Future Market Insights has forecasted that Europe’s plant-based meal kits market will be valued at US$ 1,067.0 million in 2023. Plant-based meal kits are composed of prepared meals (half-cooked and available in frozen, chilled, and shelf-stable forms) and meal kits (already cooked). This latest analysis concludes that total plant-based meal kit sales across Europe will have a CAGR (compound annual growth rate) of 10.1% over the forecast period, totalling a valuation of US$ 2,789.0 million by 2033.
Further key takeaways from this study are: By form, the chilled plant-based meal kits segment holds a value share of 53% of the Europe market; Based on product type, the prepared meal kit segment dominates the Europe market; The United Kingdom holds a prominent share of Europe plant-based meal kit market; With the rising trend of veganism, plant-based meal kit demand across Germany is forecast to increase at a healthy pace over the next ten years.
The top leading companies offering plant-based meal kits in Europe listed by this report are Nestlé S.A., Unilever PLC, Plamil Foods Ltd., The Meatless Farm (a subsidiary of Morten Toft Bech), HelloFresh, Purple Carrot, Plantable, Factor, Sakara Life, Freshly, Daily Harvest, and Gousto, Planty. Several of these companies also produce animal-based food obtained from animal exploitation.
A lead analyst at Future Market Insights said, “in the longer run, there is a huge scope of innovation in the field of plant-based meal kits in Europe. Hence, key companies can come up with a range of innovative products to satisfy consumers and strengthen their position in the region.”