Europe Plant-Based Foods Market: By Type (Dairy Alternatives, Plant-based Meat, Meals, Confectionery, Beverages, Egg Substitutes, Seafood), By Source (Soy, Wheat, Pea, Rice), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, and Others), and Country

Europe Plant-Based Food Market held US$ 8,289.1 million by 2030, growing at a CAGR of 10.5% during the forecast period of 2024 to 2030. The European plant-based food market is experiencing significant growth, driven by several factors including increasing consumer interest in health, sustainability, and animal welfare. According to a report by GFI Europe, sales of plant-based foods in Europe grew by 21% between 2020 and 2022, reaching a record €5.8 billion.  Plant-based meat sales grew to €2 billion in 2022, accounting for 6% of the overall pre-packaged meat market, while other categories, including plant-based seafood and cheese, saw double-digit growth.

Consumers are increasingly aware of the health benefits of plant-based diets, which are typically lower in saturated fat and cholesterol and higher in fiber than meat-based diets. Consumers are also becoming more concerned about the environmental impact of animal agriculture. Plant-based foods have a lower environmental footprint than meat-based foods, requiring less land, water, and energy to produce, and a growing number of consumers are concerned about the welfare of animals raised for food. Plant-based foods provide a cruelty-free alternative to meat. Despite the innovation & development in the plant-based food market the higher prices for plant-based foods and significant preference for animal-based products can hinder the growth of the European plant-based foods market.

Europe Plant-Based Foods Market Key Developments:

• October 2022: Redefine Meat, an Israeli alt-meat company using 3D printing for plant-based steaks, partnered with importer Giraudi Meats to expand distribution of their products across Europe.
• April 2021: Beyond Meat, a leading player in plant-based meat, significantly expanded its retail presence across Europe. This included partnerships with major retailers in the UK (Sainsbury's, Waitrose), Germany (Kaufland, Tegut, Famila, Real), Austria (SPAR, BILLA, BILLA PLUS), Switzerland (Migros), and the Netherlands (Albert Heijn, Jumbo) The European plant-based food market is experiencing significant growth, driven by several key factors