Europe Meat Substitute Ingredients Market Forecast to 2030 - Regional Analysis - by Source, Ingredient Type, and Application

Description

List of Tables

The Europe meat substitute ingredients market was valued at US$ 829.68 million in 2022 and is expected to reach US$ 1,482.03 million by 2030; it is estimated to record a CAGR of 7.5% from 2022 to 2030 .

Strategic Development Initiatives by Key Market Players Drive Europe Meat Substitute Ingredients Market

Europe meat substitute ingredients manufacturers are investing significantly in strategic development initiatives such as product innovation, merger & acquisition, and expansion of their businesses to attract consumers and enhance their market position. Moreover, the demand for meat substitute ingredients is increasing among plant-based meat product manufacturers due to the growing trend of veganism and increasing preference for plant-based food. Thus, key manufacturers are launching various meat substitute ingredients to cater to the increasing demand. For instance, Axiom Foods launched a new pea protein, made from Pisum sativum yellow peas, that is majorly used as a meat replacement and a meat extender in various plant-based meat products. Similarly, in November 2022, International Flavors & Fragrances Inc (IFF) launched Supro Tex-a soy-based plant protein ingredient. The ingredient contains 80% protein, giving it a profile comparable to animal meat. Such product launches by key market players drive the growth of the meat substitute ingredients market. Major manufacturers are employing strategies such as acquisition, expansion, and production capacity scaleup to serve their customers better and satisfy their growing demands. For instance, in January 2021, a UK-based vegan food company, VBites, expanded its operations across the region by winning listings with two supermarket chains named Spinneys and Waitrose. VBites offers plant-based meat, fish, cheese, and dairy alternatives. Thus, such strategic development initiatives by key market players help companies extend their domestic reach and gain a competitive edge in international markets.

Europe Meat Substitute Ingredients Market Overview

The meat substitute ingredients market in Europe is significantly growing owing to the considerable demand for plant-based meat products in countries such as Germany, France, Spain, and the UK. The increasing health consciousness and the rising trend of veganism have made Europe a significant market for meat substitute ingredients. According to Good Food Institute (GFI), plant-based meat sales alone accounted for US$ 2.1 billion in 2022-up 19% compared with 2020. Similarly, according to "The Smart Protein Project report," the sales value of plant-based food in Germany grew by 97% during 2018-2020, while the sales volume increased by 80%. Moreover, consumers are highly inclined toward plant-based meat products due to rising awareness of animal welfare and environmental sustainability.

The popularity of plant-based meat products is increasing in Europe due to the shift in consumer demand from animal protein to plant protein. This inclination toward plant-based meat products is associated with various factors, such as health awareness, sustainability issues, ethical or religious views, environmental concerns, and animal rights. According to the World Health Organization (WHO), consuming natural fats and proteins, including pea and soy, can offer several health benefits, including a healthy gut. Thus, rising health awareness in the region further boosts the demand for meat alternatives made from natural plant-based proteins such as soy, cottonseed, peas, fava beans, and wheat.

The key market players are expanding their presence in European countries to cater to the increasing demand for meat substitute ingredients. For instance, in September 2021, Roquette Freres-a global leader in meat substitute ingredients and a pioneer of plant proteins, announced the opening of a center of expertise of 2,000 square meters on its site in Vic-Sur-Aisne (Hauts-de-France, France). This center is fully dedicated to plant protein innovation. This strategy also helped the company to expand its product line and business dimensions globally. Thus, due to all the aforementioned factors, the demand for meat substitute ingredients is expected to grow in Europe during the forecast period.

Europe Meat Substitute Ingredients Market Revenue and Forecast to 2030 (US$ Million)

Europe Meat Substitute Ingredients Market Segmentation

The Europe meat substitute ingredients market is categorized into source, ingredients type, application, and country.

Based on source, the Europe meat substitute ingredients market is segmented into soy, wheat, pea, mycoprotein, and others. The soy segment held the largest market share in 2022.

Based on ingredients, the Europe meat substitute ingredients market is categorized into soy protein, pea protein, tempeh, tofu, seitan, and others. The soy protein segment held the largest market share in 2022.

In terms of application, the Europe meat substitute ingredients market is segmented into patties, nuggets, sausages, meatballs, and others. The others segment held the largest market share in 2022.

By country, the Europe meat substitute ingredients market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe meat substitute ingredients market share in 2022.

