Europe Vegan Food Market

Market Overview:

The Europe vegan food market size reached US$ 4.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.10% during 2024-2032. The convergence of ethical, environmental, health, and societal factors. As more individuals recognize the potential benefits of adopting a plant-based diet, the demand for innovative vegan products continues to surge represent some of the key factors driving the market.

Vegan food refers to a dietary approach that excludes all animal-derived products, encompassing meat, dairy, eggs, and even honey. It emphasizes plant-based foods, such as fruits, vegetables, legumes, grains, nuts, and seeds. This diet is adopted by individuals who seek to avoid the use of animals for food consumption due to ethical, environmental, or health reasons. Veganism has gained traction as a sustainable lifestyle choice, resonating with those concerned about animal welfare and the environmental impact of animal agriculture. By avoiding animal products, proponents of veganism aim to reduce greenhouse gas emissions, water consumption, and deforestation associated with the production of conventional animal-based foods. Moreover, scientific studies suggest that well-balanced vegan diets can provide essential nutrients like protein, fiber, vitamins, and minerals.

Europe Vegan Food Market Trends:

A rising awareness of health and wellness has motivated European consumers to adopt diets rich in plant-based foods. Veganism is perceived as a way to reduce the risk of chronic diseases like heart disease, diabetes, and certain cancers. The high nutritional content of plant-based diets, including fiber, antioxidants, and essential vitamins, resonates with health-conscious individuals. Additionally, the European population is increasingly attuned to environmental sustainability and ethical considerations. The livestock sector is a significant contributor to greenhouse gas emissions, deforestation, and water consumption. Consumers are seeking alternatives that have a lower ecological footprint, making veganism an appealing choice to minimize their impact on the environment. Other than this, heightened awareness of animal welfare issues has driven many Europeans to reconsider their dietary choices. Documentaries and campaigns exposing the harsh realities of factory farming have stirred public sentiment, pushing consumers toward plant-based diets that avoid contributing to animal exploitation. Besides this, the evolution of vegan cuisine has led to a wide array of delectable options, dispelling the notion that plant-based diets are restrictive or lacking flavor. European cities now boast a plethora of vegan restaurants, cafes, and food festivals, making veganism more accessible and culturally integrated. In line with this, influential personalities, including celebrities and social media influencers, have played a pivotal role in popularizing veganism. Their endorsements and advocacy efforts have contributed to shifting public perceptions and normalizing plant-based eating. Furthermore, several European countries are promoting sustainable and healthy eating by taking several initiatives, including tax incentives, food labeling regulations, and campaigns aimed at reducing meat consumption, indirectly bolstering the demand for vegan options. Moreover, advances in food technology have led to the development of sophisticated plant-based meat and dairy alternatives. These products closely mimic the taste and texture of animal-derived counterparts, appealing to both vegans and flexitarians seeking to reduce their meat consumption.

Europe Vegan Food Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Europe vegan food market report, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on the product, source, and distribution channel.

Product Insights:

• Dairy alternatives
  • Cheese
  • Desserts
  • Snacks
  • Others
• Meat substitutes
  • Tofu
  • Texturized vegetable protein (TVP)
  • Seiten
  • Quorn
  • Others
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes dairy alternatives (cheese, desserts, snacks, and others), meat substitutes (tofu, texturized vegetable protein (TVP), seiten, Quorn, and other), and others.

Source Insights:

• Almond
• Soy
• Oats
• Wheat
• Others
   

A detailed breakup and analysis of the market based on the source has also been provided in the report. This includes almond, soy, oats, wheat, and others.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience stores
• Specialty stores
• Online stores
• Others
   

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.

Country Insights:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Germany, France, the United Kingdom, Italy, Spain, and others.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Europe Vegan Food Market Report Coverage:

Key Questions Answered in This Report:

• How has the Europe vegan food market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe vegan food market?
• What is the breakup of the Europe vegan food market on the basis of product?
• What is the breakup of the Europe vegan food market on the basis of source?
• What is the breakup of the Europe vegan food market on the basis of distribution channel?
• What are the various stages in the value chain of the Europe vegan food market?
• What are the key driving factors and challenges in the Europe vegan food market?
• What is the structure of the Europe vegan food market and who are the key players?
• What is the degree of competition in the Europe vegan food market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe vegan food market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Europe vegan food market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe vegan food industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.