Europe Plant-Based Meat Products Market Forecast to 2028 – COVID

Europe Plant-Based Meat Products Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Patties, Nuggets, Meatballs, Sausages, and Others), Category (Frozen, Refrigerated, and Ambient), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)

Report Code : BMIRE00025605 | Region : Europe | Industry : Food and Beverages | Published Date : 10/Aug/2022

The Europe plant-based meat products market is expected to grow from US$ 2,060.30 million in 2021 to US$ 5,311.09 million by 2028; it is estimated to grow at a CAGR of 14.5% from 2021 to 2028

The vegetarian population, especially vegan ones, has grown significantly in recent years. People are increasingly switching to vegetarian diets, owing to increased health concerns. Many dieticians and health practitioners recommend reducing meat consumption and switching to a vegetarian diet to reduce the risks of chronic health issues, including obesity, heart diseases, high blood pressure, and digestive disorders. According to Google Trends, veganism was one of the top five searched terms on Google in 2019 in the UK and across Europe. A report published by Veganuary (a nonprofit organization that encourages individuals in Europe to become vegan for the whole month of January) states that approx. 5.8 million people signed up for the ‘Veganuary Campaign’ in 2021.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe plant-based meat products market in the coming years . The market is expected to grow at a good CAGR during the forecast period.

Europe Plant-based Meat Products Market Revenue and Forecast to 2028 (US$ Million)

Europe Plant-based Meat Products Market Segmentation

The Europe plant-based meat products Market is segmented based on by type, category, distribution channel, and country. Based on type, the Europe plant-based meat products Market is divided into patties, nuggets, meatballs, sausages, and others. The patties dominated the Europe plant-based meat products Market in 2020. Based on category, the Europe plant-based meat products Market is categorized into frozen, refrigerated, and ambient. The frozen segment dominated the Europe plant-based meat products Market in 2020. Based on distribution channel, the Europe plant-based meat products Market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment dominated the Europe plant-based meat products Market in 2020. Based on country, the Europe plant-based meat products Market is segmented into Germany, France, the UK, Italy, Russia, and Rest of Europe. The Rest of Europe segment dominated the Europe plant-based meat products Market in 2020.

Beyond Meat, Kellogg’s Company, Tofurky, VBites Foods Ltd, Quorn, and Impossible Foods Inc. by Altair are among the leading companies in the Europe plant-based meat products market.

At 14.5% CAGR, the Europe Plant Based Meat Products Market is speculated to be worth US$ 5,311.09 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the Europe plant based meat products market was valued at US$ 2,060.30 million in 2021 and is expected to reach US$ 5,311.09 million by 2028, registering an annual growth rate of 14.5% from 2021 to 2028. Increasing importance of environment sustainability and demanding veganism and vegetarianism trends are the critical factors attributed to the market expansion.

Over the past few years, awareness regarding environmental sustainability among people has increased significantly. Climate change has affected the earth's natural ecosystems and poses a significant threat to the present and future generations' well-being. Europe population growth and urbanization are the primary causes of natural resource depletion, including water, fossil fuels, and land, contributing to global warming. Due to the rising Europe population, the demand for food is also increasing. People are heavily reliant on animal sources to meet their nutritional requirements. This factor exerts high pressure on the livestock industry. The livestock industry is one of the key contributors to anthropogenic greenhouse gas emissions. According to the Food and Agriculture Organization (FAO) of the United Nations (UN), the worldwide livestock industry emits 7.1 gigatons of carbon dioxide per year, accounting for 14.5% of all human-caused greenhouse gas emissions. According to industry experts, livestock production emits more carbon dioxide than the whole transportation industry combined. This is expected to drive the market during the forecast period

On the contrary, expensive product price of plant based meat products hurdles the growth of Europe plant based meat products market.

Based on type, the Europe plant based meat products Market is divided into patties, nuggets, meatballs, sausages, and others. The patties segment held 31.7% market share in 2021, amassing US$ 653.00 million. It is projected to garner US$ 1,744.32 million by 2028 to expand at 15.1% CAGR during 2021–2028.

