The health and wellness food consumption movement has shaken companies. With start-ups catering to the vegan consumer, big companies are stepping into the growing market. Vegan Society states that veganism in the UK has risen by 350% over the last 10 years with 42% of vegans being between the age of 15- 34.
Vegan Protein shake
Vega is one of the leading vegan protein shakes in America and now in the UK. Mintel reported that UK’s consumers spent 66 million euros on sports nutrition food and drink products in 2015. With the plant-based protein market on the rise, consumer spending is expected to rise within the next 10 years. Companies such as Protein World, PHD woman and My Protein are catering to vegan protein consumers. To compete with start-ups such as Innermost and Net Nutrition. Protein bar company and Think Thin, recently launched a line of plant-based protein products with the aim to tap into the market.
Animal protein substitutes
Impossible Food is one of the companies leading in creating substitute for animal-based foods. The start-up from Silicon Valley is known for creating vegan burgers that bleed. The company also offers other products such as vegan cheese and vegan tartar.
Investing in veganism
As the influence of veganism alters consumer’s habits, big companies are forced to evaluate if they are going to ride the wave or go against the current trend. Companies are either investing or pivoting products supplies to cater to the consciously-healthy consumer. Nestlé recently bought the organic food company Sweet Earth. The company’s products are 100% meat-free. The vegan industry is expected to be worth 5 billion by 2020. Canadian meat packing Maple Leaf Foods have bought U.S based vegan protein producer Light Life Foods. Maple Leaf plans to expand into the plant based food industry.