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MARKET OUTLOOK

A report by Triton Market Research insinuates that the plant-based food and beverage market in Europe is likely to progress with a CAGR of 8.76% between the forecast years 2021-2028. The United Kingdom, Spain, Germany, France, Russia, Italy, and Rest of Europe together shape the market in this region.

Veganism is becoming increasingly popular in France, with 30% of the consumers making efforts to reduce their meat consumption. Animal care activists in the country are working relentlessly to spread awareness among people, which has resulted in the reduced meat consumption.

In 2017, Danone acquired WhiteWave, a US-based organic food producer, for $12.5 billion. In February 2021, the company entered into the agreement to acquire another US-based company, Earth Island, a plant-based foods specialist.

In February 2020, Limagrain, an agricultural cooperative, announced its plans to launch a new legumes business aimed at delivering plant-based food products, in order to tap on to the fast-growing plant protein sector and the rising trend of eating less red meat. A month later, The Bel Group signed an agreement to acquire the French startup All in Foods, which owns the Nature & Moi brand, to add more products to its range of 100% plant-based products to its current product portfolio. Therefore, the growing adoption of plant-based options is expected to fuel the growth of the market in France in the coming years.

COMPETITIVE OUTLOOK

Some of the players dominating the plant-based food and beverage market include Amy’s Kitchen, Moving Mountains, Pacific Foods Of Oregon, Sweet Earth Inc, Morningstar Farms, Conagra Brands, Blue Diamond Growers, Sunfed, and Field Roast Grain Meat Co Inc.