Group Predicts Dramatic Rise in Veg Product Sales
Market researchers foresee the vegetarian-product industry growing considerably in the next few years.
A new report from UK-based market-research group Key Note demonstrates that the vegetarian-food industry is enjoying a significant increase in sales, and will continue to do so at an accelerated rate in coming years. Between 2007 and 2011, the UK market grew by 7.7 percent, with the number of high-end vegetarian restaurants in the UK increasing by 50 percent during that time period. Key Note attributes the growth to the move of vegetarian products into mainstream retailers, as well as alarm about rising obesity levels and environmental detriment due to meat consumption and livestock farming, respectively. The firm foresees sales reaching £882.4 million—or nearly $1.4 billion—by 2016, up from £799.7 million in 2012.
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