Europe Meat Substitutes Market

Europe Meat Substitutes Market is valued at $ xx million in 2021 and is expected to reach $ xx million by the end of 2026 at a CAGR of xx% between 2021 and 2026.

The growing preference for vegan diets and increased health awareness are expected to increase Europe Meat Substitutes market demand in the near future.

Consumers carefully examine the ingredients of the product and compare the nutritional value of the meat substitute with that of the conventional meat product. As consumer awareness of the adoption of meat substitutes in continental Europe grows, the perception of the taste of meat substitutes is a major factor hampering European meat substitutes. Increased animal protein intolerance, increased awareness of a healthy diet, increased vegan population, and increased venture capital investment are key factors driving the growth of the Europe Meat Substitutes market. The health benefits of meat substitutes are an important growth factor for consumers over meat. Awareness of clean eating and the growing propensity for plant foods will contribute to the growth of the Europe Meat Substitutes market during the forecast period. The Europe Meat Substitutes market has seen significant growth due to the health benefits of meat substitutes and a greater preference for vegetarian food. The increasing number of consumers choosing plant-based alternatives, coupled with significant investment by manufacturers in new product innovations, is having a dramatic impact on overall Europe Meat Substitutes market growth. Additionally, to make it more mass-market appeal, numerous food chains and retailers have introduced decadent and often deep-fried versions of popular meat substitutes. This approach has made it possible to change the notion that plant-based vegan cooking is generally a healthier and better option. This remarkable focus on meat substitutes has made the transition into meat possible for consumers choosing alternative sources of protein. Likewise, the increasing adoption of vegan diets and the growing trend of flexibility in European countries are among the most important drivers of market growth. Increasing health problems, such as being overweight and obesity, have influenced consumers to choose foods made from plants rather than animals. Additionally, companies are innovating and developing product lines for meat substitutes as consumers embrace more meat substitutes. In addition, the increased incidence of impaired consumer health and fitness awareness is expected to drive the growth of the Europe Meat Substitutes market. In addition, the increase in the organized meat substitute retail segment is expected to provide strong Europe Meat Substitutes market growth opportunities in the future. Increasing interest in R&D and the launch of new products from alternative protein manufacturers, as well as increasing demand from emerging economies, are expected to create lucrative opportunities for players operating in the Europe Meat Substitutes market.

Restraints:

The continued increase in the launch of innovative low-cholesterol meat products, such as lean meat, in developed markets inhibits the growth of the Europe Meat Substitutes market. The taste is poor compared to natural meat products, blocking the Europe Meat Substitutes market. The main challenge for the Europe Meat Substitutes market is the very gradual increase in awareness of the impact of meat on the environment.

Market Segments

According to the source, the European market for meat substitutes is segmented into mycoprotein meat substitutes, soy-based wheat substitutes, wheat-based meat substitutes and others. The soy-based wheat replacement segment is expected to grow at the fastest rate and occupy a significant market share.

By category, the European market for meat substitutes is segmented into chilled meat substitutes and frozen meat substitutes. Frozen meat substitutes are expected to take the largest share of the meat substitute market as products like TVP, which are dehydrated high in protein, become more popular.

On the basis of the product, the European market for meat substitutes is segmented into Seitan, Tofu and Tofu Ingredients and Quorn. Seitan segments contain higher amounts of sodium and protein, and are also expected to grow at the fastest rate during the forecast period, as they are also available in a variety of shapes, such as chunks, slices, pickled strips, and blocks.

Impact of COVID 19 on the Europe Meat Substitutes Market:

With the spread of COVID-19, the demand for meat substitutes has seen significant growth due to increased consumer spending on healthy foods and increased health awareness. Additionally, meat substitute manufacturers have seen an increase in demand for plant products due to a lack of meat products in retail stores and restrictions on the purchase of meat products per customer. COVID-19 is expected to further increase the demand for meat substitutes. A healthy lifestyle and proper diet should be maintained as people's awareness of wanting to strengthen their immune system increases to prevent them from being easily infected.

Regional Analysis

The European region is well developed, and people are aware of the adverse effects of meat consumption. Advances in technology have sought to address excessive meat consumption and several meat alternatives are currently on the market. Domestically, the UK was the dominant market in the meat substitute market in 2019. This is due to the popularity and considerable consumption of meat substitutes in the region. The growing popularity of the flexitarian diet has increased the demand for meat substitutes in Spain. Along with the health benefits, consumers in France see environmental impact as one of the main reasons to switch to meat substitutes. However, Germany is expected to witness a significant CAGR over the forecast period for the European meat substitutes market.

Top Leading Company 

Key players in the Europe Meat Substitutes market include CRESPEL & DEITERS, Wilmar International Limited, Suedzucker AG, CHS INC., Puris, MGP Ingredient INC., The Top Health Ingredients, Sonic Biochem Ltd., Cargill, The Emsland Group and Kerry Ingredion., Roquette Frère, Axiom Foods, The Nisshin OilliO Group Ltd, Archer Daniels Midland Company, Sotexpro SA, DuPont Nutrition and Bioscience.