Veganism and economic effect
VEGAN restaurants are becoming more common, despite their small number. In Malaysia, vegetarian restaurants and other dining establishments with vegetarian selections have become a norm. This is due to the rise in popularity of the plant-based diet in our culture and its effects on consumers and the economy as a whole. The plant-based diet has not only health and environmental benefits but also financial advantages.
Cost of food skyrocketing
As a result of the epidemic, several processing factories had to be shut, severely straining the supply chain. It takes numerous processes to produce beef, hog, chicken and other meats, including slaughtering, grading, packing and distribution.
When some industries or facilities are closed and the process is stopped, farmers and industrial workers must make up for the loss by increasing prices. This means paying more for meals which requires us to give up money for other expenses such as holidays, purchasing other goods, entertainment etc.
Another important area that veganism has an impact on is healthcare cost. It has been noted that vegans have fewer health issues, which saves the healthcare system millions of ringgit. These data is based on information from 12,000 Buddhist volunteers who participated in a Tzu Chi Vegetarian study in 2019. The study found that these vegetarians had 15% lower medical spend and 13% lower outpatient medical cost compared with those who were omnivores.
Despite the fact that the participants in the study are vegetarians, they represent a group that consumes less meat than the typical consumer. These fewer health issues suggest lower medical costs, which translate into more spending elsewhere.
As for health insurance coverage, employers would pay less, and this could translate to increasing wages or investing in expanding operations.
According to Statista Consumer Goods and the fast-moving consumer goods industry, Malaysians consumed an average of 49.7kg of chicken meat per person in 2021. Malaysia is becoming one of the top consumers of chicken meat globally. Meat and dairy production takes up almost 80% of agricultural land.
What happens if we consume less meat?
According to the World Wide Fund Planet-Based Diet, Malaysia’s carbon footprint can be dramatically decreased if we stop eating any meat and switch to a vegan diet. Additionally, there would be a general decrease in eutrophication, agriculture and grazing land usage, greenhouse gas emissions and biodiversity loss.
The reduction in the area set aside for cattle farming would make it feasible for creating new structures, community centres, residential buildings and other infrastructure to support economic growth.
The time has come for people to become vegan as cities mobilise the shift towards a circular economy for food, both within and outside their borders.
Such a shift will provide numerous rational justifications for governments to put policies in place to encourage the agriculture sector to make the necessary adjustments.