Plant-Based Opportunities / Vegan Business Opportunities

[csalvato]

These inner goals can be cancelled as soon as the motivation goes away. Veganism's core is more about not harming animals vs. being healthy. It's not motivated by a personal goals.

For more, it's a combination of all of it.

You've both done a great job at making the case that many people who go Vegan do so for reasons that are vastly different from those reasons that most people choose diets.

For those reasons, I think you're right that it is robustly different from a purely dietary trend. I'm still not seeing what makes it a mega-trend that rivals electric/autonomous cars, the internet, blockchain, the telephone, radio, etc.

Here's the only rationale I can infer:

1. Vegans consider their moral compass to be superior to others who don't follow the lifestyle.
2. Because it's so superior, most Vegans believe it's all but certain that this way of eating, living and consuming is the only way forward.
3. Thus, it's a mega-trend because it's a logical conclusion that this way of living and eating is objectively "better".

This quote corroborates:

But the adaptation rate by young people (millennial and younger) and the death rate are synergistically working to make it happen.

Am I mistaken here?

If I'm not wrong, then the assertion disregards the churn rate of Veganism.

Unlike other mega-trends, Veganism experiences a significant churn rate. Many people fall out of love with Veganism, for sound, valid and logical reasons.

Statistically speaking, most people do not stick with Veganism (as a diet or a lifestyle) for the long term. In fact, 84% of people who start eating Vegan ultimately come off.

Those that come off, tend to be very outspoken on why Veganism is a poor choice – perhaps even moreso than their evangelism while living Vegan.

Every source on why Veganism is so great focuses on explosive growth, and ignores the fact that many people come off of Veganism for myriad reasons.

I'm not trying to argue that you, personally, should not be Vegan @MJ DeMarco. That's your choice. You don't have to agree with the arguments from these groups.

But as an emotionless market analyst, it would be folly to ignore that churn rate.

Starting to live a Vegan lifestyle does not mean one stays Vegan. Someone who started using the internet/phones/radios ultimately did not stop using the internet/phones/radios.

Because of the high churn rate, I'm just not seeing what makes it a mega-trend. What am I missing?

Maybe your argument is that better products and services make it so less people churn out of Veganism. Maybe that's true. Maybe I'm missing something. But from the objective facts I've seen so far, I am still not seeing the evidence of a mega-trend emerging.

Because clearly you don't know why many vegans are vegan. That's OK. In a great irony, you are falling to a multitude of your own cognitive biases, a hindsight bias, and a recency bias, and Semmelweis reflex.

I don't pretend to know why anyone does anything, even myself.

I can only deduce and infer.

I did not point out that some were falling under cognitive biases as an insult. We are all falling under our biases every minute of every day. We can't help it....self included.

My comment was only to encourage all of us to examine any biases we may be experiencing.

That said, I'm certainly not falling victim to the Semmelweis reflex, nor hindsight bias, nor recency bias.

The Semmelweis reflex or "Semmelweis effect" is a metaphor for the reflex-like tendency to reject new evidence or new knowledge because it contradicts established norms, beliefs or paradigms.

If you look, I am asking for more information, and explaining why I don't yet believe what you believe.

I am not reflexively discounting what you're saying. This isn't a new thing for me. I've been following Veganism as a dietary trend for over a decade.

I am open to the fact that I'm wrong – but the evidence is pointing a different direction to me. In fact, I haven't seen any new evidence that I could even reject...?

Hindsight bias, also known as the knew-it-all-along effect or creeping determinism, is the inclination, after an event has occurred, to see the event as having been predictable, despite there having been little or no objective basis for predicting it

I am not claiming that I "knew it all along". I'm outlining what I perceive to be the pattern, and asking how this particular pattern could be different.

If anything, I am closer to falling into the trap of a Clustering Illusion or Gambler's Fallacy....but since I'm aware of it, I'm asking for more information on where I could be wrong in my pattern recognition or future prediction.

I don't want to be right. I want to understand.

"Recency bias" is the phenomenon of a person most easily remembering something that has happened recently, compared to remembering something that may have occurred a while back.

I've been involved in the diet and fitness space for the better part of 2 decades, and have researched dietary trends predating the 20th century.

That includes reading Anatomy and Physiology textbooks cover to cover, researching our adoption of the modern kitchen, the "better living through science" movement of the mid-century, and dietary trends from epochs spanning millenia.

It also includes a 3 year tenure at a company focused on serving intentional eaters as the head of product engineering.

Understanding dietary patterns has been a recurring theme through my life - not something that I just decided to troll today on FLF.

