Europe Plant-based Food & Beverage Market Forecast 2023-2032

KEY FINDINGS

The Europe plant-based food & beverage market is set to register a CAGR of 10.80% during the forecast period, 2023-2032. The growing inclination to minimize animal product consumption and the increasing awareness of the environmental impact of livestock production and maintenance boost market demands in the region.

MARKET INSIGHTS

Germany, Nordic Countries, the United Kingdom, Italy, Spain, France, and Rest of Europe are evaluated for the Europe plant-based food & beverage market growth analysis. In Germany, the number of people identifying as flexitarians or vegetarians reached 8 million in 2019. Most vegan population in the country has adopted veganism as a lifestyle choice and not a dietary restriction. This is attributed to the rising veganism and vegetarianism among the German population due to the increased concerns about health, the environment, and animal welfare.

Besides, the country has put forth legal definitions of vegetarian and vegan for food labeling. Moreover, the rising flexitarian population is accredited to the scandals in recent decades that have put the German meat sector under scrutiny. This includes reports of selling rotten meat, animal cruelty investigation, bird & swine flu outbreaks, and forced labor in slaughter plants.

Italy has been evaluated as a potential market for vegan-friendly foods and beverages. Also, the country’s retail outlets offer animal-free food & beverage alternatives for vegans. These include soy milk, lentils (pulses and chickpeas), potatoes, rice, pasta (duh), seasonal/local fruits, etc.

Whereas in Denmark, 2.5% of the population follows a vegetarian lifestyle. As per Coop Analyse and the Vegetarian Society of Denmark, the vegan population, aged between 18 and 34, grew to 5.2% in 2019. Additionally, the number of vegetarians is on the rise. Animal ethics is cited as the prominent reason to avoid animal products. Such factors drive market growth in these countries.

COMPETITIVE INSIGHTS

Some of the key companies in the market are Nestle SA, The Hain Celestial Group Inc, Meatless Farm, 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.
• The 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