Spain Plant-Based Food Market Growth 2024

Spain's Plant-Based Food Market Booms in 2024, Attracting €64.7M Investment

Spain's plant-based food market and alternative protein sector have seen remarkable growth in 2024. One in five households bought plant-based meat products, with sales reaching €491M, a 10% increase in volume. Investment in the sector surged by nearly 550%, making Spain the second most attractive country for investors in Europe.

The surge in plant-based food sales reflects a growing consumer interest in Spain. A fifth of households now opt for plant-based meat products. This trend is supported by a robust alternative protein ecosystem. Spain's potential as a regional leader is recognised, with strong government support and a focus on smart food processing using local raw materials.

Investments in the sector have skyrocketed, reaching €64.7M in 2024, a 547% increase from the previous year. Heura's €40M Series B round led the funding efforts. Carlos Campillos Martínez, public affairs manager for GFI Europe in Spain, believes Spain can become the benchmark for alternative proteins in Southern Europe with the right support. The Good Food Institute Europe recommends promoting local crop cultivation and processing, and fostering education and innovation in the field.

Spain ranks 14th in researchers and publications per capita in the alternative protein field. With 71% of startups focusing on plant-based ingredients, 19% on fermentation, and 10% on cultivated meat, the country is well-positioned to lead the future food sector in Southern Europe.

Spain's plant-based food market and alternative protein sector have shown significant growth in 2024, with increased consumer demand and robust investment. With strong government support and a focus on innovation, Spain has the potential to become a regional leader in the future food sector, providing alternative foods to the rest of Southern Europe.