Growth of meat and dairy alternatives is stirring up the European food industry

European retail sales of meat and dairy alternatives have grown by almost 10% per year between 2010 and 2020, but alternatives still represent a very small share of the market. At ING, we estimate that the plant-based alternatives food market in the EU and the UK will be worth €7.5 billion by 2025, compared to €4.4 billion in 2019.