Meat Substitutes - Norway

  • Norway
  • Revenue in the Meat Substitutes market amounts to US$69.17m in 2024. The market is expected to grow annually by 12.53% (CAGR 2024-2029).
  • In global comparison, most revenue is generated in China (US$2,371m in 2024).
  • In relation to total population figures, per person revenues of US$12.54 are generated in 2024.
  • In the Meat Substitutes market, volume is expected to amount to 5.23m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 13.2% in 2025.
  • The average volume per person in the Meat Substitutes market is expected to amount to 0.6kg in 2024.

Key regions: Spain, Russia, United Kingdom, South Korea, India

 
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Analyst Opinion

The Meat Substitutes Market in Norway is experiencing mild growth due to factors such as rising health consciousness and the convenience of plant-based alternatives. Despite slower growth, there is a growing demand for meat substitutes in the overall Meat Market within The Food market.

Customer preferences:
As consumers become more health-conscious, there is a growing trend towards plant-based diets and meat substitutes in Norway. This is driven by a variety of cultural and lifestyle factors, such as concerns about animal welfare and the environmental impact of meat production. Additionally, an increasing number of individuals are adopting flexitarian diets, incorporating more plant-based meals into their weekly consumption. This shift in preferences has led to a surge in demand for meat substitutes, with many companies offering a wide range of alternatives to traditional meat products.

Trends in the market:
In Norway, the Meat Substitutes Market is experiencing a surge in demand as consumers are increasingly opting for plant-based alternatives to meat. This trend is driven by growing health consciousness, environmental concerns, and ethical considerations. The market is expected to continue its upward trajectory, with major players investing in research and development to improve the taste and texture of their products. This presents opportunities for industry stakeholders to capitalize on the changing consumer preferences and expand their market share. Additionally, the rise of e-commerce and the availability of meat substitutes in mainstream supermarkets are making it more convenient for consumers to incorporate these products into their diets. This trend is likely to have a significant impact on the traditional meat market, with potential implications for meat producers and retailers.

Local special circumstances:
In Norway, the Meat Substitutes Market is growing due to the increasing preference for plant-based diets and the government's focus on promoting sustainable and ethical food choices. The country's strong environmental consciousness and high disposable income have resulted in a significant demand for alternative protein sources. Moreover, the stringent regulations on meat production and consumption have also played a crucial role in driving the growth of the Meat Substitutes Market in Norway. The market is also influenced by the country's high awareness of animal welfare, leading to the popularity of innovative and cruelty-free meat substitutes.

Underlying macroeconomic factors:
The Meat Substitutes Market of the Meat Market within The Food market in Norway is influenced by various macroeconomic factors. The country's stable economic conditions and high per capita income have led to a growing demand for healthy and sustainable food options. Moreover, Norway's strong government support for plant-based diets and increasing consumer awareness about the environmental impact of meat consumption are driving the growth of the meat substitutes market. Additionally, the rising trend of health-consciousness and the growing vegan population in the country are also contributing to the market's expansion.

Methodology

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.

Overview

  • Revenue
  • Volume
  • Price
  • Global Comparison
  • Analyst Opinion
  • Methodology
  • Key Market Indicators
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