The nonprofit and think tank published the findings after analysing previously unpublished Circana retail sales data.
The trend towards growth was in large part driven by the availability more affordable own-brand products, GFI Europe said.
For instance, the sales volume of private-label products grew by 41.4% in Germany between 2022 and 2024, while branded sales volume fell by 8.3%.
Similar trends were present elsewhere, with private-label sales volumes increasing substantially in France, Italy and Spain.
In the UK, where overall plant-based sales fell, innovative new products were more resilient than cheaper private-label plant-based options. The sales of both plant-based meat and vegetable-based options, but GFI Europe saw that a number of premium plant-based meat brands continued to see strong growth.
Consumers bought 35.8 million kilograms of plant-based meat in 2024, compared to just 11.9 million kilograms of tofu, tempeh, seitan and vegetable-based products.
Across some of the countries included in the date, the sale of branded products did contribute to the success of smaller categories such as plant-based cheese and seafood. GFI Europe said that this suggests that in smaller categories and more established markets, factors such as taste and perceived quality may be the key drivers of sales among existing consumers.
Commenting on the findings, senior market and consumer insights manager at GFI Europe Helen Breewood said: “It’s great to see that Europe’s plant-based retail market remains resilient, with increasing sales volumes across four major countries last year. These foods are becoming ever more mainstream as retailers invest in more affordable products.
“However, the ongoing success of more expensive products in some categories shows that price is not the only factor. There is a huge potential market for sustainable and healthy plant-based foods, and companies have a real opportunity to reach more people by developing tastier, nutritious and affordable products that can fit into their lifestyles.”
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