I'm not simply looking at Paleo and saying "Oh! Veganism is the same!" as you're suggesting (in what appears to be an attempt to discredit my point...?)

 

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[Darius]

Regardless of what milk (or alternative you use) - there are a few things you can do to figure out how healthy it is:

1. Check the Macros. Make sure it's either high in fat or high in carbs - mixing the 2 is unnatural and likely a prime contributor to all the metabolic problems a lot of humans have (insulin resistance, diabetes, etc.)

2. Check the ingredients. If you don't know an ingredient, look it up on your phone at the store. Since we're talking about processed food (milk alternatives) - it's probably ingredients you don't know OR ingredients you do know that was made with ingredients you don't know. Try to keep the list of ingredients as short as you can

3. Learn how that 'milk' is made. All of the milk alternatives I've researched are unnatural and not much better (if at all) than regular store-bought milk (basically sugar water with no vitamins) - similar to what @MTF & @WinYourself said.

No one should drink milk (unless you're being breastfeed) or milk alternatives at all. But, if we're being practical - try to limit your intake of them to the bare minimum because they have no fat-soluble vitamin content aside from what's 'fortified' (usually fortified with low-bioavailability and can cause deficiencies in other vitamins).

If you're a coffee drinker (and not vegetarian or vegan) and use store-bought milk or alternatives solely for drinking coffee, try getting a hold of raw cream from a farm (fat-soluble vitamins are still present) if you don't add sugar to your coffee.

I know this isn't a thread about nutrition but just wanted to throw that out there in case it helps anyone.

Vegan products are definitely on the rise and a big opportunity

 

[MJ DeMarco]

Market is crashing hard today, but meanwhile this thing is making me hate myself for screwing up the IPO date which was offered by my brokerage.

A $250,000 investment would now be worth $840,000.

 

[MJ DeMarco]

Fidelity: Do you want shares at $25?
MJ: Sure, let me get back to you on how many...

MJ forgets.

And then MJ cries.

 

[MidwestLandlord]

I was vegetarian for 26 of my current 35 years on earth.

Sister is vegan. Sister in law and her kid are vegan.

I'll keep my ears out for needs, and try to think of needs I had when I was a veggie.

I CAN tell you though, vegan shoes are a HUGE need for them. Along with cosmetics that are the same quality and price of the name brand war paints.

Something bringing buyers and sellers together would be great too. And not just products, but sites dealing with recipes, the community, and ethical concerns.

I'll think of more, and pick some brains for needs. Not a business I have interest in, so happy to share needs here if I see them.

 

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[Eisenstein]

Few years ago, there was a great success story in Germany: Attila Hildmann - he made vegan cookbooks, worked out & lost weight, made vegan products and books (Vegan for Youth, Vegan To Go, Vegan For Fit, ...). He was very successful, became rich and bought a Porsche. I don't know how people got to know this, but I remember a real big shitstorm started. Really, it was everywhere, facebook, magazines, ..., and his vegan fans critized him very harshly. Reason: Porsche uses leather seats. It was just last week, I wondered about the sentence "As soon as you succeed, you can do everything" ... in this case, i think, it's problematic, since the target group is extremely idealistic. It seems problematic driving such cars in the public, wearing fur or leather, ... without damage of his image.

I'm surprised the thread started in 2016, i thought the peak is over. Maybe I'm wrong, though! The idea with the milkshakes sounds really great!

 

[SammyGlick]

If one applies the old 'in a gold rush, sell shovels' perspective then perhaps there would be opportunity in creating a business to serve the entrepreneurs who are trying to sell to vegans.

As others have alluded to in this thread, vegans are a demanding customer segment. It might not be enough that what you make is free from any animal products; you may also need to demonstrate a high level of environmental responsibility.

For example perhaps there would be a business in creating a shipping fulfilment company for vegan products that can provide 100% recycled packaging, is powered entirely with energy from renewable sources etc.

It also strikes me that for many entrepreneurs the opportunity might not be creating products specifically for vegans but making your existing products appealing to vegans.

For example in the UK, the Vegan Society allows products that meet their criteria to feature a 'vegan approved' badge on their packaging. I expect that many entrepreneurs could take steps to fulfil these criteria and turn vegans into passionate customers and brand advocates.

In fact this is one of the strategies that MJ describes in 'Unscripted '...

