So far, from the journey of our previous blogs, we've discovered that there are a lot of environmental and humanitarian benefits to a plant-based agricultural system. You will be glad to know that it also has enormous economic benefits.

Most people don’t realize the impact meat consumption makes on the economy. You must be thinking, how would a move to the plant-based agricultural system would impact the economy?

In this blog, we will discover the economic changes that will benefit you in moving to a vegan agricultural system and how any negative impacts could be mitigated.

Food is our basic need and a part of our cultural identity. Eating living creatures has become a ‘choice’ rather than a ‘necessity’.

Switching to a plant-based agriculture system has a lot of key benefits, such as reducing animal suffering, economic and environmental benefits, or just health benefits in general...

In the current scenario, people are increasingly choosing a vegan diet because either they are seeing a decline in their health ultimately caused by meat- an animal-based heavy diet or may have an awareness of the detrimental effects that large-scale livestock farming has on the environment.

For any of these reasons, it seems, people are adopting a more plant-based, less animal-centered diet.

But the question is still the same… what might this mean for the economy?

One of the research studies was conducted and randomly, two groups were assigned, the vegan group and the control group. The vegan group was asked to follow a low-fat vegan diet consisting of fruits, vegetables, grains, and legumes, while the control group was requested to make no diet changes. Calorie intake and food costs were not limited to either group. For the food cost assessment, the participants’ dietary records were linked to food price data.  Total food costs decreased in the vegan group by 16% per day, compared with no significant change in the control group.

In addition to Health Benefits, a Vegan Diet Has Economic Advantages. Eating a vegan diet could reduce grocery bills by 16%, a savings of more than $500 a year, according to new research.

The findings support that a plant-based diet provides more cost savings than one that includes animal products.

One more research has been conducted taking a broader area. It showed that just by reducing meat consumption, the United States would save around $197.1 billion. If everyone became vegetarian, the total savings would be around $258.6 billion, and $289.1 if everyone went vegan. The numbers show that the fewer animals involved, the more money is saved. These numbers don’t even include the reduction in the level of emissions or the obesity and chronic disease-related deaths that are caused by meat consumption. That could change the savings to between $2 trillion and $3 trillion in the United States alone.

Within a broader framework, a plant-based economic approach could save billions of dollars for countries and people could be healthy as well as thrive without eating animal products….

Realizing these countless benefits, i.e. the promotion of animal welfare, positive environmental impact, increased sustainability, and better health; people have started shifting towards veganism, and this trend is expected to grow exponentially. Many companies are seeking profit maximization by including a vegan option in their menu. A significant shift in dietary preferences towards plant-based consumption would result in lower commodity prices.

Overall, switching to a vegan agriculture system would benefit both a country's and an individual's economy.

Considering the other point of view, one area that may be negatively impacted is employment because there are some farmers and workers who may have some financial issues. But we can assure you that if properly managed, there must be a solution to work around.

As there would be a reduction in animal agriculture, the demand and need for plant agriculture would increase tremendously. If everyone is eating mainly a plant-based diet, there will be an increase in employment for workers who will be growing and harvesting plants.

In the country, the government should account for the pros and cons and come up with eco-friendly policies side by side taking care of its people in the following aspects:

-              As the demand for meat, dairy, and eggs reduces, what new jobs would be created in the expanding plant farming sector and the new vegan food industries?

-              What programs can be put in place to help animal farmers transition to plant-based farming?

So, the pros outweigh the cons of switching to plant-based agriculture. Veganism is as much about politics and profit as it is about ethics. Therefore, one needs to be cautious while weighing alternatives.

We know that a vegan diet significantly reduces our risk of many health conditions like heart disease, diabetes, and obesity — and now we have proof that opting for beans instead of beef will also lead to significant savings on our grocery bill.

Lastly, not only will a societal shift to adopting a plant-based diet have incredible implications on companies’ offerings and individual and societal savings, but there will be a massive number of jobs to be filled by this new market of consumption.

Veganism is the future for one’s health, our environment, and certainly the economy.

Hang on to your hats, everybody—as we will unveil the myth or misconceptions regarding veganism in the next part… Keep that enthusiasm alive, embrace the adventure, and let the journey of curiosity and discovery fuel your passion.

Stay inspired, stay curious, and keep thriving..!!