Europe Meat Substitute Market Trends, Top Key Players | Growing a CAGR of 7.9% By -2027

The Europe meat substitute market accounted for $1.83 billion in 2019, and is expected to reach $3.54 billion by 2027, growing at a CAGR of 7.9% from 2021 to 2027.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐚𝐦𝐩𝐥𝐞 𝐰𝐢𝐭𝐡 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://www.alliedmarketresearch.com/request-sample/10171

Increase in number of consumers opting for plant-based alternatives, introduction of deep-fried versions of meat substitutes, surge in adoption of veganism, and rise in flexitarian trend have boosted the growth of the Europe meat substitute market. However, dissatisfaction with sensory attributes among consumers hinders the market. On the contrary, development of new products through innovation and rise in investments are expected to open new opportunities for the market players in the future.

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗢𝘂𝘁𝗹𝗼𝗼𝗸:

Country wise, the UK was the prominent market for meat substitute in 2019. This can be attributed to the popularity and substantial consumption of meat substitute products in the region. Furthermore, rise in popularity of the flexitarian diet has driven the demand for meat substitute products in the country. Alongside health benefits, consumers in the UK regard environmental impact as one of the major reasons for switching to meat substitute food products. However, Germany is expected to witness a significant CAGR during the Europe meat substitute market forecast period.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The key players operating in the Europe meat substitute industry include Foods for Tomorrow, Monde Nissin Corporation, Moving Mountains Foods, Premier Foods Plc, Rügenwalder Mühle Carl Müller GmbH & Co. Kg, Schouten Europe B.V., Taifun-Tofu GmbH, The Meatless Farm, Vbites Foods Ltd and Vivera Food group.

𝐏𝐥𝐚𝐜𝐞 𝐀 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐎𝐫𝐝𝐞𝐫 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐀𝐭: https://www.alliedmarketresearch.com/checkout-final/535043374887512f00d0ae02a7c31ad2

The Europe meat substitute market is segmented on the basis of product type, source, category, and county. Based on product type, the market is classified into tofu-based, tempeh-based, tvp-based, seitan-based, Quorn-based and others. The tvp-based segment held the largest share in 2019, accounting for around one-third of the market. However, the seitan-based segment is expected to register the highest CAGR of 9.8% during the forecast period.

Depending on source, the soy-based meat substitute segment accounted for the maximum share in the Europe meat substitute market in 2019. This is attributed to the fact that various kinds of soy-based meat analogues have gained prominence among consumers, owing to their meat-like texture. Tofu, textured vegetable protein, Tempeh, and seitan are among the most popular soy-based proteins used for the preparation of a wide variety of meat substitute products. However, the others segment is expected to grow at a higher CAGR during the forecast period.

𝐆𝐞𝐭 𝐘𝐨𝐮𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝: https://www.alliedmarketresearch.com/request-for-customization/10171

On the basis of source, the market is divided into soy-based, wheat-based, mycoprotein and others. The soy-based segment dominated the market in 2019, accounting for nearly two-thirds of the total revenue of the market. However, the wheat-based segment is expected to manifest the highest CAGR of 9.0% during the forecast period.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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