In Europe, Sales of Plant-Based Meat & Dairy Grew by 6% – But Price Parity Holds the Key

In Europe, sales of plant-based meat and dairy products grew by 5.5% in 2023, reaching €5.4 billion in value. Plant-based milk remained the largest category, accounting for 41% of all sales. Germany led the market, with the price gap between milk alternatives and conventional dairy shrinking, making plant-based options more affordable. Despite some decline in sales in the UK and the Netherlands, there are signs of stabilization in those markets and a rebound in sales volume.

Furthermore, categories like vegan cheese and cream alternatives saw significant growth, while others like plant-based desserts and non-dairy ice cream experienced drop-offs due to cost-of-living pressures. The key to further growth lies in achieving price parity between plant-based and animal-based products, as lower prices and higher quality are crucial in driving the success of plant-based alternatives in Europe. Policymakers and manufacturers need to focus on innovation and infrastructure to develop more affordable and appealing plant-based products to build a sustainable and healthy European food system.