Italyplant-basedfoodretailmarketinsights

2021to2023withinitialinsightsintothe2024market

ExecutiveSummary

Thisreportshowsthetrendsinretailsalesacrosssevenplant-basedproductcategories(meat,milkanddrinks,cheese,yoghurt,icecream,dessertand

cream)inItalybetween2021and2023,basedondatafromCircana.Italsopresentsinitialinsightsintohowthe2024marketisdeveloping.

TheItalianretailmarketforplant-basedfoodwas

valuedat€641millionin2023.

Thetotalannualsales

valueofplant-basedfoods

inItalygrewby16%

between2021and2023.

Totalunitsalesof

plant-basedfoodsinItaly

grewby5.8%

between2021and2023.

Salesacrosssevenplant-basedcategoriestotalled€641millionin2023–anincreaseof16.1%comparedwith2021andanincreaseof8%comparedwith2022.This

increaseispartlydrivenbyinflation,butdespiterisingprices,demandforplant-basedfoodcontinuestoincrease:unitsalesincreasedby5.8%andsalesvolumeincreased

by2.6%between2021and2023.Between2022and2023,unitsalesincreased2.8%whilesalesvolumeincreased0.2%.Plant-basedfoodsarenotuniqueinbecoming

moreexpensive.InItaly,foodinflation

reached

ahistoricpeakof13.6%inNovember2022,beforefallingagain.

SalesvolumeinItalygrewinfouroutofsevenplant-basedproductcategoriesbetween2021and2023,whilesalesvaluegrewinallsevencategoriesoverthesametime

period.

Plant-basedcheeseisexperiencingparticularlystrikingsalesgrowth.Althoughstillasmallandemergingcategory,salesvalueincreasedby79.6%between2021and

2023.

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)2

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)3

Italyplant-basedsalessummarybycategory,2021-2023

Salesvalue

Unitsales

Salesvolume

2023,€

million

2022-23

change

2021-23

change

2023,

millionunits

2022-23

change

2021-23

change

2023,

millionkg

2022-23

change

2021-23

change

199.012.8%24.2%

Meat

75.8

10.1%

15.1%

14.6

7.6%

11.4%

Milkand

drinks

315.1

4.6%

10.9%

159.2

0.0%

2.4%

151.5

-0.4%

2.1%

Cheese

15.2

39.9%

79.6%

6.7

28.5%

71.2%

1.0

33.1%

77.3%

Yoghurt

57.0

7.5%

10.2%

39.9

1.9%

2.0%

9.4

-0.8%

-1.9%

Ice

cream

37.0

5.2%

17.3%

10.3

-4.4%

1.8%

3.4

-4.7%

0.9%

Dessert

9.9

3.9%

8.0%

5.8

-4.3%

-4.5%

1.7

-3.4%

-3.0%

Cream

7.5

7.6%

11.2%

5.2

-2.1%

-8.3%

1.4

-4.0%

-11.6%

Total

640.8

8.0%

16.1%

302.9

2.8%

5.8%

183.0

0.2%

2.6%

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)4

Aboutthedata

Thisreportisbasedonsalesdatagatheredby

Circana

fromretailersinItaly.ThedatahasbeenanalysedbytheGoodFoodInstituteEurope.

ThedataforItalycoversretailsalesinsupermarketsanddiscountstores.Itdoesnotincludefoodservicesales,suchasrestaurants.

Datafor2021,2022and2023coversthewholeyear.Datafor2024coversonlypartoftheyear:fromJanuarytoApril.Sincepartial-yeardatafor2024isnotdirectly

comparabletofull-yeardatafortheotheryears,2024datainthisreportispresentedasacomparisontothesametimeperiodin2023,i.e.JanuarytoApril2023.

FortheItaliandata,thespeci?cdatescoveredbyeachtimeperiodare:

●Full-year2021:4January2021to2January2022

●Full-year2022:3January2022to1January2023

●Full-year2023:2January2023to31December2023

●Partial-year2023:2January2023to30April2023

●Partial-year2024:1January2024to28April2024

Notethatsinceadifferentdataproviderhasbeenused,withdifferentproductcategoryde?nitionsandcoverage,thenumbersinthisreportarenotdirectlycomparableto

thoseinGFIEurope’spreviouspublication,

MarketinsightsonEuropeanplant-based

sales2020-2022

.

