Studies & Numbers

Veganism Presents “Major Business Opportunities” in Spain

A recent consumer survey on plant-based alternatives in Spain conducted by ProVeg, aimed to identify priorities for improvement and development of plant-based products, yielding some very interesting conclusions for those interested in developing or distributing new plant-based alternatives. Among the results, plant-based alternatives to cheese, seafood and eggs represent the biggest opportunities.

The survey is the first study of its kind to be carried out in Spain and involved consumers living in Spain. Its objective was to understand the opinions and experiences of consumers about the plant-based products available on the market today, and those interested in finding this type of food.

For this reason, the target group chosen was people who are reducetarians and those who follow a plant-based diet. This profile is highly familiar with this sector and their opinions carry a lot of weight. Food producers and retailers can use the findings of this survey to shape their product portfolio in a way that is more in line with the growing consumer demand for plant-based products.

Terra Nostra
Terra Nostra

Milk and meat lead the way

The results show that the highest consumption rate of plant-based alternatives in Spain is for plant-based alternatives to milk (92%), which is not surprising given their price and availability. In second place are plant-based alternatives to meat (84%) and then plant-based alternatives to yogurt (67%).

They are followed by other products with lower consumption rates (thus implying that there is room for growth in the market) such as plant-based alternatives to cheese (43%), ice cream (36%), butter and/or margarine (35%); other alternatives to meat, fish and seafood (32%), sauces and dressings (30%), chocolates and confectionery (26%); and others with even lower consumption rates.

Mimic Seafood
Image: Mimic Seafood

The survey, which was conducted between September and December 2020, shows that there is a large growth opportunity for the development and launch of new plant-based products in multiple food categories. According to ProVeg, although demand is significant, these products are under-represented in the current Spanish market. Supply and industry are still at a relatively early stage in terms of market penetration, so there is considerable scope for further growth.

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