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From the number of vegan-friendly restaurants to new product launches on supermarket shelves, there is no doubt that the plant-based trend is taking the world by storm. But there are differences between regional markets, with some cities and countries showing faster growth, or certain food segments experiencing greater consumer interest than others.
A new report by Singapore-based vegan review platform abillionveg has provided data insights on exactly how the plant-based landscape is changing and growing, and we’re highlighting the top findings in the report.
1. There has been a major increase in the number of vegan options at restaurants
The top 25 countries on abillionveg’s app saw a significant increase in the number of vegan options available at restaurants just over the past year. In Singapore, the number of vegan dishes at each restaurant almost doubled from 2.3 in the second quarter of last year to 4.3 in the same period this year.
2. Asia’s plant-based market is recording the fastest growth globally
Analysing member and content growth across the app’s platform, the research shows that the surge in plant-based consumer interest is accelerating the most in Asia with the region recording a 130% quarter-on-quarter increase.
3. Consumer interest for plant-based is particularly high in Hong Kong
Within Asia, the data shows that Hong Kong is a key hotspot where consumer interest for plant-based and vegan food is growing fast, alongside India and Singapore. Hong Kong, in particular, showed a quarter-on-quarter increase in member reviews of vegan dishes by a healthy 51% in the second quarter of this year.
4. But demand for vegan dishes still outnumbers supply
With the fast-growing demand for more plant-based options – not just from vegans and vegetarians but from flexitarians too – the report notes that there is “strong evidence” that the demand for vegan dishes at restaurants isn’t being fully met. Globally, the number of vegan dishes per consumer stands at 0.86 this year, which means that there are fewer options available than the number of people who want vegan food.
5. Restaurants are working hard to serve up more vegan-friendly offerings
The foodservice sector, in response to mass consumer demand, is ramping up its plant-based offerings, with many restaurants now adding more and more vegan options to their menus. Among the Asian countries, data showed that Hong Kong, Malaysia and Indonesia have emerged at key markets where vegan options at restaurants are increasing at near double-digit rates. Uruguay, Italy, Austria and Ecuador led the pack globally, topping the list of countries showing the fastest quarter-on-quarter growth in food outlets with vegan options.
Lead image courtesy of Unsplash.