The Times view on falling demand for vegan food: Fading Fad (2024)

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The Times view on falling demand for vegan food: Fading Fad? ›

In recent years, demand for vegan foodstuffs has collapsed. Turned off by comparatively higher prices and concerns about the unhealthiness of ultra-processed vegan substitutes, it seems the average consumer who may have experimented with veganism is now no longer willing to put their money where their mouth once was.

The latest numbers from 2023, meanwhile, suggest that between 1-4 percent of Americans are vegan. That's a pretty big margin of error between the two polls. It implies that over the last nine years, the share of vegans in America has either increased by 400 percent or, alternatively, hasn't increased at all.

Sales for vegan products have fallen into decline in the last year as meat makes its way back on the menu, according to the latest data. Plant-based vegan brand Beyond Meat revealed last week its revenues had plummeted by 9%, leading it to cut a fifth of its workforce.

Without a doubt, the vegan lifestyle has become one of the trendiest. In America the number of vegans increased by 600% between 2014 and 2017, and in the UK 1 in 3 people have reduced their meat consumption.

The annual Connecting the Dots 2024 report suggests that growing eco-fatigue and the cost-of-living crisis are among the top reasons for a decline in veganism and sustainability.

The number who say they're interested in vegetarian food is down 34% since Q1 2020, with interest in vegan food declining 28% in the same time frame. In isolation, these figures may be cause for concern, but there's still room for optimism.

Today, the UN says meat and dairy (farmed livestock) accounts for 11.2% of manmade greenhouse gas emissions. But, if we all went vegan, scientists believe the world's food-related emissions might drop by 68% within 15 years, limiting global warming.

The over-50s, known for pushing the meat-and-two-veg diet, are increasingly eating meat only a few times a week now, whether they identify as 'flexitarians' or not. The vegan mission isn't going anywhere: it's just the labels that might be on their way out.

Two industry reports agree that vegan food, particularly plant-based seafood and simplified meat alternatives, will continue to gain favor with consumers in 2024.

Potential Nutrient Deficiencies — A vegan diet may lack certain essential nutrients such as vitamin B12, iron, calcium, omega-3 fatty acids, and protein. It's crucial to carefully plan your diet to ensure you get all necessary nutrients.

Is vegetarianism on the decline? ›

The survey finds that meatless dietary choices have fallen to their lowest popularity since the late 1990s, with only 4% of Americans identifying as vegetarian in 2023, and just 1% placing themselves in the vegan category.

Whichever survey you look at, there is a huge increase in the demand for plant-based and vegan foods: The global food market provides a good indication of how veganism is exploding around the world. In 2021, the global vegan food market was close to 16 billion US dollars.

As per the reports of PETA, by 2050, more than 25% of the animal meat market is expected to be the vegan market, that is, the plant-based market. People have also noticed an increase in the vegetarian food menu in restaurants, which indicates a rising inclination towards a vegan diet.

Chef's Pencil also released veganism popularity reports in 2020 and 2021. Compared to its previous studies, Chef's Pencil's analysis of the data showed a marked decline for vegan-related search terms in Q1 of 2022 compared to Q1 of 2021 and Q1 of 2020. The decline, the report indicated, started in 2021.

One of the primary reasons people quit veganism is health concerns. While veganism can be a healthy and sustainable diet when done correctly. Some individuals may experience inadequate nutrition and deficiencies due to a lack of knowledge about plant-based sources of essential nutrients.

Preventing the exploitation of animals is not the only reason for becoming vegan, but for many it remains the key factor in their decision to go vegan and stay vegan. Having emotional attachments with animals may form part of that reason, while many believe that all sentient creatures have a right to life and freedom.

In recent years, the vegan food industry has become one of the fastest growing industries across North America.

Animal-Derived Meat Will Soon Meet Its Maker

More than 25% of the meat market is expected to be plant-based by 2050—and this is a conservative estimate. According to a report by BofA Securities, the vegan meat market will be valued at over $40 billion by the end of 2025, nearly doubling from 2020.

They care for animals and don't want to see them suffer. Others have become more aware of the impact of animal-based diets on the environment. This makes them more willing to forego meat to reduce carbon emissions and combat climate change. However, most people who are turning to veganism do it for health reasons.

An estimated 2.5 million UK adults are following a vegan diet at the start of 2024, which is 4.7% of the population.