A new report says ‘there are now more vegan products on supermarket shelves than ever before’
Vegan trademarks in the U.K have skyrocketed by a staggering 128 percent, according to data from EMW law firm.
Figures show that only 47 companies successfully applied for a vegan trademark back in 2018. – compared to 107 businesses in 2019.
In an online statement, a spokesperson for EMW said: “There are now more vegan products on supermarket shelves than ever before.
“Multi-national corporations have identified this as a fast-growing sector and are competing to register their trademarks with the aim of capturing and defending a share of the market.
“With a record number of people participating in Veganuary year on year, the trend towards vegan food shows no sign of abating anytime soon.”
Plant-based food market
The data comes shortly after Meticulous Research’s report that predicts the plant-based food market will be worth more than $74 billion by the year 2027.
Drivers for the increase include an ‘increased’ vegan population, ‘significant investments in plant-based product companies, and ‘increasing incidences of intolerance for animal protein’.
“[COVID-19] has led to some best practice models for plant-based products industry as the pandemic has conveyed to the forefront the connection between public health and animal meat consumption, which provides consumers a ground to go for a plant-based diet,” the report states.
“From a manufacturing and distributing point of view, this industry has faced unprecedented demand from manufacturers as well as consumers, particularly for some products such as meat analog and plant-based milk.
“Many companies in the space of alternative protein products have already started changing their strategies, owing to the sudden growth in demand.”
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