The year 2022 has begun and it’s shaping up to be an unpredictable and turbulent year to say the least. Changes are rapid, the health emergency is not over and the political situation is unstable. Now, as if two years of pandemic were not enough, Russia\u2019s attack on Ukraine is bringing more disruption.
\nThis year it would be particularly unreasonable to claim to predict what the future will bring. Next week’s world could be completely different from last week’s. However, we can analyze the data available to us today and speculate on developments.<\/p>\n
Among the war\u2019s ripple effects, there is a turning point in global food pricing<\/a><\/strong>. Russia and Ukraine together makeup 29% of global wheat exports, 19% of global corn and 80% of exports of sunflower oil. This means that Russia\u2019s attack on Ukraine threatens global food security<\/strong>. Plant-based food market is doing phenomenally well. No wonder it attracts the interest of big banks. UBS Investment Bank forecasts<\/a> the global plant-based meat market to reach USD 51 billion by 2025 and a report from Credit Suisse<\/a> points to the vegan sector as an excellent investment opportunity<\/strong>. The market for alternatives to meat and dairy products is expected to grow from the current $14 billion reaching $1.4 trillion by 2050<\/strong>.<\/p>\n
\nOnly time and events will reveal the severity of the consequences, for sure we are going to witness a number of repercussions. And since Russia and Belarus are primary exporters of fertilizers<\/a>, the conflict poses a risk to food production in other countries too<\/strong>.
\nThe United Nations\u2019 World Food Program has expressed concern<\/a><\/strong> over the conflict that might considerably worsen the huger catastrophe humanity is already facing. War, climate change and the economic consequences of Covid 19 are the major causes of food insecurity. The current Ukraine conflict is expected to affect food prices around the world (differently according to the country<\/a>) and be a game changer<\/strong>.
\nSince Europe is reliant on imports of corn and sunflower seed for livestock feed<\/a><\/strong>, it is quite possible that the price of meat will rise too. Will necessity remind us that it takes almost 100 times as much land to produce a gram of protein from beef or lamb, when compared to peas or tofu<\/a>?<\/strong>
\nIt is too early to make any predictions. We can, however, analyze other data at our disposal and check the 2022 vegan trends that, during the first two months, matter the most.<\/p>\nThe Vegan Market Figures You Need To Know<\/h2>\n