Report : Europe Plant-Based Ham Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Slices and Strips, Rolls, and Roasts) and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
At 11.7% CAGR, the Europe Plant-Based Ham Market is speculated to be worth US$ 419.66 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe plant-based ham market was valued at US$ 215.62 million in 2022 and is expected to reach US$ 419.66 million by 2028, registering a CAGR of 11.7% from 2022 to 2028. Switch to vegetarianism and veganism and surging demand in developed economies are the critical factors attributed to the Europe plant-based ham market expansion.
Many dieticians and health practitioners recommend reducing meat consumption and switching to a vegetarian diet to reduce the risks of chronic health issues, such as obesity, heart diseases, hypertension, and digestive disorders. According to Google Trends, veganism was one of the top 5 searched terms on Google in 2019 in the UK and across the world. A report published by Veganuary (a nonprofit organization that encourages individuals worldwide to turn vegan for the whole month of January) states that ~5.8 million people signed up for the Veganuary Campaign in 2021. Recently, the rising health concerns among people due to the increasing prevalence of obesity, diabetes, and other diseases are compelling people to change their dietary habits. Plant-based ham is generally perceived to be healthier than their animal-based counterparts. Plant-based ham has lower saturated fat and calorie content than conventional ham. The increasing adoption of veganism is also attributed to the empathy toward animals and awareness of the ill-treatment of animals in slaughterhouses and similar facilities, which has raised concerns about animal protection among consumers. These factors are boosting the consumption of plant-based ham. Thus, a switch to veganism and vegetarianism is bolstering the Europe plant-based ham market.
On the contrary, limited availability in emerging economies hurdles the growth of Europe plant-based ham market .
Based on product type, the Europe plant-based ham market is segmented into slices and strips, rolls, and roasts. The slices and strips segment held 56.7% share of Europe Plant-based ham market in 2022, amassing US$ 122.29 million. It is projected to garner US$ 238.44 million by 2028 to expand at 11.8% CAGR during 2022–2028.
Based on distribution channel, the Europe plant-based ham market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held 54.3% share of Europe Plant-based ham market in 2022, amassing US$ 117.09 million. It is projected to garner US$ 225.48 million by 2028 to expand at 11.5% CAGR during 2022–2028.
Based on country, the Europe plant-based ham market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 27.0% share of Europe plant-based ham market in 2022. It was assessed at US$ 58.28 million in 2022 and is likely to hit US$ 101.46 million by 2028, exhibiting a CAGR of 9.7% during the forecast period.
Key players profiles in the Europe Plant-based ham market report are Hain Celestial Canada ULC; Meliora Foods Pty Ltd; Nestle SA; Quorn Foods Ltd; and VBites Foods Ltd, among others.
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