Meat Substitutes - Africa

Africa

Revenue in the Meat Substitutes market amounts to €113.90m in 2024. The market is expected to grow annually by 14.55% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€2,175m in 2024).
In relation to total population figures, per person revenues of €0.09 are generated in 2024.
In the Meat Substitutes market, volume is expected to amount to 10.93m kg by 2029. The Meat Substitutes market is expected to show a volume growth of 10.4% in 2025.
The average volume per person in the Meat Substitutes market is expected to amount to 0.0kg in 2024.

Key regions: Spain, Russia, United Kingdom, South Korea, India

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Meat Substitutes Market in Africa is experiencing mild growth, fueled by factors such as increasing demand for alternative protein sources, health consciousness, and convenience of plant-based options. This trend is expected to continue due to growing population and changing dietary preferences.

Customer preferences: As the demand for healthier and more sustainable food options grows, the Meat Substitutes Market in Africa has seen a rise in consumer interest. This trend is particularly evident among the younger generation who are more health-conscious and environmentally aware. With a significant increase in vegetarian and vegan diets, there is also a growing demand for plant-based protein alternatives, such as soy and pea-based products. This shift towards a more plant-based diet is also influenced by cultural and religious factors, as well as a desire for more ethical and sustainable food choices.

Trends in the market: In Africa, the Meat Substitutes Market in the Meat Market of The Food market is seeing a surge in demand for plant-based protein alternatives. This trend is driven by the rising awareness of the health and environmental benefits of reducing meat consumption. Companies are investing in R&D to develop innovative, tasty and affordable meat substitutes to cater to this growing demand. This shift towards plant-based diets is expected to have a significant impact on the meat industry, with potential implications for stakeholders such as meat producers, retailers, and foodservice providers.

Local special circumstances: In Africa, the Meat Substitutes Market within the Meat Market of The Food market is heavily influenced by traditional dietary preferences and cultural beliefs. Many African countries have a large population of vegetarians and vegans due to cultural and religious reasons, which has created a demand for plant-based meat substitutes. Additionally, the growing health consciousness and concerns about animal welfare have also contributed to the rise of the Meat Substitutes Market in Africa. Moreover, the lack of infrastructure for meat production and distribution in certain regions has encouraged the adoption of alternative protein sources.

Underlying macroeconomic factors: The growth of the Meat Substitutes market is also influenced by macroeconomic factors such as changing dietary preferences, increasing awareness about the environmental impact of meat consumption, and rising health concerns. Countries with strong economic growth and a growing middle class are witnessing a shift towards plant-based diets and an increasing demand for meat substitutes. Additionally, government initiatives promoting sustainable food production and reducing carbon emissions are expected to further drive the growth of the Meat Substitutes market in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.