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Europe plant-based food and beverage market is projected to grow at a CAGR of 8.87% during the forecast period (2020-2025).
The gaining popularity of vegan diet and incidences of lactose intolerance are driving the market for plant-based food and beverages in Europe.
The rising consumer awareness regarding the negative impact of the consumption of meat on health is leading to a shift toward vegan diet. Additionally, benefits of cholesterol-free protein, with meat-like texture, are one of those key factors promoting the growth of plant-based food and beverages.
Increased launch of unconventional dairy alternative products, such as hemp, pea, and cashew milk, is an optimistic development for the market, and this is expected to drive the market in the future, as most of the manufacturers are making developments in the sector. Furthermore, there is a significant improvement, in terms of media coverage, which is primarily in line with the increase in new product developments and the demand for products.