyles. According to PlantProteins.co, up to 6% of U.S. consumers now identify as vegan, a 500% increase from 2014.