Europe Meat Alternatives Market 2021 Industry Key Trends, Demand, Growth, Size, Review, Share, Analysis to 2028

Research Report

DataM Intelligence

Europe Meat Alternatives Market is expected to grow at a CAGR of 28.67% during the forecasting period (2021-2028).

Europe Meat Alternatives Market is expected to grow at a CAGR of 28.67% during the forecasting period (2021-2028).”

— DataM Intelligence


Market Overview
The benefits of plant-primarily based and meat opportunity proteins being ldl cholesterol-loose, growing call for of vegans throughout Europe, and growing health worries on a regional scale are the most important elements responsible for boosting European Meat Alternatives Market's product demand. However, perceptions over the flavor of meat alternatives and the extent of dietary values supplied with the aid of plant-based totally options are the principal factors liable for hampering the European Meat Alternatives Market's boom. The Europe Meat Alternatives Market is segmented via Type into Tempeh, Tofu, Textured Vegetable Protein, and so forth. The market is segmented as soy protein, wheat protein, mycoprotein, and others based totally on the Source. Sales channels phase the Market into Supermarkets, online income, comfort stores, and others.

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Market Dynamics
The growing quantity of vegans in Europe and the nutritional & health blessings of meat alternative products are the driving factors for the marketplace's growth. The high dietary value of meat alternative merchandise plays a vital role in influencing the client's purchase sample of end-products. High protein merchandise is expected to witness steady product income throughout the forecast length. Meat-alternative soy-primarily based products together with tofu and tempeh have excessive protein content material, vitamins, minerals, and cholesterol levels. The normal consumption of meat alternative products results in numerous fitness benefits, with customers going through diabetic and heart conditions endorsed to start eating meat-unfastened products. The clients scrutinize the components of merchandise earlier than buy, evaluating the nutritional cost of meat alternatives with conventional meat products.

Perception of flavor is the important thing restraint hindering the market growth international. Although there's growing purchaser attention regarding the adoption of meat substitute merchandise within the European continent, the notion of taste regarding meat alternative products is the main element impeding the European Meat Alternative products.

According to studies examine posted in the Science Direct Journal, beneficial foods are probable to be sour or have some off-taste associated with them. These bitterness and stale-taste traits are extra main in plant-primarily based foods, which would possibly restrain human beings from adopting meat alternative products.

Market Segmentation
By Type
• Tofu
• Tempeh
• Textured Vegetable Protein
• Others
By Source
• Soy
• Wheat
• Mycoprotein
By Sales Channel
• Super Markets
• Convenience Stores
• Online Sales Channel

Geographical Analysis
The European Market consists of Germany, the United Kingdom, France, Netherlands, Italy, and the Rest of Europe. The German Meat Alternatives Market is worth USD 330.29 Mn in 2018 and is envisioned to develop at a CAGR of XX % over the forecast period to attain USD XX Mn by using 2026. The German Meat Alternatives Market grew at a regular tempo due to the increasingly wide variety of vegans in Germany and growing fitness issues of meat-primarily based foods. The increasing call for meat replacement products in Germany is the main issue boosting the German meat options market.

Moreover, in keeping with a US Department of Agriculture Foreign Agricultural Service research examines, German veganism has emerged as more and more popular. It is domestic to the most vegan product launches in the international. In 2015, 10% of new food and drinks product launches in Germany were vegan, growing from three% in 2013. This is the result of the populace being increasingly more concerned approximately animal welfare, the surroundings, and health.

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Competitive Landscape
The European Meat Alternatives Market is fragmented, with the market presence of a large number of companies offering meat-free food items with moderate product differentiation and a competitive pricing structure.

For instance, on November 15, 2018, United Kingdom-based Quorn Foods opened up a new meat alternative production facility in Billingham, North East of England. The factory space of 9500 square meters would double the production capacity of Quorn’s core products, adding approximately 20,000 tonnes of production volume per annum.

On March 17, 2019, the Vegan brand Plant Power announced the launch of its tempeh products in the UK supermarket chain Sainsbury's, being among the first of its kind to stock tempeh in the mainstream United Kingdom retail market.

On Mar 26, 2019, Upton’s Naturals, an independently-owned vegan company that was the first to produce flavored seitan in the United States, announced the launch of its popular Italian, Bacon and Chorizo Seitan in the European markets, targeting retail stores in the United Kingdom, including 800 Holland & Barrett and more than 300 Sainsbury’s stores as primary distributor outlets of the flavored seitan end-products.

Related Topic's
Cultured Meat Market, Plant Based Meat Market, Frozen Meat Market

Sai Kiran
DataM Intelligence 4Market Research LLP
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Source: EIN Presswire