From innovationorigins.com
SUSTAINABILITY - Sales of vegan products are soaring as demand for animal protein stalls
The Good Food Institute Europe reveals a 22% increase in plant-based food sales across 13 European countries, reaching €5.7 billion in 2022. Vegan meat alternatives, dairy-free cheese, and vegan seafood experienced significant growth, with some animal protein categories seeing a decline in sales. Vegan meat product sales increased by 21%, plant milk rose by 20%, while animal-based meat and milk sales dropped 8% and 9% respectively. The alternative seafood sector saw a staggering 343% growth in unit sales. Despite these impressive figures, plant-based options still represent a small market proportion. European companies and governments must support sustainable choices, invest in product innovation, research, and infrastructure to meet climate targets and enhance food security.
Factors Contributing to Plant-Based Growth in Europe
Several factors have contributed to the rapid growth of plant-based food sales in Europe between 2020 and 2022. Mainstream food brands have been adding vegan versions of their products, with companies like Burger King expanding plant-based offerings and opening dedicated plant-based locations. Major food corporations, such as Kraft Heinz, Kellogg, Nestlé, and Bel Group, have also launched or expanded their plant-based offerings. Increased consumer adoption has been driven by three key areas: price, taste, and nutrition.
Moreover, investors have injected over $16 billion into US plant-based and cell-based meat companies in the past 10 years. Increasing investor interest continues to drive innovation and competition within the market. Additionally, plant-based proteins have expanded in grocery aisles, with plant-based alternative milk products accounting for 15.5% of all milk dollar sales, reaching $2.4 billion. With more consumers turning to plant-based foods for health benefits, the demand for these products continues to surge, further contributing to the market’s rapid growth.
Consumer Demographics and Preferences in European Countries
Consumer demographics and preferences across the thirteen European countries analysed in the Good Food Institute (GFI) Europe report show that plant-based food sales have consistently increased, with some countries experiencing more significant growth than others. However, the demographics and preferences in these countries vary, contributing to differences in the adoption of plant-based diets.
For instance, Germany has seen a decline in meat consumption in recent years, partially due to changing dietary habits and increased awareness of the environmental and health impacts of meat production. In the UK, plant-based diets have gained popularity, with veganism seeing a significant rise among younger generations. The increasing availability of plant-based products in supermarkets across Europe has also played a role in the growth of plant-based food sales, making it easier for consumers to find and purchase these products.
Challenges and Opportunities for Plant-Based Food Market
Although the plant-based food market has experienced significant growth in Europe, there is still vast space for improvement. According to Carlotte Lucas, senior corporate engagement manager at GFI Europe, “European companies and governments have a critical role to play in supporting consumers to make more sustainable choices. Companies must continue investing in product innovation to develop delicious and affordable plant-based options.”
Furthermore, governments must invest in research and infrastructure to reduce prices, improve the quality of plant-based options, and deliver on their climate targets and enhance food security. With the growing demand for plant-based alternatives, it is crucial for the food industry to continue innovating and providing consumers with a diverse range of options that cater to different dietary needs and preferences.
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