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The first report on the state of vegan companies in Spain has been published. It focuses on measuring the demographic profile of vegan entrepreneurs, the idiosyncrasy of their businesses, their current state and how the pandemic has affected them, as well as their communication strategies. Compiled by the communications company The Vegan Agency and the Universidad Pontificia Comillas, the study involved a sample of 104 companies throughout the Spanish territory from which information was collected between June and December 2021.

The report’s main results are:

  • Most of the businesses were founded in 2020 in the wake of the pandemic and their founders were vegan.
  • The main reasons to start the business were ethical and personal values.
  • Almost everyone was self-financing and it was the first business venture for most.
  • Almost all of them were self-employed.
  • The leading sector in entrepreneurship was the hospitality industry.
  • Most had a turnover below € 10,000 per year.

Dr Estela Díaz, from the Department of Business Management at the Universidad Pontificia Comillas, said to Bueno y Vegano: “Taking into account the current context strongly marked by an exponential growth of interest in veganism, now more than ever it is decisive to formally elaborate a business plan.”

Sang Gu (Phil) Yim, a strategic consultant who oversaw the report, said: “In line with what respondents think, it is very likely that in the coming years interest in veganism will continue to grow, which will result in a greater number of companies offering vegan products and services. Given this, it will be key for businesses to clearly define what their value proposition is for their customers and promote healthy competition spaces that give life to a true vegan ecosystem.”

The Vegan Agency said: “The results are not surprising and are typical of a first research report on something as eclectic as veganism. In addition, we must take into account the context of the crisis that we are experiencing as a result of the pandemic and that people set up this type of business to be able to provide solutions to a system that has become obsolete because it harms the environment, wastes resources and is cruel to other animals. These businesses have ethics in their ethos and there is still no entrepreneurial ecosystem that encourages veganism with injections of public or private capital.”