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)5

Keyterms

Plant-based:foodsthataremadefromplants.Wheredatapermits,wehavefocusedspeci?callyonplant-basedproductsthataimtomimicthetasteandtextureofanimalproducts.Insomecategories,non-analogueproductssuchasthosebasedonbeansorlentilsarealsoincludedbecausethedatadoesnotpermitfurthersubcategorisation.

Animal-based:fooditemsderivedfromfarmedanimals,suchasmeatfromchickensormilkfromcows.

Salesvalue:thetotalvalueofsalesmeasuredineuros(€).

Unitsales:thetotalnumberofunitsofaproductsold.Aunitcanrefertoapack,cartonortub,forinstance.

Salesvolume:thetotalquantityofproductssoldmeasuredinkilograms(kg)orlitres,dependingontheproductcategory.

PY2024:partialyeardatafor2024,withtheexactdatesdependingontheproductcategory.Exactdatesareindicatedingraphtitlesandexplanatorytext.

Marketshare:theproportionofallsalesinawiderproductcategory(comprisingbothplant-basedandanimal-basedversions)thatisplant-based.Thisfractioniscalculatedbydividingplant-basedsalesbythesumofplant-basedandanimal-basedsales.In

thisreport,marketsharehasmostlybeencalculatedonthebasisofsalesvolume;

however,itcanalsobecalculatedonthebasisofsalesvalue.Notethatinthisreport,

marketshareiscalculatedbasedonlyonretailsalesofpre-packagedproducts.Itdoesnotaccountforsalesinrestaurantsorproductsthatarenotpre-packaged.

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)6

Tableofcontents

—

ExecutiveSummary2

Aboutthedata4

Keyterms5

Tableofcontents6

Overallplant-basedfoodmarket8

TotalItalianplant-basedmarket8

Categories10

Comparisontoanimal-basedfoods11

Plant-basedmeat12

Totalmarket12

Productformatbreakdown14

Pricetrends15

Plant-basedmilkanddrinks16

Totalmarket16

Productformatbreakdown18

Marketshare19

Pricetrendsrelativetoanimalequivalent19

Plant-basedcheese20

Totalmarket20

Productformatbreakdown21

Marketshare21

Pricetrendsrelativetoanimalequivalent22

Plant-basedyoghurt23

Totalmarket23

Productformatbreakdown24

Marketshare24

Pricetrendsrelativetoanimalequivalent25

Plant-basedicecream26

Totalmarket26

Productformatbreakdown28

Pricetrends28

Plant-baseddessert29

Totalmarket29

Productformatbreakdown31

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)7

Pricetrends32

Plant-basedcream33

Totalmarket33

Productformatbreakdown35

Pricetrends35

Closingremarks36

AbouttheGoodFoodInstituteEurope37

Contact37

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)8

Overallplant-basedfoodmarket

TotalItalianplant-basedmarket

Italy’splant-basedmarketisgrowingdespiterisingprices.

Between2021and2023,totalsalesvalueacrosssevenplant-basedcategories(meat,milkanddrinks,cheese,yoghurt,cream,icecreamanddessert)grewby16.1%,

reaching€641millionin2023.

Meanwhile,unitsalesgrewby5.8%to303millionunits,andsalesvolumeroseby

2.6%to183millionkg.Mostoftheincreaseinsalesvolumehappenedbetween2021and2022,withvolumeincreasingonly0.2%between2022and2023.

Between2022and2023,thechangesinannualsaleswere:an8%increaseinsalesvalue,a2.8%increaseinunitsalesanda0.2%increaseinvolumesales.

Partial-yeardatacoveringJanuarytoApril2024showsthatthetotalsalesvalue,unitsalesandsalesvolumeacrossthesevenplant-basedproductcategoriescontinuedtoincrease,comparedtothesametimeperiodin2023.

plant-basedfoodsalesacrosssevencategoriesinItaly,2021-2023

volumesold(millionsofkg*)

*volumesalesweremeasuredinlitresforplant-basedmilkandinkilogramsforallothercategories.Forthetotalsalesvolume,thedatahasbeencombinedbyassumingthatonelitreofplant-basedmilkweighsapproximately1kg.

salesvalue(Emillions)

unitssold(millions)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)9

plant-basedfoodsalesacrosssevencategoriesinItaly,January-April

volumesold(millionsofkg*)

salesvalue(Emillions)

unitssold(millions)

Categories

Thelargestplant-basedcategoriesinItalyaremilkanddrinks,andmeat,accountingfor49%and31%ofoverallsalesvalue,respectively,acrosssevenplant-based

categoriesin2023.Plant-basedmilkanddrinkshavebecomemainstreaminItaly,

representing10.6%oftotalsalesvalueand7.4%oftotalsalesvolumeofplant-basedmilkanddrinksandanimal-basedmilkin2023.

