European meat alternative market

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Europe is a thriving market for meat alternatives

In terms of revenue, Europe has a fantastic place in the global meat alternative market which was valued at $1,718.6 million in 2019 and is projected to expand at an estimated CAGR of 7.3% between 2020 – 2025. There has been an increasing number of vegan product launches across Europe in recent years, and with the addition of widening distribution channels, the region has even higher growth potential. The UK, Germany, France and Italy have the largest markets for meat substitutes within Europe due to larger proportions of vegan and vegetarian consumers.

European meat substitute market estimates 2014 - 2025

Which categories are growing the fastest?

Seitan may only account for approximately 4% of the European market, however this product segment is growing with the highest estimated CAGR of 9.8% between 2020 – 2025. Valued at $70 million in 2019, this is likely to nearly double in value to approximately $125 million in 2025. Seitan is a wheat gluten product that originates from China, popular throughout the East and Southeast. Due to its texture, it can replicate many types of meats convincingly, and has been gaining popularity throughout Western markets.

Quorn (mycoprotein) is also estimated to grow with a strong CAGR. It is popular primarily in European countries, where it is an established household name for many individuals. The distinguishing ingredient here is mycoprotein, a product that utilises nutritious fungus and fermentation processes.

The category of other soy products consists of foods such as soy sauce and tamari, which typically replace meat stock in various dishes. Their share of the market appears small, as they characteristically have a longer shelf life and usage duration than the other categories. However, their widespread use in various cuisine means this segment is projected for strong  growth in the coming years.

The tofu and tofu ingredients category hold a significant share of the European market. The diversity of tofu makes it a popular ingredient, manufacturers commonly use it to make direct meat replacements such as burgers and sausages, amongst others. Plus, consumers are attracted to its high protein and low-fat nutritional qualities.

In 2019 the Textured Vegetable Protein (TVF) category, valued at approximately $760 million, held just over 44% of the whole European market for meat substitutes. This market dominance is set to continue to 2025, as it grows at an estimated CAGR of 7.1% between 2020 – 2025. TVF - also called soy protein, soy-meat or soy chunks – can be used as a replacement for many types of meat, which explains the high market share.

Tempeh has the lowest market share of all the meat alternatives in Europe. With an estimated CAGR of 6.7% between 2020 – 2025, it is expected to reach $44 million in 2025. Originating in Indonesia, it is a fermented soybean product that’s full of protein and used for snacking as well as meals.   

Finally, we have the others category, which consists of vegan products which are not direct meat substitutes, but typically used in vegan cooking to add similar tastes and textures. This includes mushrooms, lentils, jackfruit, beans, falafel, aubergine, legumes and cauliflower, amongst others. Globally, Europe dominates this market, however this segment holds the lowest estimated CAGR.

Data from Grand View Research, Inc. 

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