By Hollie Spooner
If you made the decision to go vegan with your business at the wake of the century, you would have been shooting yourself in the foot. Good businesses answer to customer demands.
In 2005 when Donald Watson, the founder of veganism as we know it today, was breathing his last, there were 250,000 vegans in Britain and 2 million in the US. Such a number constituted a minute fraction of the population, and launching a vegan burger business would have been crazy.
Fourteen years later, the narrative has changed and we have to admit that going vegan with your business is investing in a gold mine. Here’s why.
1. Statistics don’t lie
The number of people snubbing your meat burger joint is increasing and more people are opting for the vegan burger. For example, a report on Reuters indicates that the top plant-based burger and sausage seller, Beyond Meat, predicts a double revenue increase in the current year, estimated at $210 million.
The number of vegans in the UK has risen from 250,000 in 2005 to 3.5 million in 2018 according to a survey conducted by Comparethemarket.com. According to Sentiment Media, a series of studies in the US has led to the estimation that there are 6.5 million vegans in the country, which is way up the 2 million in 2005.
Deductively, if your business is delivering plant products to your customer, you certainly stand a superior chance in today’s business world than you would have in 2005.
2. Veganism is already a culture
A considerable number of the world’s population has bought into the idea that a plant-based diet spares animals from torture, saves the environment from unnecessary exploitation and promotes health. This is enough reason to get a lot more people exploring and eventually buying into the idea. And big names are featuring in all this.
Forbes and The Economist have dubbed 2019 “the year of vegans”. This puts everyone on the alert that something great will be happening this year with regard to veganism. The big thing is that the choice of a plant-based diet is going mainstream. Take, for example, the move by the Los Angeles food district to start offering vegan food in schools, or the initiative of the European Commission to formalize the meaning of vegan and vegetarian in the legal context. All this can only mean that veganism is no longer the lifestyle of the minority but the conventional way of a considerable majority.
If the number of people deleting meat and animal products from their shopping list and replacing them with plant products is growing, you will be cutting into the vegan industry cake and taking a good piece of it in profits if your business goes vegan.
3. What sells is what is produced
The 3rd largest chain of supermarkets in the UK, Sainsbury’s has reported a rise in the sale of plant products and a decline in the sale of meat according to Plant Based News.
This has pushed the supermarket to place its vegan options next to the existing animal products.
Similarly, a report by Mintel in March 2018 reported a drop in the sale of dairy products and the decline was estimated to hit 11% by 2020.
If your business is focusing on a product that is declining in sales, the obvious conclusion is that it is going down to the drain.
Going vegan is the in thing. And no business in the food industry will thrive without giving the vegan warriors the space they are conquering in diet and lifestyle trends.