The vegan market is flourishing. How can niche producers keep up with demand?
Source: Industry Week
The number of vegan consumers in the U.S. has risen more than 600% in the last five years, according to research firm GlobalData.
This presents an attractive opportunity: entering a market niche with lower saturation to capture market share while competition is reasonably low.
The nature of this opportunity means, however, quite a few vegan companies are only a few years old and may be faced with rapidly growing demand.