Based on category, the Europe plant based meat products Market is categorized into frozen, refrigerated, and ambient. The frozen segment held 55.8% market share in 2021, amassing US$ 1,150.17 million. It is projected to garner US$ 2,912.99 million by 2028 to expand at 14.2% CAGR during 2021–2028.

Based on distribution channel, the Europe plant based meat products Market is categorized into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held 54.4% market share in 2021, amassing US$ 1,120.57 million. It is projected to garner US$ 2,853.56 million by 2028 to expand at 14.3% CAGR during 2021–2028

Based on country, the Europe plant based meat productsmarket has been categorised into the Germany, France, UK, Italy, Russia, and Rest of Europe. Our regional analysis states that Rest of Europe captured 28.2% market share in 2021. It was assessed at US$ 581.21 million in 2021 and is likely to hit US$ 1,438.24 million by 2028, exhibiting a CAGR of 13.8% during the forecast period.

Key players dominating the Europe plant based meat productsmarket are Beyond Meat; Kellogg’s Company; Tofurky; VBites Foods Ltd; Quorn; and Impossible Foods Inc. among others.

In Sep 2020, Gardein (Conagra Brands, Inc.) debuts a first-ever collection of plant based meat alternative soups.

In April 2022, Beyond Meat launches the beyond burger and beyond meatballs at approximately 2,000 rite aid stores nationwide.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Scope of the Study

3.2 Research Methodology

3.2.1 Data Collection:

3.2.2 Primary Interviews:

3.2.3 Hypothesis Formulation:

3.2.4 Macro-economic Factor Analysis:

3.2.5 Developing Base Number:

3.2.6 Data Triangulation:

3.2.7 Country Level Data:

4. Europe Plant Based Meat Products Market Landscape

4.1 Market Overview

4.2 Porter's Five Forces Analysis

4.2.1 Bargaining Power of Suppliers

4.2.2 Bargaining Power of Buyers

4.2.3 Threat of New Entrants

4.2.4 Competitive Rivalry

4.2.5 Threat of Substitutes

4.3 Expert Opinion

4.4 Value Chain Analysis

4.4.1 Raw Material

4.4.2 Manufacturing/Processing

4.4.3 Packaging

5. Europe Plant Based Meat Products Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Importance of Environment Sustainability

5.1.2 Demanding Veganism and Vegetarianism Trends

5.2 Market Restraints

5.2.1 Expensive Product Price

5.3 Future Trends

5.3.1 Development of New Products

5.4 Impact Analysis of Drivers and Restraints

6. Plant Based Meat Products – Europe Market Analysis

6.1 Europe Plant Based Meat Products Market –Revenue and Forecast to 2028 (US$ Million)

7. Europe Plant Based Meat Products Market Analysis – By Type

7.1 Overview

7.2 Europe Plant Based Meat Products Market, By Type (2020 and 2028)

7.3 Patties

7.3.1 Overview

7.3.2 Patties: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Nuggets

7.4.1 Overview

7.4.2 Nuggets: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Meatballs

7.5.1 Overview

7.5.2 Meatballs: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

7.6 Sausages

7.6.1 Overview

7.6.2 Sausages: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Others: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

