Sustainable vegan fashion is on the rise in a big way. Yes, it seems that it isn’t just Greggs that have majorly benefitted from a rise in interest for all things plant-based. This growing market is a niche that may be worth adopting. As it stands, businesses with a focus or a pledge on offering sustainable goods stand to do well. Is the rise of the so-called “green dollar” a fleeting fad or a trend that keeps growing? Let’s have a look at some of the facts.
Dr Martens’ Sales are Up 70%
This year, Dr Martens have declared a huge increase on sales, putting most of the success down to their vegan footwear range, as well as sensible decision to increase sales direct to consumer. But Dr Martens aren’t the only ones that have jumped on the trend. According to the BBC, products registered with the vegan trademarks have increased from 118 in 2018 to 1956 in 2019. A sudden rise that could suggest a boom and bust effect. Either way, the trend is growing.
Greggs are Expanding their Vegan Range
After a huge amount of publicity and a struggle to meet the demand generated by their vegan sausage roll, Greggs have recently announced their intentions to produce vegan versions on all their best selling food. However, it’s not just Greggs feeling the favour of offering plant-based substitutes of their high street standards. Earlier this year, The Guardian reported that orders of plant-based takeaways grew by 388%. Deliveroo have reported that vegan food is one of the fastest growing categories on their service. It appears that the public have a real desire to have their demands met and companies are almost struggling to keep up.
Vegan is Cool… For Now
It seems that generally speaking, offering a vegan product allows brands to appeal to a generation with growing concerns about climate change, animal welfare and affordability. But will the plant-based trend last? Business owners are questioning the need to overhaul their entire business model to cater for a population of 1%. It just appears that now, being a vegan is about more than just animal welfare. And at least for now, it’s trendy.
So Will it Last?
As it stands, vegan food is doing very well. With brands such as Primark, New Look and even KFC investing in vegan-friendly products, it seems that it will continue to grow for the foreseeable future. For what it’s worth, the plant-based food market is predicted to be worth $24.6 billion by 2026. Is your business feeling the pressure to cater for the vegan market, or is it just a fad? Let us know what you think below.
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