Europe Meat Substitute Market Forecast 2023-2032

Europe Meat Substitute Market Forecast 2023-2032

KEY FINDINGS

The Europe meat substitute market is projected to grow with a 13.12% CAGR during the estimated years between 2023 to 2032. Increasing demand for plant-based protein, innovation and product development, and government support drive the market growth in the region.

MARKET INSIGHTS

The Europe meat substitute market growth analysis includes the evaluation of France, Spain, the United Kingdom, Italy, Germany, and Rest of Europe. The meat substitute market in Spain is growing due to the increasing popularity of flexitarian diets. Consumers are becoming more aware of sustainability issues related to meat-based diets and are turning to meat substitutes.

Moreover, data from the Ministry of Agriculture shows that meat consumption has decreased by 2.4% from the previous year, with consumers consuming approximately 2.12 million metric tons of meat and meat products between 2017-2018 in Spain. Although the market value of meat and meat products has been maintained due to rising prices, the decrease in consumption volume is evident. The availability of a wide range of meat substitute options in restaurants and bars across Spain also contributes to the growth of the meat substitute market.

On the other hand, Italy’s population values mental and physical well-being, making healthy food a top priority. With fresh produce, healthy fats, and pasta as staples, Italians maintain low obesity rates. The popularity of a green diet and an estimated five million vegetarians in Italy contribute to the growth of the domestic meat substitute industry.

COMPETITIVE INSIGHTS

Some of the market players include Kerry Group, DuPont, ADM, Ingredion Incorporated, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments