Booming Plant-Based Meat Market: Europes Shift to Alternative Proteins
The Europe plant-based meat market size was estimated at USD 2,142.5 million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 20.4% from 2024 to 2030. With rising health concerns associated with animal products consumption, increasing prevalence of animal to human transmitted diseases, growing awareness about animal welfare and quality of experience provided by plant-based meat substitutes, huge number of consumers are shifting to meat substitutes while skipping their usual intake of animal products. Young and fitness enthusiast peer groups are identified as primary consumers of plant-based meat alternatives and therefore considered as key market drivers for this segment.
Europe Plant-based Meat Market Report Highlights
Chicken, beef, or pork-based products are widely been replaced by pea-based meat substitutes. Its high resemblance in texture, equivalent nutritional values, easy availability, and least preparation time are some of the key driving factors
On the basis of product, the Europe plant-based meat market has been segmented into burgers, sausages, patties, nuggets, tenders & cutlets, grounds, and others. In this, Plant-based burgers dominated the market with share.
The plant-based chicken segment led the market. Some of the most popular foods in traditional meat industry, such as nuggets, patties, and cutlets, are made out of chicken, as it is filled with elements like animal fats, cholesterol, and protein as well.
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The popularity of meat substitutes sourced from plant-based materials, plant-based patties, and other replacements such as tofu, hummus has reached its highest level, and these alternatives are now preferred by a greater number of customers as suitable replacements to fulfil their daily need of protein and nutrition. However, these products that are developed from plant protein that retains the texture, flavor, and nutritional properties of meat, they are made by the use of non-animal sources. To increase their functionality, desired plant proteins isolated from plants are put through hydrolysis in this process. Further, to create the texture that matches the texture of meat sourced from animals, these plant proteins are combined diligently with other elements such as different types of flour, food adhesives, and plant-based oil. Therefore, the volume leads to greater amounts when it comes to plant-based protein sources and this is identified as one of the key factors assisting the market in its growth.
Key Europe Plant-based Meat Companies:
Maple Leaf Foods (Field Roast & Maple Leaf)
Grand View Research has segmented the Europe plant-based meat market report based on source, product, type, end-user, storage, and region
