Vegan Industry Insights

It’s the July edition of Vegan Insights by the Vegan Trademark. There has been lots of positive news this month in regard to the growing opportunities available in the vegan economy. But there are still challenges we need to face together, including the proposals to bring in even more restrictions around the labelling of vegan dairy alternatives.

At the Vegan Trademark, we strive to support brands making vegan products, and that is why this month we asked our LinkedIn audience what they saw as the biggest challenges for the vegan industry. 55% of you answered that consumer education was one of the biggest challenges you face. One of the aims of our charity The Vegan Society is to help make veganism more accessible to everyone; in the coming months you will see more educational pieces from us across social media and through our campaigns. You can take a look at some of the work our charity does about raising awareness for veganism on our website here.

Keep reading to see what’s happening this month:

Vegan economy is still on the rise

Both the Vegan Cosmetics and Food markets have seen positive growth recently, with even more predicted in the coming years.

Despite headlines in the media that the vegan industry should be worried, a new report shows that the vegan food market is growing at 6.4% CAGR to hit $36.3 billion by 2030. This growth comes from an already impressive market valued at $19.7 billion in 2020.

As supermarkets and other retail stores are embracing these new vegan options, offline sales soared, taking up 80.9% of the market share. This goes to show the importance for brands to find the right distributors for their products to ensure their success.

Whilst the interest in vegan products is growing across the globe, Europe has the largest vegan market due to increased awareness among consumers, high disposable income, a surge in demand for functional food and a desire for a healthy and active lifestyle among the European population.

Europe has also seen even more development in the Vegan Beauty market. The latest report shows that the global Vegan Cosmetics market is anticipated to cross USD 24 billion in size, increasing from USD 17.39 billion in 2022. That’s a 6.31% CAGR between 2023-2028. European consumers are growing a particular interest in animal welfare and the environmental impact of traditional cosmetics, leading to a rising demand for vegan alternatives that do not include animal-derived ingredients and are not tested on animals; this has shown particular importance with UK shoppers. The Vegan Trademark standards include the exclusion of animal testing, so your customers can be reassured it meets their own ethical standards.

Gen Z are the demographic largely driving this growth. So, make sure you are keeping up to date with the trends catching the eyes of this youthful demographic.

Petition against Trading Standards new draft guidelines

Draft guidelines from Trading Standards have emerged, outlining their intent to restrict the use of certain language practices by vegan brands when referring to dairy terms. The proposed changes would create substantial challenges for the vegan industry, which has been a driving force in generating remarkable revenue for the UK economy, amounting to hundreds of millions of pounds each year.

Under these guidelines, brands would be restricted from using terms such as ‘mylk’, ‘sheese’ and ‘b+tter’. There is no credible evidence to support the claim that consumers are confused by this terminology; therefore, implementing these guidelines would serve no purpose other than adding unnecessary costs and barriers to making accessible vegan products.

We are supporting Palm PRs petition to stop these guidelines from being imposed. The Vegan Society’s CEO Steve Hamon says: “There is no evidence that consumers are confused when buying plant-based dairy alternatives, and to argue that terms such as ‘not milk’ and ‘sheese’ are confusing and should be banned is ridiculous. This proposed measure is based on outdated regulations and appears to be driven solely by commercial interests rather than consumer interests. Instead, it would actually limit consumer choice and work to suppress innovation in the green plant-based industry, where the UK should be a world leader. Plant-based foods emit half the amount of greenhouse gases as animal-based foods, and we urgently need to shift diets to help tackle climate change. Trading Standards should drop this proposal, which represents a huge step backwards for the UK.”

Sign the petition here.

Say hello! – Vegan Trademark Events

We are embracing the English summer over the next month and getting outside for two festival events.

We are so excited to be at Vegan Campout, taking place this weekend, from 28 to 31 July, at Bicester Heritage, Oxfordshire! Join Andrea Rymer on Saturday at 12.45pm as she discusses “Raising children on a vegan diet”. Then, on Sunday at 3pm, Laura Chepner will enlighten us with her insights on the “Plant-based transition of education”. Following their presentations, both speakers will be available at The Vegan Society stall in the main vendor area to answer any questions you may have. Tickets are still available here.

VEG 1 – our affordable vegan supplement brand – will be headline sponsors of Vegan Kids Festival, 11-13 August, Woodhouse Park Activity Centre, Bristol. We will be co-hosting a colouring competition over the weekend, as well as being available to answer all your questions on vegan supplementation. Find out more and buy tickets here.

More events will be coming up later on in the year, so keep an eye out on our socials for where you can stop by for a chat with the team!

Vegan Trademark News

Check out what some of our trademark holders have been celebrating this month:

Over 75 products registered with the Vegan Society’s Vegan Trademark have taken home prizes at the annual Free From Awards – read more here.

Galaxy has expanded its vegan range with a new Vegan Trademark certified flavour, Galaxy Vegan Salted Caramel Chocolate Bar – read more here.

Make sure you are subscribed to keep up to date with the latest vegan news! Want to make sure your vegan products are accessible to consumers? Shout about your credentials with confidence with the Vegan Trademark. Visit our website for more information.