Europe Meat Substitute Market Report and Forecast 2024-2032

Europe Meat Substitute Market Outlook

The Europe meat substitute market size attained approximately USD 3.93 billion in 2023. 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.

Key Trends in the Market

Meat substitute or meat replacement encompasses plant-based food that mimics the aesthetics, taste, aroma, and nutritional properties of meat. These substitutes are popular among vegan and vegetarian people as an alternative source of protein.

• The growing popularity of flexitarianism in the region is one of the crucial Europe meat substitute market trends. In accordance with this, consumers are reducing meat consumption and opting for dairy and meat substitutes to promote animal welfare.

• Manufacturers are focused on launching novel clean-labelled meat alternatives that closely resemble the texture, aroma, and nutritional profile of meat, which is also expected to provide impetus to the Europe meat substitute market in the forecast period.

• A surge in the demand for textured vegetable protein (TVP) such as textured pea protein or soy protein in the region due to its high protein content is also a significant market trend. TVP can be used as an alternative to beef and turkey in recipes, propelling the Europe meat substitute market growth.

Market Analysis

Based on source, the market is divided into soy based, wheat based, and pea protein, among others.  On the basis of product, the market is classified into tofu, tempeh, seitan, and Quorn, among others.

Based on type, the Europe meat substitute market segmentation includes concentrates, isolates, and textured, among others. On the basis of country, the market is categorised into Germany, the United Kingdom, France, and Italy, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Europe meat substitute market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Source

Soy occupies a significant portion of the Europe meat substitute market share owing to the growing popularity of soy-based products among consumers. It is available in a wide variety such as soy milk, tofu, and tempeh, among others, which provides various options to vegan and vegetarian customers. Furthermore, several health benefits of soy products such as better cholesterol regulation and lower risk of heart disease also promote the demand for soy-based protein in the region.

In the forecast period, growing environmental awareness is also expected to boost the preference for soy as its production requires fewer resources compared to raising animal livestock.

Market Share by Country

As per the Europe meat substitute market analysis, the United Kingdom accounts for a substantial share of the market due to the easy availability of meat substitutes in retail stores, supermarkets, and hypermarkets. Moreover, the increasing health and environmental concerns in the country are prompting individuals to shift their dietary preferences and reduce their meat intake. Similarly, the rise in veganism and the growing focus on animal welfare is another factor that contributes to the market growth in the country.

Competitive Landscape

Associated British Foods plc, founded in 1935 and based in London, the United Kingdom, is a food processing company. This multinational company provides ethnic food and meat products, cereals, herbs, and vegetable oils, among others.

DuPont de Nemours, Inc., is a multinational chemical company established in 2017 with its headquarters in Delaware, the United States. The company provides consumer products, adhesives, construction materials, and healthcare solutions, among others.

Schouten Europe B.V., founded in 1990, is a manufacturer of plant-based meat substitutes with its headquarters in Giessen, the Netherlands. The product catalogue of the company includes wheat-based, soy-based, and pea-based products, among others.

Other Europe meat substitute market players include Ruitenberg Ingredients B.V., Kerry Group plc, Ingredion Incorporated, Vivera, BENEO GmbH, Beyond Meat Inc., and VBites Foods Ltd., among others.

Key Highlights of the Report