Europe Meat Alternatives Market Opportunities and Strategic Focus Report 2022 - 2029

Market Overview
Europe Meat Alternatives Market is expected to grow at a CAGR of 28.67% during the forecasting period 2022-2029.

The advantages of plant-based and meat alternative proteins being cholesterol-free, increasing demand for vegans across Europe, and rising health concerns on a regional scale are the major factors responsible for boosting European Meat Alternatives Market's product demand.
However, perceptions over the taste of meat alternatives and the extent of nutritional values provided by plant-based alternatives are the major factors responsible for hampering the European Meat Alternatives Market's growth. The Europe Meat Alternatives Market is segmented by Type into Tempeh, Tofu, Textured Vegetable Protein, etc. The market is segmented as soy protein, wheat protein, mycoprotein, and others based on the Source. Sales channels segment the Market into Supermarkets, online sales, convenience stores, and others.

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Market Dynamics:
The rising number of vegans in Europe and the nutritional & health benefits of meat alternative products are the driving factors for the market's growth. The high nutritional value of meat alternative products plays a vital role in influencing the consumer purchase pattern of end-products. High protein products are expected to witness steady product sales during the forecast period.

Meat-alternative soy-based products such as tofu and tempeh have high protein content, vitamins, minerals, and cholesterol levels. The regular consumption of meat alternative products results in several health benefits, with consumers facing diabetic and heart conditions recommended to start consuming meat-free products. Consumers scrutinize the ingredients of products before purchase, comparing the nutritional value of meat alternatives with conventional meat products.

Perception of taste is the key restraint hindering market growth worldwide. Although there is increasing consumer awareness regarding the adoption of meat substitute products in the European continent, perception of taste concerning meat substitute products is a major factor impeding the European Meat Alternative products.

According to a research study published in the Science Direct Journal, beneficial foods are likely to be bitter or have some off-taste associated with them. These bitterness and off-taste characteristics are more predominant in plant-based foods, which might restrain people from adopting meat substitute products.

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Market Segmentation:
By Type
• Tofu
• Tempeh
• Textured Vegetable Protein
By Source
• Soy
• Wheat
• Mycoprotein
By Sales Channel
• Super Markets
• Convenience Stores
• Online Sales Channel

Major Companies:
Taifun-Tofu GmbH, VBites Foods Limited, Vantastic foods, Quorn Foods Ltd, Schouten, Archer Daniels Midland Company, DowDuPont Inc, Meatless BV, Cauldron Foods.

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This release was published on openPR.