Plant-based meat and dairy to become 7.5 billion Euro market in Europe by 2025

#Act4
FarmAnimals

Plant-based meat and dairy to become 7.5 billion Euro market in Europe by 2025

30 October 2020
News
The growth of meat and dairy alternatives is stirring up the food industry, as an increasing number of meat and dairy companies enter the plant-based market to cater to shifting consumer demand. A recent report from ING finds that the plant-based alternatives market in the EU and the UK will be worth 7.5 billion Euro by 2025, compared to 4.4 billion Euro in 2019

European retail sales of meat and dairy alternatives have grown by almost 10% per year between 2010 and 2020.

Much of this achievement can be attributed to the introduction of new products, like plant-based burgers, drinks and ice cream, and the underlying trend among consumers to consider health, animal welfare and sustainability in their decision making. But the rise of plant-based sales is coming from a small base and alternatives represent only 0.7% of the market for meat and 2.5% of the dairy market.

There are regional differences across Europe when it comes to the use of plant-based alternatives, particularly in terms of product range and pricing. The UK is the most-developed market, with retail sales of nearly 1 billion, and is followed by France and Germany. Consumption per capita is highest in the Nordics and the Benelux.