New brands are arriving on the plant-based substitute shelves

Growth of the plant-based substitute market
  • Strong momentum: The plant-based meal market is experiencing significant growth with a 15.3% increase in value and 3.4% in volume in 2023.
  • Success of meat alternatives: This segment is experiencing particularly strong growth with a 36.7% increase in value and 19.6% in volume.
  • Flexitarians on the rise: 45% of French people identify as flexitarians, contributing to the market's growth.
Arrival of new players
  • Better Balance (Aoste): Launch of a range of 5 products based on peas, wheat, soy and rice, with a Nutri-score A and a target of 10% market share by 2026.
  • Fleury Michon: Introduction of Végé Slices based on lentils, chickpeas and white beans, imitating the use of ham without trying to reproduce its taste (price: €2.29 for 120g).
  • HappyVore: Launch of a plant-based meatballs with tomato and Provençal herbs based on pea protein (price: €3.79 for 180g).
Barriers to market development
  • High price: The average price index for plant-based substitutes is 152, which still makes them relatively inaccessible for some consumers.
  • Ultra-processed products: Some plant-based substitutes undergo significant processing, which may put off some consumers.
  • Lack of education: The plant-based substitute category being relatively new, some consumers need more information to understand the products and their benefits.
Suspension of the ban on naming plant-based products like meat
  • Suspended decree: The ban on using terms like "steak" or "ham" for plant-based products has been suspended by the Council of State pending a decision from the Court of Justice of the European Union.
Future prospects
  • Significant potential: The plant-based substitute market in France has strong growth potential, driven by growing consumer concerns about health, the environment and animal welfare.
  • Need to improve accessibility and education: To fully develop, the market must strive to make products more accessible and better inform consumers about their benefits.
In summary, the plant-based substitute market in France is booming, but it still faces some challenges to fully exploit its potential.

Source: https://www.lsa-conso.fr/de-nouvelles-marques-arrivent-au-rayon-des-substituts-vegetaux,455708

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