As you’ll read in this edition of the Frozen Food Dossier, which you can access here, plant-based consumption is slowly but surely approaching levels that turn these products into so-called ‘staple’ foods.
Germany, the largest plant-based market in Europe has reached a value of EUR2.2bn, which is at the very least encouraging. Similarly, markets in France, Italy, and Spain have seen increases, albeit mostly modest ones.
What should be noticed is the percentage of plant-based buyers: in Germany, 37% of those interviewed by Circana said they purchased meat alternatives at least once in 2023, a higher figure than in previous years. In Spain, that percentage stood at 20 – still a decent number for a country that loves traditional meat products.
As Good Food Institute Europe’s analysis points out, while plant-based products still represent a small slice of Europe’s overall grocery market, the data suggests the potential for broader adoption remains intact, especially if or when manufacturers will focus on the longstanding concerns over cost and flavor.
Another issue that remains to be tackled is price. Plant-based products have historically been more expensive and as such more prone to inflationary risks. Manufacturers, distributors, and retailers have occasionally addressed this, and when they have, markets have responded positively.
Product development is also key here and represents a segment where plant-based, regardless of category, can truly thrive – and generally has.
So, where is the market headed? Will we see plant-based products become something that consumers buy on every shopping journey? Not likely, at least not for the foreseeable future. But sales will increase, and research tied to taste and flavor will intensify, which in turn will generate even more innovation in terms of products.
How do you see the future of plant-based? Let me know at bogdan.angheluta@trade.media