Meat Substitutes - Ireland

Ireland

Highlights

Revenue in the Meat Substitutes market amounts to US$38.87m in 2024. The market is expected to grow annually by 10.47% (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$7.64 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 3.75m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 10.2% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.5kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Meat Substitutes Market, within the Meat Market of The Food market in Ireland, is experiencing subdued growth due to factors like consumer preferences for traditional meat products, limited availability of meat substitutes, and high prices.

Customer preferences: Consumers in Ireland are becoming more health-conscious and environmentally aware, leading to a growing demand for meat substitutes in the Meat Market within The Food market. This trend is driven by a desire for healthier and more sustainable food options, as well as concerns about animal welfare. Additionally, the rise of flexitarianism and plant-based diets is further fueling the popularity of meat alternatives. This shift towards alternative protein sources is also influenced by the increasing cultural diversity in Ireland, with a growing number of consumers seeking out plant-based options that align with their dietary preferences and cultural backgrounds.

Trends in the market: In Ireland, the Meat Substitutes Market within the Meat Market of The Food market is experiencing a surge in demand for plant-based protein alternatives. This can be attributed to the increasing awareness of the health and environmental benefits of reducing meat consumption. Furthermore, there is a growing trend of flexitarianism, with more people choosing to incorporate meat substitutes into their diets. This trend is expected to continue, with industry experts predicting a significant growth in the market over the next few years. This presents opportunities for industry stakeholders to innovate and expand their product offerings to cater to the changing consumer preferences. Additionally, the rising popularity of veganism and vegetarianism in Ireland is also driving the growth of the Meat Substitutes Market, as these demographics seek out more plant-based options. This trend is likely to have a long-lasting impact on the Meat Market within The Food market, with a shift towards more sustainable and ethical consumption patterns.

Local special circumstances: In Ireland, the Meat Substitutes Market is heavily influenced by the country's strong cultural ties to meat consumption. However, with an increasing focus on sustainability and health, the market is seeing a rise in demand for plant-based alternatives. Additionally, Ireland's strict regulations on animal welfare and food labeling have led to a more transparent and ethical production process for meat substitutes. These factors set Ireland's Meat Substitutes Market apart from others, creating a unique dynamic within the overall Meat Market of The Food market.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market is heavily impacted by macroeconomic factors in Ireland. The country's strong economic growth and stable fiscal policies have led to a rise in consumer spending and an increase in demand for healthier food options. Additionally, Ireland's robust agricultural sector and government initiatives promoting sustainable and plant-based diets have also contributed to the growth of the Meat Substitutes Market. Furthermore, the rising global trend towards vegetarianism and veganism has also influenced the market, as consumers are increasingly seeking alternate protein sources to reduce their environmental impact and improve their health. Overall, Ireland's favorable economic and regulatory environment, coupled with changing consumer preferences, are driving the growth of the Meat Substitutes Market within the Meat Market of The Food market industry.

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.