Allsevencategoriessawanincreaseinsalesvaluebetween2022and2023,with

particularlystrongsalesgrowthseenintheemergingcategoryofplant-basedcheese.Eventheplant-basedmeatcategory,whichisthesecondlargestplant-basedcategoryinItaly,sawsigni?cantgrowthat12.8%,suggestingthatdemandforplant-basedmeatisnotyetsaturated.

plant-basedfoodsalesvaluebycategoryinItaly,2023(Emillions)

changeinsalesvalueofplant-basedfoodsbycategoryinItaly,2022-2023

plant-basedfood:shareofItaly'spre-packaged(plant-andanimal-based)retailsalesvalueforeachcategory,2023(%ofsalesvalue)

plant-basedfood:shareofItaly'spre-packaged(plant-andanimal-based)retailsalesvalueforeachcategory,2023(%ofsalesvolume)

Note:totalcategorysales(plant-andanimal-basedcombined)wereonlyavailableforthreecategories:Milkanddrinks,yoghurtandcheese.

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)10

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)11

Comparisontoanimal-basedfoods

Retaildataontheanimal-basedequivalentwasavailableforthreeproductcategories(milkanddrinks,cheeseandyoghurt).

Thevolumeofplant-basedcheesesoldincreasedsigni?cantlymorebetween2022

and2023thanthatofanimal-basedcheese–albeitfromamuchlowerstartingpoint.

Forthemilkanddrinksandyoghurtcategories,animal-basedproductsgrewmoreinsalesvolume,possiblyreboundingafteraperiodofhighfoodpriceinflationin2022.However,thefactthatplant-basedsalesvolumecontinuedtoincreasedespite

plant-basedfoodsbeingmoreexpensivethantheiranimal-basedequivalentsinthosecategoriessuggeststhatthereisstrongunderlyingdemand.

changeinsalesvolumeofplant-andanimal-basedfoodsbycategoryinItaly,2022-2023(%changeinsalesvolume)

Averagepriceperkgorlitreofplant-and

animal-basedfoodsinItaly,2023(E/kgorE/litre)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)12

Plant-basedmeat

Totalmarket

Between2021and2023,theannualsalesvalueofplant-basedmeatinItalyincreasedby24.2%to€199million.Overthesametimeperiod,unitsalesincreasedby15.1%to75.8millionunitsandsalesvolumeincreasedby11.4%to14.6millionkg.

Partial-yeardatafor2024(fromJanuarytoApril)showsacontinuedriseinthesalesofplant-basedmeat,withsalesvalueincreasingby10.4%,unitsalesincreasingby

13.6%andsalesvolumeincreasingby10.5%relativetothesametimeperiodin2023.

TheCircanadataforplant-basedmeatinItalyincludessomenon-analogueproductssuchasvegetablecroquettesandvegetableburgers.Itwasnotpossibletofully

separateoutonlythoseproductsthataimtomimicthetasteandtextureofmeat.

Theplant-basedmeatcategorydoesnotincludetofu,tempehorseitan.For

comparison,thetotalsalesvalueofthosethreeproductsincreasedby20%between

2021and2023,reaching€11millionin2023,whilesalesvolumeincreasedby14.8%.Thereisnotasigni?cantpricedifferencebetweentheseproducts(anaverageof

€13.73/kgin2023)andplant-basedmeat(€13.60/kg),whichalignswiththesalestrendsbeingsimilar.

plant-basedmeatsalesinItaly,2021-2023

salesvalue(Emillions)

unitssold(millions)

volumesold(millionsofkg)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)13

plant-basedmeatsalesinItaly,January-April

salesvalue(Emillions)unitssold(millions)

volumesold(millionsofkg)

JanuarytoApril2023

JanuarytoApril2024

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)14

Productformatbreakdown

Themajorityofplant-basedmeatsalesin2023werechilled(69.7%ofsales

volume),followedbyfrozen(30.1%)andambient(0.2%).

Thebest-sellingproductformatin2023wasburgers(61.5%ofsalesvolume),

followedbywholecuts(13.3%)andstrips/pieces/cubes/sticks(13.3%).

