1、 Spain 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 of four plant-based product categories(meat,milk and drinks,cheese and yoghurt)in Spain between 2022 and 2023(plus 2021 data for milk
2、and drinks),based on data from Circana.It also presents initial insights into how the 2024 market is developing and draws on household panel data from Kantars ES Grocery Consumer Panel to provide insights into purchase patterns.The data show a growing market overall,despite mixed performances across
3、 categories.The total value of plant-based retail sales increased by 7.5%between 2022 and 2023.This increase is partly driven by inflation,but despite rising prices,demand for plant-based food continues to increase:unit sales increased by 3%and sales volume increased by 6.4%between 2022 and 2023.Sal
4、es volume grew for plant-based cheese and milk and drinks between 2022 and 2023(cheese and milk and drinks),while sales value grew for cheese,milk and drinks,and yoghurt over the same time period.Plant-based cheese is experiencing particularly striking sales growth.Although still a small and emergin
5、g category,sales value increased by 47.5%between 2022 and 2023.Kantars ES Grocery Consumer Panel shows that the percentage of Spanish households buying plant-based meat alternatives 1 has fallen slightly,while the proportion of Spanish households buying plant-based milk has risen,as has the proporti
6、on of households making multiple purchases of plant-based milk during a year.1 This report uses the term“plant-based meat alternatives”when referring to data from Kantars ES Grocery Consumer Panel.As with the retail sales data from Circana,this refers to plant-based products that intend to mimic the