Meat Substitutes - Austria

Austria

Revenue in the Meat Substitutes market amounts to €45.91m in 2024. The market is expected to grow annually by 10.74% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€2,175m in 2024).
In relation to total population figures, per person revenues of €5.03 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 4.28m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 10.3% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.3kg in 2024.

Key regions: Spain, Russia, United Kingdom, South Korea, India

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Región

Comparación de regiones

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Analyst Opinion

The Meat Substitutes Market in Austria is experiencing subdued growth due to factors such as increasing health awareness among consumers, convenience offered by online services, and the rise in demand for plant-based alternatives in the overall Meat Market within The Food market.

Customer preferences: Consumers in Austria are increasingly turning towards meat substitutes as a healthier and more sustainable alternative to traditional meat products. This trend is fueled by a growing awareness of the environmental impact of meat production and the health benefits of plant-based diets. Additionally, the rise of vegetarian and vegan lifestyles among younger demographics has also contributed to the growth of the meat substitutes market. As a result, food companies are now investing in innovative plant-based products to cater to this shifting consumer preference.

Trends in the market: In Austria, the Meat Substitutes market is experiencing a surge in demand due to the rising trend of plant-based diets. This trend is driven by increasing awareness of the environmental and health benefits of reducing meat consumption. As a result, major food companies are investing in developing and promoting meat alternatives, and supermarkets are expanding their plant-based product offerings. This trajectory is significant as it has the potential to reshape the Meat Market within The Food market industry in Austria. It could lead to a decrease in demand for traditional meat products and create opportunities for new players in the market. Additionally, this trend could also have implications for the agriculture industry and sustainability efforts, as it reduces the environmental impact of meat production.

Local special circumstances: In Austria, the Meat Substitutes Market is driven by the country's long-standing cultural emphasis on sustainability and eco-friendliness. This has led to an increase in demand for plant-based protein options, as well as government policies promoting a reduction in meat consumption. Additionally, the country's mountainous terrain and limited arable land make it difficult to produce large amounts of meat, leading to a higher reliance on meat substitutes. These factors have created a unique market dynamic, with a strong consumer base for plant-based alternatives and a limited supply of traditional meat products.

Underlying macroeconomic factors: The Meat Substitutes Market within the Meat Market of The Food market in Austria is influenced by several macroeconomic factors. Global economic trends, such as the increasing demand for plant-based protein sources, are driving the growth of the market. At the national level, Austria's strong economy and high disposable income levels are contributing to the growing demand for meat substitutes. Fiscal policies, including government initiatives to promote healthy and sustainable food choices, are also playing a role in the market's expansion. Other relevant financial indicators, such as the increasing investment in research and development of meat substitute products, are further propelling market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.