 

[NanoDrake]

"Vegan" in terms of lifestyle except food will be the norm within 5-10 years.
In the cosmetic industry everyone is doing major shifts into "Vegan" products and I can definitely see the vegan food scene growing bigger and bigger. Although being Italian is nearly impossible be Vegan

I do keto and It's a growing movement too, i think that niche is a good one too

 

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[masterneme]

I love the idea of going vegan - as dairy is not supposed to be good for us due to its ability to increase mucus, cause digestive problems, etc.

I also love the fact that by going vegan we aren't killing animals. I have been thinking about going vegan, however, the problem is that many of the vegan "fake meat" substitues are LOADED with sodium.. I don't mind the taste, but that much sodium isn't good for us.

Now, if they could come out with vegan pattys that taste good, that aren't totally high in SODIUM that would be a great business right there!

If you want some next level stuff watch this:

 

[AubreyJ]

Eventually your cravings for this stuff will die down and you'll crave fruits/veggies and healthier replacements.

Also, I'm gonna guess that a slightly increased sodium intake in lieu of no more dairy and meat will be a net gain for your health.

Totally Agree-- Been a vegetarian since I was 11 (so 13 years) and been vegan (for the most part) for 4 years. The cravings go away for sure, but I've also found that the high sodium fake meats are typically vegetarian, not vegan.

When I went Vegetarian, I gained 50 pounds over the course of 5 years because it's easy to be unhealthy while vegetarian because I just replaced all my meat with dairy.

When I went vegan I lost all my extra weight and more within 2 years- I solely credit that to the fact being vegan really kinda forces you into eating whole, healthier foods--even the faux meats, cheese, and the like are still healthier than the non-vegan alternative for the most part

 

[Bennu]

I went plant based not due to any ideology or morality, but because I have diabetes. I tried keto, low carb, slow carb, and other diets, but so far this one has the best combination of keeping my glucose low, reducing my need for medication, fitting my current budget, and just how I feel overall. It gives me far more energy and mental clarity than any of the other things I've tried, and that gives me more fuel for the fast lane!

 

[jon.M]

Don't say I didn't tell you!

Where’s the beef? Why your favorite burger chains are going vegetarian

And demand isn't going to go away.

Most people who go plant-based (usually due to animal cruelty reasons and/or health) tend to stay there. They don't go back.

A Swedish fast food chain is going heavy on vegan food and they seem to succeed with it. In a couple of months they'll even roll out vegan milkshakes and other desserts.

They have realized that not all vegan food needs to be raw, ultra-healthy and seasoned with some weird, oriental stuff that makes everything taste like falafel. (Which I often experience is the case with some restaurants and convenience food. At least locally.)

It can taste pretty normal, and be an alternative even for non-vegans.

What I noticed with both this chain, and McDonald's who recently rolled out a vegan alternative, is that they're using meat substitutes from third party brands. This could perhaps be something to do. Sell shovels for established brands who are looking to get a piece of the vegan market.

 

[csalvato]

Veganism isn't a fancy weight loss trend for someone wanting to lose 20 pounds though. It's a lifestyle. It has been around for a long time and it's only in the last five years that we are seeing a rise in it. Before it was just about not eating animal products, but now there's more impetus with the amount of carbon and methane solely eating meat produces. I'm not vegan myself, but I completely understand why someone would want to be one.

I may be totally wrong here, but I think you and many others are falling prey to a cognitive bias that's pervasive in the diet space.

The idea that a particular way of eating is a "lifestyle" that's "been around a long time" is not new. Paleo and Keto can make the same claims. Paleo was getting it's foothold in the 90s. Keto has been around since the 80s. Vegetarianism has been around thousands of years in cultures around the world.

Regardless, the trend of mainstream-adoption for each of these has followed the same pattern.

I am willing to concede that Veganism may be different if there's a compelling argument - but simply saying "it's a lifestyle, not just a diet" is not enough for me to buy it.

 

[G-Man]

Those that come off, tend to be very outspoken on why Veganism is a poor choice – perhaps even moreso than their evangelism while living Vegan.

You might wanna actually read this. It's a joke - she's talking about how she almost got hit by a car making an emergency run for cashew milk, but they're still vegan anyway.

 

[amp0193]

When I see stuff like "vegetarian pork ribs" in the menu, it's clear to me that the owners don't understand that vegans/vegetarians are interested in eating plant-based meals, not fake meat meals. The restaurants I enjoy the most don't label themselves as vegan or vegetarian - they label themselves as plant-based restaurants.

Very well stated post.

I can't do most of the fake meat stuff. I did some of it in the transition period to becoming vegetarian. But now that everything I eat is plant based, I don't ever crave sausage or bacon or anything like that. Did seitan for a while at one point. I don't recommend.

