1、 Italy plant-based food retail market insights 2021 to 2023 with initial insights into the 2024 market Executive Summary This report shows the trends in retail sales across seven plant-based product categories(meat,milk and drinks,cheese,yoghurt,ice cream,dessert and cream)in Italy between 2021 and
2、2023,based on data from Circana.It also presents initial insights into how the 2024 market is developing.The Italian retail market for plant-based food was valued at 641 million in 2023.The total annual sales value of plant-based foods in Italy grew by 16%between 2021 and 2023.Total unit sales of pl
3、ant-based foods in Italy grew by 5.8%between 2021 and 2023.Sales across seven plant-based categories totalled 641 million in 2023 an increase of 16.1%compared with 2021 and an increase of 8%compared with 2022.This increase is partly driven by inflation,but despite rising prices,demand for plant-base
4、d food continues to increase:unit sales increased by 5.8%and sales volume increased by 2.6%between 2021 and 2023.Between 2022 and 2023,unit sales increased 2.8%while sales volume increased 0.2%.Plant-based foods are not unique in becoming more expensive.In Italy,food inflation reached a historic pea
5、k of 13.6%in November 2022,before falling again.Sales volume in Italy grew in four out of seven plant-based product categories between 2021 and 2023,while sales value grew in all seven categories over the same time period.Plant-based cheese is experiencing particularly striking sales growth.Although
6、 still a small and emerging category,sales value increased by 79.6%between 2021 and 2023.GFI EUROPE /Italy:Plant-Based Foods Retail Market Report(2021-2023)2 Italy plant-based sales summary by category,2021-2023 Sales value Unit sales Sales volume 2023,million 2022-23 change 2021-23 change 2023,mill