Vegan products total a quarter of food launches in 2019

From cityam.com

Almost a quarter of all new food products to launch in the UK last year were vegan, as companies rush to cash in on the growing number of “flexitarians”, according to the latest research.
The number of people who have reduced or limited the amount of meat they eat has risen from 28 per cent in 2017 to 39 per cent in 2019, although 88 per cent of Brits continue to eat meat.

Of the new food products launched last year, 23 per cent were labelled as vegan, compared to 17 per cent in 2018.

Greggs, Burger King, KFC and Subway are among the fast food chains to recently launch vegan or vegetarian substitutes to cater to the expanding market.
Sales of meat-free foods have grown 40 per cent since 2014, rising from £582m to an estimated £816m last year. Sales are expected to be in excess of £1.1bn by 2024, according to research by Mintel.

However, despite the growth in the number of consumers reducing their meat intake, just one per cent of the UK population follows a strict vegan diet.
Mintel food and drink analyst Kate Vlietstra said: “The rising popularity of flexitarian diets has helped to drive demand for meat-free products.
“Many consumers perceive that plant-based foods are a healthier option, and this notion is the key driver behind the reduction in meat consumption in recent years.

“As the meat-free market becomes increasingly crowded, brands will need to find more ways to distinguish themselves from their competitors – it is no longer enough to just be meat-free.

“Companies will need to be transparent about the healthiness of their products, and also address the quality and quantity of nutrients to win over the discerning consumer.”

https://www.cityam.com/vegan-products-total-a-quarter-of-food-launches-in-2019/