I will make veggie burgers though. Veggie burgers were my gateway into eating vegetarian, and there's lots of good variety in recipes. Quinoa, wild rice, black bean. All good.

I'll eat tofu in asian dishes.

 

[Niptuck MD]

Although veganism is not for me nor my family (we come from a family of agriculturalists and farmers livestock enthusiasts) i can respect the rise from the west especially regarding this. The funny thing is it will be cyclical. Veganism was once huge in indian culture but over the last 10 years, the new generation (are not religious at all usually) they now have the freedom to consume meat that their parents etc (from other castes and creeds) couldnt. India is now a huge consumer and producer of meat products and will continues to grow further. Brazil is the same way. I know brazilians still consume the most beef per capita in the world... Its all about control and limits which people can never figure out and almost always blame X Y Z for their health issues. However, within the western nations, I see veganism as more uplifting to the younger populous` due to their overall beliefs.

 

[MJ DeMarco]

Vegan Magnum's launch a sign of an 'increasing problem for the dairy industry'

Mainstream companies are introducing viable vegan options, too.

Sad that as the dairy industry continues its slow demise, the dairy cartels in all the countries resort to petty and frivolous lawsuits. You can't call that cheese! That's not ice cream! In other words, when you start losing the game, call in your big lawyers/lobbyists and try to change the rules.

 

[ideasunlimited1]

A $22 billion dollar corporation entrenched in the meat industry sees what is happening and is trying to get ahead of the curve...

America’s biggest meat producer wants to take a bite out of the vegetarian market

View attachment 23712
6% a year might not seem like a lot, but it is when you consider it's going up against a behemoth steeped in tradition and culture.

I'm not surprised by this. Meat is actually really expensive in comparison to other food staples, and when I got married and started in the work force during the recession, meat was the first thing that went for us. And so many great vegan/veggie friendly recipes have come out that are so quick to make, that this is actually one of those times that the market spoke before the political climate did. There isn't a lot of innovation in the meat industry, but a meat replacement industry has a huge bubble of growth.

 

[MJ DeMarco]

Beyond went IPO today.

I printed out the prospectus to read last week, never got around to it. So I never parcipated in the offering ($25/share).

Beyond Meat Inc.

As of now the stock is up 120% at $53. Guess the market likes Beyond. And I missed out on an opportunity to double my money in one day. SMH.

 

[ElenaStar]

I’m exploring this market right now. There is definitely a demand for vegan products. My challenge right now is keeping the time and expense of manufacturing low enough to make it more profitable than a lifestyle business. I have two concepts that are developed and documented and I’ve sold some of each so now I’m looking for buyers that will pay more or buy more. (A few to many or many to a few). My third restaurant had a huge vegan following and after I sold it I went on an 11 day vegan cruise and learned first hand how passionate that market is! I would be interested in discussing this more with you! Thanks for sharing.

 

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[Scot]

Very interesting - I was reading about a company testing out quinoa based fermentation drinks recently and it really has a lot of upside in terms of market segmentation appeal. You have the celiac/gluten intolerance demographic, it has a strong appeal amongst Vegans due to it's high protein levels, and it's a whole carb rather than refined - which has all the makings of being the next foodie faux pas.

Very interested in seeing where you take this. Are you just conceptualizing still or have some legs begun to sprout yet?

Sorry, I thought the sarcasm came through there..


Beer.

I just described beer.

 

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[MJ DeMarco]

Completely agree this space is growing, only recently turned vegan so my eyes are currently peeled for opportunities!

I've been vegan for 3+ years and the opportunities are incredible, but starting to be more noticeable. I suggest you give my new book a read as it covers a lot of this emerging opportunity, which in a few years, won't be emerging any longer. And the opportunities will be gone.

 

[mayana]

I don't know if I could get involved in the Vegan space though - I'd fail the authenticity test for sure. I love a nice juicy steak and would seriously miss proper butter on my toast

Ha, this is exactly what I was thinking when I read his post. When I was doing my natural cosmetics a few years back, I had a vegan friend who wanted to partner with me, but we were going to have to stop using almost all of the ingredients that I was using and switch. And she gets ANGRY about using even things like beeswax! It was too much for me personally, but I definitely get the argument about passion.

I, too, would fail the sniff test, since I probably have a nice delicious filet Mignon once a week. Don't plan on giving that up unless I have to

 

[Mac]

The marketability for these products is insane. They are an incredibly passionate bunch.

... but that also means you need to pay attention to product quality. All your suppliers and manufacturers have to be cruelty-free. The only problem with marketing to vegans is that they don't care if we're product "agnostic" or not.

