Meat replacements are plant-derived synthetic meats (raw artificial meats). They are made from non-animal protein and look and smell like meat. They are also known as plant-based meat, vegan meat, meat substitute, mimic meat, imitation meat, and vegetarian meat.
According to SPER market research, ‘Europe Meat Substitutes Market Size- By Product Type, By Source, By Distribution Channel, By Category- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’state that the Europe Meat Substitutes Market is predicted to reach USD 7.96 Billion by 2033 with a CAGR of 10.1%.
The growing number of consumers preferring plant-based alternatives, combined with manufacturers' significant investment in new product innovation, is propelling overall market growth. Furthermore, to appeal to a broader audience, numerous food chains and supermarkets have created more decadent, often deep-fried, versions of their popular meat alternatives. This approach has helped to dispel the myth that plant-based, vegan cuisine is always healthier and more ethical. This novel approach to meat alternatives has aided customers' transition away from meat and toward alternative protein sources. Similarly, the growing popularity of veganism and the flexitarian movement in European countries are important factors driving market growth.
In the European meat alternatives industry, companies have numerous opportunity to develop and differentiate their products by providing unique flavors, textures, and formulations that cater to a wide range of consumer tastes and cultural preferences. Collaborating with retailers and foodservice providers can assist meat substitutes reach new consumer groups and geographic areas. Effective marketing and branding campaigns that emphasize the health, environmental, and ethical benefits of meat substitutes can assist increase consumer awareness and acceptance. Furthermore, fostering collaboration among industry stakeholders, such as manufacturers, retailers, foodservice providers, and advocacy organizations, can improve innovation, alleviate supply chain challenges, and promote market expansion. Overall, product innovation and strategic collaborations are projected to drive growth in Europe's meat alternatives market.
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Impact of COVID-19 on Europe Meat Substitutes Market
The Covid-19 pandemic has accelerated current trends and boosted demand for meat substitutes, as consumers seek healthier and more sustainable food options, stockpile pantry items, and seek alternative protein sources. While the pandemic has disrupted supply chains and retail operations, the meat replacement market's resilience and adaptation have contributed to its sustained growth and customer interest in plant-based eating.
Geographically, the United Kingdom was the most important meat substitute market. This is because meat substitutes are popular and widely used in the region. Furthermore, the growing popularity of the flexitarian diet has increased demand in the country for meat alternatives. Along with health benefits, people in the United Kingdom regard the environmental impact as one of the main reasons for switching to meat-free foods. However, Germany is expected to grow at a rapid pace throughout the Europe meat substitute market forecast period.
Europe Meat Substitutes Market Key Players
Additionally, some of the market key players are Amy's Kitchen Inc., Associated British Foods PLC, House Foods Group Inc., International Flavors & Fragrances Inc., JBS SA, Vitasoy International Holdings Ltd, Others.
Europe Meat Substitutes Market Segmentation
By Product Type: Based on the Product Type, Europe Meat Substitutes Market is segmented as; Quorn-Based, Seitan-Based, Tempeh-Based, Tofu-Based, Tvp-Based, Others.
By Source: Based on the Source, Europe Meat Substitutes Market is segmented as; Mycoprotein, Soy-Based, Wheat-Based, Others.
By Distribution Channel: Based on the Distribution Channel, Europe Meat Substitutes Market is segmented as; Off-Trade (Convenience Stores, Online Channel, Supermarkets and Hypermarkets, Others), On-Trade.
By Category: Based on the Category, Europe Meat Substitutes Market is segmented as; Frozen, Refrigerated, Shelf Stable.
By Region: This research also includes data for France, Germany, Italy, Netherlands, Russia, Spain, United Kingdom, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Europe Meat Substitutes Market Share
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