THE NETHERLANDS, Utrecht. Growth: yes. But on a small scale. An analysis by Dutch market experts.
Although the market for alternative proteins for meat, milk and dairy products in the European Union and the United Kingdom is expected to grow significantly in the coming years, the respective shares in the volume consumption of animal products will still remain below the double-digit percentage range in each case. At least this is the assumption made by Rabobank in a recent study on these segments.
According to the analysts from Rabobank, the consumption share of meat substitutes in the Community is expected to increase by 3.5 percentage points to 4% by 2035 compared to 2020. The market volume of alternative meat products is estimated at 214,000 t in 2020. By 2035, annual sales are expected to increase to 1.5 mill. t, according to the study. In this context, the analysts expect average annual growth of 15%.
Rabobank estimates consumption of alternative dairy products in the EU-28 at more than 1.5 mill. t in 2020. By 2035, this volume is expected to grow to almost 4.4 mill. t; that would represent an average annual increase of 7 to 8%. This would increase the share of substitutes in the total dairy market by 6 percentage points to 9%.