Italyplant-basedmeatsalesbytemperature,2021-April2024(%ofvolumesales)

Italyplant-basedmeatsalesbyformat,2021-April2024(%ofvolumesales)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)15

Pricetrends

Theaveragepriceperkgofplant-basedmeatinItalyincreasedby12%between2021and2023beforefallingslightlyinearly2024,possiblyfollowingtherise

andfallininflationinthebroaderfoodmarketinItaly.

Italy:Averagepriceperkgforplant-basedmeat,2021-April2024(E/kg)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)16

Plant-basedmilkanddrinks

Totalmarket

Between2021and2023,thetotalannualsalesvalueofplant-basedmilkanddrinks1inItalyincreasedby10.9%toreach€315million.Overthesametimeperiod,unit

salesincreasedby2.4%to159millionunitsandsalesvolumeincreasedby2.1%to

152millionlitres.Mostoftheslightincreaseinsalesvolumehappenedbetween2021and2022.

Partial-yeardatafor2024indicatesacontinuedupwardtrend.BetweenJanuaryand

April2024,salesvaluewasup1.8%,unitsaleswereup5.1%andsalesvolumewasup4.5%relativetothesametimeperiodin2023.

plant-basedmilkanddrinkssalesinItaly,2021-2023

volumesold(millionsoflitres)

salesvalue(Emillions)

unitssold(millions)

1Theplant-baseddrinkcategoryincludesplant-basedmilksaswellassomeotherdrinkscontaininga

dairyalternativecomponent,suchascoffeedrinks.Itdoesnotincludedrinksthatarenotalternativestodairyproducts,suchasfruitjuices.

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)17

plant-basedmilkanddrinkssalesinItaly,January-April

salesvalue(Emillions)

unitssold(millions)

volumesold(millionsoflitres)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)18

Productformatbreakdown

Thevastmajorityofplant-basedmilkanddrinksinItalyforwhichdataisavailableareambient,at99.9%ofsalesvolumein2023.

In2023,theleadingsegmentofplant-basedmilkanddrinkswassoy,accountingfor33.8%ofsalesvolume,followedbyoat(27.4%)andalmond(16.6%).Themarket

sharesofsoy,almondandricearedecliningovertime,whilethatofoatisincreasing.

Italyplant-basedmilkanddrinkssalesbyingredientbase,2021-April2024(%ofvolumesales)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)19

Marketshare

Themarketshareofplant-basedmilkanddrinks,asapercentageofoverallsales

volumeofplant-basedmilkanddrinksandanimal-basedmilk2,increasedfrom7.01%in2021to7.46%inearly2024,afterplateauingataround7.4%in2022and2023.

Pricetrendsrelativetoanimalequivalent

Plant-basedmilkanddrinksare

signi?cantlymoreexpensiveperlitrethananimal-basedmilk,butthepricegaphas

plant-basedmilkanddrinks:shareofItaly'stotal(plant-andanimal-based)milkmarket,2021-April2024(%ofsalesvolume)

decreasedovertime.Whilein2021,plant-basedmilkanddrinkswere75%more

expensiveperlitrethananimal-basedmilk,thatpricepremiumhadfallento50%byearly2024.

Italy:Averagepriceperlitreforplant-basedmilkandItaly:pricedifferenceforplant-basedmilkanddrinksdrinksandanimal-basedmilk,2021-April2024(E/litres)comparedtoanimal-basedmilk,2021-April2024(%)

2Bothfreshandlong-lifemilk.

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)20

Plant-basedcheese

Totalmarket

Between2021and2023,theannualsalesvalueofplant-basedcheeseincreasedby

79.6%to€15million.Overthesametimeperiod,unitsalesincreasedby71.2%to

6.75millionunitsandsalesvolumeincreasedby77.3%to956,000kg.

Partial-yeardatafor2024indicatesacontinuedupwardtrend.InJanuary-April2024,salesvaluewasup78.8%,unitsaleswereup53.5%andsalesvolumewasup66.7%relativetothesametimeperiodin2023.

plant-basedcheesesalesinItaly,2021-2023

salesvalue(Emillions)

unitssold(millions)

volumesold(thousandsofkg)

plant-basedcheesesalesinItaly,January-April

salesvalue(Emillions)unitssold(millions)volumesold(thousandsofkg)

Januaryto

April2024

JanuarytoApril2023

JanuarytoJanuaryto

April2023April2024

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)21

Productformatbreakdown

Theleadingformatforplant-basedcheesesalesin2023was

spreadable(37%ofsalesvolume),followedbyfresh/soft(36.4%)andmature/hard(14.6%).

