“Vegan businesses” probably wasn’t a recognizable term even five years ago, but that’s changed. With more information becoming available on the environmental, health, humane, and now economic reasons for going vegan, businesses are paying attention to this growing movement, and profiting, too. Here are the top three industries that benefit from making the switch.
Plant-based burgers are a must, both in the grocery store and at restaurants, thanks to the success of Beyond Meat and Impossible Foods, who both report valuations in the billions.
There are also many alternatives for dairy, from nut and plant-based mylks to faux cheez shreds. In 2019, Starbucks began offering beverages made from plant-based mylks.
Egg alternatives are coming, and there’s really no end to the amount of food products possible with plants.
Anyone who’s concerned about the livelihood of cattle ranchers or dairy farmers can look to Miyoko’s Creamery, which partnered with dairy farmers in California to supply other crops like potatoes.
In 2019, almost 70 major apparel brands committed to going fur-free. Not only that, the artificial fur and leather markets are rising.
While there isn’t a go-to solution for leather like there is for burger patties yet, brands are creating and sourcing leather substitutes made of linoleum, pineapple, palm, teak, corn, coffee, tea, grass, coconut water, wine, apples, mushrooms, cactus, Cartina paper, and even SCOBY. The faux leather market is expected to reach up to $89.6 billion by 2025. And this isn’t limited to clothing; automotive brands are already using non-leather car interiors, and the interior design industry is also paying attention.
More brands are offering alternatives to down jackets in the winter, and with more awareness, wool and cashmere will soon be a thing of the past.
With video footage and streaming networks at our fingertips, there’s now little incentive to frequent zoos, aquariums, and circuses using animals for entertainment.
Cruises, festivals, events, and tours are offering more vegan-friendly or exclusive experiences. Vegan spas, resorts, hotels, and even Airbnb listings are on the rise.
Intrepid Travel piloted its first vegan food tour in India in 2018, and hoteliers around the world are committing to using zero animal products in their rooms and on their menus.
Businesses might use “going vegan” to market themselves and attract new customers, but even if they don’t fully comprehend the benefits for the animals, health, and the environment, it’s a big win for all.
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