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Europe Meat Substitute Market Size, Share, Analysis, Forecast: By Source: Soy Based, Wheat Based, Pea Protein, Others; By Product: Tofu, Tempeh, Seitan, Quorn, Others; By Type: Concentrates, Isolates, Textured; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 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
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Source |
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| Breakup by Product |
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| Breakup by Type |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Meat Substitute Market Overview
8.1 Key Industry Highlights
8.2 Global Meat Substitute Historical Market (2018-2023)
8.3 Global Meat Substitute Market Forecast (2024-2032)
8.4 Global Meat Substitute Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Europe Meat Substitute Market Overview
9.1 Key Industry Highlights
9.2 Europe Meat Substitute Historical Market (2018-2023)
9.3 Europe Meat Substitute Market Forecast (2024-2032)
10 Europe Meat Substitute Market by Source
10.1 Soy Based
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Wheat Based
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Pea Protein
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 Europe Meat Substitute Market by Product
11.1 Tofu
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Tempeh
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Seitan
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Quorn
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Europe Meat Substitute Market by Type
12.1 Concentrates
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Isolates
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Textured
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Europe Meat Substitute Market by Country
13.1 Germany
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Kingdom
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 France
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Italy
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Associated British Foods plc
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 DuPont de Nemours, Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Schouten Europe B.V.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Ruitenberg Ingredients B.V.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Kerry Group plc
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Ingredion Incorporated
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Vivera
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 BENEO GmbH
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Beyond Meat Inc.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 VBites Foods Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Meat Substitute Market: Key Industry Highlights, 2018 and 2032
2. Europe Meat Substitute Market: Key Industry Highlights, 2018 and 2032
3. Europe Meat Substitute Historical Market: Breakup by Source (USD Billion), 2018-2023
4. Europe Meat Substitute Market Forecast: Breakup by Source (USD Billion), 2024-2032
5. Europe Meat Substitute Historical Market: Breakup by Product (USD Billion), 2018-2023
6. Europe Meat Substitute Market Forecast: Breakup by Product (USD Billion), 2024-2032
7. Europe Meat Substitute Historical Market: Breakup by Type (USD Billion), 2018-2023
8. Europe Meat Substitute Market Forecast: Breakup by Type (USD Billion), 2024-2032
9. Europe Meat Substitute Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Europe Meat Substitute Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Europe Meat Substitute Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.93 billion.
The market is assessed to grow at a CAGR of 9.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 8.67 billion by 2032.
The major market drivers are the growing popularity of plant-based diets in the region, a rise in veganism, and the increased focus on health and wellness.
The key trends of the market include the growing flexitarian movement in the region, the production of improved meat substitutes that closely resemble meat profiles, and a rise in demand for textured vegetable protein products.
The major countries in the region are Germany, United Kingdom, France, and Italy, among others.
Various sources of meat substitute are soy based, wheat based, and pea protein, among others.
The key players in the market are 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., and VBites Foods Ltd., among others.
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