Meat Substitutes - Finland

Finland

Highlights

Revenue in the Meat Substitutes market amounts to US$19.95m in 2024. The market is expected to grow annually by 9.21% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$3.59 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 1.62m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 8.5% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Meat Substitutes Market in Finland is experiencing subdued growth due to factors such as consumer preference for traditional meat products, limited availability of plant-based options, and higher prices of meat substitutes. However, the market is still expected to grow due to increasing health consciousness and the convenience of vegetarian options.

Customer preferences: As consumers become more health-conscious, there is a growing demand for plant-based protein alternatives in the Meat Substitutes Market of the Meat Market within The Food market. This trend is driven by the rise in flexitarian and vegetarian diets, as well as concerns about the environmental impact of meat production. Additionally, the increasing availability of innovative and tasty meat substitutes is also influencing consumer preferences towards plant-based options.

Trends in the market: In Finland, the meat substitutes market is seeing a rise in demand as consumers become more health-conscious and environmentally aware. This trend is expected to continue as more people adopt plant-based diets and companies invest in innovative meat alternatives. The significance of this trend is evident in the increasing availability and variety of meat substitutes in the market. This presents opportunities for industry stakeholders to capitalize on the growing demand for sustainable and ethical food options. Additionally, the rise of meat substitutes could have implications for traditional meat producers, as they may need to adapt their practices to meet changing consumer preferences.

Local special circumstances: In Finland, the Meat Substitutes Market of the Meat Market within The Food market is heavily influenced by the country's strong emphasis on sustainability and eco-friendliness. As a result, there is a high demand for plant-based meat alternatives and innovative packaging solutions that minimize environmental impact. Additionally, the local food culture, with a focus on healthy and natural ingredients, has led to the popularity of meat substitutes made from traditional Finnish ingredients such as oats and mushrooms. The strict regulatory standards for food production also play a significant role in shaping the market, ensuring high-quality and safe products for consumers.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market in Finland is also impacted by macroeconomic factors. The country's stable economy and favorable regulatory environment have contributed to the growth of the market. Additionally, the increasing awareness about the environmental and health benefits of plant-based alternatives has led to a rise in demand for meat substitutes in Finland. Furthermore, government initiatives to promote sustainable and healthy food choices have also played a significant role in driving market growth. The country's high per capita income and changing consumer preferences towards sustainable and ethical consumption are expected to further boost the demand for meat substitutes in the coming years.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.