Europe Plant-based Foods Market Driven by Vegan Diet Trends

 

Meticulous Research^®—a leading global market research company, published a research report titled ‘Europe Plant-based Foods Market—Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication from Meticulous Research^®, the Europe plant-based foods market is expected to reach $21.62 billion by 2031, at a CAGR of 10.3% from 2024 to 2031.

The growth of the European plant-based foods market is fueled by various factors, such as the increasing prevalence of animal protein intolerance, the rising popularity of vegan and vegetarian diets, growing venture investments in companies specializing in plant-based foods, and advancements in food technology. However, market growth is restrained by the higher prices of plant-based foods and the strong preference for animal-based products.

Furthermore, product launches by manufacturers of plant-based foods and protein alternatives generate growth opportunities for market stakeholders.

Key Players:

The Europe plant-based foods market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the Europe plant-based foods market are Beyond Meat Inc. (U.S.), Danone S.A. (France), Amy’s Kitchen Inc. (U.S.), The Hain Celestial Group, Inc. (U.S.), Daiya Foods Inc. (Canada), Marlow Foods Ltd. (U.K.), Taifun –Tofu GmbH (Germany), Vbite Food Ltd (U.K.), Plamil Foods Ltd (U.K.), Plant & Bean Ltd (U.K.), Unilever PLC (U.K.), Berief Food GmbH (Germany), Nestlé S.A. (Switzerland), The Meatless Farm (U.K.), and Veganz Group AG (Germany).

The European plant-based foods market is segmented based on type, source, and distribution channel. The report also evaluates industry competitors and analyzes the market at the country level.

Among the types studied in this report, the dairy alternatives segment is anticipated to hold the dominant position, with a share of 67.2% of the market in 2024. This segment's substantial market share is primarily driven by the rising number of lactose-intolerant individuals, increasing consumer concerns about animal welfare in modern dairy farming, and the nutritional benefits provided by plant-based dairy products.

Among the sources studied in this report, the soy segment is anticipated to hold the dominant position, with a large share of the Europe plant-based foods market in 2024. The extensive availability of raw materials, lower costs compared to other sources, strong demand from meat alternative manufacturers, high levels of consumer acceptance, and a broad range of applications across various food and beverage sectors—including meat, dairy alternatives, and bakery products—significantly contribute to this segment's substantial market share.

Among the distribution channels studied in this report, the business-to-consumer segment is anticipated to hold the dominant position, with a large share of the Europe plant-based foods market in 2024. This segment's dominant position in the market is further supported by rising sales of plant-based products in established supermarkets and hypermarkets, consumer preference for shopping at brick-and-mortar stores due to their accessibility, and increasing consumer spending on vegan foods products.

This research report analyzes major countries and provides a comprehensive analysis of Germany, the U.K., Spain, Italy, France, Netherlands, Belgium, Austria, Poland, Portugal, Denmark, Romania, Sweden, and the Rest of Europe.

Among the countries studied in this report, Germany is anticipated to hold the dominant position, with a share of 23.9% of the market in 2024. The German plant-based foods market is estimated to be worth USD 2.59 billion in 2024. Germany's substantial market share can be attributed to several key factors, including the modernization of the food and beverage industry, increased consumer awareness of the benefits of plant-based foods, growing concerns about animal welfare, and an increase in new product launches within the plant-based foods sector.

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Key Questions Answered in the Report-

• What is the value of revenue generated by the sale of plant-based foods in Europe?
• At what rate is the demand for plant-based foods projected to grow for the next five to seven years in Europe?
• What is the historical market size and growth rate for the Europe plant-based foods market?
• What are the major factors impacting the growth of this market at country levels?
• What are the major opportunities for existing players and new entrants in the market?
• Which type, source, and distribution channel segments create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the manufacturers operating in the Europe plant-based foods market?
• Who are the major players in the Europe plant-based foods market? What are their specific product offerings in this market?
• What recent developments have taken place in the Europe plant-based foods market? What impact have these strategic developments created on the market?

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