The global plant-based market will grow from US $30 billion in 2021 to a staggering US$160 billion by 2030, making up to 7.7% of the global protein market by 2030 according to Bloomberg Intelligence.
According to the new report, industry giants including Beyond Meat, Impossible Foods and Oatly are driving an increase in plant-based food options as they partner with restaurants and major chains. More traditional, established competitors, like Kellogg and Nestlé, are looking to gain an edge by ramping up their distribution of plant-based products, and producing promotional campaigns that showcase their variety of options.
Abillion, a growing social e-commerce platform designed to help people and businesses around the world become more sustainable, has released the Top 10 plant-based trends for 2022, based on over one million reviews of vegan and sustainable products, and identified by abillion’s data scientists.
In the food industry:
- Vegan egg alternatives will rise in popularity as more liquid products enter the market.
- Oat milk will supersede dairy with both color and variety—we’ll see an increasing number of flavors in 2022.
- Major fast-food chains offer more plant-based options as the adoption of plant-based food increases around the world.
- Alternative seafood has vast growth potential as brands explore its range and variety.
- The growing number of eco-conscious dog owners opting for vegan pet food is surging, helping to reduce one of the biggest contributors to meat consumption.
- Advances in dairy alternatives have fueled innovation in the vegan milk chocolate market. Major chocolatiers and local brands are capitalizing on this opportunity.
In beauty and fashion:
- The rise in solid skincare products will help the beauty industry transition towards even greater sustainability.
- Haircare follows skincare to become more sustainable. Vegan hair serums, coloring and styling products are becoming mainstream.
- The growth of hemp and CBD products is set to disrupt the beauty industry as demand for this sustainable ingredient increases.
- Menswear finally embraces vegan leather with natural leather alternatives.