Spain's plant-based food and drink market reached €572 million in 2023, a 9.4% increase from the previous year and close to double its 2018 value of €287 million.
Led by brands like Alpro, Biogran, Cubiq Foods, Foodys, Frías, Garden Gourmet, Iparlat, Liquats, Oatly, Sojasun, Soria Natural, and Vivesoy, the sector, represented by the Spanish Association of Producers of Vegetable Foods and Drinks (Vegetal/es), anticipates growth of around 10% by the end of this year.
A 2023 study by Vegetal/es, in partnership with Afi, found that over one-third of Spaniards incorporated plant-based foods into their diets, with plant-based drinks present in 46% of Spanish households.
The report, which examines the plant-based sector's 2023 performance, emphasises its positive economic, social, and environmental contributions, and its importance for sustainable food systems.
Beyond sales, Spain's roughly 60 plant-based companies contributed significantly to the national economy in 2023, generating €355 million in Gross Added Value (GVA).
This sector has a strong ripple effect, with every euro of plant-based GVA creating an additional €3.70 in the wider economy and each direct job supporting nearly four more jobs elsewhere.
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Plant-based products stand out for their sustainability, as they are estimated to require 80% less water, and 70% less land and reduce up to 2.1 tonnes of CO₂ per year, per person.
Supermarkets now account for the majority of sales (76%), reflecting the mainstream adoption of these products beyond a niche vegetarian/vegan market.
Plant-based drinks represent the largest segment (65.2% of sales), followed by vegetable protein-based foods (21.3%) and yogurt alternatives.
The market's growth is fuelled by evolving consumer preferences. In 2023, over a third of Spaniards, particularly women and young people, consumed plant-based products.
In 2022, Spain was the fourth largest European market for plant-based foods and drinks, accounting for 8.8% of total European sales (€483 million), trailing only Germany, the UK, and Italy.
The European market as a whole is projected to grow substantially, reaching nearly €15 billion by 2029, up from €5.8 billion in 2022, according to Vegetales.