8. Europe Plant Based Meat Products Market Analysis – By Category

8.1 Overview

8.2 Europe Plant Based Meat Products Market, By Category (2020 and 2028)

8.3 Frozen

8.3.1 Overview

8.3.2 Frozen: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Refrigerated

8.4.1 Overview

8.4.2 Refrigerated: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Ambient

8.5.1 Overview

8.5.2 Ambient: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

9. Europe Plant Based Meat Products Market Analysis – By Distribution Channel

9.1 Overview

9.2 Europe Plant Based Meat Products Market, By Distribution Channel (2020 and 2028)

9.3 Supermarkets and Hypermarkets

9.3.1 Overview

9.3.2 Supermarkets and Hypermarkets: Plant Based Meat Products Market– Revenue and Forecast to 2028 (US$ Million)

9.4 Convenience Stores

9.4.1 Overview

9.4.2 Convenience Stores: Plant Based Meat Products Market– Revenue and Forecast to 2028 (US$ Million)

9.5 Online Retail

9.5.1 Overview

9.5.2 Online Retail: Plant Based Meat Products Market– Revenue and Forecast to 2028 (US$ Million)

9.6 Others

9.6.1 Overview

9.6.2 Others: Plant Based Meat Products Market– Revenue and Forecast to 2028 (US$ Million)

10. Europe Plant Based Meat Products Market – Country Analysis

10.1 Europe Plant Based Meat Products Market Revenue and Forecasts to 2028

10.1.1 Europe Plant Based Meat Products Market Breakdown, by Key Countries

10.1.1.1 Germany Plant Based Meat Products Market Revenue Forecasts to 2028 (US$ Million)

10.1.1.1.1 Germany Plant Based Meat Products Market Breakdown by Type

10.1.1.1.2 Germany Plant Based Meat Products Market Breakdown by Category

10.1.1.1.3 Germany Plant Based Meat Products Market Breakdown by Distribution Channel

10.1.1.2 France Plant Based Meat Products Market Revenue Forecasts to 2028 (US$ Million)

10.1.1.2.1 France Plant Based Meat Products Market Breakdown by Type

10.1.1.2.2 France Plant Based Meat Products Market Breakdown by Category

10.1.1.2.3 France Plant Based Meat Products Market Breakdown by Distribution Channel

10.1.1.3 Italy Plant Based Meat Products Market Revenue Forecasts to 2028 (US$ Million)

10.1.1.3.1 Italy Plant Based Meat Products Market Breakdown by Type

10.1.1.3.2 Italy Plant Based Meat Products Market Breakdown by Category

10.1.1.3.3 Italy Plant Based Meat Products Market Breakdown by Distribution Channel

10.1.1.4 UK Plant Based Meat Products Market Revenue Forecasts to 2028 (US$ Million)

10.1.1.4.1 UK Plant Based Meat Products Market Breakdown by Type

10.1.1.4.2 UK Plant Based Meat Products Market Breakdown by Category

10.1.1.4.3 UK Plant Based Meat Products Market Breakdown by Distribution Channel

10.1.1.5 Russia Plant Based Meat Products Market Revenue Forecasts to 2028 (US$ Million)

10.1.1.5.1 Russia Plant Based Meat Products Market Breakdown by Type

10.1.1.5.2 Russia Plant Based Meat Products Market Breakdown by Category

10.1.1.5.3 Russia Plant Based Meat Products Market Breakdown by Distribution Channel

10.1.1.6 Rest of Europe Plant Based Meat Products Market Revenue Forecasts to 2028 (US$ Million)

10.1.1.6.1 Rest of Europe Plant Based Meat Products Market Breakdown by Type

10.1.1.6.2 Rest of Europe Plant Based Meat Products Market Breakdown by Category

10.1.1.6.3 Rest of Europe Plant Based Meat Products Market Breakdown by Distribution Channel

11. Industry Landscape

11.1 Overview

11.2 Market Initiative

11.3 New Product Development

12. Company Profiles

12.1 Beyond Meat

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Kellogg's Company

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Tofurky

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 VBites Foods Ltd

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Quorn

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 Impossible Foods Inc.

