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)

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)

The Europe plant-based ham market is expected to grow from US$ 215.62 million in 2022 to US$ 419.66 million by 2028. It is estimated to grow at a CAGR of 11.7% from 2022 to 2028.

Surging Demand in Developed Economies is Driving the Europe Plant-Based Ham Market is Expected to Provide Lucrative Growth Opportunities

Plant-based ham is gaining huge traction across several countries as consumers in the region are reducing their meat, pork, and beef consumption in an attempt to lead a sustainable and healthy life. According to Finder.com Comparison UK Limited, as of 2022, 14% of adults in the UK (7.2 million) are following a meat-free diet. This means the UK could have 16 million meat-free citizens at the beginning of 2023. Many companies are expanding their product portfolio in developed markets to address the demand. Moreover, consumers in developed countries pay more attention to product labels and ingredients used in processed food products. Plant-based, and organic products are gaining popularity owing to their perceived health benefits. Organic plant-based ham is free of pesticides, chemical fertilizers, and genetically modified organisms (GMOs). These benefits add to the popularity of organic plant-based ham among consumers who are ready to pay high prices. Moreover, consumers increasingly prefer clean-label plant-based products that are free of synthetic flavors, colors, and other food additives. They focus on holistic and conscious consumption and prefer products with ethically sourced ingredients. Thus, the increasing demand for clean-label and organic plant-based food products is expected to provide lucrative growth opportunities to the Europe plant-based ham market over the forecast period.

Europe Plant-Based Ham Market Overview

The Europe plant-based ham products market is further segmented into Germany, France, Italy, the UK, Russia, and the rest of Europe. Europe has emerged as a significant market for ham slices and strips, rolls, and roasts. According to the “The Smart Protein Project report,” the sales value of plant-based food in Germany grew by 97% from 2018 to 2020, while the sales volume increased by 80%. Moreover, consumers are highly inclined toward plant-based products owing to the rising awareness regarding animal welfare. The shift in preference from animal-based diet to plant-based diet has led to the consumers in the UK seeking proteins sourced from plants. The popularity of these products is evident through trends in retail chains, and hotel and resort industries in the UK. Quorn Foods and Tofurky Co., Inc., among others, are promoting plant-based ham products to consumers in the UK, thereby addressing their health, taste, and ethical concerns associated with traditional pork products. Further, with plant-based food gaining significant traction, manufacturers are switching to plant-based food/meat category. For instance, Avril, a French agri-food group, in September 2021, initiated a discussion with Bigard, a meat manufacturing group, to sell its majority stakes in pork processing companies Abera and Porcgros. With this, Avril is seeking to exit from the meat industry and concentrate on its vital plant-based business. Such initiatives by key players would bolster the plant-based ham market growth in Europe over the coming years.

Europe Plant-Based Ham Market Revenue and Forecast to 2028 (US$ Million)

Europe Plant-Based Ham Market Segmentation

The Europe plant-based ham market is segmented into product type, distribution channel, and country.

Based on product type, the Europe plant-based ham market is segmented into slices and strips, rolls, and roasts. In 2022, the slices and strips segment registered a largest share in the Europe plant-based ham market.

Based on distribution channel, the Europe plant-based ham market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. In 2022, the supermarkets and hypermarkets segment registered a largest share in the Europe plant-based ham market.

Based on country, the Europe plant-based ham market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, the Rest of Europe segment registered a largest share in the Europe plant-based ham market.

Hain Celestial Canada ULC; Meliora Foods Pty Ltd; Nestle SA; Quorn Foods Ltd; and VBites Foods Ltd are the leading companies operating in the Europe plant-based ham market.

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