How veganism grew to a multi-billion dollar industry

Written by: Alejandro Pineda Catalan

We learn and adapt better habits and healthier lifestyles as the world evolves. While evidence suggests that veganism has existed for thousands of years, we have seen the vegan diet experience its largest commercial uptrend within the last decade. This trend could have resulted from increased communication, which allowed people to learn the possible health benefits of using this diet.

Over the decade, veganism became extremely popular. The Vegan Society charity organization helped much of this success. This charity was formed in November 1944 and held its first meeting with Donald Watson’s help. Watson and five other members were seen as pioneers and coined the term “vegan” and what that means for us today. Viva.org defines veganism as not eating, wearing, or using anything from animals – land or water. This lifestyle also includes not committing any form of animal exploitation and cruelty. Foods not eaten by those who practice a vegan diet are red meat, milk, cheese, fish, eggs, honey, and byproducts such as beeswax. 

The vegan industry in 2021 generated 26.16 billion dollars in revenue and projects to triple those earnings by 2028. Profits like this are no surprise when we have seen various environmental incentives and the health benefits of obtaining a vegan diet. While veganism formerly began when the world was at war, adapting a diet that substitutes animal products wasn’t as cost-efficient as it is today. Technology has made it easier to participate in a vegan diet or enjoy vegan products for the experience. Gen Z and millennials contribute directly to those staggering profits in the industry.

As the demand for healthier food becomes evident, food chains, supermarkets, and local restaurants are adopting veganism to attract audiences who seek animal cruelty-free products and those who understand the negative impacts connected to animal byproducts and foods. Fast food chains like Burger King, Chipotle, and Taco Bell have introduced vegan products to capture a market in this booming industry in the past few years.

It is not just food. Vegan beauty products, clothing, beverages, and packaging have become more animal-exclusive.

Veganism is charting a compound annual growth rate of 10.5% between 2018 and 2026. The demand and supply principle holds as businesses and the government have made implications to enter this market as they work to become part of these profits. Investments in this market have also increased the understanding of possible new products and how they can benefit our societies.

Per Lisbon Oikos, the Good Food Institute, a US-based non-profit organization, invested three million dollars into top universities for plant-based research. These investments have been seen worldwide in places like China and Germany, which confirms how this industry has reached the masses.

A decade ago, vegan products and companies were far and few. Present day, new and rising businesses are becoming established and equal with long-term vegans and new-age vegans. Supply is finally catching up with demand, which can lead us to believe this industry will only thrive from here on out.

Regardless of what started this uptrend, it has undeniably positively affected the economy and, more importantly, the environment. In Atlanta, businesses like Eighty7Sweets are finding a home and are united by more vegan-friendly restaurants, stores, and pop-ups. They have found that communities surrounding them have supported and marketed them in any way possible.

Eigthy7Sweets also recommended “Happy Cow,” an application with a one-time fee of four dollars to help you find vegan and vegetarian restaurants near you. The managers Micheal and KP also wanted to show love to some local restaurants they enjoy, such as La Semilla, Chi Chi Vegan, Cafe Culture, Herban Fix, and the infamous Slutty Vegan. A quick interaction with these great individuals taught me about Atlanta’s vegan scene and will have me check out more vegan spots. Interactions like this are