The Europe plant-based meat market size is estimated to reach USD 7.83 billion in 2030 and is projected to grow at a CAGR of 20.4% over the period, according to a new report by Grand View Research, Inc. The popularity of meat substitutes sourced from plant-based materials, plant-based patties, and other replacements such as tofu, hummus has reached its highest level, and these alternatives are now preferred by a greater number of customers as suitable replacements to fulfil their daily need of protein and nutrition. However, these products that are developed from plant protein that retains the texture, flavor, and nutritional properties of meat, they are made by the use of non-animal sources. To increase their functionality, desired plant proteins isolated from plants are put through hydrolysis in this process. Further, to create the texture that matches the texture of meat sourced from animals, these plant proteins are combined diligently with other elements such as different types of flour, food adhesives, and plant-based oil. Get deeper insights, latest developments & key market drivers in the Europe plant-based meat Market
Source Insights
The soy-based meat sub-segment lead the market and held market share. Soy is identified as rich source of branch amino acids (BCAAs). Its ability to provide variety of advantages to its consumers such as enhanced performance in exercises and sports, quicker recoveries from tiring workout sessions, assistance in strengthening muscle and mass is expected to help the sub-segment in maintaining its course for growth. Furthermore, chicken, beef, or pork-based products are widely been replaced by pea-based meat substitutes. Its high resemblance in texture, equivalent nutritional values, easy availability, and least preparation time are some of the key driving factors that are most likely to assist the pea-based sub-segment to grow at the fastest pace.
Type Insights
The plant-based chicken segment led the market and accounted for a largest share. The plant-based chicken products can provide the similar amounts of proteins. The market also offers plant-based pork products to its consumers. These products, which are often developed from soy and pea protein, are considered to be very high in fiber and protein contents, and known to have no cholesterol and low amounts of fat. Vegetarian Butcher is one of the key manufacturers of such products. Like every other industry, Europe plant-based meat market experiences entry of new product every now and then. In order to cater to niche, specific requirements of the customers, and to attain competitive advantage.
Key Europe Plant-based Meat Companies
• Impossible Foods Inc.
• Beyond Meats
• Kellogg NA Co.
• Quorn
• VBites Foods Limited
• Vegetarian Butcher
• Plant & Bean Ltd.
• Taifun-Tofu GmbH
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Key questions answered in this report
How big is the market?
What is the market growth?
Which segment accounted for the largest market share?
Who are the key players in the market?
What are the factors driving the market?
Furthermore, Grand View Research has segmented the Europe plant-based meat market report based on source, product, type, end-user, storage, and region.