Global sales growth of the vegan market 2015/2020, by country

This statistic shows the sales growth of the vegan market between 2015 and 2020 worldwide, by country. According to the report, China was projected to be the fastest growing market for vegan products between 2015 and 2020, with a growth rate of 17.2 percent. As of 2016, Asia Pacific held the largest share of vegan consumers globally, with approximately nine percent of people following a vegan diet in this area.

Vegan lifestyle - additional information

Veganism is a lifestyle and which rejects all forms of animal exploitation. The term “vegan” was coined by Donald Watson in 1944 to differentiate vegans from vegetarians. Due to health, environmental and ethical reasons, vegans avoid consuming food, wearing clothes and using products that come from animals.

Global sales of vegan-labeled food products have experienced a steady growth over the past five years. Products labeled as vegan had a growth rate of 3.3 percent in 2015. In the United States, veganism has become quite popular among Millennial consumers. According to a survey, more than a fourth of U.S. Millennials had considered the label “vegan” as an important factor for purchasing food products. Additionally, a 2016 study on consumer attitudes towards the vegan diet showed that more than half of U.S. consumers consider veganism healthy.

China, the United Arab Emirates and Australia were forecast to be the fastest growing markets for vegan products between 2015 and 2020. Australia’s vegan market was projected to have a growth rate of 9.6 percent during the period considered. In 2015, the best-selling vegan packaged food products in Australia included vegan dairy-type products, which had a market value of over 83 million Australian dollars.