Meat Substitutes - Northern Europe

Northern Europe

Highlights

Revenue in the Meat Substitutes market amounts to US$269.00m in 2024. The market is expected to grow annually by 9.07% (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$7.94 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 20.31m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 7.7% in 2025.0.
The average volume per person in the Meat Substitutes market is expected to amount to 0.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The meat substitutes market in Northern Europe is experiencing subdued growth due to various factors such as consumer preference for traditional meat products, lack of awareness about plant-based alternatives, and limited availability in certain regions. Despite this, the convenience and health benefits of meat substitutes drive some growth.

Customer preferences: As consumers in Northern Europe become more health-conscious and environmentally aware, there has been a noticeable increase in demand for plant-based meat substitutes. This shift towards a more plant-based diet is driven by concerns over the environmental impact of traditional meat production and a desire for healthier and more sustainable food options. Additionally, the rise of flexitarian and vegetarian diets in the region has also contributed to the growth of the meat substitutes market, highlighting a trend towards more mindful and conscious consumption.

Trends in the market: In Northern Europe, the Meat Substitutes Market is experiencing a surge in demand, driven by the growing popularity of vegan and vegetarian diets. This trend is expected to continue due to increasing health and environmental concerns. Additionally, there is a rise in technological advancements in plant-based meat alternatives, resulting in improved taste and texture. This presents opportunities for industry stakeholders to innovate and cater to the evolving preferences of consumers. However, there may also be challenges for traditional meat producers to adapt to this shift in consumer demand.

Local special circumstances: In Northern Europe, the Meat Substitutes Market within The Food market is driven by consumer concerns over sustainability and animal welfare. Countries such as Sweden and Denmark have a strong vegan and vegetarian culture, leading to a higher demand for meat alternatives. In addition, strict regulations on food labeling and health claims have also influenced the market, with consumers seeking transparent and healthy options. Furthermore, the region's high income levels and strong focus on health and wellness have created a favorable environment for the growth of the Meat Substitutes Market.

Underlying macroeconomic factors: The Meat Substitutes Market within the Meat Market of The Food market is heavily impacted by macroeconomic factors in Northern Europe. The region's stable economic growth, high disposable income, and increasing health awareness among consumers are driving the demand for meat substitutes. Furthermore, government initiatives to reduce meat consumption for environmental and health reasons are also contributing to the market's growth. On the other hand, the rising costs of raw materials and production, along with trade restrictions and tariffs, are hindering market growth. Additionally, the region's aging population and changing dietary preferences towards plant-based diets are creating a favorable environment for the expansion of the Meat Substitutes Market.

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.