Meat Substitutes - United Kingdom

United Kingdom

Revenue in the Meat Substitutes market amounts to €0.67bn in 2024. The market is expected to grow annually by 2.82% (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 €9.92 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 62.57m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 0.3% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.9kg in 2024.

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

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Analyst Opinion

The Meat Substitutes Market in the UK is facing negligible growth, influenced by factors such as limited consumer awareness and the preference for traditional meat products. Despite this, there is potential for growth through increasing health consciousness and the convenience of plant-based options.

Customer preferences: As consumers become more health-conscious and environmentally aware, there has been a notable increase in demand for plant-based and sustainable meat alternatives. This trend is particularly prevalent among younger demographics, who are seeking out ethical and sustainable food options. In addition, the rise of vegetarian and vegan diets, as well as the increasing availability of meat-free options at restaurants and supermarkets, has also contributed to the growth of the Meat Substitutes Market within The Food market in the UK.

Trends in the market: In the United Kingdom, the Meat Substitutes market is experiencing a surge in demand, driven by a growing trend towards plant-based diets and increasing awareness of the environmental and health benefits of reducing meat consumption. This trend is expected to continue, with a projected CAGR of 5.4% in the next five years. This presents opportunities for industry stakeholders to innovate and expand their product offerings to cater to this growing market. Additionally, the shift towards sustainable and ethical consumption is also driving the adoption of meat substitutes, as consumers become more conscious of the impact of their food choices on the environment. This trend is expected to have a significant impact on the Meat Market within The Food market, as it could potentially disrupt the traditional meat industry and create new market opportunities for meat substitute manufacturers.

Local special circumstances: In the United Kingdom, the Meat Substitutes Market is experiencing a surge in demand due to the increasing number of flexitarians and vegetarians. This trend is driven by a growing awareness of the environmental impact of meat consumption and the health benefits of plant-based diets. Additionally, the UK government's initiatives to reduce meat consumption for sustainability purposes have further boosted the market. Furthermore, the cultural shift towards more environmentally conscious and health-conscious lifestyles has led to a rise in the availability and popularity of meat substitute products in the country.

Underlying macroeconomic factors: The Meat Substitutes Market in the United Kingdom is largely affected by macroeconomic factors such as consumer preferences, government regulations, and economic conditions. With increasing concerns over health, sustainability, and animal welfare, there has been a growing demand for plant-based alternatives to meat products. This trend is further supported by government initiatives promoting healthy and sustainable diets, as well as regulations that aim to reduce the environmental impact of the meat industry. Moreover, the economic downturn caused by the COVID-19 pandemic has also led to a shift towards more affordable and sustainable food options, boosting the growth of the Meat Substitutes Market. However, challenges such as high production costs and limited availability of raw materials may hinder the market's 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.