Meat Substitutes - Denmark

Denmark

Revenue in the Meat Substitutes market amounts to €56.45m in 2024. The market is expected to grow annually by 8.37% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€2,198m in 2024).
In relation to total population figures, per person revenues of €9.50 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 4.82m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 6.5% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.6kg in 2024.

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

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Analyst Opinion

The Meat Substitutes Market in Denmark is experiencing minimal growth, impacted by factors such as consumer preference for traditional meat products and limited availability of plant-based options. Despite this, the market shows potential for growth due to increasing health awareness and the convenience of alternative meat products.

Customer preferences: Consumers in Denmark are increasingly adopting a flexitarian diet, driven by concerns over sustainability and animal welfare. This has led to a growing demand for meat substitutes within the meat market. Additionally, the rise of plant-based diets and the availability of innovative and tasty meat alternatives have also contributed to the growth of the meat substitutes market. This trend is likely to continue as more individuals become aware of the health and environmental benefits of reducing their meat consumption.

Trends in the market: In Denmark, the Meat Substitutes Market within the Meat Market is experiencing a surge in demand, driven by the growing trend of plant-based diets and increasing concerns over the environmental impact of traditional meat production. This trend is expected to continue on a steep trajectory, as more consumers turn to meat alternatives for health and sustainability reasons. As a result, industry stakeholders are investing in research and development to improve the taste and texture of meat substitutes, while also expanding their product offerings to cater to a wider range of dietary preferences. This could have significant implications for the traditional meat industry, as well as for the overall food market, as consumers become more conscious of their food choices.

Local special circumstances: In Denmark, the Meat Substitutes Market is driven by the country's strong focus on sustainability and health-consciousness. The government has implemented regulations to promote plant-based diets and reduce meat consumption, leading to the popularity of meat substitutes. Additionally, the country's high per capita income and trend towards flexitarianism have also contributed to the growth of the market. Denmark's strong agricultural industry and advanced food technology sector have also enabled the development of high-quality and innovative meat alternatives.

Underlying macroeconomic factors: The Meat Substitutes Market in Denmark is influenced by macroeconomic factors such as consumer health consciousness, government support for sustainable food production, and changing dietary preferences. Denmark has a strong economy and a high standard of living, which has led to an increase in demand for healthier and more environmentally friendly food options. Additionally, the country has implemented policies to reduce meat consumption and promote plant-based diets, creating a favorable market environment for meat substitutes. The growing global trend towards sustainable and ethical food choices is also a key driver of the market, as consumers in Denmark prioritize sustainability and animal welfare in their purchasing decisions.

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.