Marketshare

Themarketshareofplant-basedcheesehasmorethandoubled

from0.1%oftotalcheesesales

volumein2021to0.25%inearly

2024.Thisshowsthatplant-basedcheeseisanemergingcategory

withhighgrowthrates.

Italyplant-basedcheesesalesbyformat,2021-April2024(%volumesales)

plant-basedcheese:shareofItaly'stotal(plant-andanimal-based)cheesemarket,2021-April

2024(%ofsalesvolume)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)22

Pricetrendsrelativetoanimalequivalent

In2021,plant-basedcheesewasonaverage89%moreexpensiveperkgthan

animal-basedcheese.However,by2023,thatgaphadfallento51%.Thegaproseagainto58%inearly2024,drivenbyanincreaseinthepriceofplant-basedcheeseandadeclineinthepriceofanimal-basedcheese.

Italy:pricedifferenceforplant-basedcompared

Italy:Averagepriceperkgforplant-basedand

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)23

Plant-basedyoghurt

Totalmarket

Between2021and2023,theannualsalesvalueofplant-basedyoghurtinItaly

increasedby10.2%to€57million.Overthesametimeperiod,unitsalesincreasedby2%to39.9millionunitswhilesalesvolumefell1.9%to9.36millionkg,indicatingthattheaverageweightperunithasdecreased.

DataforJanuarytoApril2024indicatesthatvaluesales,unitsalesandsalesvolumeincreasedby6.1%,7.6%,and3%,respectively,relativetothesameperiodin2023.

plant-basedyoghurtsalesinItaly,2021-2023

salesvalue(Emillions)

unitssold(millions)

volumesold(millionsofkg)

plant-basedyoghurtsalesinItaly,January-April

salesvalue(Emillions)

unitssold(millions)

volumesold(millionsofkg)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)24

Productformatbreakdown

Theleadingplant-basedyoghurt

flavoursarefruit(47.1%ofsales

volume)followedbyplain(33.7%).

Marketshare

Themarketshareofplant-based

yoghurthasdecreasedslightlyfrom2.05%ofoverallvolumein2021to1.96%inearly2024.

Italyplant-basedyoghurtsalesbyflavour,2021-April2024(%volumesales)

plant-basedyoghurt:shareofItaly'stotal(plant-andanimal-based)yoghurtmarket,2021-April

2024(%ofsalesvolume)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)25

Pricetrendsrelativetoanimalequivalent

Bothplant-basedandanimal-basedyoghurthavebecomemoreexpensiveovertime.Whileplant-basedyoghurtremainsmoreexpensive,thegaphasnarrowed.In2021,

plant-basedyoghurtwasonaverage49%moreexpensiveperkgthananimal-based

yoghurt,butthatpricepremiumfellto39%by2023beforerisingagainto41%inearly2024,drivenbyaslightincreaseinthepriceofplant-basedyoghurtandaslight

decreaseinthepriceofanimal-basedyoghurt.

Italy:Averagepriceperkgforplant-basedandItaly:pricedifferenceforplant-basedyoghurtcompared

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)26

Plant-basedicecream

Totalmarket

Between2021and2023,theannualsalesvalueofplant-basedicecreaminItalyincreasedby17.3%to€37million.Unitsalespeakedin2022at10.7millionunitsbeforedecliningto10.3millionunitsin2023.Salesvolumealsopeakedin2022at3.57millionkgbeforefallingto3.4millionkgin2023.

DataforJanuarytoApril2024indicatesthatthecategoryisrebounding,withsalesvalue,unitsalesandsalesvolumeincreasing6.8%,1.4%,and2.7%,respectively,relativetothesameperiodin2023.

IcecreamisaseasonalproductandismostlyconsumedduringthesummermonthsinItaly.However,itisfairtocomparethepartial-yeardatafor2024tothatofthe

previousyearsincethesametimeperiod(JanuarytoApril)ispresentedforbothyears.

plant-basedicecreamsalesinItaly,2021-2023

volumesold(millionsofkg)

salesvalue(Emillions)

unitssold(millions)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)27

plant-basedicecreamsalesinItaly,January-April

salesvalue(Emillions)unitssold(millions)

volumesold(thousandsofkg)

GFIEUROPE/Italy:Plant-BasedFoodsRetailMarketReport(2021-2023)28

Productformatbreakdown

In2023,soywasthemostpopular

baseingredientforplant-basedice

cream,accountingfor68.4%ofsales

volume,followedbyalmon