Meat Substitutes - Sweden

Sweden

Revenue in the Meat Substitutes market amounts to US$110.20m in 2024. The market is expected to grow annually by 7.21% (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$10.39 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 8.06m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 5.4% 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 Sweden has seen slight growth due to rising health consciousness and convenience of plant-based options. Factors such as limited consumer awareness and higher costs compared to traditional meat may be impacting the market's slow growth rate.

Customer preferences: The growing trend towards plant-based diets and more sustainable food choices has led to a rise in demand for meat substitutes in Sweden's Meat Market. This shift is largely driven by a younger generation that is more health-conscious and environmentally aware. As a result, there has been an increase in the availability and variety of plant-based options, catering to diverse dietary preferences and lifestyles. Additionally, the rise of e-commerce and online grocery shopping has made it easier for consumers to access and purchase these products, further fueling the growth of the Meat Substitutes Market within The Food market.

Trends in the market: In Sweden, the Meat Substitutes Market within the Meat Market is experiencing a surge in demand for plant-based alternatives to traditional meat products. This trend is driven by rising concerns over sustainability, animal welfare, and health. Industry players are responding by investing in research and development of innovative meat substitutes, such as lab-grown meat and plant-based protein products. This trajectory is significant as it reflects a shift towards more sustainable and ethical consumption choices. It also presents potential implications for stakeholders, including opportunities for market growth and the need for regulatory frameworks to ensure product safety and labeling standards.

Local special circumstances: In Sweden, the Meat Substitutes market is growing due to a strong emphasis on sustainability and health consciousness among consumers. This can be attributed to the country's cultural values and government policies promoting a plant-based diet. Additionally, the high cost of meat in Sweden has also been a driving factor for the popularity of meat alternatives. Moreover, the Swedish market is seeing a rise in innovative and locally sourced plant-based products, catering to the demand for environmentally friendly and ethical food choices.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. In Sweden, the market is experiencing growth due to a rising trend of health and environment-conscious consumers. The government's support for sustainable and plant-based diets, along with investments in food technology, is also contributing to the market's growth. Additionally, the increasing awareness of the negative impact of meat consumption on the environment is driving the demand for meat substitutes in the country.

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.