The following content is sponsored by The Very Good Food Company
What Investors Should Know about the Plant-Based Foods Market
Plant-based foods are gaining traction—and fast.
By 2030, the global plant-based food market is expected to reach $161.9 billion in value. That’s a 355% increase compared to 2021.
Interested in investing in this rapidly expanding industry? This graphic from The Very Good Food Company (VGFC) highlights what you should know on the future of the plant-based food market.
1. Consumers are Becoming More Health Conscious
As plant-based foods grow in popularity and more product options become available, consumers have started to become more selective about the types of products they’re willing to purchase.
For many consumers, health is a key consideration when making purchasing decisions. A global survey revealed that, out of 8,500 respondents, over 50% were vegan for health reasons.
But not just any plant-based product will cut it. Consumers are starting to hold businesses to a higher standard, with an expectation that plant-based products have high nutritional value, low salt content, and good quality protein.
2. Consumers are Becoming More Socially Conscious
Consumers are also becoming more educated on environmental issues, and how plant-based diets can help reduce greenhouse gas emissions. According to the same survey as above, almost two-thirds (64%) of respondents were vegan for environmental and sustainability reasons.
Some experts believe this figure will only increase, as the impacts of climate change become more apparent across the globe.