Crespel & Deiters GmbH Co KG, SOTEXPRO SA, DuPont de Neumours Inc, Ingredion Inc, Wilmar International Ltd, Archer Daniels Midland Co, Kerry Group Plc, and Roquette Freres SA are some of the leading companies operating in the Europe meat substitute ingredients market.

Product Code: BMIRE00031090

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Market Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Meat Substitute Ingredients Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturing Process
- 4.3.3 Distributors or Suppliers
- 4.3.4 Application

5. Europe Meat Substitute Ingredients Market - Key Market Dynamics

5.1 Meat Substitute Ingredients Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Demand for Plant-Based Meat
- 5.2.2 Strategic Development Initiatives by Key Market Players
5.3 Market Restraints
- 5.3.1 Flavor Challenges Associated with Plant-Based Protein
5.4 Market Opportunities
- 5.4.1 Government Initiatives to Promote Consumption of Meat Alternative Products
5.5 Future Trends
- 5.5.1 Growing Veganism Trend
5.6 Impact of Drivers and Restraints:

6. Meat Substitute Ingredients Market - Europe Market Analysis

6.1 Meat Substitute Ingredients Market Revenue (US$ Million), 2020-2030
6.2 Meat Substitute Ingredients Market Forecast Analysis

7. Europe Meat Substitute Ingredients Market Analysis - by Source

7.1 Soy
- 7.1.1 Overview
- 7.1.2 Soy: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.2 Wheat
- 7.2.1 Overview
- 7.2.2 Wheat: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.3 Pea
- 7.3.1 Overview
- 7.3.2 Pea: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Mycoprotein
- 7.4.1 Overview
- 7.4.2 Mycoprotein: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
7.5 Others
- 7.5.1 Overview
- 7.5.2 Others: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)

8. Europe Meat Substitute Ingredients Market Analysis - by Ingredient Type

8.1 Soy Protein
- 8.1.1 Overview
- 8.1.2 Soy Protein: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.2 Pea Protein
- 8.2.1 Overview
- 8.2.2 Pea Protein: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.3 Tempeh
- 8.3.1 Overview
- 8.3.2 Tempeh: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Tofu
- 8.4.1 Overview
- 8.4.2 Tofu: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Seitan
- 8.5.1 Overview
- 8.5.2 Seitan: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)

9. Europe Meat Substitute Ingredients Market Analysis - by Application

9.1 Patties
- 9.1.1 Overview
- 9.1.2 Patties: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.2 Nuggets
- 9.2.1 Overview
- 9.2.2 Nuggets: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.3 Sausages
- 9.3.1 Overview
- 9.3.2 Sausages: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.4 Meatballs
- 9.4.1 Overview
- 9.4.2 Meatballs: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)

10. Europe Meat Substitute Ingredients Market - Country Analysis

10.1 Europe Market Overview
- 10.1.1 Europe: Meat Substitute Ingredients Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.1 Europe: Meat Substitute Ingredients Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 Germany: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.2.1 Germany: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.2.2 Germany: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.2.3 Germany: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.3 United Kingdom: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.3.1 United Kingdom: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.3.2 United Kingdom: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.3.3 United Kingdom: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.4 France: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.4.1 France: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.4.2 France: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.4.3 France: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.5 Italy: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.5.1 Italy: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.5.2 Italy: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.5.3 Italy: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.6 Russia: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.6.1 Russia: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.6.2 Russia: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.6.3 Russia: Meat Substitute Ingredients Market Breakdown, by Application
  - 10.1.1.7 Rest of Europe: Meat Substitute Ingredients Market - Revenue and Forecast to 2030 (US$ Million)
    - 10.1.1.7.1 Rest of Europe: Meat Substitute Ingredients Market Breakdown, by Source
    - 10.1.1.7.2 Rest of Europe: Meat Substitute Ingredients Market Breakdown, by Ingredient Type
    - 10.1.1.7.3 Rest of Europe: Meat Substitute Ingredients Market Breakdown, by Application

11. Industry Landscape

11.1 Overview
11.2 Expansion
11.3 New Product Development
11.4 Merger and Acquisition
11.5 Partnerships

12. Company Profiles

12.1 Crespel & Deiters GmbH & Co KG
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 SOTEXPRO SA
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 DuPont de Nemours Inc
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Ingredion Inc
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Wilmar International Ltd
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Archer-Daniels-Midland Co
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Kerry Group Plc
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Roquette Freres SA
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments

13. Appendix

13.1 About The Insight Partners