From vegconomist.com
A new report by GFI Europe, based on retail data from Circana, has found that the French market for plant-based alternatives is still growing despite rising food prices.
Between 2021 and 2023, plant-based value sales increased by 18%, while volume sales were up 2%. This was despite food price inflation reaching a record high of 15.9% in March 2023. The growth took the total value of the French plant-based market to €648 million in 2023.
In some cases, inflation narrowed the price gap between plant-based products and their animal-based counterparts. Dairy-free yogurt was 66% more expensive than regular yogurt in 2021; now, the difference has reduced to 55%. Last year, figures showed that plant-based meat was approaching price parity with conventional meat in France because it had been less affected by inflation.
Milk and meat alternatives dominate
Cheese alternatives are by far the fastest-growing plant-based category in France, with volume sales having risen by a huge 135.5% since 2021 and the market reaching a value of €10.1 million last year. Milk and meat alternatives have grown more slowly at 3.5% and 4.3% respectively, but remain the most popular categories; milk alternatives make up 33% of all retail value sales of plant-based alternatives, while meat alternatives account for 34%.
The GFI report also includes data for early 2024, showing an acceleration of sales of plant-based alternatives; average weekly volumes were up 4% compared to the same period the previous year. However, GFI advises caution when interpreting these figures, since they may be influenced by seasonal trends.
Overall, the report illustrates that plant-based alternatives are relatively resilient to inflation in France, suggesting high demand for these products.
Possible market acceleration
The success of the French plant-based market comes despite unsuccessful attempts by the country’s government to restrict the way plant-based alternatives can be marketed. In October, the Court of Justice of the European Union ruled that it was not legal for France to ban the use of meat-like terms such as “sausage” and “burger” for meat alternatives.
Meanwhile, supermarket chain Carrefour reported earlier this year that it made €514 million in sales of plant-based alternatives in 2023, exceeding its target of €500 million by 2026; the target has now been increased to $650 million. Another major French chain, Monoprix, has committed to increasing the visibility and accessibility of plant-based food.
“The French market for plant alternatives has been resilient to the inflation affecting the food sector,” Helen Breewood, Research and Resource Manager at GFI Europe, told Agro Media. “Despite generalised price increases, sales by volume and unit of plant alternatives remained stable, showing signs of market acceleration in early 2024. But to maximise its environmental and economic benefits, the industry needs to continue to innovate and develop products that meet consumers’ expectations of prices and taste.”
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