In the UK and Europe, the health food and plant-based food markets are rapidly expanding, driven by a growing awareness of the health and environmental benefits of plant-based diets. According to a report by Research and Markets, the European plant-based food market is pro-jected to grow at a compound annual growth rate (CAGR) of 11.9% from 2021 to 2028.
IGD reported that in 2022, 34% of people reported an interest in trying or planning to try a plant- based diet in 2022. The UK buys a third of all those plant-based alternatives sold in Europe. Next to that Veganuary 2023 sign ups hit a record rate with over 629,000 signed up compared to 583,000 the previous year
In the UK, plant-based food sales reached £816 million in 2020, with a growth rate of 14.5% from the previous year, according to research by The Vegan Society. The research also found that the number of vegans in the UK has quadrupled since 2014, with an estimated 600,000 vegans in the country.
The Happy Pear is well-positioned to take advantage of the growing demand for plant-based foods in these markets, particularly with its focus on health, sustainability and bringing almost 20 years experience in this area.
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