Report: ‘This is the best time for meat producers to enter the plant-based meat area‘
A new report by Proveg, published some time ago at the international meat fair IFFA, reveals the opportunities animal meat producers can seize in the booming plant-based meat industry.
The report, published by food awareness group ProVeg International, says the plant-based meat industry presents a huge opportunity for traditional animal meat companies – European plant-based meat sales reached €1.4 billion in 2020, an increase over the past two years. 68%.
Key insights from the report include:
- 90% of plant-based food consumers are flexitarian, not vegetarian
- Taste and price are key drivers of consumer demand
- The leading plant-based category in the market is the plant-based burger patty segment
- The UK leads the European market, followed by Germany and the Netherlands
- Germany leads the European market in terms of growth rate, followed by Austria
In the report’s conclusion, ProVeg made several key recommendations, including: getting meat producers into the plant-based market and directing marketing to flexitarians, who are by far the largest, and therefore most important, consumer group.
Stephanie Jaczniakowska-McGirr, International Head of Food and Retail at ProVeg, said:
“Now is the perfect time for meat producers to consider entering the plant-based meat industry. The opportunities are enormous and we hope our free report this week will make that clear.”