Vegan product alternatives with the highest growth potential
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According to a consumer survey in nine European countries, the desire for good vegan substitutes for cheese is particularly high. But the demand is also growing for other plant-based product groups.
In a study conducted by the vegan nutrition organisation Proveg, 6,221 consumers from nine European countries, including Germany, France and Great Britain, were asked about their eating habits. As reported by a press release, target groups were vegetarians and vegans on the one hand and flexitarians on the other. The analysis shows which plant-based alternative products are still expandable or missing on the shelves and thus offer the greatest growth potential.
Most requested vegan products:
Vegetable cheese alternatives offer manufacturers "enormous growth opportunities"
the respondents complained that there are currently not enough vegan cheese substitutes on the food shelves. A total of 19 percent also stated that they either did not like the existing range or the consistency/texture of products. Verena Wiederkehr, Head of the Food Industry and Retail Division of Proveg Germany, advises food manufacturers to expand their range in this respect and to pay particular attention to the taste, texture and price-performance ratio of the products. "If you crack the cheese code in terms of taste and texture, you can expect growth rates in the two to three digit range," says Wiederkehr.
Doubling of the meat alternatives market value by 2025
The market research company Marketsandmarkets currently estimates the value of the product category meat alternatives at 12.1 bn US dollars. For the next five years, the company expects annual growth rates of 15 percent, so that it will then reach around 28 bn US dollars. By comparison, management consultancy Kearney anticipates an annual growth of only three percent for the international meat market.
The potential is particularly high among flexitarians who claim to want to reduce their consumption of meat and other animal products. In Germany, according to a current Forsa survey, 45 million German consumers, around 55 percent of the total population, are flexitarians.
Supply gap also for alternative egg and fish products
The consumption rate for vegetable substitutes for egg and fish is currently still less than one fifth among flexitarians. In both segments there is an imbalance between supply and demand, as there are only a few producers and competition is low, explains Wiederkehr, who also predicts that both product groups have great growth opportunities in the coming years.