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1.             Europe Plant Based Meat Products Market –Revenue and Forecast to 2028 (US$ Million)

Table 2.             Europe Plant Based Meat Products Market, by Type– Revenue and Forecast to 2028 (US$ Million)

Table 3.             Europe Plant Based Meat Products Market, by Category– Revenue and Forecast to 2028 (US$ Million)

Table 4.             Europe Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 5.             Germany Plant Based Meat Products Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 6.             Germany Plant Based Meat Products Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Germany Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 8.             France Plant Based Meat Products Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 9.             France Plant Based Meat Products Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 10.          France Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 11.          Italy Plant Based Meat Products Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Italy Plant Based Meat Products Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 13.          Italy Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 14.          UK Plant Based Meat Products Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 15.          UK Plant Based Meat Products Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 16.          UK Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 17.          Russia Plant Based Meat Products Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 18.          Russia Plant Based Meat Products Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 19.          Russia Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 20.          Rest of Europe Plant Based Meat Products Market, by Type – Revenue and Forecast to 2028 (US$ Million)

Table 21.          Rest of Europe Plant Based Meat Products Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 22.          Rest of Europe Plant Based Meat Products Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 23.          List of Abbreviation

LIST OF FIGURES.

Figure 1.           Europe Plant Based Meat Products Market Segmentation

Figure 2.           Europe Plant Based Meat Products Market Segmentation – By Country

Figure 3.           Europe Plant Based Meat Products Market Overview

Figure 4.           Europe Plant Based Meat Products Market: By Type

Figure 5.           Europe Plant Based Meat Products Market: By Country

Figure 6.           Europe Porter's Five Forces Analysis

Figure 7.           Europe Expert Opinion

Figure 8.           Europe Value Chain: Plant-based Meat Patties

Figure 9.           Europe Plant-Based Meat Products Market Impact Analysis of Drivers and Restraints

Figure 10.        Europe: Plant Based Meat Products Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11.        Europe Plant Based Meat Products Market Revenue Share, By Type (2020 and 2028)

Figure 12.        Europe Patties: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 13.        Europe Nuggets: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 14.        Europe Meatballs: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 15.        Europe Sausages: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 16.        Europe Others: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 17.        Europe Plant Based Meat Products Market Revenue Share, By Category (2020 and 2028)

Figure 18.        Europe Frozen: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 19.        Europe Refrigerated: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 20.        Europe Ambient: Plant Based Meat Products Market – Revenue and Forecast To 2028 (US$ Million)

Figure 21.        Europe Plant Based Meat Products Market Revenue Share, By Distribution Channel (2020 and 2028)

Figure 22.        Europe Supermarkets and Hypermarkets: Plant Based Meat Products Market– Revenue and Forecast To 2028 (US$ Million)

Figure 23.        Europe Convenience Stores: Plant Based Meat Products Market– Revenue and Forecast To 2028 (US$ Million)

Figure 24.        Europe Online Retail: Plant Based Meat Products Market– Revenue and Forecast To 2028 (US$ Million)

Figure 25.        Europe Others: Plant Based Meat Products Market– Revenue and Forecast To 2028 (US$ Million)

Figure 26.        Europe Plant Based Meat Products Market, by Key Countries – Revenue (2020) (US$ Million)

Figure 27.        Europe Plant Based Meat Products Market Breakdown by Key Countries, 2020 & 2028 (%)

Figure 28.        Germany Plant Based Meat Products Market Forecasts to 2028 (US$ Million)

Figure 29.        France Plant Based Meat Products Market Forecasts to 2028 (US$ Million)

Figure 30.        Italy Plant Based Meat Products Market Forecasts to 2028 (US$ Million)

Figure 31.        UK Plant Based Meat Products Market Forecasts to 2028 (US$ Million)

Figure 32.        Russia Plant Based Meat Products Market Forecasts to 2028 (US$ Million)

Figure 33.        Rest of Europe Plant Based Meat Products Market Forecasts to 2028 (US$ Million)

The List of Companies - Europe Plant-Based Meat Products Market

● Beyond Meat

● Kellogg’s Company

● Tofurky

● VBites Foods Ltd

● Quorn

● Impossible Foods Inc.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe plant based meat products Market.

● Highlights key business priorities in order to assist companies to realign their business strategies

● The key findings and recommendations highlight crucial progressive industry trends in the Europe plant based meat products Market, thereby allowing players across the value chain to develop effective long-term strategies

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets

● Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Europe plant based meat products Market, as well as those hindering it

● Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution

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