According to Business Insider, researchers at Barclays have found that Generation Z is embracing veganism like no other generation has.
Born between 1995 and 2005, members of Generation Z make up a quarter of the U.S. population and are expected to account for 40 percent of all consumers by 2020. The generation’s oldest members are getting ready to graduate college, and as they grow older and start their careers and families, we can expect to really see a boom in the plant-based foods market.
Allied Market Research predicts the vegan meat market will grow 8.4 percent over the next three years, potentially reaching $5.2 billion globally by 2020.
While significant, this increase is an extension of the consistent growth in veganism, especially over the past decade or so as millennials—the world’s largest generation—purchase their own food.
Earlier this year, a study commissioned by the Plant Based Foods Association and The Good Food Institute revealed that the plant-based foods market topped $3.1 billion in sales. And the research firm Global Data reports that veganism in America has increased by 600 percent since 2014.
What’s more, the market research company Mintel recently found that the number of vegan products in Australia had increased by 92 percent since 2014, and Lux Research expects plant-based proteins to make up a third of the global protein market by 2054.
The growth of veganism is great news for the countless animals who suffer horribly at factory farms. Despite being just as smart and sensitive as the dogs and cats we adore at home, cows, pigs, and chickens raised and killed for food are subjected to unimaginable cruelties: extreme confinement, brutal mutilations, and violent deaths.
See for yourself.