GLOBAL – The global market for ethically labelled packaged foods, soft drinks and hot drinks (excluding private label) accounted for US$793.8 billion in 2015 and is set to reach US$872.7 billion by 2020.
Behind the USA and Japan, China is the third-ranking market for ethical labels, according to Euromonitor International.
Halal and vegan labels are set to grow by a compound annual growth rate of over 5% annually between 2015 and 2020, translating into US$13 billion and US$708 million additional sales, respectively.
Halal products, driven by ethnic and religious diversity, are currently worth US$45.3 billion and set to reach US$58.3 billion in 2020.
Meanwhile, the top three fastest growing vegan markets between 2015 and 2020 are China at 17.2%, United Arab Emirates at 10.6%, and Australia at 9.6%.
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