In some supermarkets, plant-based foods have been losing shelf space due to concerns over a perceived slowdown in growth. But is this really the end of the plant-based movement? Not at all, says ProVeg International. While some retailers hesitate, others are doubling down – and reaping the benefits.
Lidl GB, for instance, recently introduced 28 new plant-based products and aims for 25% of total protein sales to come from plant-based sources by 2030. Their strategy reflects a broader reality: the plant-based market is evolving, not disappearing. As consumer habits shift and sustainability becomes an ever-greater priority, expanding your plant-based range is a smart business move.
The market is maturing, not declining
Despite economic challenges, the plant-based food sector continues to grow. In 2023, European plant-based food sales across six major markets hit EUR 5.4 billion – a 5.5% increase from the previous year. Volume sales also rose by 3.5%, with Germany leading the charge at 11% growth. Meanwhile, the global plant-based food market expanded from USD 25 billion in 2023 to USD 27.8 billion in 2024, with continued growth projected.
Experts emphasise that this is a phase of industry maturation, not decline. “The industry is simmering down, not burning out. Like any emerging sector, this is a healthy recalibration, separating the true potential from the hype,” explains Albrecht Wolfmeyer, Director at the ProVeg Incubator. And certain product categories – like dairy-free milk, forecast to reach USD 37.86 billion by 2029 – are thriving even more.
Consumers want more plant-based choices
Consumer demand for plant-based products remains strong. Over half of European consumers reduced their meat intake in 2023, and flexitarianism is on the rise, with 37% of Americans now identifying as flexitarian. In China, 15% of consumers drink plant-based beverages daily, and in Brazil, a growing segment is turning to plant-based milk for athletic recovery.
Tesco UK has seen this trend firsthand. While the initial plant-based boom may have stabilised, demand for specific meat-free ingredients and whole-cut alternatives is surging. In the run-up to Valentine’s Day 2024, for example, consumer demand for Juicy Marbles’ plant-based steak was so strong that Tesco sold 100,000 units.
Health: a key driver for plant-based growth
Health-conscious consumers are driving the demand for plant-based foods. Studies show that plant-based diets are linked to lower risks of heart disease, diabetes, and certain cancers. In Europe, 47% of consumers reduce their meat intake primarily for health reasons, and in the US, that figure rises to 60%.
Fibre is another major draw. With increased interest in gut health, consumers are seeking high-fibre foods, and plant-based options naturally fit the bill. This aligns with growing wellness trends and positions plant-based products as essential for a balanced diet.
By stocking more plant-based foods, retailers can cater to this health-conscious demographic, offering products that support long-term well-being while aligning with modern dietary preferences.
The bottom line
The second phase of the plant-based revolution is here. Today’s consumers want better-tasting, price-competitive, and more nutritious plant-based options. By expanding your offerings, you can tap into this growing market while strengthening your sustainability credentials and brand positioning.
Want to learn more about the long-term benefits of plant-based expansion? Read the full article on ProVeg’s New Food Hub and contact ProVeg’s experts at [email protected].
