Europe Meat Substitute Market Report and Forecast 2024-2032

According to the report, the Europe meat substitute market size attained approximately USD 3.93 billion in 2023. Aided by evolving consumer preferences, the market is estimated to grow at a CAGR of 9.20% in the forecast period of 2024-2032, reaching a value of around USD 8.67 billion by 2032.

Meat substitutes, also known as meat analogues or plant-based meats, are products designed to mimic the taste, texture, and appearance of animal meat, offering a vegetarian or vegan alternative. These substitutes are typically made from plant-based ingredients such as soy, wheat, peas, and beans, and are increasingly being enhanced with vitamins and minerals to match the nutritional profile of animal meat. The market for these products is driven by factors, including rising health considerations, environmental concerns, and ethical issues related to animal welfare.

The Europe meat substitute market is witnessing significant growth, fuelled by a combination of evolving consumer preferences, technological advancements in food processing, and supportive regulatory frameworks. This market's expansion is characterised by several trends that indicate both the current state and the future potential of meat alternatives in the region.

European consumers are increasingly health-conscious, a trend that drives interest in meat substitutes, enhancing the Europe meat substitute market value. Plant-based diets are associated with numerous health benefits, including lower risks of heart disease, hypertension, type 2 diabetes, and certain types of cancer. Meat substitutes offer a way to enjoy the flavours and textures of meat while reducing or eliminating the intake of animal products, which are often high in cholesterol and saturated fats.

Awareness of the environmental impact of meat production is rising in Europe. The meat industry is a significant contributor to greenhouse gas emissions, deforestation, and water use. As a result, environmentally conscious consumers are turning to meat substitutes as a way to reduce their ecological footprint. Additionally, the growing concern for animal welfare and the ethical issues surrounding meat consumption are prompting more Europeans to consider plant-based alternatives.

Technological innovations are crucial in shaping the Europe meat substitute market dynamics. Advances in food technology have led to the development of products that closely mimic the taste, texture, and cooking experience of animal meat. Startups and established food companies alike are investing heavily in research and development to create new and improved meat alternatives, including products based on novel protein sources like mycoprotein and algae.

The Europe meat substitute market has seen a significant diversification of meat substitute products. Beyond burgers and sausages, consumers can now find plant-based versions of chicken, beef, pork, and even seafood. This variety caters to a broader range of culinary preferences and dietary needs, making it easier for consumers to incorporate meat substitutes into their diets without sacrificing diversity in their meals.

Meat substitutes are increasingly available not only in speciality health food stores but also in mainstream supermarkets and restaurants. Major retailers in the Europe meat substitute market are expanding their plant-based offerings in response to consumer demand. Additionally, food service providers, including fast food chains and fine dining restaurants, are incorporating meat substitutes into their menus, further normalising and promoting plant-based eating.

The Europe meat substitute market expansion is also shaped by regulatory developments. Various EU regulations and national policies support the development and marketing of sustainable and health-focused food products, including meat alternatives. However, the industry faces challenges related to labelling and the use of meat-related terms for plant-based products. Ongoing debates about labelling regulations could impact how these products are marketed and perceived by consumers.

Despite robust growth, the Europe meat substitute market growth faces challenges. One significant issue is the taste and texture gap between meat substitutes and real meat. While progress has been made, achieving a complete sensory match remains a hurdle for wider acceptance. Additionally, the cost of meat substitutes can be higher than that of conventional meat, posing a barrier for budget-conscious consumers.

Market Segmentation

The Europe meat substitute market can be divided based on source, product, type, and country.

Market Breakup by Source

• Soy Based
• Wheat Based
• Pea Protein
• Others

Market Breakup by Product

• Tofu
• Tempeh
• Seitan
• Quorn
• Others

Market Breakup by Type

• Concentrates
• Isolates
• Textured

Market Breakup by Country

• Germany
• United Kingdom
• France
• Italy
• Others

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Europe meat substitute market. Some of the major players explored in the report are as follows:

• Associated British Foods plc
• DuPont de Nemours, Inc.
• Schouten Europe B.V.
• Ruitenberg Ingredients B.V.
• Kerry Group plc
• Ingredion Incorporated
• Vivera
• BENEO GmbH
• Beyond Meat Inc.
• VBites Foods Ltd.
• Others