They want the founder to be a vegan themselves. A vegan business owner and his wife that own the largest chain of vegan restaurants in California were caught eating meat and had a pig pen. There was major uproar, people were calling them "flesh eaters" lol.

I'm not sure if this only applies for entrepreneurs in the vegan food business. I'm in a different vegan market. I'm not sure if "not being vegan" will cause problems for me down the road or not. I'm also not sure if it's ethical... but if you're providing a GREAT product, then should it matter if you're vegan? I don't think so.

This is a question I've been asking myself.

 

[JAJT]

it certainly helps to be a vegan with a vegan business

Especially since most Vegans tend to be very passionate about their views being in line with the products they purchase and consume.

I think if it came out that a vegan company was run by medium-rare loving steak eaters it would come off as disingenuous unless the messaging was extremely well done and transparent about why that's the case. For example, I know it's a big hit right now bringing vegan and vegetarian meals into a normal omnivore's weekly meal cycle. There are even quite a few books like "Meatless Mondays" or whatnot that attempt to show how awesome the food can be without asking anyone to change their whole lifestyle.

 

[MJ DeMarco]

Porsche uses leather seats. It was just last week, I wondered about the sentence "As soon as you succeed, you can do everything" ... in this case, i think, it's problematic, since the target group is extremely idealistic. It seems problematic driving such cars in the public, wearing fur or leather, ... without damage of his image.

"You can do everything..."

True, but as your story proves, there are ramifications on "doing everything" especially if it conflicts with your personal brand and your advertised purpose. Since a significant part of Veganism is about animal welfare, he contradicted his own brand. The actions revealed a real purpose in conflict with the branded one. Only Al Gore and other private-jet-owning environmentalists can get away with such a glaring hypocrisy.

 

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[Goldstandard]

Vegan here and I can tell you there is massive opportunity. I'm always looking for "Vegan" Pizza. That's a huge opportunity right there.

 

[Goldstandard]

A vegan Pizza Chain. Franchised. One model store. Simple. There's a trillion Dollars out there to invest and just like "normal" pizza chains, there's room for a few of these Vegan Pizza Chains. Think Pizza Hut, Dominos, Papa Johns, Papa Murphys, Little Ceasers. I'm already working on a Business plan. After that, the Recipes/Menu. Then the Theme.

Most Vegan Eateries that you go into seem...amateur..thrown together, not super clean/slick or modern. Or they're too varied in menu and focus.

 

[AFMKelvin]

I'm really into Eastern Spirituality specially Hinduism. I'm starting a blog revolving around spirituality in modern day. Which will include many topics on vegetarianism.

Back to the topic everyone knows Hindus for the most part are vegetarian. Most vegans/vegetarian actually become vegans for moralistic purposes. They don't see vegan as just a fad or something to try out. They see as a spiritual act. So you will see many who defend the animals like they are family. They believe that if you cause harm to a living been that bad energy will be spread to everyone. Secondly you can't expect peace upon your life is you cause suffering upon another living being. Animals have souls too. Another aspect of Eastern philosophy is minimalism and vegan is the way to go. Why consume more than you should if you can live and thrive on a plant based diet?

Leaving morality aside there are many reasons by vegan is actually an ideal diet for humans.

When an animal is killed adrenaline is released into its body. Why would you consume the chemicals of another animal?

Modern day meat is filled with many artificial chemicals such as antibiotics.

It's faster to grow a plant than an animal.

You don't pollute the environment as a vegan like meat eaters do. Animal waste is a big problem. Apparently cows farting are causing a big spike in CO2 levels rising.

A human colon is longer than carnivores that digest meat fast as oppose to humans that digest meat slowly thus causing digestive problems.


As a disclaimer I am not vegan nor vegetarian but I'm working on it. The reasons I'm not vegan is because there are not many options on the market for vegetarian food. For example a vegan can't even go to McDonald's and order fries because they are cooked in animal fat. Another reason is because most vegan food that fast food chains label as vegan taste like shit.

If there was a selection of many vegetarian restaurants in my area I would eat there everyday and go full vegan. Just like myself I'm sure there are many people who would become vegans if more choices were given to them. So yes there is a big market for vegan products. I know it will only continue to grow as people become aware of how harmful meat is. As I was writing this post I had the idea that I might as well go back to school to become a vegan chef.

 

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[Fox]

Wow - I will admit I didn't see the potential here when this first got posted but it does seem to be blowing up in a big way.

Can't wait to see if any Fastlaners get in on this in a big way.