Foods classified as “plant-based” include fruits, vegetables, grains, legumes, nuts, and seeds, among other elements sourced from plants. With their removal of all ingredients derived from animals, these foods function as alternatives to conventional animal-based products. Because they don’t contain any ingredients originating from animals, people prefer plant-based meals to traditional animal-based items. For their alleged health advantages, moral implications for animal care, and environmental sustainability, plant-based diets are widely accepted. In line with their dietary preferences and personal values, people can choose from a wide range of tasty and nutritious plant-based options.
According to SPER market research, ‘Europe Plant-based Food Market Size– By Type, By Source, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Europe Plant-based Food Market is predicted to reach USD 24.62 billion by 2033 with a CAGR of 10.42%.
Numerous reasons are driving the European market for plant-based foods to increase. First off, it’s getting easier for customers to include plant-based options in their diets because more and more plant-based food options are becoming available and accessible in grocery shops, fast food chains, and retail stores. Nestlé (Switzerland) released the vegan KitKat V in June 2021 in the UK, Poland, Estonia, Latvia, and Lithuania.
The European plant-based food industry faces a number of opportunities as well as challenges. One of the main opportunities is the rising consumer demand for plant-based food products, which is being fueled by factors including ethical concerns, environmental concerns, and health consciousness. Growing numbers of consumers are opting for plant-based diets, creating an environment that is favorable for companies to create innovative and diverse plant-based food products. Furthermore, favorable regulatory environments and government initiatives that promote sustainable and healthful eating habits benefit the European market. Producers of plant-based foods have more market opportunities thanks to the European Union’s emphasis on sustainability and promotion of plant-based diets through rules and guidelines.
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Impact of COVID-19 on Europe Plant-based Food Market
Plant-based food goods have seen an increase in online sales as a result of the COVID-19 epidemic, as customers have been turning to e-commerce platforms for convenient shopping while still following social distancing protocols. For many businesses that depend on the foodservice industry, however, the market for plant-based foods was severely impacted by restaurant closures and restrictions on dine-in service, which resulted in lower demand and revenue losses. A growing interest in plant-based diets, which are renowned for their possible health benefits, has resulted from the pandemic’s greater emphasis on health and wellbeing. Furthermore, the increased acceptance of plant-based diets in Europe can be attributed to shifting consumer behavior motivated by sustainability, ethics, and conscious consumption.
Europe Plant-based Food Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Nestlé S.A., Plamil Foods Ltd, Plant & Bean Ltd, Taifun -Tofu GmbH, The Meatless Farm, Unilever PLC, Vbite Food Ltd, Veganz Group AG, Amy’s Kitchen Inc., Berief Food GmbH, Beyond Meat Inc., Conagra Brands Inc., Danone SA, Hain Celestial Group Inc., Marlow Foods Ltd., Others.
Europe Plant-based Food Market Segmentation:
By Type: Based on the Type, Europe Plant-based Food Market is segmented as; Baked Goods, Confectionery, Dairy Alternatives, Egg Substitutes, Meals, Meat Substitutes, RTD Beverages, Seafood Substitutes, Others.
By Source: Based on the Source, Europe Plant-based Food Market is segmented as; Nuts, Pea, Rice, Soy, Wheat, Others.
By Distribution Channel: Based on the Distribution Channel, Europe Plant-based Food Market is segmented as; Business-to-Business, Modern Groceries, Convenience Store, Specialty Store, Online Retail, Others.
By Region: This research also includes data for France, Spain, Italy, Netherlands Germany, United Kingdom, Rest of Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link: –
Europe Plant-based Food Market Growth
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