By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Cannabis NewsCannabis News
  • Cannabis
  • CBD
  • Science
  • Culture & Arts
  • Cannabis Press Releases
  • More
    • About Maryjanes Post
    • Cannabis Advertising
    • Cannabis Partnerships
Reading: Europe Plant-Based Food and Beverage Market is Projected to Grow at a CAGR of over 8.87% During 2022-2027 – ResearchAndMarkets.com
Share
Aa
Aa
Cannabis NewsCannabis News
Search
  • Topics
    • Business
    • Cannabis
    • Cannabis Tech
    • Culture & Arts
    • Industry Leaders
    • Cannabis Press Releases
  • Topics
    • Business
    • Cannabis
    • Cannabis Tech
    • Culture & Arts
    • Industry Leaders
    • Cannabis Press Releases
  • About Maryjanes Post
    • Ambassador
    • Cannabis Partnerships
Follow US
  • Ad Choices
  • RSS Terms of Service
© 2018 - 2022 MaryJanes Post Media. All Rights Reserved.
Cannabis News > Cannabis Press Releases > Europe Plant-Based Food and Beverage Market is Projected to Grow at a CAGR of over 8.87% During 2022-2027 – ResearchAndMarkets.com
Cannabis Press Releases

Europe Plant-Based Food and Beverage Market is Projected to Grow at a CAGR of over 8.87% During 2022-2027 – ResearchAndMarkets.com

Business Wire
Last updated: 2022/02/23 at 1:59 PM
Business Wire Published February 23, 2022
Share
SHARE

DUBLIN–(BUSINESS WIRE)–The “Europe Plant-Based Food and Beverage Market – Growth, Trends and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

logo Cannabis Media & PR

Europe plant-based food and beverage market is projected to grow at a CAGR of 8.87% during the forecast period (2022-2027).

Key Highlights

  • The gaining popularity of vegan diet and incidences of lactose intolerance are driving the market for plant-based food and beverages in Europe.
  • The rising consumer awareness regarding the negative impact of the consumption of meat on health is leading to a shift toward vegan diet. Additionally, benefits of cholesterol-free protein, with meat-like texture, are one of those key factors promoting the growth of plant-based food and beverages.
  • Increased launch of unconventional dairy alternative products, such as hemp, pea, and cashew milk, is an optimistic development for the market, and this is expected to drive the market in the future, as most of the manufacturers are making developments in the sector. Furthermore, there is a significant improvement, in terms of media coverage, which is primarily in line with the increase in new product developments and the demand for products.
  • The comparatively high prices of dairy alternatives, however, pose a challenge to the market. The presence of nutritionally equivalent alternatives for a lower price affects consumer behavior and refrains the purchase of dairy alternatives.

Key Market Trends

Rising Popularity of Vegan and Vegetarian Diets

Companies are appealing to a growing base of flexitarians who are striving to introduce more plant-based foods into their diets. According to the European Vegetarian Union, as of 2017, 10% of German consumers (7.8 million individuals) were vegetarians, and 1.1% were vegans (900,000 individuals).

In the study, “Prevalence of Persons Following a Vegetarian Diet in Germany,” conducted in 2016, 6.1% of women were vegetarian/vegan compared to only 2.5% of men. Among 18 to 29-year-olds, 9.2% of women and 5.0% were vegetarian/vegan. Another segment is the lactose-intolerant consumers, who demand dairy alternatives due to their “impaired ability to digest lactose, a sugar found in milk and other dairy products,” as per the National Institutes of Health (NIH).

Lactose tolerance is exceptionally widespread in Northern European countries such as Sweden and Finland. Turkey, Italy, Germany, and Spain were also recorded to have some of the highest numbers of lactose-intolerant consumers.

Thus, the target market for plant-based food and beverage is not limited to vegans but includes a vast majority of consumers, including flexitarians, lactose-intolerant consumers, and even consumers looking for clean-label food and beverage options.

Germany is the Largest Market

Germany has a growing vegan and vegetarian population, with nearly 10% of the population sticking to a vegetarian diet- one of the highest rates in Europe. Germany has gone so far as to create legal definitions of vegan and vegetarian for food labeling.

To be defined as vegan, foods must not be of animal origin or contain ingredients, processing aids, or other substances of any animal origin. Vegetarian goods have the same restrictions as vegan ones except that they may contain milk, colostrum, eggs, honey, beeswax, propolis, or wool grease.

For instance, at the end of 2018, the German food book Commission published new guidelines for vegan and vegetarian food. These new principles reflect manufacturing, commercial practices, and consumer expectations with respect to vegan and vegetarian food products that have a sensory similarity to products of animal origin. Thus, contributing to the market studied.

Companies Mentioned

  • Danone SA
  • Blue Diamond Growers
  • Campbell Soup Company
  • Hain Celestial Group
  • Conagra Brands Inc.
  • AMIDORI Food Company GmbH & Co. KG
  • Beyond Meat Inc.
  • Nestle SA

     

For more information about this report visit https://www.researchandmarkets.com/r/bgm61w

Contacts

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

You Might Also Like

 Flower One Obtains Meeting Order Under the Companies’ Creditors Arrangement Act (Canada)

United States Alternative Adult Beverages Market Report 2022: The Burgeoning Adult Beverage Segment Expanding the Adult Beverage Horizon – ResearchAndMarkets.com

Global Cannabidiol Market Report 2022: Growing Acceptance and Use of Products Due to Government Approvals Drives Sector – ResearchAndMarkets.com

Organigram Launches HOLY MOUNTAIN to Further Support Its Strong Position in the Dried Flower and Hash Categories

Leafly to Participate at Upcoming Investor Conferences

TAGGED: Business Wire
Business Wire February 23, 2022
Share this Article
Twitter Reddit Email Copy Link
Previous Article Gibraltar Announces Fourth Quarter and 2021 Financial Results
Next Article MyMD Pharmaceuticals Enrolls First Patient in Phase 2 Clinical Trial of MYMD-1 as a Therapy for Delaying Aging and Extending Healthy Lifespan

Cannabis News and More

Work with an experienced cannabis media firm to provide your brand with the exposure it needs.

Cannabis Topics

  • Cannabis
  • Business
  • CBD
  • Cannabis Science
  • Culture & Arts

Company

  • About Maryjanes Post
  • Contact Cannabis Media
  • Contributor Guidelines

Terms of Use

  • TERMS
  • PRIVACY
  • CONTRIBUTOR AGREEMENT
  • DMCA

Resources

  • Write For UsNew
  • Media KitNew
  • Cannabis Advertising
  • Cannabis Partnerships
  • Cannabis Press ReleaseNew
Cannabis NewsCannabis News
Follow US

© 2018 - 2022 MaryJanes Post Media. All Rights Reserved.

  • Ad Choices
  • RSS Terms of Service
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?