Are vegan businesses the future?

Animal-based businesses are pushed to the side to make way for a new generation of vegans

By Shannon Weir

Veganism takes the nation by storm, with popular social movements such as Veganuary encouraging a global shift to plant-based alternatives. To keep up with the public demand, many food chain giants such as, Greggs, Frankie & Benny’s and even McDonald’s, have began offering vegan options. But not only has the movement encouraged more plant-based choices, but also a dramatic increase in fully vegan businesses sprouting up all over the UK.

According to The Vegan Society, the UK plant-based market was worth £443 million in 2018 and its value has continued to increase after 250,000 people signed up to Veganuary this year. As a result, many businesses have converted to veganism to reap the benefits of the growing plant-based market.

One argument against creating a vegan business is the fear that it will only attract a niche vegan market, which could result in a business missing out on sales from the meat eating majority. However, a staggering 92% of plant-based meals are bought by non-vegans and a survey conducted by Opinion Matters showed that over half of Brits have adopted vegan habits such as checking for cruelty-free labels on household products.

This proves that public attitudes towards veganism are generally pretty positive and therefore meat-eaters are unlikely to avoid a business because of its vegan status. Alternatively, by selling animal-based products you are cutting out a growing number of potential plant-based customers.

Even the animal-based industry is starting to wise-up and see the economic benefits of turning their businesses vegan, dairy company Danone has recently invested $60 million in dairy-free products and Irish sausage brand Richmond have announced that they are launching a vegan sausage range aimed at their many ‘flexitarian’ consumers.

Veganism is undoubtedly going mainstream and now seems like the perfect time to tap into a growing market of cruelty-free consumers.