Meat Substitutes - Spain

Spain

Revenue in the Meat Substitutes market amounts to €172.90m in 2024. The market is expected to grow annually by 10.84% (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 €3.64 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 18.22m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 9.8% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.2kg in 2024.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Meat Substitutes Market in Spain is experiencing subdued growth due to factors such as consumer preference for traditional meat products, limited availability of substitutes, and challenges in replicating the taste and texture of meat. Despite these challenges, the market is expected to grow as health and environmental concerns drive demand for meat alternatives.

Customer preferences: As more consumers prioritize health and environmental concerns, there is a growing demand for plant-based meat substitutes in the Spanish market. This trend is further fueled by the increasing popularity of flexitarian and vegetarian diets. Additionally, the rise of veganism and the availability of more diverse and flavorful meat alternatives are also driving the growth of the meat substitutes market. This shift in consumer preferences highlights a growing interest in sustainable and healthier food choices.

Trends in the market: In Spain, the Meat Substitutes Market is experiencing a surge in demand, driven by a growing number of consumers adopting flexitarian and plant-based diets. This trend is particularly evident in the younger demographic, who are increasingly conscious of the environmental and health benefits of reducing meat consumption. As a result, major players in the Meat Market are expanding their product portfolios to include meat alternatives, while new startups are entering the market with innovative plant-based products. This trend is expected to continue, with industry experts predicting a significant growth in the Meat Substitutes Market over the next few years. This presents a significant opportunity for stakeholders in the Meat Market, who can capitalize on the growing demand for meat alternatives by diversifying their product offerings and targeting the flexitarian and plant-based consumer segments. Additionally, this trend also has far-reaching implications for the meat industry as a whole, as it puts pressure on traditional meat producers to adapt their practices and shift towards more sustainable and ethical production methods.

Local special circumstances: In Spain, the Meat Substitutes Market within The Food market is influenced by the country's strong cultural ties to meat consumption. However, there is a growing trend towards vegetarian and vegan diets, driven by environmental concerns and health consciousness. This has led to an increase in demand for meat substitutes, especially in urban areas. Additionally, the Spanish government has implemented regulations promoting the consumption of plant-based products, further driving market growth. This unique combination of cultural and regulatory factors sets Spain apart from other markets and shapes the dynamics of the Meat Substitutes Market within The Food market.

Underlying macroeconomic factors: The Meat Substitutes Market of the Meat Market within The Food market is also affected by macroeconomic factors in Spain. The country's economic health and fiscal policies play a significant role in the growth of this market. Additionally, global economic trends, such as the increasing demand for sustainable and plant-based food options, are also driving the growth of the Meat Substitutes Market in Spain. Moreover, the government's initiatives to promote healthy eating habits and reduce meat consumption are further propelling the adoption of meat substitutes. Furthermore, the rising awareness about the environmental impact of meat production and the growing trend of veganism are contributing to the growth of this market in Spain. Overall, the combination of favorable economic conditions and shifting consumer preferences towards healthier and more sustainable food options is driving the growth of the Meat Substitutes Market in Spain.

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.