As far as food and beverage (F&B) trends go, the rise of veganism has been almost impossible to ignore. From alternative milks to plant-based burgers, veganism is arguably the biggest disruptor to the F&B market in years, and this month will once again see hundreds of thousands of consumers taking on the Veganuary challenge – a pledge to eat a vegan diet for the whole of January.
Consumers are becoming increasingly conscious of the nutritional and environmental impacts of the food they eat and, as a result, the demand for vegan restaurants has rocketed, with operators now becoming a mainstream and permanent fixture within the F&B market.
By 2021 the UK meat-free market is estimated to be worth £658 million and we have witnessed a number of both start-ups and established brands immersing themselves within the vegan market through pop-ups and new openings, particularly in London.
Popular US restaurant brand, By CHLOE. was among the first operators to bring a vegan fast-casual style concept to London when it opened in Covent Garden in 2018, and since then, 152 vegan restaurants have planted their feet in the capital. This includes The Vurger Co. which has sites in Shoreditch and Canary Wharf, Comptoir V, the meat-free sister brand to Comptoir Mezze, and WAVE Hackney, short for We Are Vegan Everything.
However, up until now, few have established a network of sites across the city similar to the likes of their meat-based counterparts, although increasing investment into the sector is beginning to drive expansion. The newest entrant to the market is The Cream Group’s Neat Burger, a 100 per cent plant-based, predominantly burger-focused operator, with Lewis Hamilton as a partner and brand ambassador. Despite having only just opened its first site in the West End, 14 new franchises are planned within the next two years with a further target of 100 worldwide in the next five years.
With vegans and vegetarians set to make up a quarter of the British population by 2025 and just under half of all UK consumers adopting a flexitarian approach to food, similar expansions are expected from a growing number of operators. For example, vegetarian and vegan restaurant brand Mildred’s recently gained investment from Encore Capital LLP and plans to open 10 to 15 new sites within the next four years.
Vegan or not, you cannot deny the diet’s growing presence in the wider F&B market and, while the current climate has been challenging for traditional casual dining operators, vegan brands have certainly made a name for themselves. As consumer attitudes continue to change, and if the significant growth of the market progresses, we can expect to see many more vegan restaurants opening sites in London and further beyond this year.
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