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Vegetarianism: Tapping Into the Meatless Revolution

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Vegetarianism: Tapping into the Meatless Revolution

The way people choose and consume their food is changing, and it’s encouraging a sweeping shift from animal-based to plant-based food products.

Whether it’s from the perspective of environmental impact, cruelty to animals, or health benefits, meatless diets are quickly becoming a new normal for people around the world—but where did it all begin?

Today’s infographic unearths the origins of vegetarianism and explores how the industry erupted into a lucrative web of sub-categories that are whetting the appetite of investors the world over.

The Origins of the Meat-Free Diet

Taking a holistic view of vegetarianism, there are several different diets that people typically adhere to. A vegetarian for example, doesn’t eat meat but still consumes animal products such as dairy and eggs. On the other hand, a vegan eats a strictly plant-based diet.

With 70% of the global population now reducing their meat intake, veganism has become a lifestyle choice for many. By 2026, the global market is projected to be worth over $24 billion.

While this seems like a relatively new phenomenon, the meatless revolution has been quietly building for almost two centuries.

  • 1847: The first vegetarian society is formed in England
  • 1898: The world’s first vegetarian restaurant opens in Switzerland
  • 1944: The term “vegan” is coined
  • 1994: The first World Vegan Day is introduced
  • 2014: Influential breakout documentary Cowspiracy is released
  • 2017: 6% of the entire U.S. population claim to be vegan
  • 2018: Roughly 8% of the global population claim to eat plant-based
  • 2020: Acceptance of plant-based diets by both the medical community and general public is at an all-time high

Although vegetarian and vegan diets were once heavily stigmatized, global support is now growing.

Towards a Plant-Based Future

Today, people in dozens of countries are making big strides towards plant-based lifestyles.

China, for example, introduced guidelines to help its population of 1.3 billion people reduce their meat consumption by 50%. These ambitious goals will be driven by consumer’s growing understanding of the positive impacts of eating less meat, such as:

  • Health benefits
    According to the American Heart Association, reducing meat intake could reduce the risk of stroke, high blood pressure, type 2 diabetes, and even certain cancers.
  • Environmental impact
    Animal agriculture creates more greenhouse gases than the world’s entire transportation systems combined, but shifting to a plant-based diet could significantly reduce this problem.
  • Animal welfare
    Roughly two thirds of the 70 billion animals farmed annually are cramped in close quarters and given heavy medication. Plant-based diets eliminate animal suffering while lowering demand for other animal food products.

In fact, if more people commit to embracing a plant-based lifestyle, it could result in up to $31 trillion—or 13% of global GDP—in savings for the economy.

Big Players Fight For a Piece of the Pie

Given the newfound consumer demand for meat alternatives, it’s no surprise that global companies are clamouring to enter the market.

Many established food companies such as Nestlé and Danone are either advancing their own formula for plant-based proteins, or acquiring companies with existing experience.

Meanwhile, fast food chain McDonald’s features vegan products as permanent staple on their menu, and report an 80% uplift in customers buying these products in certain countries.

Big Meat Shifts Gears

As new players in the space attempt to cut into the $1.8 trillion global meat market, big meat companies are responding in kind.

Tycoons such as Tyson Foods and Cargill are placing bets on plant-based startups and filling shelves with their own plant-based products.

But while plant-based products created by traditional meat companies may appeal to less rigid flexitarians, vegans and vegetarians may not accept them so readily due to their strong ethics.

Food For Thought

Along with the uncertainty of how these products will be received, there are other challenges that the market must overcome in order to be considered truly accessible. For instance, plant-based alternatives boast higher price points than their predecessor’s products, which may deter consumers from entering en masse.

Regardless, it is clear that the shift to plant-based diets is a disruptive force that could change the food industry over the long term. Early movers are dangling a golden carrot in front of investors—but will they take a bite?

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Investor Education

The Top 5 Reasons Clients Fire a Financial Advisor

Firing an advisor is often driven by more than cost and performance factors. Here are the top reasons clients ‘break up’ with their advisors.

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The following content is sponsored by Morningstar
This circle graphic shows the top reasons for firing a financial advisor.

The Top 5 Reasons Clients Fire a Financial Advisor

What drives investors to fire a financial advisor?

From saving for a down payment to planning for retirement, clients turn to advisors to guide them through life’s complex financial decisions. However, many of the key reasons for firing a financial advisor stem from emotional factors, and go beyond purely financial motivations.

We partnered with Morningstar to show the top reasons clients fire an advisor to provide insight on what’s driving investor behavior.

What Drives Firing Decisions?

Here are the top reasons clients terminated their advisor, based on a survey of 184 respondents:

Reason for Firing% of Respondents
Citing This Reason
Type of Motivation
Quality of financial advice
and services
32%Emotion-based reason
Quality of relationship21%Emotion-based reason
Cost of services17%Financial-based reason
Return performance11%Financial-based reason
Comfort handling financial
issues on their own
10%Emotion-based reason

Numbers may not total 100 due to rounding. Respondents could select more than one answer.

While firing an advisor is rare, many of the primary drivers behind firing decisions are also emotionally driven.

Often, advisors were fired due to the quality of the relationship. In many cases, this was due to an advisor not dedicating enough time to fully grasp their personal financial goals. Additionally, wealthier, and more financially literate clients are more likely to fire their advisors—highlighting the importance of understanding the client. 

Key Takeaways

Given these driving factors, here are five ways that advisors can build a lasting relationship through recognizing their clients’ emotional needs:

  • Understand your clients’ deeper goals
  • Reach out proactively
  • Act as a financial coach
  • Keep clients updated
  • Conduct goal-setting exercises on a regular basis

By communicating their value and setting expectations early, advisors can help prevent setbacks in their practice by adeptly recognizing the emotional motivators of their clients.

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Curious about what drives investors to hire a financial advisor? Discover the top 5 reasons here.

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