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Lower prices and fewer promotions for meat – the chains have a plan for the vegetarian category
Global valuation and growth prospects
This dynamic growth is driven by several key factors:
Health awareness – It is estimated that approximately 68% of the world's population suffers from lactose intolerance[2], significantly increasing the demand for plant-based milk alternatives. In Europe, this problem affects approximately 30% of the population[3], and in Poland 10-30% of people may be affected by this disease[4], including many undiagnosed cases. A plant-based diet solves the problem of people suffering from this disease and reduces the risk of heart disease, type 2 diabetes and obesity, as confirmed by research by the American Heart Association. Plant foods such as fruits, vegetables, whole grains and legumes are rich in nutrients that support cardiovascular health.
Ethics and ecology – growing environmental awareness among consumers is also driving demand for plant-based products, which generate lower CO2 emissions and use less water than animal products. People who eat a plant-based diet generate 75% less greenhouse gas emissions[5].
Potential and growing demand
In Poland, the vegan market is still at an early stage of development. According to a Mintel study, sales of vegan products in Poland increased by 32% in 2021 (Vegconomist). Last year, plant-based meat gained approximately 15% of the Polish meat market, generating sales worth PLN 176 million. Every seventh Pole chose plant alternatives. Plant-based milk reached 10% of sales of the entire milk category, and its sales increased by 39% between 2020 and 2022, while sales of animal milk decreased by 1%. Plant-based products are better able to withstand inflation, but the price of vegan milk is still higher.
Vegan options have now permanently entered the menus of restaurants and shops. New vegan products appear on the market in discount stores, and an example is Oatly vegan milk, which was introduced as a vegan option in Żabka Café, a chain of convenience stores in Poland.
McDonald's is testing Vegan Scoop vegan ice cream in the UK. The Austrian company Revo Foods has introduced an improved version of its plant-based smoked salmon – Smokey Slices, and the British company Mummy Meegz has launched M'z Gems, a vegan alternative to M&M's. These new sweets are made of vegan milk chocolate, do not contain palm oil and are gluten-free.
Market challenges and prospects
One of the main challenges is the price of vegan products, which is often higher than traditional animal products. The production costs of vegan alternatives are higher due to smaller production scales, more expensive raw materials and innovative technological processes.
Changing consumer eating habits on a massive scale is another challenge. Although more and more people are aware of the benefits of a plant-based diet, many consumers still prefer traditional animal products.
The availability of vegan products in stores and restaurants is still limited, especially outside large cities. Companies must invest in logistics to ensure the freshness and quality of their products during transportation and storage.
Investments and financing of the vegan sector
The development of innovative plant products requires significant investment in research and development. Vegan startups often need financial support to introduce new technologies and scale production.
The vegan startup market is experiencing dynamic development, attracting more and more investments. In 2023, the alternative protein sector raised $1.6 billion, and in the first quarter of 2024, an additional $299 million, for a total of $16 billion. from the beginning of 2020,
Ever After Foods, which secured $10 billion. for the development of its bioreactor platform[12]. Funds such as Blue Horizon, CapitalV and Veg Capital are actively involved in financing innovative vegan projects.
