UK Plant-Based Proteins on Track to Double Revenue by 2040, Report Finds

A report commissioned by ProVeg International predicts that the UK plant-based protein sector is poised for significant growth, with retail sales forecasted to double by 2040. The report projects that plant-based proteins will account for 29% of the market, up from 14% in 2025, driven by factors such as price convergence, behaviour change, and retailer action.

Meat analogues, which currently make up 80% of meat substitute sales in the UK, are expected to reach price parity with processed meat by 2028. The shift towards plant-based proteins is not only beneficial for the environment, with reductions in greenhouse gas emissions and water use, but also for health, with a projected increase in daily fiber intake and associated health benefits. The report urges UK retailers to set targets aligned with the Planetary Health Diet, disclose plant-to-animal protein ratios, and work with the government on policy reform to support this growth trend.