A new report claims our dairy and meat industry is under threat from a growing global demand for vegan products.
The study was carried out by industry research company IBISWorld, and said sales of vegan food products have soared in the past five years in New Zealand, with major food manufacturers increasingly innovating to introduce new products to keep up with demand.
However, it said as the cost of meat and international meat exports continue to rise, the surging demand for vegan products represent a growing threat to New Zealand’s meat and dairy industries.
According to IBISWorld research, the demand for plant-based products has surged in recent years, with food manufacturers in New Zealand constantly having to introduce new products to keep up.
“The quality of these products is also increasing at a rapid pace, with high-end vegan alternatives to meat and dairy foods continuously being launched,” said IBISWorld Senior Industry Analyst James Caldwell.