Teams are Launching New Plant-Based Products and Services as the Appeal of Veganism Expands
Veganism has gone from fringe to fad to on fire—and the business world is hungry for more. The vegan food industry recorded 20 percent year-over-year growth last year in the United States, with sales topping US$3.3 billion, according to the Plant Based Foods Association. In China, the vegan market is on pace to increase 17 percent between 2015 and 2020. With more people embracing a plant-based lifestyle, and with the full-throated support of global celebrities such as Beyoncé́ and Jay-Z, retailers and manufacturers are rolling out the red carpet to satisfy demand.