Europe Meat Alternatives Market Value, Size, Share and Growth Report 2023-2030
Market Synopsis
Meat alternatives are made from a variety of plant-based sources. They are mostly taken by vegans and those worried about the health advantages of meat-based cholesterol.
They are derived from plants such as soy, wheat, rice, and others. Meat alternatives are associated with several health advantages, including high protein, vitamin, and energy levels.
The vast majority of meat replacements are cell-based, fermentation-based (mycoprotein), or plant-based (cultured meat). The most popular meat replacement on the market is plant-based cuisine. The most common plant-based meat replacements include soy protein, pea protein, wheat gluten, or a mix of protein sources.
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Market Growth Analysis
According to DataM Intelligence’s latest research, the “Europe Meat Alternatives Market” is estimated to grow at a CAGR of 23.98% during the forecast period 2023-2030.
Market Key Drivers
The rising number of vegans and a growing demand for plant-based proteins are expected to drive growth in the European meat alternatives market.
Growing Number of Vegans in Europe Drives the Market Growth
The market is rising due to a growth in the number of vegans in Europe as well as the nutritional and health benefits of meat substitutes. The high nutritional value of meat alternatives has a considerable influence on how people purchase complete items. Sales of high-protein foods are expected to stay stable during the forecast period. Soy-based meat alternatives like tofu and tempeh are high in protein, vitamins, minerals, and cholesterol.
Consumers with heart and diabetic diseases are encouraged to begin drinking meat-free products since frequent intake offers various health benefits. Before purchasing a product, people carefully examine the ingredients and compare the nutritional value of meat replacements to that of regular meat products.
According to a survey done on behalf of the Good Food Institute Europe (GFI), more than half of European consumers have reduced their consumption of conventional meat, with a considerable share switching to plant-based alternatives.
Plant-Based Proteins are Becoming More Popular
Since the majority of Europeans depend on meat products to achieve their daily protein requirements, the demand for meat substitutes has surged over the last 10 years. While animal proteins provide the body with important amino acids, they also include significant quantities of cholesterol, which has been associated with a variety of major health problems.
It became the key driver of the surge in demand for plant-based protein meals, particularly in industrialized countries such as the United Kingdom, Germany, and France. Vegans are on the increase in various countries, including the United Kingdom.
Europe Meat Alternatives Market: Segmentation Analysis
Europe Meat Alternatives Market is segmented by distribution channel into supermarkets, convenience stores, online stores; and by country into Germany, UK, France, Netherlands, Spain, Italy, Belgium, and the Rest of Europe.
By Distribution Channel: The Availability of Diverse Alternatives Promotes the Rapid Growth of the Supermarket Segment
Supermarkets provide customers with access to a variety of items in one location, enabling them to choose the quality and quantity that best meets their requirements. Because of their reduced operating and sales expenses, these channels will be able to offer items at a cheaper price. The high number of supermarkets that guarantee the quality of the products they sell is expected to considerably help in the segment’s growth.
As the public’s opinion of meat products has changed, stores must now provide alternatives in order to stay profitable and gain a competitive edge. According to Sainsbury, a UK-based retailer, as people select meat-free meals more often, sales of plant-based foods have increased by 65%.
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Geographical Insights
Germany is expected to be the second-largest European country in the meat alternatives market. According to newly released statistics from Destatis, the German Federal Statistics Office, animal meat output declined by 7.8% year on year in 2021. Germany’s per capita meat consumption has consistently fallen, from 62.8 kilos in 2011 to 55 kilos in 2021, according to the Federal Office for Agriculture and Food.
The market for vegetarian or vegan meat alternatives is thriving in Germany, with tofu sausages, veggie burgers, and seitan schnitzels being especially popular. According to figures from the Federal Statistical Office (Destatis), the German economy produced around 17% more meat substitutes in 2021 than the previous year, and production climbed by 62.2% over 2019.
In 2021, German firms produced 97,900 tons of meat substitutes, up from roughly 83,700 tons the previous year and 60,400 tons the year before. Domestic production of these commodities was valued at US$458.6 million in 2021, a 22.2% increase over the previous year. The coronavirus pandemic increased public awareness of the safety and fragility of the animal food supply chain, resulting in increased demand for plant-based meat.
Key Players Operating in the Europe Meat Alternatives Market
- Amys Kitchen, Inc.
- Vbites Foods Ltd.
- Taifun-Tofu GmbH
- Quorn Foods Ltd.
- Schouten
- Hilton Food
- Van Loon Group
- Bobeldijk Food Group B.V
- Cauldron Foods
- Tyson Foods Italia s.p.a
- FelsineoVeg S.r.l.
- VFC
- Vivera
- Beyond Meat
- Tofurky
- Conagra Brands, Inc.
- The Hain Celestial Group, Inc.
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