The Europe plant-based food and beverage market is anticipated to grow at a CAGR of 9.39% during the forecast period, 2021-2028. The increasing lactose intolerance, the health benefits, and animal welfare, propel market growth.
Germany, Poland, Italy, Belgium, France, Russia, the United Kingdom, and Rest of Europe are analyzed for the Europe plant-based food and beverage market growth assessment. Vegetarianism is highest in Germany in comparison to other European countries. The German vegan culture prioritizes natural, wholesome, unprocessed, and gluten-free products. Further, Italy has a large percentage of the aging population. The lactase levels decline as people age, leading to diarrhea, stomach ache, nausea, gas, etc. Thus, there is a growing prevalence of lactose malabsorption in the aging population. Also, the major reasons for changing dietary lifestyle among vegetarians in Italy include animal welfare and health reasons.
In Belgium, the growing group of vegetarians, flexitarians, and vegans, contribute to decreasing meat consumption. The increased health concerns and shifting lifestyles are other important drivers. Lidl launched 11 new plant-based products in February 2021, in its label vegetarian and vegan range. Vegan food is gaining popularity in Poland, with increasing consumption of vegan burgers, sushi, pizza, and ramen. The domestic food market has facilitated new plant-based trends. The Dutch government prioritizes sustainable recovery. The rising interest in plant-based food and increasing flexitarians population are propelling the popularity of more plant-forward eating to the next levels. Thus, the Polish market is evaluated to present growth opportunities for plant-based meat and dairy producers. Such factors are boosting the market growth in these countries.
Some of the leading companies in the market are Danone SA, Kikkoman Corporation, Conagra Brands, Daiya Foods Inc, Morningstar Farms, etc.
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