Europe Plant-based Food And Beverage Market 2023-2030

Europe Plant-based Food And Beverage Market 2023-2030

MARKET OUTLOOK

According to a report by Triton Market Research, the European plant-based food and beverage market is expected to grow significantly in value terms, with a CAGR of 10.91% from 2023 to 2030. The report focuses on several countries within the region, including the United Kingdom, the Nordic countries, Germany, Spain, Italy, France, and the Rest of Europe.

The market for plant-based food and beverage in the United Kingdom is driven by health consciousness, weight management, animal welfare, environmental issues, and concerns about antibiotics. People are increasingly adopting the ‘flexitarian’ diets— cutting down on meat and dairy while eating more plant-based foods. As a result, the plant-based food and beverage market is experiencing significant growth.

Likewise, the French population has become increasingly conscious of their food choices, leading to demand for plant-based alternatives. In this regard, the country has introduced a national vegetable protein strategy to increase the domestic production of plant-based proteins for feed and human consumption. This initiative is a significant step towards promoting agricultural sovereignty and sustainability, highlighting the country's progress in the plant-based food and beverage market.

COMPETITIVE OUTLOOK

The key players in the plant-based food and beverage market include Hain Celestial Group Inc, Amy's Kitchen Inc, Daiya Foods Inc, Meatless Farm, Impossible Foods Inc, Campbell Soup Company, Nestlé SA, Conagra Brands Inc, and KeVita Inc Inc.