Market Size of Europe Animal-Based Food and Beverage Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.93 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Animal-Based Food and Beverage Market Analysis
Europe animal-based food and beverage market is projected to grow at a CAGR of 3.93% during the forecast period (2022-2027).
The animal-based food and beverage industry of Europe has faced several challenges due to COVID-19, which include price changes, supply chain disruption, safety, and other unanticipated impacts. Since Covid-19, health consciousness has been increasingly growing among the population of the region. In addition, the consumer behaviour towards animal-based food and beverages has been extensively changed in the Europe. For instance, in recent years, the volume of bacon exported from Denmark to European Union decreased overall. As of 2019, it amounted to roughly 47 thousand metric tons. In 2021, the export volume from the country to the European Union reached approximately 45 thousand metric tons in total, of which around 43 thousand metric tons of bacon were for the export trade to the United Kingdom.
Over the medium term, the growing need for convenience food supported by factors, such as busy lifestyles, changing consumer preferences, and growing demand for ready-to-eat food products (like processed meat and dairy snacks), are expected to drive the demand for the market studied.
Furthermore, innovations in meat processing technologies have led to the introduction of diverse products in the market, thus, ensuring a bigger consumer base. Cheese and pig meats are the preferred animal-based protein sources in the European Union, followed by poultry, milk, and bovine.
