Swapping t-bone for tofu — but does it add-up?
Studies find that those who are vegan or vegetarian tend to spend less money on groceries than those who eat meat. Balanced plant-based diets would generally be cheaper, by up to a third, than average diets in high-income countries.
VERONIQUE GREENWOOD: ‘If you’ve noticed more vegetarian options springing up around you, you’re not imagining it. Food companies and market research firms have noted a distinct uptick in demand… Plant-based foods are a trend that’s “here to stay”, Nestle told analysts last year, and better-tasting meat substitutes are in high demand, as the market is expected to grow to $7.5bn dollars by 2025… But what is the economic impact of shifting your diet away from meat and other animal products? Can it be a smart financial decision, for the individual? And if more people make the shift, how will that change things for the global economy?…
It’s no secret that growing meat is resource-intensive. The land, fertiliser and water to grow animal feed, as well as fuel for transportation of feed and animals, can add up quickly… It all makes sense when you consider that large amounts of crops are concentrated in the production of smaller quantities of meat. Milk, eggs and cheese are resource-intensive for the same reasons – cheese surprisingly so, in that it can take around 10 pounds of milk to make a single pound of cheese… Does that translate to smaller food bills for shoppers? Pound per pound, plant-based foods and calories in general are cheaper than those from animals.
Studies find that those who are vegan or vegetarian tend to spend less money on groceries than those who eat meat: Economist Janina Grabs, who has studied Swedish consumers’ spending habits in detail, found switching to a vegetarian diet meant savings of about 10% on food and drink costs. That’s in line with earlier work which showed a reduction of about 15% with a switch to a diet containing less meat and processed foods. “Balanced plant-based diets would generally be cheaper, by up to a third, than average diets in high-income countries,” says Marco Springmann, an economist at the Oxford Martin Programme on the Future of Food at the University of Oxford’. SOURCE…
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