Can You Profit From the Vegan Boom?

Greggs' vegan sausage roll is an example of a company tapping into meat-free mania - sustainable fund managers are now paying close attention to these food trends

Holly Black 8 January, 2020 | 11:09AM

Greggs vegan steak bake

The runaway success of Greggs’ vegan sausage roll shows how quickly demand for meat-free products has risen in recent years, while the “Veganuary” trend has now entered the mainstream. Fund managers are now starting to realise the investment opportunity this change presents, with the number of vegans in the UK more than tripling in the 10 years to 2016. Fast food giants McDonald’s and Burger King have already launched vegan ranges, while UK supermarkets such as Sainsbury’s are seeing strong demand for meat-free products.

Whether it’s for health or ethical reasons, the number of people eschewing meat in their diets is rising rapidly and this has a knock-on effect for the food industry. The UK market for meat-free foods was worth an eye-watering £572 million in 2017, according to Mintel research, and is expected to reach £658 million by 2021. Vegans avoid all animal products, including dairy, as well as products cooked with meat – but companies are also waking up to the opportunities to target “flexitarians”, who want to cut down their meat consumption for diet and environmental reasons.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Greggs PLC1,772.00 GBX2.67

About Author

Holly Black  is Senior Editor, Morningstar.co.uk

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