Europe Vegan Steak Market was valued at USD 1.1 Billion in 2022 and is projected to reach USD 1.8 Billion by 2030, growing at a CAGR of 6.4% from 2024 to 2030.
The European vegan steak market has experienced significant growth in recent years, driven by increasing consumer demand for plant-based alternatives. This surge is attributed to health consciousness, environmental concerns, and ethical considerations regarding animal welfare.
Several innovative companies are leading this transformation:
Vivera: In 2018, Dutch brand Vivera launched one of the first plant-based steaks, selling 40,000 units in its debut week at UK’s Tesco supermarkets. The product's popularity led to rapid expansion across Europe.
Redefine Meat: Utilizing advanced 3D-printing technology, Israel-based Redefine Meat offers hyper-realistic plant-based whole cuts, including steaks. Their products are now available in high-end restaurants across the UK, Finland, Germany, the Netherlands, France, and Austria.
Juicy Marbles: This Slovenian company introduced a plant-based filet mignon in 2021, notable for its raw and unseasoned presentation, closely mimicking traditional meat's texture and marbling.
Meatless Farm: A UK-based company that launched vegan steaks made from pea protein in 2022, now available in major retailers like Sainsbury's and Ocado.
Green Go: A Ukrainian startup producing plant-based steaks and other meat alternatives, despite challenges posed by ongoing conflicts.
NovaMeat: A Spanish company that, in 2018, produced what it claimed was the world’s first 3D-printed plant-based steak, partnering with Michelin-starred restaurants to showcase their products.
Adamo Foods: A UK-based company developing whole-cut steaks made entirely from mycelium, the root structure of fungi, with plans to launch in European restaurants soon.
Industry requirements have evolved to meet this growing demand. Companies are focusing on:
Product Innovation: Developing plant-based steaks that closely replicate the taste, texture, and appearance of traditional meat to appeal to a broader consumer base.
Regulatory Compliance: Navigating varying regulations across Europe. For instance, France has implemented laws prohibiting the use of traditional meat terms like "steak" and "sausage" for plant-based products to avoid consumer confusion. This has led to debates about market fragmentation within the EU.
Sustainability: Ensuring that production processes for vegan steaks are environmentally friendly, aligning with the ethical considerations driving consumer choices.
Supply Chain Management: Establishing robust supply chains to source quality plant-based ingredients and distribute products efficiently across diverse markets.
Consumer Education: Informing consumers about the benefits of plant-based diets and addressing misconceptions to foster acceptance and drive market growth.
As the European vegan steak market continues to expand, industries must adapt to these requirements to capitalize on the growing trend toward plant-based eating.
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Danone S.A
The Archer Daniels Midland Company
Daiya Foods Inc.
Ripple Foods Inc.
Impossible Foods Inc.
Eat Just
Inc.
Beyond Meat
Inc.
Amy's Kitchen
Tofutti Brands Inc.
Earth’s Own Food Company Inc.
Gardein
Field Roast
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Vegan Steak Market
Whole Vegan Steak
Sliced Vegan Steak
Minced Vegan Steak
Soy-based Vegan Steak
Pea Protein-based Vegan Steak
Wheat-based Vegan Steak
Rice-based Vegan Steak
Jackfruit-based Vegan Steak
Individual Consumers
Food Service Industry
Restaurants and Fast Food Chains
Retailers and Grocery Stores
Supermarkets and Hypermarkets
Online Retailers
Specialty Stores
Convenience Stores
Frozen Vegan Steak
Fresh Vegan Steak
Canned Vegan Steak
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Vegan Steak Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Vegan Steak Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Vegan Steak Market, By Type
6. Europe Vegan Steak Market, By Application
7. Europe Vegan Steak Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Vegan Steak Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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